Cyber and Data Security Threats are the worst global threats today for businesses. Regardless of size, companies rely upon critical business data and sensitive information. Thus, companies need to be mindful of all potential risks to secure their networks in this new year.
The Cost of a Data Breach Study (2018) by Ponemon with IBM Security’s sponsorship reports, a data breach’s average cost to be up by 6.4 per cent over its previous year to $3.86 million, globally. While the average cost for each stolen/lost record containing sensitive and confidential information also increased exponentially.
Ransomware and Cybersecurity Vulnerabilities
In 2019, ransomware will continue to be the main malware challenge for businesses and beyond. This includes Network Security threats and Software threats & vulnerabilities. A virus is the first thing that comes across over minds with the term “Cyber Security”. Malware opens the door to all of your sensitive data.
The last couple of years showed us multiple data security hazards. Some examples are WannaCry ransomware (WanaCrypt0r 2.0) demanding bitcoins from UK NHS hospitals, Telefonica (Internet Service Provider), and other high-profilers. That left many other companies highly vulnerable concerning damage. Improper defence and data storage caused “Rampant Data Exposures” exposing approx. 340 Million records. It occurs especially with the misconfiguration of a database by the cloud users, which brings us to the next point: “Cloud Computing”.
If not handled with enough caution, cloud computing may lift data risks, threats, and turn cloud security into a nightmare.
Here, we’ve put a spotlight on the top 3 cloud computing security pain points for the businesses:
It includes Threats from the inside and DDoS attacks. Furthermore, your employee’s data security breach can become hazardous for your business. These 5 data breach predictions for 2019 by Experian includes Biometric and sensors hacking. Skimming and Phishing through online gaming to steal personal information and even access to their computer and cloud.
Mobile devices and Social Media
At this point, internet-connected devices go far beyond tablets, computers and mobile device. So, with the introduction of IoT (Internet Of Things) a number of new security threats on the internet caused a ruckus in 2018. Small internet-connected devices may contain sensitive data and hence, necessary to protect.
Moreover, one of the top social media platform Facebook, saw a colossal breach, compromising the data of about 50 billion users. Furthermore, Quora has become the latest victim of a data breach affecting up to Hundred million users’ Info like names, email and IP addresses, user IDs, encrypted passwords, user account settings and almost every action possible.
A little lack of responsibility while using IoT, BYOD may form a venue for data security threats. Therefore, to combat the dangers of both today & tomorrow, it’s critical that businesses have proper protection all around your business.
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