Cybersecurity – Protect your business against the ever-increasing threat of cyberattacks
Every 11 seconds a company faces a ransomware attack, is your company protected against cyberattacks?
Cybersecurity is how companies protect themselves against the ever-increasing threat of cyberattacks. If you’re a business with a bank account, cybercriminals could attack your systems, networks, and devices. It doesn’t matter your industry or whether you’re a big or small business – unfortunately, you’re a potential target.
The cost of cybercrime
The reality is that cybercrime pays. By some estimates, cybercriminals face only a 0.05% chance of being detected and prosecuted. The prospect of minimal consequences helps hackers feel confident.
In 2021, there was a ransomware attack once every 11 seconds, a frequency expected to increase to once every two seconds by 2031.
When organisations suffer cyberattacks, the damage is immense. Not only can they lose revenue and information, but they must spend money to handle the fallout and restore business operations.
Overall, the cost of cybercrime is projected to reach $10.5 trillion worldwide by 2025, more than the GDP of almost every country.
5 types of cyberattacks
Cyberattacks are malicious attempts to steal, corrupt, or destroy information or information systems. Here are five most common types:
Malware
Malware is a general term that describes the act of intentionally infecting a computer with a virus. Once installed on a device, malware can spread to other devices and spy on those users.
Ransomware
Ransomware is a type of malware that involves holding a computer system hostage until a ransom is paid. Ransomware works when the hacker gains access to a target system and encrypts files with a special key, sometimes deleting backup copies of the files in the process.
Phishing
In a phishing attack, a hacker tries to bait a user into an action, like clicking a malicious link or visiting a website infected with a virus. While phishing attacks typically occur via email, they can happen over phone calls and text messages, and target everyone from end-users to senior leaders who have direct access to financial information.
IoT-based attacks
Internet-of-Things (IoT) are machines connected to the internet. They’re critical for business automation, but they are uniquely susceptible to cyberattacks. For example, recent studies show that many medical devices are vulnerable because they operate on outdated legacy software that can no longer be patched.
AI-powered attacks
Artificial intelligence (AI) can help organisations automate services and analyze data. It can also help hackers launch more cyberattacks to greater effect. For instance, voice deepfakes - when AI mimics a person’s voice to impersonate them - can be used to trick unsuspecting employees into wiring money or disclosing passwords.
7 types of cybersecurity
Strong cybersecurity involves protecting multiple domains with well-rounded defenses. Some of these include:
Application security
Application security refers to defensive measures that keep your software applications fully operating, whether they’re in the cloud or on-premises.
Cloud security
Cloud computing makes your business more secure because it encrypts data at rest (data storage), in motion (as data travels to and from and within the cloud), and in use (during data processing), which increases data privacy and helps optimise regulatory compliance.
Data security
Data security is a series of measures to preserve data confidentiality, integrity, and availability. It uses techniques like data encryption, data redaction, and user access controls.
Database and infrastructure security
Database and infrastructure security protects your systems and assets from cyberthreats, whether they’re physical hardware or software applications.
Identity and access management
Identity and access management (IAM) is a framework for ensuring that critical business information is digitally accessible only by privileged users in the organisation.
IoT cybersecurity
IoT security defends remote entry points and focuses on enhancing network security, installing firewalls and intrusion detection/prevention systems, and continuously patching systems with the latest updates.
Network security
Network security keeps criminals from accessing your network, whether you’re connected through a wire (like a desktop computer) or Wi-Fi (a mobile device like a laptop or tablet).
To get ahead in the global digital economy, businesses must deploy advanced technology like cloud computing and AI, integrating cybersecurity into their solutions.
Migrate quickly to eliminate risks like aging servers or disaster recovery protection or have a plan and vision for cloud migration. Our solutions can help in either situation. Migrations happen at the speed customers need them to. Protect your company and have your employees focus on business-critical work.
