Here, a cybersecurity expert outlines the current cybersecurity trends and recommends the steps that businesses can take to protect themselves from attacks.
According to research by Cybersecurity Ventures, the cost of cybercrime is predicted to hit $8 trillion in 2023 and grow to $10.5 trillion by 2025. Attackers will always find new ways to penetrate systems, and companies are continually assessing how their systems might be attacked and how much money it will cost to protect them.
The Dark Web has always been promoted as an arena for devious transactions. The concept is that transactions made on the Dark Web are anonymous and concealed from law enforcement and cyber security. Most people will not be affected by the Dark Web or think much of it. But what businesses don’t realise is that perpetrators have now gone global and are directly targeting businesses.
Many companies monitor their IT infrastructure 24/7 with a monitoring tool. This allows them to keep a constant eye on the status of devices such as servers, switches, computers and routers. In addition, the tool can sound an alarm directly if defined threshold values are exceeded.
Keeping sensitive data secure and protected can be a minefield. The pandemic highlighted shortcomings in a myriad of global industries and critical infrastructures, with the fragility of the pharmaceutical industry becoming a national cause for concern as it buckled under the pressure of a series of high-profile cyber attacks.
According to cybersecurity expert Barracuda, small businesses are three times more likely to be targeted by cybercriminals than larger companies. There is a common misconception that SMEs have nothing worth targeting and that data breaches only happen to large corporations, but this is far from reality.