Cybersecurity, also called information technology security, refers to practices, technologies, and processes that are designed to protect data, devices, networks, and devices from damage, attack, and unauthorized access. A recent survey revealed a shocking revelation that the damages due to cybercrimes will hit the 6 trillion dollar mark by 2022.
This is what prompted tech companies, government agencies, hospitals, and financial institutions to invest in cybersecurity infrastructure. Companies are making such investments to ensure the safety of their business and customers, who are trusting them with their data.
Why Cybersecurity Is Important
There is no denying that cybersecurity has become a severe issue not just for enterprises, but also for governments and individuals. Most people use the internet for a wide range of purposes varying from watching cute cat videos to shopping online. As a result, it is integral for us to ensure that our data is secure and safe. This is where cybersecurity comes into play.
Cybersecurity is capable of keeping internet users and businesses safe from cybercriminals and hackers. That said, there are a number of challenges faced by cybersecurity even. Let’s now take a brief look at some of the top cybersecurity challenges in 2022.
The IoT (Internet of Things) Analytics recently revealed that the number of IoT devices will be around 11.6 billion by 2021. As most of you are probably aware, IoT devices are mechanical, digital, and computing devices capable of autonomously transmitting data over a certain network.
Mobile phones, laptops, smart security devices, and desktops are some of the most common IoT devices and their adoption has been happening at an increasing rate. Unfortunately, this also means an increase in the number of cybersecurity challenges.
Hackers and cyber attackers may try to attack IoT devices and if they succeed, then they may gain access to sensitive user data. One of the major cybersecurity challenges is safeguarding IoT devices because gaining access to them may open doors for other types of malicious attacks.
If you are familiar with cyberattacks, then you will probably be aware that ransomware attacks have become quite common over the last few years. In fact, ransomware attacks are one of the most prominent cybersecurity challenges in several countries including India.
A survey conducted by Sophos, which is a cybersecurity firm, revealed that approximately 82% of organizations in India have become victims of ransomware attacks over the last six months or so. Ransomware attacks hack sensitive user data and demand a ransom from businesses/individuals so that they can continue accessing the data.
However, it is crucial to note that ransomware attackers do not release the user data even after they have received the payment. The attackers will instead demand more money from businesses or individuals.
Most internet users make use of cloud services for either professional or personal requirements these days. However, these users are not aware of the fact that several hackers and cyber attackers have started to hack cloud platforms for stealing user data. In fact, this is another common challenge cybersecurity is facing.
Most of you might have heard about the iCloud data breach, which resulted in the exposure of private images of several celebrities. If hackers carry out such an attack on a business or an enterprise, then the enterprise will suffer massive losses and may end up losing their reputation and trust of customers.
Phishing is another common type of cyberattack that is focused on stealing credit card numbers, login credentials, and other user data. What makes phishing different from ransomware attacks is that the attacker doesn’t prevent users from accessing their data. Instead, cyber attackers use the data for illegal money transfers and online shopping.
Internet users and businesses will be able to reduce the chances of falling prey to phishing attacks. Businesses can do this easily by enabling additional security measures like enabling two-factor authentication. On the other hand, users will be able to prevent phishing attacks by avoiding clicking on spam emails.
Users should properly check emails because most spoofed emails and messages often have subtle mistakes. For instance, you will be able to spot spelling mistakes or slight changes to the domain name. If that’s the case, you should avoid clicking on any links in such suspicious emails.
Irrespective of how advanced they are, all software systems will have some kind of vulnerability, which can pose serious challenges to cybersecurity. It might come as a huge surprise to quite a few people when they hear that several businesses continue to use an older version of the software without updating it.
If you are following this kind of approach, then it is best to avoid it because it is integral to update software to its latest available version. Most software updates will contain security patches that will offer greater protection to users and businesses.
Cryptocurrency and Blockchain Attacks
Average internet users might not care a lot about cryptocurrency and blockchain. However, there is no denying that these two are a huge deal for most businesses. As a result, cryptocurrency and blockchain attacks may pose serious cybersecurity challenges to businesses because these attacks can compromise their operations and customer data.
There have been several cryptocurrency and blockchain attacks like Eclipse, Sybil, DDOS, and more. This is why it is important for businesses to understand the security challenges that come with these two technologies and take the necessary steps to prevent such attacks.
AI and ML Attacks
Artificial Intelligence and Machine Learning are innovative technologies that have proven to be quite effective for several businesses. The use of these two technologies has made it possible for businesses to enjoy success in different sectors. However, it is high time we pay attention to the fact that both ML and AI also have vulnerabilities.
Hackers and cybercriminals may exploit these technologies, which may result in cyberattacks that can pose serious threats to your business. These two technologies may be used by hackers to identify high-level targets.
Users and businesses will be able to protect their data and devices by taking simple but effective measures like regularly updating software, installing a firewall, enabling two-factor authentication, and more. The challenges faced by cybersecurity we have listed should help you to make better decisions at an organizational and individual level to ensure greater security against cyberattacks.