If you utilize the internet in your office, home, or personally on your smartphone, it is unlikely that you have no information stored online.
With the wave of digitization in almost every industry, the world is now linked. Today, it is possible to purchase products from a country you have never visited. You can just tap into your phone and make international payments in seconds. Not only this, businesses acquire services from all over the world and stay connected remotely.
In the wake of this digital revolution, hackers were also born. These people have the amazing capability of getting into your system in new, different ways. Most of the times, it is not possible to see it coming. Even when you do see it coming, preventing the damage altogether becomes crucial.
Looking at how data breaches are reducing the brand value and reliability quotient of businesses, we have prepared a list of security risks that you should watch in 2019.
Information Security Risks to Watch In 2019
Every year, cybersecurity concerns of businesses keep increasing. This is one issue that never ceases to threaten organizations. Hence, let’s dive in and explore the risks you need to be cautious about:
1. IoT Related Ransomware Attack
Vulnerability in your systems and smart devices along with unsecured network security protocols may expose you to ransomware attack. These attacks would allow the hacker to get into your system and encrypt your information until you pay a certain amount of money to achieve encryption key. Simply put, with more industries adopting IoT, the risk is increasing as you read this.
2. Information Distortion Attack
No doubt, the internet has given us the power to spread the news over the internet in minutes. But, it has also given rise to false information. This false information can, in fact, end up impacting the operations of an organization. These operations may include recruitment, promotions, development, marketing, and overall decision making. Many organizations pay a high price for false information.
3. High Global Impact with Cyber War
As all over the world a cyber war is initiating, it may lead to a total shut down of the operations of many organization. This may cease transactions and cause millions of dollars’ worth of losses. This war will soon engulf government organizations and big corporates carrying out various transactions online every second. If that happens, the loss of money, resources, and credibility will be incomprehensible.
Previously, crypto jacking attacks were originally made on a small organization. But, it is now spreading to large corporates. These attacks aim at mining cryptocurrencies by getting into the system. When these attacks are made on a large organization, it can cause a wide level impact. Many systems will be damaged and cryptocurrency will be lost.
5. Shadow IT
Shadow IT includes the applications running in an organization without the knowledge of the IT support team. When these applications go unnoticed for a long duration, it may lead to a huge cybersecurity threat to the business. As IT teams are unaware of the shadow IT structure, they may not be monitoring it. This means that if an attack is coming towards the business, the IT team may not be able to detect it even if they have the capability of doing so.
The only way to avoid and prevent cyber security threats is to increase the security layer of your organization. As hackers are becoming smarter by the day, the security implementation in organizations should also evolve. Hence, it is best to closely monitor cyber threats, unusual activities, and keep a close look at doubtful devices.