Top Cyber Security Threats 2021

Today the whole world lives, works, and plays on the internet. Thanks to the internet the connectivity and efficiency have increased substantially, however along with the benefits offered, the internet also brings several cybersecurity threats. Threats like cyber hacking, cybersecurity attacks raise the need for cybersecurity.

As per a study by Norton Security, around 60 million Americans have been victims of identity theft. They have predicted that by 2023, cybercriminals would end up stealing around 33 billion records per year.

The number of evolving cyber security threats has the information security industry on high alert. Sophisticated cyber security attacks like malware attacks, phishing, artificial intelligence, crypto currency etc. have put the data of corporations large or small, governments and individuals at constant risk.

Everyone right from individuals to small businesses to large companies can be a target of cyber security attacks; however trends show that small businesses are the most common targets of cyber criminals. Statistics show that 43% of top cyber security attacks are targeted towards small businesses! Therefore it is important for businesses to take required online security measures to help protect the business from any kind of cyber security threats.

Before we go ahead and learn more about the common cyber security threats faced by businesses, let us first understand what is cyber security and the role of Cyber security companies in averting these threats.

What Is Cyber security?

Cyber security is the buzzword today and understanding cyber security is very important for every business and individual.

In simple words Cyber security involves providing protection to computer systems from data theft or damage to their hardware and software. It also involves protecting the computers from unwanted disruption or misdirection of the services.

This definition highlights two aspects of cyber security that are easily forgotten. When one talks of cyber security attacks or cyber security threats, people associate them with the internet and online content. However, in reality, cyber security is not only about securing the online data or content, it is also about protecting the hardware and software of the computer system.

What are the common cyber security threats?

Cyber security threats are classified under 3 categories of intent. Either the attackers or hackers are after financial gain, theft of confidential data or disruption of services. Practically every cyber threat falls under these three modes.

The most common cyber security threats are:

1. Malware: Malware is software that targets a device or network with the intent to corrupt the data or take control of the system.
2. Phishing: Phishing is an email attack with the intent of tricking the email recipient to disclose confidential information. The email may contain a hyperlink which on clicking will download malware on the computer or system.
3. “Man in the Middle” (MitM) attack: In this form of attack an attacker creates a position between the sender and recipient of electronic messages. The attacker intercepts their messages and makes changes to them when in transit. In such instances, the sender and recipient both are unaware of the access taken by the attacker. They believe they are communicating directly with one another.
4. Trojans: Trojan is a type of malware that enters the host system looking like one of its own, for example, software code. Once inside the system the malware lets out a malicious code that attacks or hacks the system. This malware is named after the Trojan horse from ancient Greek history.
5. Ransomware: Under this attack, the attacker encrypts the data on the host system and demands a ransom in exchange to allow access to the system and data again. Ransomware attacks range from low-level episodes to serious incidents like the 2018 locking down of Atlanta’s entire city municipal government data.
6. Distributed Denial of Service Attack (DDoS): When an attacker takes control over several devices and uses them to target the functions of a system. For example, causing the crash of a website from an overload of demand.
7. Data Breaches: A data breach involves data theft with malicious intent. The data breach could be carried out with the intention of identity theft or to embarrass an institution or for espionage purposes.
8. Malware on Mobile Apps: Just like other computing devices, mobile devices are equally vulnerable to malware attacks. Malware can be embedded in the system through app downloads, mobile websites, or phishing emails and text messages. Once the mobile device is attacked, the attacker can get access to all personal information, location data, financial accounts, and more.

What are the current cyber security threats? Which are the top cyber security threats for 2021?

As we have seen above that cyber security attacks are on a rise and expected to target more and more businesses in the coming years.

As a small business owner, you need to understand the importance of data security. Even if you have outsourced your IT services, it is useful to know about the technology threats your business faces.

Integral Choice offers managed IT services and network security. As a privately owned business, we understand how important data and IT security is for any business.

Below mentioned are the top cyber security threats Integral Choice sees for small and medium businesses in 2021.

Working with a managed IT service company or cyber security company will help you protect your business from these attacks or threats.  Even if you have your own in-house IT department, we would recommend you to consult a professional cyber security company to ensure your systems and data is secure.

1. Phishing:

Due to the ever-increasing interactions and communications on electronic devices, Phishing has become one of the most common cyber security threats in today’s digital world. Phishing can become one of the biggest cyber security threats with the growing dependency of the business world on email and instant messaging.

Today offices exchange hundreds of emails and electronic messages every day.  By the end of the day when the employees are tired, the attackers choose this time to bombard them with fake emails and links.

When tired, humans are susceptible to making bad decisions. Even if one employee clicks on a malicious link, it can give access to the whole company’s system, resulting in security and data breaches.

2. PDF Scam

Similar to phishing, PDF scams have the sole aim to induce the recipient to open it and unknowingly download malware onto the system.

An email is sent to the recipient with a message, often stating that there has been an update in the security policy or an account statement is attached. When the PDF is clicked or downloaded, malware or Ransomware is downloaded on the computer.

Unlike email phishing scams, PDF scams don’t ask the recipient to open a link to give information. People are slowly getting aware of phishing scams and are wary of clicking on links sent. However, people may open a PDF if they believe it to be a statement or security update. PDF attachments are constantly shared in offices through emails or other messaging platforms.

Therefore it is very easy for an employee to let his guard down and open a PDF when received in an email or other communication.

3. Credential Stuffing

Credential stuffing is an attack planned for stealing user access of a system or account through login credentials.  This is common where the same login credentials are used on different websites and accounts.

With more and more business operations going online, credential stuffing can be considered to be the most to be a significant threat to business cyber security in 2021.

4. Database Exposure

Database exposure is a security breach that exposes the data to a hack or theft. Through social engineering attacks, hackers try to steal login credentials or use malware to gain access to the data or system.

Most of the companies store crucial customer information, financial details, or identity records like Social Security numbers in their database.

Since most of the companies host their customer information on external servers, we at Integral Choice believe that database exposure can be a significant business cyber security threat in 2021.

Conclusion

In a world that is connected by the internet, the need for cyber security has never been more critical. It is important for a business to keep its software and hardware updated, train its staff about the different cyber security threats and how to avert them.

It is advisable to partner with a professional Managed IT service provider who can secure your systems and software.

Integral Choice is a Telecommunication and Cloud Agency which offers managed services, including, IT cyber security, compliance services and solutions for HIPAA and PCI.

Our range of cyber security consulting and managed security services include security assessments, testing services, governance, risk, compliance consulting services, and email phishing attack simulation testing and training.

Contact us to speak with our Managed Network Security Professional at Integral Choice to know more about our managed network security services. We would be more than happy to answer your questions about the services we offer and work to find a solution!