Cyberattacks have been steadily increasing in frequency across the world as we move into a more digital age. As our technology improves and gets more complicated, criminals become more clever and take advantage of the inexperience of most computer users to gain access to networks and sensitive information. Cybercrime is one of the fastest-growing industries in the Western world, occurring nearly every fifteen seconds. Today, businesses have to focus more of their time and energy on protecting their networks and data from infiltration to avoid massive financial losses.
Nearly 1% of our global GDP is spent on cybercrime annually–that’s about $1 trillion just this past year. Most of that total comes from the money that businesses and agencies have lost to criminals during these attacks. In 2020, roughly $945 billion was stolen from these companies, while $145 billion was spent improving and increasing their cybersecurity. Although so much money goes into strengthening IT infrastructure worldwide, only 80% of these organisations actually invest in their defenses. The other 20% have no set structure to protect their networks and data from hackers, which only provides these criminals with more potential victims.
Our global economy is steadily moving towards complete digital transformation. Cloud-based computing systems have become the predominant infrastructure for most of the world yet pose a significant risk for everyone that uses it. Despite the effort to strengthen these networks, cloud misconfigurations are common and are expected to increase. Many individuals and companies alike have suffered from their hackers accessing their private information through their cloud accounts. Experts report that more than 30 billion personal records have been breached and exposed by weak cloud systems.
Cloud storage and infrastructure face the most significant amount of cyberattacks and are typically the primary concern for companies dealing with their IT security. 98% of these threats come as malware or ransomware, which the hackers can either slip into the network or get the user to download themselves. The most successful type of attack is through email, where these criminals distribute malicious content to unsuspecting victims who click the wrong link and accidentally infect their own networks. It is estimated that 92% of malware is sent via email.
Ransomware is a type of cyberattack where criminals gain access to a network and hold it for ransom. If they don’t receive payment for it, they will expose any sensitive data and client details. Many businesses struggle with deciding to pay the fee or ignore the criminals and call it a loss. Most experts would agree that you should never settle since it sets you up as an easily exploitable future target. Your business should avoid falling victim to this financial risk by investing heavily in IT security solutions and creating a contingency plan if your network is attacked. If you already have a recovery plan in place, you won’t be as concerned if you lose your data.
Creating employee training programs is one of the best strategies for businesses to secure their networks and data. Most breaches occur due to the staff’s complacency and lack of IT awareness. Even a simple mistake can have severe consequences for a company’s infrastructure. They should invest in their employees’ education to minimise their risk of a cyber threat. When workers have basic knowledge of cyberattacks and practice good computer habits, they help stabilise the cloud network and protect the business from hackers.
Additionally, as more and more businesses move away from office locations and embrace remote working, they need to increase the protections around their cloud storage. Many organisations turn to IT service providers to ensure their networks are monitored around the clock and protected from potential threats. These third-party IT companies provide greater security and access to resources the business might otherwise never attain. Their applications and technological management are incredibly beneficial for any organisation looking to shift its focus to a secure virtual workplace.
It is crucial that your business takes a proactive stance on cybersecurity and fortify its defenses as much as possible. Your IT network should contain layers of security measures such as multi-factor authentication, employee training, limited administration access, and third-party management. To protect yourself, you must ensure that you have constant monitoring and rapid detection, as well as a recovery plan if you do happen to be attacked.
The demand for cybersecurity is constantly rising, making it an excellent career choice for anyone interested in the tech and IT world. Companies are frequently on the lookout for capable computer specialists trained in dealing with cybercrime to help them defend their infrastructure. The number of potential jobs is expected to increase by 35% within the next year, providing a fantastic opportunity for anyone looking to jump into this field. Cybersecurity is essential in nearly any industry or sector of the world and has massive influence over the success of an organization.
Educating your workers and implementing safe computer habits is crucial. Still, it is not enough to ensure your safety. Instead of only focusing on current employees, you also need to recruit competent security analysts to your IT department so they can assist your business from the ground up. These specialists will develop a solid framework for your network and work together with any third-party service provider you have to maximise the tools and resources in security operations.
Cybercriminals are constantly evolving, often faster than IT security can keep up. Ransomware is one of the biggest challenges to businesses, as it threatens their entire network and financial stability. Cyber threats will only increase over the next year and become even more complex, so you must set your business up for success by investing in cybersecurity. It is best to acknowledge that you won’t stop a cyberattack from occurring, especially from organised criminal gangs–you only want to make it as difficult for them as you can.
If you like the sound of the ‘hands-off’ experience and having your IT and Cybersecurity taken care of by highly trained professionals, we would love to hear from you. Call our friendly team of experts on 0345 314 2001 for a relaxed chat about how we can make all this happen for you.
Alternatively, feel free to email us from our contact page here.
Our team is ready and waiting to help in any way they can.
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