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Cyber Security Challenges For Your Business

Updated May 10, 2022
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We are in the digital era, a society devoid of flying cars or most of what we imagined these times to be, but one thing is for sure: the world has never been more advanced and sophisticated as it is now. Given the impressive technology and the advantages it promises, it’s no wonder businesses have been in a rush to undergo digital transformation.

The global digital transformation is in full gear, and the future is looking more digital than ever. Indeed, the potential of digitalization is something no company can oversee. From increased efficiency to improved customer experience, the advantages are endless.

However, amidst the redefinition of business operations, attacks and threats in the digital space have increased. Digital interconnectedness is a double-edged sword—it presents several security challenges many organizations are unprepared for.

Cybersecurity Challenges of Businesses

Businesses are more vulnerable to cyberattacks than they think! To attain success in the Fourth Industrial Revolution, it’s crucial for companies to not only make use of the newest digital tools but also recognize threats and how to combat them. Being aware of your company’s cyber security challenges is the first step.

Make sure to be vigilant against these common cyber security challenges for businesses:

  1. Failing to Recognize Your Vulnerability

Cybercriminals don’t discriminate between businesses. No matter how big or small an organization is, every company is a target for cybercriminals—they continue to lie in wait until they find an opening and wreak havoc.

Many small business owners mistake obscurity for security, thinking that no one will attempt to attack their organization as they don’t have as many sales or customers as their rivals. On the contrary, small businesses are more frequent targets of cyberattacks!

Forty-three percent of cyber attacks are aimed at small businesses, but only 14% are prepared to defend themselves. You do not want to be one of the 14 percent! When you are constantly aware that your business is being targeted, the more vigilant you will be and the less likely it is to fall, victim.

  1. Adapting to Remote Work

The pandemic may have accelerated the digital transformation of many companies and forced them to adapt to a work-from-home setup, not all businesses have successfully transitioned. As such, the distributed work environment presents cyber issues that employees wouldn’t have encountered before.

For every employee that works remotely, the higher your company’s cyber security risk becomes. The next thing you know, hackers have stolen confidential data while your team is holding a remote meeting!

The cyber security risk is a big disadvantage of the remote working setup, despite its benefits. Since remote employees often don’t have security protections traditional offices enjoy, this means higher chances of a security breach. When your company heavily relies on technology and conducts operations almost entirely online, the more your business will be attractive to ill-intentioned individuals.

From emails to instant messages, all information being shared online can be stolen. To protect your company, it’s crucial to protect your remote workers, ensuring that you don’t leave an opening for cybercriminals to take advantage of.

  1. The Evolution of Ransomware

Ransomware evolves along with technology. From executing an attack through an infected computer disk to a Trojan disguised as a legitimate file, it is apparent that ransomware attacks adapt to the times. This type of malware is particularly dangerous, as the data will get locked until payment is given.

Although it is possible to recover corporate and customers’ data, the damage to a company’s reputation is irreparable. As such, the best way to defend a business is to build impenetrable protection against ransomware attacks. With the right protection, you can avoid cybercriminals from gaining unauthorized access to company information.

  1. Security Risks of Serverless Apps

Securitylock

Going serverless is convenient for developers, as one won’t need to consider securing a server as with a server-hosted application. However, going serverless does not mean being immune to cyber security risks.

While the serverless approach reduces the burden for security concerns, serverless apps such as web services and data processing tools invite cyber attackers to spread threats on their systems while doing nothing to keep them away from confidential data.

Despite the advanced features of modern technology, one cannot place too much confidence in it, especially when it comes to cyber security. Sincere serverless models don’t use detection system software or firewalls, you must figure out an approach to defeat cyber criminals.

Final Thoughts

The state of your business’  cyber security will have an impact on your future success or failure. Don’t let a cyber attack hold you back—make sure to practice the essential cybersecurity initiatives for everyday safety so that you can continue your operations without the worry of hackers gaining unauthorized access to sensitive data. When you overcome the cyber security challenge, the more likely that your company will grow and thrive in the digital age!

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