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Cyber Security Focus

A host of new and evolving cybersecurity threats has the information security industry on high alert. Ever-more sophisticated cyberattacks involving malware, phishing, machine learning and artificial intelligence, cryptocurrency and more have placed the data and assets of corporations, governments and individuals at constant risk.

The industry continues to suffer from a severe shortage of cybersecurity professionals and experts warn that the stakes are higher than ever, as the cybercrime epidemic

So far, our clients have identified an increased potential for:

  • Disruption — Over-reliance on fragile connectivity creates the potential for premeditated internet outages capable of bringing trade to its knees and heightened risk that ransomware will be used to hijack the Internet of Things.
  • Distortion — The intentional spread of misinformation, including by bots and automated sources, causes trust in the integrity of information to be compromised.
  • Deterioration — Rapid advances in intelligent technologies plus conflicting demands posed by evolving national security and individual privacy regulations negatively impact organisations’ ability to control their own information.

With damage related to cybercrime projected to hit 6 trillion annually this year, here is a closer look at our top 3 of the most significant cybersecurity threats today:

Phishing Gets More Sophisticated — Phishing attacks, in which carefully targeted digital messages are transmitted to fool people into clicking on a link that can then install malware or expose sensitive data, are becoming more sophisticated.

Now that employees at most organisations are more aware of the dangers of email phishing or of clicking on suspicious-looking links, hackers are upping the ante — for example, using machine learning to much more quickly craft and distribute convincing fake messages in the hopes that recipients will unwittingly compromise their organisation’s networks and systems. Such attacks enable hackers to steal user logins, credit card credentials and other types of personal financial information, as well as gain access to private databases.

Ransomware Strategies Evolve — Ransomware attacks are believed to cost victims billions of pounds every year, as hackers deploy technologies that enable them to literally kidnap an individual or organisation’s databases and hold all of the information for ransom. The rise of cryptocurrencies like Bitcoin is credited with helping to fuel ransomware attacks by allowing ransom demands to be paid anonymously.

As companies continue to focus on building stronger defences to guard against ransomware breaches, some experts believe hackers will increasingly target other potentially profitable ransomware victims such as high-net-worth individuals.

IoT Attacks — The Internet of Things is becoming more ubiquitous by the day It includes laptops and tablets, of course, but also routers, webcams, household appliances, smartwatches, medical devices, manufacturing equipment, automobiles and even home security systems.

Connected devices are handy for consumers and many companies now use them to save money by gathering immense amounts of insightful data and streamlining businesses processes. However, more connected devices mean greater risk, making IoT networks more vulnerable to cyber invasions and infections. Once controlled by hackers, IoT devices can be used to create havoc, overload networks or lockdown essential equipment for financial gain.

A Severe Shortage of Cybersecurity Professionals — The cybercrime epidemic has escalated rapidly in recent years, while companies and governments have struggled to hire enough qualified professionals to safeguard against the growing threat. This trend is expected to continue into 2022 and beyond, with some estimates indicating that there are some 3+ million unfilled positions worldwide

We have seen a massive shortage of skilled cybersecurity professionals, this trend continues to be cause for alarm since a strong, smart digital workforce is essential to combat the more frequent, more sophisticated cybersecurity threats emanating from around the globe.

Interested in finding out how Stackstudio can help you with your Cyber Security talent demands? get in touch with shane.s@stackstudio.digital

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