Businesses need approximately 197 days to identify and 69 days to contain threats like these. Prolonged incidents cause unplanned downtime, lower levels of productivity, and financial and operational losses. Businesses need practical and valuable cybersecurity programs and threat intelligence tools to combat these attacks.
What Are the Top Threats to Cyber Security Today?
Organisations can adapt and enhance their IT postures to prepare for constantly evolving attack vectors. Different industries rely on different technologies, so leaders need to know the specific weaknesses of the systems they use. In general, though, the most common types of attacks are identity theft, phishing, spear phishing, and spamming.
Besides these, other malicious activities like brute-force attacks, ransomware, and other complex techniques that hackers use to create data breaches and exploit vulnerabilities. Cybercriminals are always looking for opportunities to leverage crises—this is evident in the COVID-19 pandemic.
In 2020 the U.S. Department of Homeland Security and the Cybersecurity and Infrastructure Security Agency released a joint alert on “COVID-19-related themes” in cybersecurity threats. Examples are malware distribution using coronavirus news, infected links on new domains related to COVID-19, and phishing attacks using coronavirus as a lure. Brute-force attacks on teleworking infrastructure have also become common.
According to IDG’s Pandemic Impact Survey, the severity, volume, and scope of cyber-attacks have increased 26 percent since March 2020. Organisations must know how to detect and mitigate these threats, promote cybersecurity awareness among members, and enhance threat intelligence. They also need to conduct thorough and regular risk assessments.
The Benefits of Having Risk Assessments
The first step to improving your cybersecurity program is by knowing the current state of your infrastructure. Consider all of the systems, networks, devices, and data stores your company uses and perform tasks that ensure security. Here are things you should accomplish during your company’s annual risk assessment.
1. Classify Identifiable Threats
Organisations should start with cyber threat intelligence. You should know the sources of cyber threats to your brand, document suspicious events, and note vulnerabilities. If you have a database on attack vectors, you can categorise them based on their capacity to affect your operations. Doing this lets you prioritise high-risk threats and allows you to create a foundation for detection and mitigation.
2.Implement Security Controls
Using the information you have gathered, you can identify baseline security controls for your company. Having controls for systems, networks, and data is essential. You would also need to refine these based on developments like new vulnerabilities and threats.
3. Use Threat Mitigation and Detection
Besides security controls, companies should also invest in advanced cybersecurity tools. Technology like these will protect them from specific threats they detect from identifying threats. Vulnerability management software, remote monitoring platforms, and threat detection systems are examples of threat management tools.
4. Have Follow-up IT Assessments
After risk assessment, companies should still keep monitoring their systems and networks. Administrators should have follow-up assessments of the organisation’s security posture to ensure that the systems function as they should. The subsequent evaluations will help companies tailor response plans to specific threats or the weaknesses they spot after risk assessment.
Protecting your business in the digital age involves dealing with cyber-attacks. Proactive organisations keep their companies safe through risk assessment and implementing evidence-based processes. Even the best, most comprehensive security defenses experience incidents, so the best way to keep your organisation safe and productive is by preparing for threats and staying ahead of malicious actors.
Keep your organisation safe through actionable brand protection from FraudWatch International. Our dedicated team of specialists collects, analyses, and interprets threat intelligence data from around the world, and we have been providing top-notch online brand protection since 2003. Contact us today to learn more!