In today’s day and age, cybercriminals use increasingly sophisticated technology to launch coordinated attacks to exploit the vulnerabilities in a firm’s computer system. Organizations need to invest time and resources to update defense mechanisms according to the latest cyberattack methods.

From educating your employees to employing advanced cybersecurity software, all organizations – be it a local startup or an MNC – need to be on their toes all the implement impenetrable layers of defenses against potential attacks. Let us walk you through the top cybersecurity threats in 2021 and how to identify and neutralize them.

Biggest Cybersecurity Threats

Here are the most common cyber threats that managers need to stay abreast of:

  1. Social Engineering

Statistics show that almost a third of all successful cyberattacks in 2020 incorporated social engineering techniques. Such types of attacks involve imitating a legitimate person or organization and tricking a company’s employees to spill out confidential information, download malicious software, or give them access to restricted virtual places such as login credentials.

Social engineering attacks are sometimes referred phishing attacks – and all their methods revolve around manipulating human psychology to achieve illicit goals. Use of phishing emails of the most common social engineering attack.

  1. Ransomware/Malware

Of lately, ransomware attacks are taking cyberattack security by storm. Just as its name indicates, ransomware is based on a simple technique: breach and get access to a company’s private data and the users or the company to pay a ransom to get the files back.

The ransomware cyberattacks demand sore to at least $1.4b in the US in 2020 alone. Often, cybercriminals use malicious software or malware to hijack sensitive data.

  1. DDoS attacks

DDoS (distributed denial-of-service) attacks entail using a network of compromised computers, known as a botnet, to spam a target site with traffic. As a result, the site crashes when it’s unable to handle such a large number of requests. Often, the motive is to cause personal or political damage to the company/person by disrupting the system.

  1. Exploiting Third-Party Software

Most companies use one or more third-party software to carry out necessary functionalities. These tools often have a weak link and cybercriminals exploit these vulnerabilities to compromise the confidential data. The worst thing is if one of the applications in the system is hijacked, it opens the gateway to other domains.

Addressing Cyber Security Threats

Some of the most effective tactics to neutralize cyberattacks include:

Culture of Security: Encouraging a culture of cybersecurity where all the company’s dealing with the technology and policies and their implementation are crafted keeping in view of potential cyber threats.

The process involves taking risk assessments to gauge the possibility and severity of cyberattacks and analyzing the gaps in the firm’s security mechanism.

Test Security Systems Regularly: Use a patch management application to conduct penetration tests and vulnerability scans. It’d assess the efficiency of your defense mechanisms and ensure they are up to date to counter the latest threats.

Train Your Employees: Invest in training your employees about cybersecurity and teach them how to identify a cyberattack beforehand. Holding regular workshops, training classes, and short cybersecurity sessions make your employees unlikely to reveal confidential information.

Rely on Latest Technology

Cybercriminals use modern tech to launch sophisticated attacks which can be neutralized only by incorporating the latest, cut-throat cybersecurity technology in your firm’s processes. It’s imperative to teach your staff to get acquainted with the new technology and use it to prevent cyberattacks.

Hopefully, this article has helped you better understand the top cybersecurity threats and how to deal with them. Feel free to ask any questions.

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