Why Cybersecurity is Important in 2023?

The world is heading towards a digitized phase at a very fast pace. And this results in ample opportunities for cyberattacks to play their games. Now, all the organizations store their data in digital formats only, barring a few ones. And they are also in the transformation process of becoming fully digitized. This trend has been rising even more since the pandemic struck the whole world. Hence, the need for cybersecurity is on the rise.

Why Do We Need Cybersecurity?

1. The Rise in the Reliability of Cloud Services

The global cloud revenue is already touching new heights, and it's going to rise further only in the future. Businesses are moving towards cloud services due to the great extent of scalability as well as flexibility that it offers. And cyberattacks accompany this usage of cloud devices as well if the cloud environments are not secured. It becomes even easier for hackers to gain access to your sensitive data when you are storing it on unsecured cloud devices.

2. The Omnipresence of the Internet of Things (IoT)

IoT is a network of systems and devices which are linked to the Internet. Security cameras and thermostats are some of their examples. The count for IoT devices is estimated to cross 43 billion by 2023.

The main problem with it is that some IoT devices do not possess the kind of security that traditional computers possess. And this enables the hackers to take advantage of it by accessing networks, stealing information, and controlling linked devices.

Cyber Threats That are Prevailing in the Industry

let us move on and skim through the given main cyber threats:

1. Phishing

Phishing refers to a scam that involves sending fake messages to the victims, prompting them to click on unsecured links and reveal sensitive data. Traditionally, emails have been the most common channels for such cybercriminals to fraud people. But phishing has even more evolved with the introduction of other ways such as business messaging software, video conferencing, and SMS.

2. DDoS (Distributed denial-of-service)

Analysts believe that Distributed denial-of-service cyberattacks are going to be the most popular cyberattacks in 2022. The main aim of these kinds of attacks is to disrupt the work progress of the business and gain financially from them. This is achieved by crashing the server or website of the given business by sending a vast pool of traffic to it. These kinds of attacks are usually undertaken with botnets consisting of several malware-infected device networks. Again, it becomes tough for traditional security systems to identify and prevent such tricks.

3. Ransomware

The data is encrypted by the attackers by the attackers, and the payment of ransom is demanded in return for the decrypted data. These types of cyberattacks particularly are getting more detrimental since the companies result in paying huge amounts just to get their data back. Even a single strain can shut down the Colonial Pipeline. And they had to pay $5 million to the hackers to get back their systems' control and resume operations.

The most attractive industries to these hackers include financial services, IT, and healthcare. In fact, for those attackers with no experience in coding, a subscription-based model for ransomware has also been developed. This makes it necessary for companies to ensure security from such ransomware well in advance.

4. Theft of Password

It is a kind of attack that we all can prevent. But usually, we don't pay much attention to it, and it results in major cyberattacks taking place. A lot of people and organizations still use conventional and easy passwords such as "123456" or their birth dates. This is no tough task for hackers to get access to these super easy passwords. Moreover, a lot of people have the tendency to use the same password for multiple applications and sites. Hence, a single attack by these scammers can lead to the loss of access to the data stored in all your software and accounts.

How to Ensure Security From Cyberattacks?

There are several security strategies available that can be deployed to ensure the security of your networks. You can refer to some of the main ones that are given below:

• Use the technologies of sandboxing and intrusion prevention for security against more sophisticated techniques.
• Install and keep updating the anti-malware software and firewalls.
• Keep your data backed up to reduce the effects of loss of data.
• Utilize the tools for filtering emails to steer away from potential scams and spam.
• Keep educating your employees to treat every call, message, and email with great caution and not get scammed.
• Enable the authentication via multifactor methods as well as password managers for the defense against data theft.
• Create an instant reaction plan for response against any occurrence of cyberattacks in the organization. It should contain comprehensive techniques to tackle such instances.
• Restrict the access to your sites and network based on the user location, user role, device permissions, etc.

Final Thoughts

Cyberattacks can lead to drastic consequences. Firstly, it would have a severe impact on the reputation of your business. People would lose trust in you and discontinue using your services. Additionally, you might lose users meanwhile you are busy resolving the cyberattacks. And this would provide a lucrative option to the competitors to grab this chance and steal your customers. Hence, this makes it extremely important that you have taken all the necessary measures beforehand to avoid such cyberattacks in the future. It is always better to prevent it before than to repent later. Take this advice seriously if you don't want any chance of losing access to sensitive data.