There are too many cyber security threats to name all, but we will go over some of the most common ones. Ransomware attacks involve hacking into users’ data and preventing them from accessing it until the ransom is paid. It is detrimental to companies, but even after they pay the ransom, most times the hackers don’t release the data anyway. It has become a large problem in India as 82% of Indian companies were hit by ransomware in the past 6 months in 2020. IoT attacks are also very important to take notice of as there are currently over 10 billion IoT devices in the world, and the number is growing exponentially. These IoT devices include mobile phones, laptops, etc. which can expose and leak a lot of personal information, virtually the most important thing a person owns. Cloud attacks are hacking into a cloud platform to steal user data, it is one of the biggest challenges for businesses. There is a high risk of collapse after a cloud attack. Phishing is also mentioned a lot as hackers steal the login credentials and passwords for their benefit, such as shopping online with credit card information. Unlike ransomware, the information is not blocked off. There are many more advanced cyber security threats, but as technology is slowly ingrained in our lives, and even inside our bodies, it becomes more important to prevent them. Other examples of cyber security threats include: blockchain and cryptocurrency attacks, software vulnerabilities, machine learning and AI attacks, BYOD policies, insider attackers, outdated hardware, and more.

The first step is to secure your networks and databases by setting up firewalls and encrypting information. This is the first layer of protection you can give to your business data. To promote better security within the company, educate your employees on the importance of security as well as company security policies and practices. Although there will always be a risk of a cyber attack, conduct regular audits to review and assess the cyber protection in place and prevent the attack as soon as there are signs. Make sure to identify your most sensitive data - such as personal information, accounting, and payment data as well as intellectual data that took years to form and build - before anything else!

Very significant. In this technological era, more and more personal information is placed in cyberspaces, which are vulnerable to being attacked. As IoT interconnectivity and our reliance on derived data increases, cyber security threats are more prevalent. Take steps to protect yourself and your privacy by reading our blog and our article about the 10 IT security best practices.