5 Most Critical Threats to Small to Mid-Size Businesses

/, Security, software, Tips/5 Most Critical Threats to Small to Mid-Size Businesses

5 Most Critical Threats to Small to Mid-Size Businesses

As cybersecurity evolves from a cottage industry into big business, and government and industry have raised the awareness level around cybersecurity issues to new heights. The General Data Protection Regulation in the European Union is one of the most prominent controls, but industries throughout the world are facing heightened concerns. In the midst of businesses becoming GDPR compliant, cybersecurity measures have moved from purely technical, to political, according to a recent report from AlienVault.

The company surveyed 900 security professionals at the Infosecurity Europe 2018 conference to gain insight into the current state of cybersecurity threats. Some 56% of respondents said they believe that cybersecurity is becoming a political pawn.This shift indicates that cybersecurity isn’t only infiltrating personal lives, but society as well.

However, data issues like GDPR compliance, or lack thereof, shouldn’t be the only focus for businesses. Here are present top five cybersecurity concerns for professionals.

Phishing
Phishing is the reigning winner of internal threats, with nearly 55% of participants agreeing it is the most significant risk, said the survey. AlienVault explained that it’s the human element of phishing that makes it appealing to cybercriminals. Unfortunately, no single precaution can be used to prevent a phishing attack, continued the report.

Human error is the cause of most breaches, said the survey, highlighting the vitality of user awareness and education. However, AlienVault warned that user education alone isn’t enough—businesses need a multilayered defense of technology, processes, and people.

Ransomware
Ransomware (weighing in at 45%,) was the second-highest internal worry for professionals. Since ransomware is a highly public threat, business pros feel even more pressure, having to respond to the security breach in the public spotlight, said the survey.

The Cloud
Participants said they were growing concerned about possible attacks in the cloud, with 52% worried that cloud-based threats will become an increasing reality in the future. While the cloud is beneficial to businesses, it can quickly turn into a threat if not appropriately secured, said the survey. Cloud functionality is still so new, however, that most threats have yet to be realized, continued the study.

GDPR
Industry observers are still waiting for a breach with GDPR, but until then, it brings a host of different concerns for business, said the survey. Companies have been forced to rearrange and reorganize the management of customer records entirely, said the study. And failure to be compliant with GDPR standards can be a massive hit to businesses financially and socially, causing consumers to shy away from companies that don’t protect their data.

Cryptocurrency mining
Cryptocurrency mining is a relatively new trend, in which cybercriminals infect machines to commandeer their CPU power and steal Bitcoin, said the survey. Businesses still have some work to do to stay protected, with 29% of respondents not confident in their cryptomining protection and 24% unable to detect cryptomining activity.

If you are concerned about any of these threats in your business, contact Upward’s Cybersecurity division today to discuss opportunities for protecting your company.

By |2018-08-29T14:26:47+00:00August 29th, 2018|Blog, Security, software, Tips|0 Comments

About the Author:

Leave A Comment