Key cybersecurity challenges organizations face
Usually, when many people think about public cyberattacks and data breaches, they associate large organizations' issues. However, all businesses are prone to cybersecurity threats, irrespective of their size and nature of operations. According to a Ponemon Institute report, small startups tend to incur disproportionately higher costs than large ones after a data breach.
Startups are more vulnerable to cybersecurity threats, as they have limited resources and experienced personnel for planning. Generally, data is one of the most vital assets for all organizations. Nowadays, organizations are experiencing more cyberattacks due to advancements in technology. Here are some of the most common challenges:
Data Breach
For many companies, a data breach can be disastrous. No business would want to experience the compromising of confidential customer information and valuable internal data such as transaction history and inventory lists. Besides the immediate financial losses, a data breach can lead to a loss of customer faith.
There are several potential causes of data breaches. One of the common reasons is unresolved vulnerabilities. Although experts have identified some of the most common security challenges over the years, many of them remain unfixed. Human errors are also significant causes of data breaches.
Ransomware
Ransomware refers to viruses that encrypt an organization's digital files and allow cybercriminals to demand a large sum of money to get it back. There have been many reports of ransomware and victims in recent years. Most cybercriminals require business owners to send the ransom in bitcoins due to the difficulty in tracking. Additionally, they don't discriminate and can attack any company regardless of the potential risks.
DDoS Attacks
Every business should prepare and have a detailed plan for managing DDoS attacks against their systems. There are several ways cybercriminals can perpetrate attacks. Application layer attacks are the most common and aim to disrupt a company's access to its website.
Hacktivism
Hacktivism is becoming a significant problem for businesses. Usually, hacktivists belong to a hacker network with similar ideologies. Controversies can make you a potential target for cybercrime. Some of the past victims include politicians, oil companies, and pharmaceutical companies. Cyberattacks can take several forms.
Fake Ads and Online Reviews
Nowadays, consumers are constantly bombarded with ads on various online platforms. The increased incidences of fake ads have led to mistrust in web-based marketing techniques. Other common issues that have worsened the problem include purchased "likes" and false customer reviews. The attacks affect even organizations engaging in legitimate marketing campaigns.
