Cybersecurity challenges are increasing on an exponential scale. The use of cryptocurrency, machine learning, artificial intelligence, and phishing are just some of the latest threats that place data at risk. There are also increasing risks associated with our reliance on fragile connectivity. Ransomware hijacking the Internet of Things is just one of these risks. Furthermore, intentional misinformation is tainting the credibility of information. As a result, companies are under increasing pressure to improve their security and prevent cyber attacks from affecting their bottom line.
Today, most organizations are aware of the dangers of clicking on links in emails or opening malicious attachments. However, this does not mean that organizations can ignore the risks associated with this. Hackers are increasingly using machine learning to craft convincing fake messages. These messages could steal user login credentials, credit card numbers, personal financial information, and even private databases. Therefore, organizations must take every precaution possible to keep their systems and networks safe from these threats.
Across the globe, a major cyberattack could disrupt military or civilian activities. In addition, terrorists could attack civilian targets and websites. Furthermore, organized crime groups are actively infiltrating systems for monetary gain. These attacks are commonly conducted by phishing and spam email messages, and sometimes by hackers who sell their services for a price. This means that if you’re using cloud services, you’re in a prime target.
Unfortunately, many companies, government agencies, and other organizations struggle to recruit cybersecurity professionals. Because of the escalating nature of this threat, many cybersecurity positions are unfilled. The shortage is predicted to continue into the next decade, with some estimates showing that there are one million unfilled positions worldwide and 3.5 million by 2021. To keep up with this increasing threat, companies and organizations must develop a skilled digital workforce. And they need to do it quickly.
One of the Biggest Internet Security Challenges is the increasing use of third parties. Third party employees pose a significant risk to businesses, but most corporations lack the infrastructure and dedicated team to monitor and protect these employees. Furthermore, cybercriminals are becoming increasingly sophisticated and more sophisticated, and organizations need to make the right decisions when entrusting sensitive data to third-party employees and partners. In 2021, U.S. Customs and Border Protection will join this list of high-profile victims.
A third of 2020 breaches involved social engineering techniques, including phishing. Phishing attacks exploit human psychology and rely on social engineering to manipulate user psychology to obtain sensitive information. In fact, 95% of enterprise network breaches involved successful spear phishing attacks. Another major challenge is Twitter, where phishing attempts soared by 667% in March. Furthermore, Texas schoolchildren were hacked and lost $2.3 million.
In addition to these challenges, cyber adversaries do not respect the boundaries of countries and do not comply with different jurisdictions. Additionally, organizations have to navigate a complex web of regulations. For example, data protection regulations and privacy regulations can result in conflicting priorities that weaken a company’s defensive systems. To meet the demands of both, organizations must balance their efforts. The Biggest Internet Security Challenges