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Top 7 Trends Shaping Digital Transformation In 2023 – Cybersecurity

Top 7 Trends Shaping Digital Transformation In 2023 – Cybersecurity

#6 How Cybersecurity Defenses Can Help Protect Against Increasing Threat Complexity

As the world advances with the use of technology, so do the threats to our security. While many organizations tend to have measures to prepare for such attacks, many still fall victim to cybercrime. In 2022, according to einnews.com, cybercrime damages cost the entire world an estimated $7 trillion USD, with organizations suffering an average of more than $2.5 million in costs per incident (malware attacks).

With this newfound complexity in the world of cyber security, it is important to build up your cybersecurity defenses. By having a comprehensive system in place that includes detection, response, and prevention strategies, you can better mitigate the risks associated with cyber threats. Layering your security will help to protect against more sophisticated attacks, as well as traditional ones.

Different Types of Cybersecurity

Thankfully, there are different actions that you can take in order to strengthen your security and help protect against the increasing complexity of cyber attacks. To give you a better understanding of the types of defenses you should consider, here are some of the most commonly used:

Critical Infrastructure Security

Critical infrastructure protection includes systems like power grids, electrical grids, banking networks, national public health and safety, and more that are part of the public utility system. Actions such as access control, secure communications protocols, secure operating procedures, and more are all important when it comes to protecting these critical infrastructure components.

Application Security

Application security is the process of protecting applications from vicious software and attacks. Proper authentication and authorization, encryption, strong coding practices, and secure deployment strategies are some of the very important aspects of application security.

Network Security

Network security is the practice of protecting networks from malicious software and attacks. This consists of different measures such as firewalls, virtual private networks (VPNs), intrusion detection systems (IDS), and more preventing things like unauthorized access, misuse, modification, or destruction of network traffic.

Cloud Security

In a recent article posted by techjury.net, it is said that 90% of enterprises around the world are using multi-cloud strategies for their businesses. Access control, encryption, identity and access management, and security monitoring are some of the important elements of cloud security.

Internet of Things (IoT) Security

Safeguarding the Internet of Things (IoT) consists of secure coding practices, secure device configurations, software patching and updating, authentication, authorization, and more. This is where the installation of malware on the device, gaining access to personal data of a company, and potentially deploying malicious codes become possible.

The Benefits of Cybersecurity Defenses

While protecting the data of a company is the primary focus, there are many great benefits that come with a well-developed cybersecurity system. Cybersecurity defenses help protect your organization from data breaches, malicious software, and even APTs (Advanced Persistent Threats).

Gain Control Over Risk Management

Preparedness is key when it comes to Risk Management. The more your organization knows about the threats, the better prepared they are to respond and mitigate any damage that may result from an attack. By gaining control over risk management, you can prioritize the most important assets and establish a comprehensive cybersecurity defense strategy.

Adapting to Evolving Risks

The threat landscape is constantly changing, and cybersecurity defenses must be adapted to match. By investing in a layered and integrated defense system, you can ensure that your organization is always up-to-date with the latest cybersecurity threats. This means that you can more easily react and adjust your defense in response to changes in the threat landscape.

Protecting Your Reputation

The reputation of a company is invaluable, so safeguarding it should be a priority. Cybersecurity defenses help ensure that any potential breach or attack is identified quickly and dealt with appropriately. This can help maintain customer trust and prevent further damage to your company’s reputation.

Reduce the Overall Cost of Security

By investing in cybersecurity defenses, you can reduce the overall cost of security in your organization. By having an integrated and layered system in place, you can minimize the number of security personnel needed to manage it, reducing labor costs. Additionally, a well-developed defense system can help prevent malicious attacks, saving hundreds or even thousands in recovery costs.

Different Cyber Threats That Can Compromise Your Cybersecurity

Moving forward, it is important to stay aware of the different types of malicious threats that could compromise your cybersecurity. That being said, here are five of the most common cyber threats you should be aware of:

Extortion

Extortion or cyber extortion is when cybercriminals attempt to gain access to a system in order to demand payment or sensitive information. The two common types of cyber extortion include ransomware and DDoS (distributed denial-of-service) attacks.

Identity Theft

Another common type of cyber threat is identity theft. This is when criminals try to gain access to personal data in order to use it for fraudulent activities.

Personal Data Breach

Data breaches occur when personal or confidential data is illegally accessed, stolen, or shared. The resulting damage can range from financial losses to reputational damage, so it’s important to be aware of this risk and take measures to protect your organization against it.

Phishing

Phishing is an attempt to acquire sensitive information by masquerading as a legitimate entity. This can be done through emails, text messages, or social media. Links that are included in these messages can contain malicious software designed to steal your data.

Non-payment

This is a type of scam that involves goods or services being provided without payment. This is typically done through false promises of payment or attempts to manipulate users into providing their personal information.

The Bottom Line

With all of these threats in mind, it is essential to put the proper cybersecurity defenses in place. Layering and integrating these defenses can help protect your organization against the ever-evolving complexity of cyber threats. Taking the necessary steps to secure your organization is worth the effort and will provide peace of mind in knowing you are as safe as possible from malicious actors.

If you are interested in learning more about cybersecurity or in need of any digital marketing services, feel free to contact us here PERC. Our team of highly skilled digital marketing professionals is here to help you succeed.

Sources

https://www.embroker.com/blog/cyber-extortion/#:~:text=Cyber%20extortion%20occurs%20when%20cybercriminals,Distributed%20Denial%20of%20Service)%20attacks.

https://www.geeksforgeeks.org/cyber-crime-identity-theft/#:~:text=Identity%20theft%20happens%20when%20someone,another%20person%20to%20make%20transactions.

https://www.cyberark.com/what-is/data-breach/#:~:text=A%20data%20breach%20is%20a,personally%20identifiable%20information%20(PII).

https://www.boozallen.com/s/insight/blog/future-of-cybersecurity.html

https://www.comptia.org/content/articles/what-is-cybersecurity

https://purplesec.us/resources/cyber-security-statistics/

https://www.travasecurity.com/blog/7-benefits-of-proactive-cybersecurity

https://digitalguardian.com/blog/cybercrime-cost-us-69-billion-2021#:~:text=The%20FBI’s%20annual%20look%20at,Center%20(IC3)%20report%20(.

https://www.fbi.gov/how-we-can-help-you/safety-resources/scams-and-safety/common-scams-and-crimes/holiday-scams#:~:text=Conversely%2C%20a%20non%2Dpayment%20scam,people%20more%20than%20%24337%20million.

https://en.wikipedia.org/wiki/Advanced_persistent_threat

https://en.wikipedia.org/wiki/Network_security

https://en.wikipedia.org/wiki/Application_security

https://en.wikipedia.org/wiki/Critical_infrastructure_protectionhttps://purplesec.us/resources/cyber-security-statistics/#:~:text=The%20global%20annual%20cost%20of,needed%20to%20resolve%20the%20attack.

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