The Coronavirus (COVID-19) pandemic is increasing tremendously and disrupting the global health at large extent, in addition to the damages to economics, social and political systems. More importantly, the digital world is also on the verge of destruction because, due to this menace, the people at large scale are compelled to work remotely and doing so will make them rely heavily on remote communication and digital tools. The cyber attackers are capitalizing this situation and attempting to compromise the confidentiality, integrity, and availability of data.
Undoubtedly, majority of new businesses based on most of their work and financial transactions online for simplicity and agility in dealing with the dynamics of the market. In addition, the big corporations already are mostly migrated from the legacy systems to the online world for a while now in a way that made all offline transactions outdated and simply obsolete.
In the age of the digital world, cyber threats and vulnerabilities have gained the attention of security leaders as well as countries across the globe. The issue of cyber warfare is no longer limited to organizations. Rather, even state-sponsored cyber-attacks are being organized and launched against enemy states. Reuters news agency in the UK reported that the Carnegie Endowment for International Peace discovered that cyber-attacks on financial institutions are increasingly being linked to nation-states and the damages were disruptive and destructive, rather than just theft. The majority of nation-state attackers belonged to North Korea, China, Iran, and Russia.
Cybersecurity threats are evolving and the IT industry is on high alert. Modern cyber threats are more sophisticated and fast such as malware, phishing, cryptojacking, and IoT threats. The major cyber-attacks in 2019 witnessed that cybersecurity defenses were inefficient to prevent cyber threats altogether. The situation will even prevail in 2020. However, mitigation strategies can help to minimize the chances of data breaches.
In this article, we will explore some most harmful cyber threat types and prevention techniques that organizations must be aware of to thwart cyber-attacks.
Over the past couple of years, cyber-attacks have been increasing both in frequency and sophistication. 2019 also witnessed a surge in cyber-attacks and many companies were suffering a huge financial and reputational loss. According to CISCO, DNS hijacking and targeted malware were the serious cyber threats of 2019, along with various others. Cyber pests were using various tools to capture data and evade detection, from Remote Access Trojans (RATs) to hide threats in encrypted traffic.
In addition, as per the 2019 Cybersecurity Report, published by the National Defense Industrial Association (NDIA), 44% of organizations with more than 500 employees have experienced a cyber-attack. In this article, we would explore some data breaches that were grabbing the attention of cybersecurity companies in 2019 and even beyond.