As we become more reliant on technology and digital devices, new cybersecurity challenges arise. Here are the top 5 data security threats I am watching out for this year:
Ransomware Attacks
Ransomware attacks have become increasingly common in recent years. In these attacks, malware encrypts data on a device or network and holds it “hostage” until a ransom is paid. Recent high-profile ransomware attacks include:
- The WannaCry attack that affected over 200,000 computers across 150 countries in 2017.
- The NotPetya attack that caused over $10 billion in damages in 2017.
- The REvil ransomware attack on Kaseya that impacted up to 1500 businesses in 2021.
Ransomware is a huge threat because it can completely disrupt business operations. The average ransom payment was over $200,000 in 2021.
Data Breaches
Data breaches expose sensitive customer and business data to cybercriminals. Major data breaches seem to occur every few months. According to the Identity Theft Resource Center, there were 1,862 publicly reported data breaches in 2021.
Some major recent data breaches include:
- Facebook – 533 million user records exposed in 2021.
- Robinhood – 7 million user records exposed in 2022.
- Uber – 57 million user records exposed in 2016.
Data breaches can erode consumer trust and lead to substantial costs from regulatory fines, lawsuits, and remediation efforts.
Unsecured Cloud Environments
With companies rapidly moving data and workloads to the cloud, misconfigured cloud storage has become a major security risk. Research shows that 33% of companies have exposed at least one cloud storage instance to the public internet.
Cybercriminals can exploit these misconfigurations to steal data, launch malware, and more. Securing cloud environments requires proper access controls, encryption, and monitoring.
Phishing Attacks
Phishing emails and fake websites trick users into handing over login credentials, financial information, or sensitive data. 91% of cyberattacks start with a phishing email. These attacks rely on social engineering rather than software vulnerabilities.
I need to watch out for cleverly spoofed emails and lookalike domains. Using multifactor authentication can help mitigate risks from phishing.
Insider Threats
The 2022 Verizon Data Breach Investigations Report found that 82% of breaches involved the human element. Insiders, whether malicious or negligent, represent a major security risk.
This could be an employee emailing company data to personal accounts or inserting unauthorized thumb drives. Rigorous access controls, monitoring, and security training help counter insider threats.
Protecting Myself and My Business
As these threats continue to evolve, I need to take proper precautions to protect my data and devices. This includes keeping software updated, enabling multi-factor authentication, using strong passwords, performing regular backups, monitoring for suspicious activity, and implementing cybersecurity awareness training. With proactive planning and vigilance, I can help secure my data against emerging threats.
