Internet of Things
With advancements in technology, the cyberthreat landscape is equally evolving with new threats emerging every dawn. Businesses should watch out as cybercriminals take advantage of the evolving hacking techniques to increase the potency of their ambitions. Enterprises should prepare adequately in advance to face these threats by improving their resilience to achieve their business goals. Keeping track of both established threats such as Ransomware and emerging threats is vital for data safety. That said, below are four cybersecurity threats that affect emerging technologies:

The Internet of Things Device Threats

In a bid to cope up with the latest technology trends, companies are continually adding new devices to their infrastructure. For instance, to improve their security situation, companies install security cameras and smart container ships for easy tracking. However, most of these devices have weak management systems, which is what many businesses ignore the most. Any company looking to stay safe or track their products with ease should consider installing IoT devices that are easily manageable and implement systematic processes for updating them. Otherwise, this will leave them exposed to severe cybersecurity risks.

Cryptojacking

Ransomware remains the biggest threat to businesses, exploiting various basic system vulnerabilities such as poor network segmentation and backups. Currently, cybercriminals employ the same variants of the ransomware initially used to encrypt information to systems that mine cryptocurrencies. This practice is what is called crypto mining or cryptojacking.

Cryptojacking malware is more or less similar to the strains used in ransomware, such as NotPetya and Petya. However, unlike ransomware that encrypts all the system information for a ransom, cryptojacking malware runs in the background silently and undetected as individuals mine cryptocurrencies. The surge in cryptojacking cases rubbishes the initial argument where several SMB leaders claimed that this business was too small and safe to be attacked.

Geopolitical Risks

When migrating to cloud-based storage, companies and businesses should consider the location where their client’s data and products are stored. This is because geographical locations determine cybersecurity risks and regulations. Security regulations such as the GDPR and threats experienced in nations such as North Korea, Iran, Russia, and China makes it prudent for organizations to evaluate cautiously the intricacies involved in their security controls. Organizations that store data in third party countries and ignore potential location and geopolitical risks expose their information to many threats.

Mobile Malware

With increasing use, mobile devices are becoming a top target for cybercriminals. This trend is rooted in the high vulnerability of these devices to attacks. Organizations trying to encourage the use of mobile device management systems are often limited by privacy concerns. That aside, most of the Android-run devices are running on old versions of Android OS, making it challenging to install protection solutions that they cannot support.

Phishing

With emerging technologies, phishing is becoming more sophisticated than before. For long, phishing has been one of the cheapest and easiest methods that cyber criminals leverage to compromise their targets. In most cases, phishing attacks come as normal, everyday emails that appear to have been sent from trusted sources. However, they deliver malware to the recipients’ device or computer, enabling the hacker to access the device with ease.

With extensive use of SaaS services such as Office 365, Dropbox, Slack, and others, cybercriminals sharpen their impersonating skills with advanced and sophisticated attacks, including social engineering methodologies. They lure potential victims with engaging information, making it difficult for these attacks to be identified, even for tech-savvy individuals.

The Bottom Line

With emerging technologies come advanced cybersecurity threats. Getting proper awareness and a basic understanding of common threats in the cyberworld will help businesses protect their digital assets better. Observing various security measures, such as using a router VPN to protect your business Wi-Fi network, is also prudent.

Nonetheless, if you discover that your systems have been breached, immediately change your passwords, replacing them with strong ones. You should also consider shutting down the systems and notify your credit card companies and banks. It’s always a good idea to engage third-party IT experts to assess the breach and recommend effective corrective actions.