As businesses rely increasingly on technology at the start of the new decade, cyber security risks will become more numerous (and dangerous). The beginning of 2020, in fact, has seen a greater breadth of cyber security risks than ever before.
Undoubtedly, you’re not the only business owner, office manager, or organisation leader who is concerned!
The real question that you have on your mind is likely, “Where do we even begin?” The number of cyber security threats for business in 2020 may be daunting, but becoming aware of the following five security predictions are enough to build a solid foundation for cyber protection and business safety.
1. Cloud vulnerability will increase.
Since the cloud’s inception as a convenient method for the mass sharing and storage of files, cybercriminals have seen data stored within the cloud as low-hanging fruit, ripe for the taking. Just as businesses’ use of the cloud has grown in recent years, so have the ways to infiltrate the cloud and target its contents.
2. Phishing attacks will remain a prominent concern.
The risks associated with broadly sweeping phishing attacks have been around for a while now, but 2020 will continue to see business owners and cyber security professionals maintaining phishing attack risks as major concerns. In fact, phishing may even overcome malware as the top security concern for business executives.
3. Ransomware will remain, along with the presence of deepfakes.
Unfortunately, advancing technology has led to the explosion of a phenomenon called “deepfakes,” coined in 2017, in which cybercriminals fabricate extraordinarily realistic images or videos of an individual in a compromising situation. This media is often used as a means of individual extortion and paired with merciless ransomware.
4. Windows 7 end of life threats will comprise a large number of security breaches.
With the end of Microsoft’s security updates for Windows 7, offices who do not promptly update to Windows 10 will see a slew of cyber security attacks.
5. Hackers will increasingly target non-PC devices.
Business operations are no longer limited to the PCs within an office building. Now, with employees working from home and utilising mobile devices to their fullest, the burgeoning ideas of cybercriminals are rife with new targets.
Educating yourself about the most dangerous cyber security threats for business in 2020 is a great way to start the year, but don’t stop there. While knowledge is the first step towards combating these threats, you’ll need some other resources to adequately amp up your cyber security know-how.
Now that you’ve familiarised yourself with some of the threats you might face this year, check out the following trends you can utilise to tackle these threats head-on.
1. Enlist a high-quality IT provider.
Third-party maintenance has been well on its way towards becoming a necessity rather than optional, and 2020’s cyber security threats will only solidify this need for expert advice, reliability, continuous monitoring, regular patching, and collaboration with cyber security professionals and IT providers.
2. Take out cyber security insurance.
Other parts of your business are probably insured, so why not your digital assets? In 2020, cyber security insurance policies will become more commonplace—so much so that the current value of the cyber security insurance market is expected to double or triple by the end of the year.
3. Do some security maintenance.
This includes refreshing passwords and implementing policies for regular password resets as well as making routine backups of business data and other sensitive information. Some professionals affectionately call these practices “security hygiene”.
Whether threats or solutions, these 2020 cyber security trends are here to stay. In the coming months, they will only become more prominent, so get a head start now and don’t allow your business to fall prey to increasing cyber security risks.