In 2018, more businesses are likely to be impacted by cyber security breaches. What’s more, the number, scope and impact of those breaches are all likely to rise significantly, according to the Information Security Forum (ISF).

Is your organization prepared to meet these five challenges?

1. Increased Focus on Small and Mid-Sized Companies

Identity theft is still an ongoing concern, however would-be attackers are increasingly turning to ransomware and crypto attacks instead. That’s because their return on investment using those methods can take just days as opposed to years to manifest.

While any size company is potentially at risk of attacks or information security breaches, small- and mid-sized entities are increasingly becoming targets for cyber-criminals. There are several reasons behind this, including the fact that attackers often perceive smaller businesses as being easier targets.

Many smaller businesses simply haven’t dedicated enough resources to IT security and continuity practices. This means these organizations are perceived as more attractive, and more lucrative, targets for ransomware attacks. Cyber-criminals may find they have better luck targeting many small- and mid-sized companies than just a few large organizations.

2. False Sense of Security with Disaster Recovery Efforts and Cloud-Based Solutions

Across industry lines, adoption of cloud-based storage and hosted applications continues to rise every day.

Some companies assume that cloud-based services are an automatic disaster recovery solution and fail to take additional steps. When business is disrupted at an organization that takes this approach, they can find out the hard way that they have limited data and application protection.

Taking a proactive approach to disaster recovery planning can provide true flexibility, giving you the ability to choose where your data and applications are maintained. It’s possible to create hybrid solutions including both local and cloud storage components, including your existing cloud services such as Amazon, Azure and Google Cloud. If you don’t plan proactively, however, you may find yourself in a reactive position.

3. Unmanaged Internet of Things (IoT) Risks

As the Internet of Things (IoT) continues to grow, so does cybersecurity risk for organizations. Unfortunately, many IoT devices are not secure and lack transparency. When your company’s, employees’ or customers’ personal data is involved, there is no room for complacency.

It can be difficult to gain insight into how much, and what, information IoT devices are transmitting to manufacturers or others outside your network.

Working to secure any IoT devices your company uses should be a priority in 2018, so you can rest easy knowing you are in control of them – not the manufacturer or attackers.

4. Approaching Evolving IT Threats with the Same Old Approaches

The IT threats companies face are ever-changing. If your company is still trying to fend off attackers and address risks using old tools, you may be at risk.

Being prepared to fight malware attacks is important. However, the landscape is changing and organizations are seeing an increase in non-malware based attacks.

Identifying your company’s specific risk points and potential vulnerabilities is critical so you can focus your IT security efforts to address those areas.

5. Risks Associated with the Supply Chain

Last but not least, the supply chain continues to be a concern for IT and information security professionals.

In order to work effectively with suppliers, you need to share certain information with them. However, it can be difficult to gain insight into suppliers’ protocols for securing your company’s sensitive information.

Taking a proactive approach to the supply chain, by analyzing security along the entire chain, is the first step. From there, your company should adopt proven measures to mitigate risks.

Threats are Evolving; Make Sure Your Risk Mitigation Efforts Evolve Too

Even if your company isn’t thinking about cyber-security vulnerabilities, chances are good that attackers are. To learn more and to find out how Norwell Technology Group can help, contact us online or call us at (877) 277-9648 today.

 

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