The recent pandemic and shift to remote work/cloud environments has created a whole new playground for cybercriminals. And their tactics keep evolving as hackers become smarter by the day. It’s no longer about classic threats like weak passwords and phishing. Today’s cybersecurity threats are a lot more advanced, and a lot more sinister.

4 Top Cybersecurity Threats in 2021

1. Vulnerability of cloud-based applications.

The latest Oracle and KPMG Cloud Threat Report (2020) reveals that cloud vulnerability is and will continue to be one of the biggest cybersecurity challenges faced by today’s organizations. That’s because more and more are leveraging cloud application and storing sensitive data in the cloud. These organizations make tempting targets for malicious hackers. As we all function in a cloud-based world—and for great reasons—your company simply needs to ensure it’s protected against things like data breaches, misconfiguration, account hijacking and other security threats.

2. Social engineering attacks.

The most common variety is phishing—the act of trying to acquire sensitive information by posing as a trustworthy source. Though many companies have enhanced their email security to block phishing attacks, cybercriminals continue to get more sophisticated, which means phishing can happen to anyone. Since phishing is an effective, minimal-investment, high-reward strategy for hackers to gain legitimate access to credentials, it will continue to be a big cybersecurity threat for the foreseeable future. In fact this 2019 Data Breaches Investigations Report reveals that phishing remains the number one cause of data breaches today—and it can strike your business without warning, so you need to be prepared.

3. AI-enhanced cyberthreats.

Artificial intelligence (AI) and machine learning have enhanced virtually every industry. But AI has also proving beneficial for cybercriminals, too, through some fairly advanced tactics. Your security solution needs to be advanced enough to tackle them.

4. Smart contract hacking.

Smart contracts are relatively new software programs that use blockchain technology to facilitate the exchange of money, property or information. Because these contracts are so new (still with a few bugs), they are a prime target of online criminals seeking to compromise them. If you’re in an industry moving to smart contracts (like insurance, loans, mortgages, trade/finance or medical research), make sure your security practices include monitoring these instruments.

Your Best Defense for Cybersecurity Threats: Strong Security Technology and Practices

Hacking is no longer a hobby—it’s big business.

Even as attackers devise new types of threats, old ones (like ransomware, Trojans and botnets) are still around. That’s why cybersecurity is all about staying ahead of threats, rather than managing them later. Here are some quick reminders to help you stay safe:

1. Prioritize cybersecurity by setting up a security strategy.
2. Focus on cybersecurity awareness and training.
3. Invest in cybersecurity tools.
4. Consider partnering with an IT security expert, who can help you monitor and manage cyber threats.

If you need guidance from a cybersecurity expert—or want stronger assurance that your security strategies are as airtight as they can be—contact us today.

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