Top Cyber Security Threats for Companies in 2019

New year, new cyber security threats! We have tracked some of the rising threats for this year and the solutions that your company should be looking at to mitigate them.

1. Cryptojacking

Described by experts as a ‘cheaper and more profitable alternative to ransomware’, cryptojacking is seen as one of the major cyber threats to companies, especially those dealing with cryptocurrencies.

How does it work? Usually through a phishing email, which will load the crypto-mining code in the victim’s computer, or through an infected website, which will load the code on the victim’s browser.

These codes exploit computers and browsers to mine cryptocurrency and generate money. Because this kind of attack is hard to detect, it can operate for long periods of time without companies noticing it. When Cryptojacking is detected, tracking back the source is not an easy process, and since data is not actually stolen or encrypted, most companies are reluctant to investigate.

Having the right Cyber Security Strategy is the first step to ensure that your business is prepared to overcome cyber threats such as cryptojacking.

2. More targeted phishing

Phishing is still one of the top cyber security threats. Whether carried out through emails or websites, phishing is one of the most effective ways for hackers to access computers and operating systems.

In the last few years, companies have increased their training and awareness activities for their staff to protect their business from phishing traps. However, 2019 will see a rise in sophistication in phishing techniques making it harder and harder to spot them.

Having an efficient email security service in place makes all the difference in preventing phishing incidents occurring.

3. More sophisticated data breaches

The quantity customer records stolen through data breaches in 2018 amounts to billions. The fact that most of these attacks were carried out against some of the largest multinational companies in the world such as British Airways, Google+, Uber, Marriott, Facebook, and so on – who have some of the most sophisticated systems and extensive resources protecting them 24 x 7 – suggests the attitude ‘it will never happen to my business’ is folly.

Data and information are today’s most valuable assets, which is why data breaches will become more and more sophisticated and harder to detect. Evaluating the level of risk your company faces with a penetration test is a great way to spot your system’s vulnerabilities, assess the feasibility of an attack and ultimately stop such an event taking place.

4. New and more dangerous DDoS assaults

Although these attacks have not received major media attention, DDoS assaults are on the rise and expected to become more and more dangerous especially for IoT devices. For 2019, we expect to see growing numbers of attacks against IoT devices that control critical infrastructure (e.g. power distribution, communications networks, etc.) and even home-based IoT devices.

A proper DDoS Mitigation Service will protect your business and ensure that your data and infrastructure is always safe.

5. Hacking of Artificial Intelligent (AI) systems

AI and robotics are taking over business operations, automating production processes and improving human activities. Although this new technology brings many benefits to companies, it is also a major source of risk.

As AI systems store a great amount of data, they are the perfect target for cyber criminals. Moreover, attackers can exploit AI system’s vulnerabilities and damage a company by disrupting its operations or damaging its reputation.

Businesses should take a more strategic approach to defend their borders and make sure their firewall balances security and performance. Security policies and configurations should be in sync with business needs and evolving threats.

 

Covenco Recovery Services offers a wide range of cyber security services from Security Event Information Management (SEIM) based monitoring and alerting services, through to Vulnerability Discovery & Assessments, Penetration Testing, email security, and general consultancy led cyber security assessments.