The Importance Of Cybersecurity for Business in 2022

23 Aug

The threat of cyberattacks has become the number one concern among business leaders. However, airtight security between internal and external assets is increasingly irrelevant thanks to cloud computing.

Cloud computing, or SaaS, offers companies the ability to host and maintain applications as a service rather than purchasing them. As such, a company needs to prioritize its protection efforts.

Asset mapping can help identify sensitive data and applications, the services that are essential for customers, and interconnections with third-party IS. Understanding your business’s position within this ecosystem can help you determine the appropriate level of protection.

Cybersecurity is the Number One Threat Identified by Business Leaders

Ransomware attacks have become profitable and effective for attackers and will continue to be the number one cyber threat for organizations.

Additionally, the widespread use of Bring-Your-Own-Device (BYOD) policies has reduced security visibility and increased the potential for employee infection.

To combat these threats businesses must rethink their approaches to security. Here are some of the top trends to look for in the future.

Human Error Continues to Feature in Most Data Breaches

According to Verizon’s 2022 Data Breach Investigations Report, human error is the primary cause of data breaches for businesses. In the past year, there were 23,896 reported incidents; 5,212 were confirmed breaches.

The report looked at data from 87 cybersecurity vendors. The report concluded that 82{93ea73599dd8d655253a8d93ead5902fc96c69deaccf1084de9461a87576e2eb} of breaches were caused by the human element, which can be due to phishing, error, or misuse of credentials.

Identity Systems Are Under Sustained Attack

As the volume of identities grows, so do the threats to these systems. Today, a single user has around 100 unique identities.

But the rise of digital transformation, the explosion of the Internet of Things, and the need for non-human tools all mean that machine identities are becoming more important. Businesses should routinely conduct a compromise assessment to assess the adequacy of their cyber security.

Multi-Factor Authentication (MFA) is a Must-Have for Cybersecurity

As the number of companies adopting digitalization increases, cybersecurity is becoming more important. A lack of security is the most common reason for data breaches, and adding an additional authentication factor to the equation can help protect sensitive information.

In addition to improving security, MFA also reduces the burden on IT staff who must provide remote employees with access to company networks.

Hybrid Work Systems Give Cybercriminals Multiple Opportunities to Attack

Many organizations struggled to secure their IT systems when employees began working remotely, which provided an opportunity for cybercriminals to take advantage.

Cyberattacks affected thousands of businesses in 2020, with many of these companies losing their data to hackers. Zero trust model security requires that all requests are verified, including user identity, health, and device classification. A zero trust model can prevent most attacks, regardless of location.

As the world increasingly movies online, businesses are becoming more and more dependent on digital systems and data. This reliance comes with a certain amount of risk, as cyber-attacks are becoming more common and more sophisticated.

However, businesses that invest in cyber security can significantly reduce their chances of being targeted by hackers. By implementing strong security measures, businesses can protect their data and systems from being compromised.

In addition, investing in cyber security can help businesses to build trust with their customers and partners. When customers know that their data is safe, they are more likely to do business with a company.

Similarly, business partners are more likely to work with companies that they know have strong cyber security. As a result, investing in cyber security can have a number of positive benefits for businesses.

Cyber security is emerging and will continue to do so in the near future. Thanks for reading!