Cyber threats threaten the integrity of digital systems and networks. They can steal valuable data for financial gain and cause system downtime and productivity losses. They can also damage a brand’s reputation and cause customers to lose confidence. In industries or organizations that rely on critical infrastructure, cyberattacks can be life-threatening.
Attackers target individuals, small and large businesses, SLTT and federal governments for a variety of reasons. These include identity theft, financial loss and disruption, and the compromise of personal or business data. Attackers may also be motivated by ideology, like hacktivism groups that use attacks to bring about social or political change.
Many of the most common cyberattacks are ransomware, distributed denial-of-service attacks, and phishing. The attacks target a variety of entities including endpoint devices (computers, smartphones and other mobile devices) and network equipment such as routers, switches and security appliances. They can also target IoT devices, which are becoming increasingly important for businesses, such as printers and smart home devices.
There has been an increase in attacks on healthcare, manufacturing, banking and insurance sectors. However, attacks continue to rise against all types of businesses – from small and medium-sized enterprises to large corporations.
The main reason behind the increased number of cyberattacks is due to the growing interconnectedness of digital platforms and devices. This allows attackers to enter a network through multiple entry points and take advantage of vulnerabilities to steal, disrupt or cause harm. Organizations can mitigate these attacks by deploying a robust cybersecurity framework, updating all software to protect against new threats and conducting regular penetration tests to identify vulnerabilities. In addition, they should deploy a layered approach to security that includes network segmentation, intrusion detection and response systems, and rigorous access controls.