Cybersecurity has always been a race between hackers and cybersecurity experts. Today, with so much of our lives and work taking place online, organizations are forced to be increasingly concerned with the threat of cyberattacks.
Between 2005 and 2018, there were 8,854 successful cyberattacks. As measures to prevent data breaches continue to become more sophisticated, cyberattacks have simultaneously become more complex and difficult to avoid and resolve. Although implementing cybersecurity measures can be expensive, the investment can prevent huge monetary losses and damage to an organization’s image and trust.
The cost of cybercrime is now counted in the trillions. And by 2024, cybersecurity spending is expected to reach $1 trillion. But what measures are companies taking to ensure the safety of consumer data?
Types of Cyberattacks
Over the years, criminals have developed different tactics for breaking into secure networks. Some of the most common types of attacks include the following:
- Malware – malicious software
- Phishing – fraudulent communications disguised as legitimate
- Man-in-the-Middle – a type of digital “eavesdropping” to gain access to sensitive information
- Denial-of-Service (DOS) – using excessive traffic to “overpower” a system or network
- SQL Injection – malicious code submitted into a server
- Zero-Day Exploit – an attack that occurs on a vulnerable system before a security solution is implemented
How Businesses Can Prevent Consumer Data Theft
Cybersecurity is extremely complex and can be too expensive for small businesses to invest in heavily. Unfortunately, small businesses are frequent targets for cyberattacks.
There are some measures businesses can and should take, however, to reduce the risk of a successful cyberattack. Most attacks occur due to human error, so it’s smart to limit the data a business collects and shares with employees. Strict data handling protocols and management reduce risks without the need to hire a cybersecurity effort.
Learn more about tips for cybersecurity in the big data era from this infographic from Ohio University.
