As cybercriminals never stop seeking new methods to steal, it’s wise for organizations to also constantly improve defenses against their attacks. The following will discuss the main cybersecurity threats that businesses must prepare for in 2020.

Insider Attacks

Often underestimated, insider attacks and breaches caused by employees are one of the most significant cyber threats every company faces. Unrestricted access to sensitive information makes it easier for workers to intentionally abuse privileges or cause an accident through carelessness.
Employee access to network resources can leave a business vulnerable to daily cyberattacks. One worker can cause a harmful data breach that costs millions of dollars. Moreover, these incidents are often unpredictable and very difficult to prevent.
Companies should create a policy that strictly limits the access to IT systems of their employees to the minimum necessary to perform their jobs. If a single user’s account is abused or compromised, the resulting potential exposure can be contained.

IoT Attacks

As the number of smart devices in businesses is predicted to jump dramatically in the next few years, IoT-based attacks are also expected to significantly increase. The security problem that is looming is based on the fact that not every smart device has adequate security features, allowing cybercriminals to take over and illicitly gain access to a company’s network.
Some examples of IoT devices include Wi-Fi enabled alarm clocks, appliances, and speakers, which are often neglected for updates of security patches, making them easy targets. New malware can exploit a targeted vulnerability within an IoT device, infiltrating, replicating, and spreading its copies. Numerous hijacked IoT devices can be deployed for a massive DDoS (distributed denial-of-service) attack, which can crash websites and internet-based services.
The prevention of IoT attacks will be greatly facilitated by maintaining a complete list of every internet-connected device functioning over your company’s network. Note the operating systems of each and make sure to update their firmware to help prevent exploits.
Part 2 will cover Phishing & Social Engineering Attacks and Ransomware.
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