Unfortunately, cybersecurity threats will become increasingly sophisticated and more costly to victims as time passes. Studies project that the worldwide costs of cybercrime will pass $10.5 trillion by 2025, up from an estimated $3 trillion in 2015.

Being proactive about protecting your company is crucial for preventing cybersecurity attacks. The following discusses the most dangerous cybersecurity threats confronting the globe in Summer 2022, and the steps leaders can take to improve the defenses of their companies.

Third-Party Vulnerability

A worrying and developing trend has cybercriminals increasingly evading security systems by breaching the less-defended networks of third parties having privileged access to the chief target. A notable example of a third-party breach was when hackers leaked the personal data of more than 200 million LinkedIn, Facebook, and Instagram accounts. The cybercriminals gained access by first breaching a third-party contractor that had privileged access to their networks.

Incidents of third-party breaches are anticipated to grow as organizations become more reliant on independent contractors for their IT needs as they reduce the number of full-time in-house technical employees. A recent study found that more than half of businesses are more open to hiring freelancers due to the transition to remote work caused by the COVID-19 pandemic. In addition, a survey discovered that more than nine out of 10 companies granted third parties access to their critical IT systems, giving cybercriminals more vulnerabilities to exploit.

Social Engineering

Social engineering is one of the most common techniques used by cybercriminals. It relies not on technical vulnerabilities, but human error. Social attacks are more dangerous because it is much easier to deceive an employee than to breach an organization’s security system. According to research, more than eight of 10 data breaches involved human interaction. This summer it is probable that social engineering attacks, such as phishing and email impersonation, will continue to evolve by incorporating new tactics, technologies, and trends.

Part 2 will continue discussing the most dangerous cybersecurity threats of Summer 2022.

Alpha Business Support

Choosing an expert computer technology support provider is an important decision for your business. Alpha has been a trusted partner of many companies in the Washington, D.C., Baltimore, and Annapolis areas since 1990. For affordable client-focused network consulting services and solutions, please call Alpha today at (410) 295-9500.