The summer of 2019 will see the continued increase in sophistication of the types of cyberattacks being deployed. Awareness of emerging cyber threats will help business leaders and IT personnel prepare defenses that will protect their companies.
Executives must also improve their internal communications regarding new cyber threats, so employees fully understand how successful attacks may negatively impact their company’s performance, reputation, and profitability.
The following will discuss the top five new cybersecurity threats of summer 2019 that companies should monitor.
Cybercriminals are increasingly utilizing ransomware variants for the purpose of hijacking an organization’s computing resources to mine for cryptocurrency, a crime known as cryptojacking. The hacker’s usual lucrative reward for their efforts is Bitcoin.
Instead of demanding ransom, cryptojacking malware functions silently in the background using up significant computing resources for the mining of cryptocurrency without the organization’s knowledge or consent.
No business is too small to be targeted for this sort of crime. All of an SME’s computers can all be exploited for the mining of cryptocurrency. Cryptojacking intends to infiltrate a company’s entire network and exploit its computing resources to the maximum.
An increasing number of companies are reviewing where their products are being implemented or the storage locations of their business data in light of new government regulations and geopolitical vulnerabilities.
The European Union’s GDPR (General Data Protection Regulation) rules and state sponsored cyber attacks from countries such as China, Iran, North Korea, and Russia have forced firms to revaluate how they will do business around the world.
Multinational companies that do not weigh the effects of international laws and geopolitical risks on doing business over the Internet will be more vulnerable to extremely costly government fines and serious damage from cyber crime carried out by nation states.
Part 2 will discuss IoT Malware Attacks, Mobile Device Malware, and XSS Attacks.
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