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6 Trending Cybersecurity Issues
6 Trending Cybersecurity Issues
No organization, no matter the size, is immune from a cyberattack. Learn the six trending cybersecurity issues that could wreak havoc on a business and, and find out how to prevent them.
Six Cybersecurity Risks to Businesses
Every employer faces the reality that they could be the target of cybersecurity attacks or data breaches, which can jeopardize their credibility and cost thousands of dollars (or more) in damages. By following simple preventative steps, business owners can
protect their organizations from cyberattack risks
. Below are six cybersecurity risks that can wreak havoc on a business and how a business can train their employees to be diligent for cyberattack red flags.
Watch Out for These Cybersecurity Risks
Cybersecurity Risk #1: Deepfakes
Deepfakes, developed from artificial intelligence technology, can take an image of one person and replace it with another person’s likeness. According to
, last year, there were nearly 15,000 deepfake videos online. As the technology is easier to use, more people are making these types of videos, and their impact could be felt across the business, political and media worlds.
Tips to Prevent Deepfakes
Watch out for deepfake videos spreading fake news.
Don’t add to the problem. Check for authenticity before you share videos.
Beware of fraudsters using deepfake videos in social engineering schemes.
Cybersecurity Risk #2: Ransomware Attacks
report found that in 2019 new ransomware attacks grew 118% as cyber criminals continue to adapt and use new tactics and code innovations. Ransomware is a type of malicious software designed to block access to a computer system until a sum of money (or ransom) is paid, or some other action is completed. Sometimes, a
is as simple as forcing the user to complete a survey. The most common types are lock screen and encryption ransomware. The lock screen shows a full-screen message that prevents the user from accessing their PC or files. Encryption modifies files so they can't be opened.
Tips to Prevent Ransomware
Use secure networks,
and up-to-date systems
Learn how to identify and avoid malicious links
Maintain secure backups of essential files
Cybersecurity Risk #3: Smart Home Devices
The Internet of Things (IoT) technology has allowed us to connect to our cars, homes and multiple devices like never before. IoT devices continue to be developed with even more connectivity.
that there will be 25 billion connected things by 2021, which produce tons of data needing protection from cyberattacks.
Prevent Cyber Attacks Via Smart Devices
Don’t use the factory settings. Pick a strong password and check privacy settings and permissions.
Check smart devices for security problems and updates regularly.
Consider setting up a separate network for smart devices.
Cybersecurity Risk #4: Data Privacy
is a consumer’s understanding of their rights as to how their personal information is collected, used, stored and shared. The use of personal data must be explained to consumers simply and transparently, and in most cases, consumers must give their consent before their personal information is provided. As big data grows, privacy concerns are also increasing. The possibility of data breaches can put your business’s sensitive information in the hands of identity thieves.
The protection of data privacy has come to the forefront with the launch of the
General Data Protection Regulation (GDPR)
by the European Union in 2018. The GDPR applies to all data directly or indirectly related to an identifiable person in the EU that is processed by an individual, company or organization.
Any small business which processes the personal data of people within the EU is subject to the GDPR, no matter where in the world the business is based. Currently, there is no U.S. federal standard for data privacy protection, but many states have their own data privacy laws. California has passed the
California Consumer Privacy Act (CCPA)
, a wide-reaching privacy law that went into effect in 2020 and New York’s
Stop Hacks and Improve Electronic Data Security Act (SHIELD)
went into effect on March 21, 2020.
Be Prepared for Data Privacy Laws
Determine if these laws affect your business
Review and update data security and data breach notification procedures
Create opt-out, know and delete methodologies for email notifications
Respond to data removal requests promptly and document your actions
Consult with legal counsel to understand how these laws could apply to your circumstances
Cybersecurity Risk #5: Spear Phishing
is a type of
social engineering scam
that attempts to fraudulently obtain sensitive information using email. The email appears to come from someone that you know or have done business with. However, the message might include poor grammar, syntax errors, broken links, and the email address might be slightly different from the familiar one. The email could be written with a sense of urgency, demanding an immediate response. According to
, 91% of cyberattacks start with
, a type of scam that targeted directly at a particular person in an organization.
Know the Signs of Spear Fishing
Train your team to not click on links unless they are positive that they trust the source
Watch out for messages that appear to be from people you know but are actually spoofed
Use anti-virus software, two-factor authentication and other security measures
Cybersecurity Risk #6: Human Mistakes that Lead to Data Breaches
In the past few years, there has been a rash of well-known cyberattacks on businesses, including British Airways,
states that cyberattacks are the fasting growing crime in the U.S. with an estimated worldwide cost of $6 trillion annually by 2021.
2018 Verizon Data Breach Investigations Report
found that human mistakes caused 21% of data breaches.
Proactively Protect Your Business from Cyberattacks
that supports your data protection strategy
Train your employees on how to avoid phishing and other cyberattacks
Make sure remote workers are using strong cybersecurity protocol
after employees leave
Cyber Liability Insurance From AmTrust Financial
With threats of cyberattacks growing, companies need protection from data breaches. All organization should offer data security training and create a company-wide
data breach policy
with a response plan ready to implement when/if it is needed.
Cyber Liability insurance policy
from AmTrust provides additional security to safeguard your company against loss and damage due to a cyberattack.
today to find out how you can benefit from a cyber liability policy, and how to protect your organization from cybersecurity attacks and other data breach threats.
This material is for informational purposes only and is not legal or business advice. Neither AmTrust Financial Services, Inc. nor any of its subsidiaries or affiliates represents or warrants that the information contained herein is appropriate or suitable for any specific business or legal purpose. Readers seeking resolution of specific questions should consult their business and/or legal advisors. Coverages may vary by location. Contact your local RSM for more information.
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