Did you know that cyberattacks are now the fastest-growing crime worldwide? In fact, financial losses caused by cybercrime exceed losses incurred from the global trade of illicit drugs. This is just one unfortunate example of what the state of cybersecurity looks like in 2021.

Cybersecurity issues have never been more prominent than they have been this past year. When you consider the fact that ransomware costs businesses more than $75 billion per year, it is easy to see why neglecting IT security services is a game that businesses can no longer afford to play.

In this post, we’ll go over how cyber-threats have evolved over the course of the past year and what you can do to protect your most important assets.

Data Breaches Are Evolving

Today’s data breaches are targeting everyone — from the local water plant to the grocery store. There are even “big game hunters” targeting the health care sector. As these threats evolve and expand, they greatly reduce the productivity of unsuspecting businesses. During the first six months of 2021, there were a total of 1,767 publicly reported breaches, exposing a total of 18.8 billion records.

During the height of the pandemic last year, security firms were seeing a 667% increase in malicious phishing emails. At the same time, Google reported it was blocking more than 10 million phishing emails daily.

Sophisticated Phishing Attempts

Another part of evolving threats is that we are seeing phishing attempts become more sophisticated. 

One particularly refined phishing attempt came mid-pandemic as remote work was taking off. In April 2020, the FBI sent out a memo warning the public that cybercriminals were targeting companies and health care organizations with fake Zoom and Skype meetings

In some of the most vicious of the attacks, the hackers would send out meeting invitations with words such as “crucial HR meeting” or “termination.” Once a victim clicked “join the meeting,” the faux website recorded their credentials and personal data.

Without training and good cybersecurity, employees are at a higher risk of accidentally leaking access to their company, resulting in financial and reputation damage.

New Technology, New Problems

Technological innovations are amazing and make our daily lives much easier. But they also come with a downside because they make any old-fashioned crime a lot easier to commit. For example, drug dealers can use Bitcoin to take payment and quietly move money around. 

The reality is the more technological devices we log in to, the more objects hackers have to break into and steal our information and money. This includes everything from our laptop computers to our cell phones, air pods, smartwatches, and even smart appliances. Estimates predict that more than 41 billion Internet of Things (IoT) devices will be online and connected by 2027. 

New tech means new ways for hackers to manipulate software and gain access to systems. For this reason, IoT devices have become a prime target for cybercriminals and have sent device manufacturers into a tailspin as they scramble to protect their fitness wearables, smart plugs, baby monitors, etc., from being attacked.

The Dark Side of Remote Work

As remote work becomes the new normal, businesses need to find more substantial solutions for remote work that allow employees to access all of the tools they need to get the job done while keeping hackers out. A recent survey found that 56% of senior IT professionals believe their employees picked up bad cybersecurity habits while working remotely. 

What’s more, the survey also found that nearly two in five employees admitted their cybersecurity protocols at home were not as detailed as what they practiced in the office. When businesses partner with a managed IT security services provider, they get the peace of mind of knowing their IT infrastructure and sensitive data will be kept updated, patched, and safe. 

An Increase in Compliance Laws

In 2021, we are also seeing new compliance laws, including:

  • NIST: The National Institute of Standards and Technology is a non-regulatory government agency responsible for developing technology, metrics, and standards. Broadly speaking, NIST guidelines outline standards for recommended security controls for IT infrastructure at federal agencies. 
  • DFARS: The Department of Defense (DoD) imposes The Defense Federal Acquisition Regulation Supplement (DFARS) on external contractors and suppliers.
  • CMMC: Cybersecurity Maturity Model Certification (CMMC) is a unifying standard to implement cybersecurity across the Defense Industrial Base (DIB).

As these new laws are passed, businesses must adapt all out-of-date security practices before they become a bigger target for hackers. ThrottleNet has a new cybersecurity package to help small businesses implement government-level cybersecurity solutions while also ensuring they are fully compliant with all new laws.

What Businesses Can Do

Cyber threats are evolving at unprecedented rates, and the truth is, they will never stop. That’s why it is crucial to find a cybersecurity for small business provider that can help you keep your information out of the wrong hands. 

Contact ThrottleNet today to get a free dark web scan today to get started on improving your business’s security.