How to Strengthen Your Defenses Against Emerging Cybercrimes in 2023
The world of cybersecurity is constantly evolving, and the stakes have never been higher—experts predict that cybercrime will cost a staggering $8 trillion in 2023. That number will rise to $10.5 trillion by 2025 , underscoring the urgent need for businesses to boost cybersecurity and take proactive steps to safeguard their networks.
From supply chain attacks to critical software vulnerabilities, cybercriminals are finding increasingly sophisticated ways to exploit gaps and wreak havoc on our digital lives. But by understanding the changing threat landscape and adopting best practices like risk management, staying on top of software updates, and more, you can protect yourself and your business from threat actors.
I'll guide you through creating a culture of cybersecurity to keep your networks safe from malicious attacks. Continue reading to explore the risks hackers pose and discover actionable tips on staying ahead of the game.
How to Keep You Safe From Cybercrime
Implement supply chain risk management
Recently, a supply chain attack similar to 3CX's hit the energy sector in the US and Europe , injecting malicious code via software updates. Supply chain risk management helps avoid such attacks by identifying vulnerabilities and establishing clear security guidelines for third-party suppliers.
Keeping software up-to-date
As demonstrated by adding the Papercut bug to the KEV catalog, attackers can actively exploit vulnerabilities, allowing them to execute code remotely on your system. To protect against these attacks, prioritize software updates and patch any vulnerabilities immediately.
Assess security features and potential vulnerabilities
As exciting as new technological advancements are, remember that they also bring novel cybersecurity risks. When implementing new technologies like Hyena Code , it is crucial to thoroughly assess their security features and potential vulnerabilities before integrating them into your organization's systems.?
This can help protect sensitive data and information from cyberattacks and breaches.
Prioritize software updates and patches
Make it a habit to check for security updates and patches for all software and devices in your organization, including those from reputable vendors such as Cisco and VMware , to minimize the risk of cyberattacks or system failures that can lead to catastrophic consequences, as seen in the tragic case of a military helicopter crash .?
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Prioritizing timely updates and patches is crucial, particularly for systems that involve sensitive information or perform critical functions.
Conduct vulnerability assessments and penetration testing
Regular vulnerability assessments and penetration testing allow for identifying potential weaknesses and flaws, such as the GhostToken GCP flaw, before attackers can exploit them. Stay proactive and continually improve your security measures to protect against constantly evolving threats.
Prioritize security measures
The Biden administration is investing $180 billion in research and development of 6G technology to avoid the mistakes made with 5G. To achieve this, prioritize cybersecurity during development to prevent potential vulnerabilities and safeguard against cyber threats.
Enable two-factor authentication
Two-factor authentication (2FA) provides another layer of security by requiring users to submit a second form of authentication, such as a code sent to a trusted device or biometric verification, in addition to a password.?
This can significantly reduce the risk of unauthorized access to sensitive information and accounts, even if a hacker obtains your password.
Final Thoughts
As technology evolves, cybercriminals will find new ways of exploiting vulnerabilities. The best defense against these attacks is for organizations to regularly perform security assessments, patch systems and software, and keep up-to-date with the latest cybersecurity news. By implementing strong cybersecurity strategies, you can strengthen your defenses and protect your business from present and future threats.?
Senior Managing Director
1 年Eric Taylor Fascinating read. Thank you for sharing.
Founder & CEO, NetSecurity Corp. | Inventor and Architect of ThreatResponder? Platform, a Cyber Resilient Endpoint Innovation | Cybersecurity Visionary, Expert, and Speaker
1 年The projected rise to $10.5 trillion by 2025 further emphasizes the gravity of the situation. This staggering amount underscores the pressing need for organizations to take proactive steps in fortifying their networks and protecting sensitive information from cyber threats.
Cybersecurity Solutions and Green Technology
1 年Highly informative piece, Eric. To all SMBs across the US that privately worry about their ability to withstand a hacker's ransom, I encourage you to learn more about Barricade Cyber. Benjamin Franklin famously opined that an ounce of prevention is worth a pound of cure. This 1700s counsel was apropos then and equally so now. Shore up as many vulnerabilities as you can BEFORE you're in scramble mode trying to navigate a hacker's demands. Eric and his superb team can help on pre-breach hardening and in case of a breach, to mitigate the effects by swiftly implementing your best path forward.