Network access, data storage, and laptop or smartphone use are common ways professionals use technology daily. Each represents a potential cybersecurity vulnerability. Cybercriminals will use any method to access a business’s internal systems. As firms become more connected, their information technology systems become ever more prone to attacks.
With cybercrime rising and becoming more advanced and accessible to malicious actors, savvy organizations must update their IT hiring practices and internal processes.
Cybercrime Threatening Modern Businesses
Any business that requires internet access faces real threats from malicious actors. These criminals’ goals are varied. Some simply want money. Others seem to enjoy sowing disruption and danger.
Take the 2021 Colonial Pipeline attack, for example. The attack was a form of ransomware. The attackers demanded money in return for releasing control of the utility’s systems. But they also wanted to show their power via a shakeup of local infrastructure. The attack led to panic buying of fuel and a nationwide alarm around the seriousness of ransomware.
But ransomware isn’t the only concern of modern businesses.
Phishing is the act of using authentic-seeming communications to gather personal or business information. Phishers use this data to access systems such as bank accounts and business data storage systems. Some phishing emails and messages are easy to spot. The more sophisticated use social engineering to gain access to more sensitive data.
Other cyber threats are malware, direct entry via weak networks, data theft, and supply chain attacks.
Employee Training Is One Pillar of a Robust Cybersecurity Posture
The key to how resilient you are against cyber threats is your workforce. Every employee contributes to how secure your firm is. Training and education can help prevent:
- Employees falling for phishing scams
- Sharing of passwords
- Weak passwords
- Data loss via human error
- The use of personal devices for corporate purposes
As well as training non-cybersecurity specialists on the basics, it helps to have some specialists in place. One of the major cybersecurity challenges facing companies is the talent shortages in this area.
Information technology recruitment specialists have noted a workforce gap of 4.8 million, which has risen 19% since 2023. The demand for skilled cybersecurity specialists is outstripping the rate at which they’re becoming qualified. To gain access to the right talent pools, businesses could consider partnering with educational establishments. They may also want to work with cybersecurity-focused talent advisors.
Advancing Technologies Aid with Threat Detection
One reason for talent shortages is that cybersecurity professionals must keep up to date with emerging technologies. Last year’s experts are this year’s has-beens without the right upskilling.
Specialists who do learn the latest skills will find themselves using artificial intelligence (AI) and machine learning (ML) in their threat detection efforts. Predictive AI can assess networks for vulnerabilities quickly. Some AI-powered cybersecurity tools can even suggest next steps. Or they may use automation to patch vulnerabilities and deploy solutions.
The Consequences of Ignoring Cybersecurity Challenges
When businesses fail to consider cybersecurity as a priority, cybercriminals win. The Colonial Pipeline attack is just a single event in a long history of cyberattacks. By May 2024, there had already been 20 major cyberattacks and countless smaller events.
- UnitedHealth Group lost $872 million due to ransomware.
- Hospital Simone Veil, France, ended up having to do every patient chart with pen and paper after ransomware shut the hospital’s systems down in April 2024 — it refused to pay.
- Spoutible had its API hacked which impacted 207,000 users.
While not all these attacks lead to financial consequences, they all reduce faith in the organization as a whole. Consumers, investors, and partners want to know their data is safe. Firms that can’t guarantee that will lose customers to businesses that can.
Best Practices for Securing Information Technology Environments
There are many ways to secure your information technology systems, networks, and devices:
- Invest in advanced firewalls
- Ensure third-party software products meet your firm’s security standards
- Hire a chief information security officer (CISO) to help manage data security protocols
- Employ cybersecurity specialists with industry-specific experience
- Take multiple backups of business-critical data
- Have a disaster recovery plan in place
Many businesses end up in a tight spot because they don’t know what to do when an attack occurs. Planning for the worst helps ensure business continuity.
