Organizations of all sizes face a barrage of cyber threats, each vying to steal valuable data, disrupt operations, or cause financial and reputational harm. Understanding these threats is crucial for implementing effective security measures. While there are many potential threats, this blog post will explore thetop 5 main threats to cybersecurity that organizations should be aware of.
For a more comprehensive exploration of cybersecurity threats, you can visit our in-depth guide on cyber threat assessments. Additionally, we offer a resource on the top 10 cyber security threats which delves deeper into this critical topic.
What are the 5 Main Threats to Cybersecurity?
Among our clients and other industry leaders we talk to, these generally end up being the top 5 cybersecurity threats that all are concerned with. Depending on the organization and their threat profile the order may change a bit.
Additional Resources
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1. Phishing and Social Engineering
This classic tactic remains a top threat due to its effectiveness. Phishing emails and social engineering attacks attempt to trick users into clicking malicious links, downloading malware, or revealing sensitive information. These attacks often target specific individuals and appear believable, making them a significant concern.
Here’s a recent example: A previously successful social engineering attack on Robinhood resulted in the threat actor gaining confidential credentials from a customer service representative by phone. The attackers were able to gain access to sensitive data by convincing employees to share their login credentials.
2. Malware
Malicious software, or malware, encompasses a wide range of threats designed to harm systems. Malware can steal data, disrupt operations, or even render systems unusable. Common types of malware include viruses, worms, ransomware, and spyware.
3. Ransomware
Ransomware is a particularly disruptive form of malware that encrypts a victim’s data, making it inaccessible. Attackers then demand a ransom payment in exchange for the decryption key. Ransomware attacks can be devastating, causing significant downtime and financial losses.
Statistic to Consider: According to a new report through the first half of 2024, Ransomware demands soar to $5.2M per attack. Ransomware attacks increase and the number of successful attacks result in higher payouts.
4. Cloud Security Threats
As cloud computing becomes increasingly popular, so too do cloud-based security threats. These threats can exploit vulnerabilities in cloud platforms or misconfigurations by users. In fact, organizations utilizing cloud services must take steps to secure their cloud environment.
5. Supply Chain Attacks
Cybercriminals are increasingly targeting third-party vendors and suppliers to gain access to a target organization’s systems. By compromising a less secure vendor, attackers can gain a foothold within the target organization’s network.
To see what other cybersecurity threats round out a top 10 list, you can read our article on the top 10 cybersecurity threats.
What is the Number 1 Cybersecurity Threat?
Malware seems to be a consensus for the number 1 cybersecurity threat according to industry reports, cybersecurity leaders and government officials. The potential impact ranges on what type of malware is deployed – from simple activity logging to a full on ranswomware attack – the havoc it can cause is the top reason it is listed at number one.
Cyber threats to national security are a major concern for governments around the world of which malware is a top consideration. These attacks can target critical infrastructure, steal sensitive data, or disrupt essential services. The potential consequences of a successful cyberattack on national security are severe, making it a top priority for many countries.
However, it’s important to note that the “number one” threat can vary depending on the specific industry or organization. A small business might be more susceptible to phishing attacks, while a large enterprise might be a prime target for a sophisticated supply chain attack. This is why all organizations should undertake cyber threat assessments to determine their susceptibility to various types. The findings can help these organizations improve their cybersecurity posture and resilience.
FortifyData analyzes and prioritizes the most impactful cyber threats facing your organization. The platform collects and aggregates data from existing security technology in conjunction with our own technology assessments to provide a comprehensive view and action plan of the threats and vulnerabilities your team should focus on.
Looking to automate cyber threat assessments? FortifyData can help you.
What is the Biggest Cybersecurity Threat Today?
The latest cyber threats are constantly emerging, making it challenging to pinpoint a single “biggest” threat. Cybercriminals are becoming more sophisticated in their methods, and new vulnerabilities are discovered regularly.
Here are some of the latest cyber security threats organizations should be aware of:
- Deepfakes: Deepfakes are realistic-looking videos or audio recordings that have been manipulated using artificial intelligence. These can be used to launch targeted social engineering attacks or spread misinformation.
- Internet of Things (IoT) Threats: The growing number of connected devices presents new security challenges. IoT devices can be vulnerable to hacking and may be used to launch attacks on other devices or networks. Remember the mirai botnet attacks?
- Cryptojacking: Cryptojacking involves using a victim’s computer to mine cryptocurrency without their knowledge or consent.
An organization’s risk profile may find that one type of threat is more prominent to them than a different organization. In our experience, we hear that mortgage companies are highly focused on email security and security awareness training since so much of their business operations rely on email communications of forms critical to the financing of a home purchase. This makes email security, domain squatting and awareness a larger focus for their cybersecurity program. Likewise, other clients with a large email component to their business with consumers or business partners might have a larger focus on email security.
What are the Top 3 Trends in Cyber Security?
Cyber security threats and vulnerabilities are constantly evolving, and so too are the approaches to combatting them. Here are a few of the top 3 trends in cyber security:
- Increased Focus on Security Awareness Training: Organizations are placing a greater emphasis on educating employees about cyber threats and best practices for staying safe online.
- The Rise of Artificial Intelligence (AI) in Security: AI is being used to automate security tasks, detect threats faster, and improve overall security posture. This will require oversight over the next few years as leaders verify the results to the point that they can increase their trust in AI recommendations and actions.
- Focus on Zero Trust Security: Zero trust security is a security model that assumes no user or device is inherently trustworthy. This approach requires continuous verification and authorization before granting access to resources.
Cybersecurity threats are a constant challenge. This is where conducting cyber threat assessments help organizations to understand the top threats and implementing effective security measures, organizations can significantly reduce their risk.
