Cybersecurity threats pose a grave risk in a technologically enabled world. IT expert Manuel Goldring covers some of the most pressing issues.
Cyber attacks are a grave concern for businesses big and small, and the United States as a whole. Modern technologies offer a lot of conveniences but also expose organizations and individuals to cyber threats. Tech expert Manuel Goldring provides insights.
“Given the tense geopolitical environment, the risk of cyber attacks is increasing,” Manuel Goldring notes. “Further, criminal groups are becoming savvier, and cyberattacks can be highly lucrative.”
In recent years, shady hacker groups have attacked infrastructure in the United States, shutting down oil pipelines, disrupting medical care, and stealing data, often holding it hostage or otherwise misusing it. In some instances, authorities suspect that rival governments are supporting these attacks, or at the very least, turning a blind eye to criminal activities.
Unfortunately, companies far removed from political situations may be targeted. Some hacker groups will avoid targeting businesses from certain countries, say Russia or China, and will focus their efforts on European Union or American organizations. If you’re in a targeted country, you may face increased risks.
“Even if you avoid political spats, the fact is, you may get dragged into tumultuous situations simply owing to your national or regional affiliation,” Manuel Goldring says. “Strong cyber security policies and the right tools can mitigate threats thankfully.”
So how big of a threat are cyberattacks? Estimates vary and costs are often dependent on the size of the company or organization targeted. Sum Logic found that the average cyberattack cost $133,000 in 2020. IBM reports that in 2021, the average data breach cost $4.24 million. Cybersecurity Ventures projects that total costs will rise to $10.5 trillion by 2025.
“The cost and scale of cyberattacks often take business leaders by surprise,” Manuel Goldring points out. “Many businesses are heavily reliant on technologies and the Internet. Hackers can steal money, shut down business processes, and abscond with sensitive data, among many other things.”
Underestimating the risks posed by cyber security threats could prove a grave mistake. Cybersecurity Ventures reports that 60 percent of small companies go out of business within just six months after suffering an attack or data breach. If companies don’t manage threats proactively, it could undo years of hard work and investments.
Manuel Goldring Offers a Vital Tip For Safeguarding Against Cyber Attacks
Preventing cyber attacks is easier said than done. However, there are steps individuals and organizations can take to reduce threats. Everything starts with recognizing how serious cybersecurity is and then establishing proactive policies to prevent mishaps.
“Many attacks result from simple human error,” argues Manuel Goldring. “A weak password could let hackers in through brute force. Forgetting to update plugins on your website could leave an easy exploit in your software. Employee training is vital.”
A company is only as secure as its employees. Organizations should institute strong password policies and hire tech experts who take security seriously. Also, train your employees to look out for phishing emails. With these, social engineers pretend to be authorities, says the IRS, to get unsuspecting folks to hand over passwords and other sensitive bits of data.