5 cyber security challenges faced in 2021

Cyber security presents many dynamic challenges within itself and with the addition of the ever changing technology, the list continues to grow in relation to implementing the best practices in keeping your business secure. There are several factors that contribute to your cyber security such as your technology, software, IT infrastructure, networks and connection. 

The recent introduction of 5G or IoT (Internet of Things) requires IT departments and companies to further enhance their cyber security services and practices to provide the relevant cyber security training to their company/clients. 

To a business their assets are absolutely crucial to ensuring that they can continue to operate efficiently with minimal disruption and panic. Therefore it is important that all employees have an understanding of cyber security and what measures they need to take in the event of a cyber attack. As time goes on, cyber attacks become more sophisticated and complex as cyber criminals become smarter. With the world becoming more and more technology-driven, reliant on devices and the introduction of working remotely, implementing the right cyber security measures couldn’t have come at a better time.

1. Cyber security & remote working

Over the course of the last couple of years, we have been introduced to a new way of working as a way to slow the spread of coronavirus. In fact, statistics show that in 2020 46.6% of the people in the UK worked remotely and 86% of these people did so as a result of the pandemic (1). Even now in 2021 we see so many businesses continuing to work remotely or doing so on a part-time basis. 

However the biggest challenge of employees working from home has been the use of unsecure or untrusted networks. This presents a vulnerability for cyber attackers to utilise and gain access to your private data. Without a doubt, there is a distinct correlation between remote working and cyber attacks. Findings by the London City Police report an £11 million loss due to coronavirus as a result of cyber attacks in 2020 (2).

Traditional office settings have the processes in place to ensure that your employees are protected and data is kept secure. This is normally maintained through secure networks, antivirus software, data protection, back-ups and much more.

2. 5G

When 5G was first introduced, many businesses were excited to utilise its uses and benefits. It is the ideal switch from 4G to improve efficiency. 5G aims to increase the speed and response time of wireless communication which is particularly useful for businesses that travel and move a lot. As with all new technology, it comes with its own set of vulnerabilities and therefore it is crucial for businesses to address the new risks and put measures in place to minimise them.

3. Cryptocurrency

Cryptocurrency has experienced a huge exponential growth in user interest in the recent year. As all crypto transactions are digital it poses a series of potential problems in relation to cyber security. The right measures need to be taken to protecting your business and the transactions that are taking place against any security breaches or theft. 

The last thing that a business would need is for a crypto exchange to be attacked resulting in information and your investment being compromised. Businesses that are looking to implement and use cryptocurrency need to seriously invest in their IT infrastructure in the event of a cyber attack which could cost thousands (3). In fact, many believe that cryptocurrency and blockchain transactions are completely anonymous but that isn’t entirely true. Although your name is typically masked by a combination of numbers, symbols and letters, this information is public and cyber criminals could expose your true identity (4).

4. Internet of Things (IoT)

IoT refers to the technology segment which focuses on security of connected devices and networks. Each device or network is provided with a unique identifier which allows them to communicate with each other and transfer data across through interconnection and sensors. As more private data is passed between devices, a vulnerability may exist which creates an opportunity for cyber criminals to exploit and compromise your information. 

A recent legislation has been put in place ‘Internet of Things Cybersecurity Act of 2020’ which states a series of standards for these types of devices to force an adequate degree of protection.

4. Scams

Although most people are aware of cyber security and the common measures to protecting their information and devices, phishing scams in particular are still a significant threat in the digital world. Research shows that in 2021 when the Covid-19 vaccine was first introduced, it sparked an increase in the number of potential phishing attacks (5). Several fraudulent vaccination emails were being sent with many online users falling victim to this scam.

Most businesses have email protection in place which halts any spam or threat emails. However the most effective way to prevent these scams, even when your employees are working from home, is to provide cyber security training. If employees know what signs to look for and are able to recognise phishing emails, this will heavily reduce the risk of data being compromised.

 


 

To learn more about cyber security or for more information about how we can help protect your business from cyber attacks, speak to our IT specialists today by calling on 0121 289 4477 or email us at info@solutions4it.co.uk

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