Everyday cybersecurity threats are becoming more widespread and harder to identify. Small businesses need to keep their guard up to avoid data breaches that can result in financial losses or even shutting down. The first step to making your business cybersecure is to learn how to spot the latest cybersecurity threats so you can prevent them from wreaking havoc on your operations. Continue reading to learn more about the cybersecurity threats most likely to target your business in the new year, as well as how you can better defend against them.
AI Driven Attacks
Since artificial intelligence (AI) has become easily accessible for everyone to use, the number of AI-driven cyberattacks has skyrocketed. This technology has made it much easier for cybercriminals to create and execute cybersecurity threats. Instead of spending time writing the perfect phishing message or bypass security measures, cybercriminals can now use AI to accomplish these tasks in no time. As a result, businesses are being flooded with sophisticated phishing, deepfake, and social engineering attacks that are becoming more and more convincing. AI is being used in most cybersecurity threats these days, including the following ones in this blog. Luckily, AI can also be used to protect your business by analyzing data and detecting suspicious activity before cybercriminals can break into your system and steal your data.
Phishing and Social Engineering
Phishing attacks have become increasingly difficult to spot thanks to AI. Not only can AI write and send out countless phishing emails and text messages, but it can also create convincing deep-fake messages. Cybercriminals are using AI to create fake videos or phone calls from celebrities and even people you know personally, asking for money or private login information. These kinds of social engineering attacks appeal to a victim’s desire to help others and convince them that they are listening to a trusted source. The reality however is that cybercriminals know exactly what to say and who to pretend to be to get you to cooperate.
Regular cybersecurity training is crucial to ensure everyone in your business knows how to spot a phishing scam and what to do if they suspect one is in their inbox. Encourage everyone to report these cybersecurity threats to your IT team so they can block malicious actors and check your systems’ security.
Ransomware
According to Chainalysis, businesses lost $813.55 million to ransomware attacks in 2024. These kinds of cybersecurity threats hack into your systems and encrypt your sensitive information so you can’t access it and perform your daily operations. Worse, these cybercriminals will demand you pay to be able to access this data again. Many ransomware attacks even use techniques like double extortion where cybercriminals threaten to release your private data to the public if you don’t pay up. Not only does this cybersecurity threat steal the valuable data of your business and customers, but it can also drain your finances and ruin your reputation as a secure company.
Ransomware attacks can come in many different forms such as phishing emails or pop-up ads. To avoid this type of cybersecurity threat harming your business, be sure to implement employee training so your entire staff know how to spot a malicious link or actor. You should also make sure your software and systems are being updated regularly to ensure there are no holes in your cybersecurity systems hackers can exploit. And even if cybercriminals do get past these defenses, use multifactor authentication (MFA) to verify every login attempt with a code sent to a secure phone number. This will prevent cybercriminals from using your login credentials to access private data without access to your personal message.
Supply Chain Attacks
Cybersecurity threats won’t always target your business directly, sometimes they’ll infiltrate your vendors’ systems to break into yours. This is known as a supply chain attack. After cybercriminals hack into a third-party vendor’s systems, they can install malicious code into software and hardware you use to run your business. Before you know it, your data has been breached.
You can’t protect your suppliers from cybersecurity threats, but there are steps you can take to defend against supply chain attacks. Start by thoroughly researching your vendors to understand what security measures they have in place. Set up strict access controls so third-party vendors can’t login to any of your systems without your permission. And lastly, never miss a software update as these patch vulnerabilities in your systems and ensure you have the latest security measures installed to combat cybersecurity threats.
IoT Exploitation
Nowadays, all business devices are connected to each other through their shared network, allowing them to collect and exchange data. These devices are known as internet of things (IoT) devices help businesses see where their data is going so they can optimize their operations. While convenient, IoT devices also create a big target for cybersecurity threats. Since everything is connected, it only takes one exposed vulnerability to infect the entire system.
Avoid data breaches through IoT devices by setting up strict security policies like MFA to prevent unauthorized access to your network. Regular updates to software are also a must to ensure you have the strongest defenses against the latest cybersecurity threats. If possible, you should also place IoT devices on a separate, segmented network apart from your primary business systems. This limits the access cybercriminals would have to your sensitive information, protecting you from a major data breach.
Protect Your Business from Cybersecurity Threats
Cybersecurity threats are always evolving to find new ways to break into your systems. Keeping up with the latest ways to defend your business can feel overwhelming, but it doesn’t have to. Sign up for our free weekly newsletter to get quick tips you can use to ensure your business’ data is safe no matter what.
