10 cybersecurity challenges: what users and companies to prepare for

In our article, we have compiled a list of the main challenges facing cybersecurity now and in the near future.

More and more organizations make cyber security of the corporate environment one of the priorities for a successful business today. Protecting from attacks is a major challenge that depends on many factors. As part of the Cyber Threat Prevention Day, ESET experts have prepared a list of key challenges facing cybersecurity now and in the near future.

1. Increase in cyberattacks

According to a report by Cybersecurity Ventures, global damage caused by cybercrime is expected to grow by 15% per year from 2021 to 2025 and could reach $10.5 trillion annually. The reasons for this growth are the significant activity of state-sponsored cybercrime groups and attackers. At the same time, attacks are increasing as a result of digital transformation.

2. Shortage of qualified cybersecurity professionals

With the increased demand for cybersecurity professionals, there is a continued growing shortage of qualified cybersecurity professionals. According to the (ISC)2 Cybersecurity Workforce Study, the global cybersecurity talent shortage is 3.4 million, with 70% of organizations having open positions. Many nations are working to alleviate this shortage, and large companies such as Google, Microsoft, and IBM have various initiatives in place to train and develop people in cybersecurity. 

Meanwhile, the World Economic Forum has partnered with several companies to launch an online educational platform for individuals and organizations called the Cybersecurity Learning Hub. The goal of this project is to train and improve the skills of cybersecurity professionals to ensure quality work in this field.

3. Lack of support for an inclusive workforce

In addition to staff shortages, another challenge for cybersecurity is supporting diversity and inclusion in the selection of staff for employment. Specific initiatives and policies need to be developed to attract less protected groups in society, such as people with disabilities.

This is not only a values issue but also a challenge to innovation and productivity, which are key success factors for any organization. In addition, engaging such groups of people will help reduce the shortage of qualified cybersecurity professionals.

4. Transitioning to remote and hybrid work

Due to the digital transformation of businesses caused by the pandemic, many companies faced security challenges in the corporate environment. Then the number of remote desktop protocol (RDP) attack attempts increased by a record 768% during 2020, proving to be one of the most vulnerable places in enterprise infrastructure.

So now companies should continue to properly train and enable employees who work remotely to avoid potential risks and protect themselves from new cybercriminal attacks, which are constantly looking for new cybersecurity flaws in corporate networks.

5. The growth of darknet activity

The huge increase in criminal activity on the darknet in recent years, especially since the pandemic began, is a serious problem that once again shows the importance of research on these Internet networks.

Monitoring the darknet helps cybersecurity professionals prevent attacks, and understand how fraudsters and cybercriminals think, what malicious tools attackers use to access organizations’ systems or to deceive users, and what corporate data is distributed in black markets.

6. The emergence of new sophisticated cyberattack tactics

One type of phishing that has recently intensified is hybrid phishing, which combines the traditional email-based method with vishing. This type is used to gain access to an organization’s systems and deploy malware such as ransomware.

In a recent attack, a potential victim first received an email, such as a renewal of a subscription to a service. If the user wanted to cancel the subscription, they could call the customer service number listed in the email. During the call, the victim is tricked into installing the malicious app, which can often spread to other devices. 

Meanwhile, machine learning capabilities to create false voices are evolving rapidly. A serious threat is the number of attacks in which fraudsters use machine learning-based tools. In particular, to mimic the real-time voice of the director of a certain company in order to convince an employee to transfer money to an account that actually belongs to the attackers.

7. Interest in cryptocurrency is growing

Not only users, companies, and government agencies are finding new ways to use cryptocurrency, but also cybercriminals. The increase in cryptocurrency fraud schemes has confirmed hackers’ interest in the field. Not surprisingly, security challenges in the cryptocurrency world also often make headlines.

Using cryptocurrency, NFT, and gaming platforms, attackers often create new phishing sites to steal user credentials, particularly to log into cryptocurrency wallets. At the same time, cryptocurrency exchanges are caught in the crosshairs of APT groups. For example, $625 million worth of cryptocurrency was recently stolen from the video game Axie Infinity, which has been linked to Lazarus cybercriminals.

8. Ransomware activity is still high

Ransomware is still a serious problem that requires organizations to protect themselves as much as possible. In particular, they need to take care of tools to counter ransomware attacks, provide comprehensive security training programs for employees, and be prepared to recover if an attack does occur. From 2020 to 2021, the number of ransomware attacks doubled, remaining the most devastating threat to businesses.

9. The impact of the virtual world

Forecasts of the meta world show that by 2026, 25% of the world’s population will spend at least 1 hour per day in this virtual world. Therefore, security in the meta world is a challenge for the future.

These shared virtual worlds for communication and gaming will undoubtedly lead to more attacks and fraud. In addition, technological innovations are not always designed with security and privacy rules in mind, as the priority is to get to the market faster.

10. Lack of user awareness

The basic problem that cybersecurity will always face is a lack of digital awareness among employees regarding attack vectors and how to recognize them. Therefore, employees are the weakest link in the defense of any organization. However, by raising awareness of today’s threats, employees can become the first line of cyber defense. 

Considering the above-mentioned cybersecurity problems, experts remind about the importance of following basic rules, such as creating complex passwords, especially for students who must take care of the security of their work. After all, if your paper is lost or stolen, you will have to contact the write my essay for me service.

It is also important to use two-factor authentication in all your accounts, make online payments only on verified sites, and ensure the security of your smartphone, laptop and smart device.