Understanding the numerous cybersecurity challenges companies are now facing on a far too regular basis, is the first step towards developing effective strategies to protect your business.
Here, we explore the top cybersecurity challenges businesses encounter today following some of the latest reports and statistics available from reputable sources:
- Phishing and Social Engineering Attacks: Phishing attacks trick employees into revealing sensitive information or installing malware through deceptive emails or messages. These attacks are becoming increasingly sophisticated, making them a significant threat to businesses. In the UK, phishing remains the most prevalent cyber threat, with 84% of businesses targeted by these attacks (TechRadar). And, a recent survey by the UK government highlighted that many businesses still fall victim to phishing due to a lack of awareness and training (GOV.UK).
- Ransomware: Ransomware encrypts a company's data and demands a ransom for its release. This type of attack can severely disrupt business operations and lead to substantial financial losses. Recent reports show that ransomware incidents have affected many UK businesses, with medium-sized enterprises being particularly vulnerable (TechRadar). The rise in ransomware attacks underscores the need for robust defences and incident response plans.
- Unpatched Software and Systems: Outdated software and systems with unpatched vulnerabilities are easy targets for cybercriminals. Regular updates and patch management are crucial to closing these security gaps. According to a recent survey, many UK businesses struggle with maintaining up-to-date systems, leaving them exposed to potential attacks (GOV.UK). This issue was highlighted in a case where an unpatched vulnerability led to a significant data breach in a UK-based retail company.
- Weak Passwords and Insufficient Authentication: Using simple passwords and lacking multi-factor authentication (MFA) makes it easier for attackers to gain unauthorised access. Strong password policies and MFA are essential for securing access. A report by TechRadar indicated that weak password practices are still common among UK businesses, making them susceptible to cyber breaches (TechRadar).
- Inadequate Network Security: Poorly configured firewalls and lack of network segmentation leave businesses vulnerable to attacks. Robust network security measures are vital to protect sensitive information. Improvements in cyber hygiene practices, such as updating malware protection and implementing network firewalls, have been noted, but many UK businesses still face significant challenges (TechRadar).
- Lack of Security Awareness and Training: Employees are often the weakest link in cybersecurity. Without proper training, they may fall prey to phishing scams or mishandle sensitive data. Regular security training can significantly reduce these risks. Breaches of employee data increased by 41% in 2023, analysis by the law firm Nockolds found. (HR Magazine)
Intergence can help your business tackle these challenges with our managed security services. We offer tailored solutions, continuous monitoring, and employee training programs to ensure your business stays protected against evolving threats.
Join us at our event, "Cyber Resilience: Strategies for Business Protection," where industry experts will share insights and strategies to help you overcome these challenges and protect your business, or reach out to us to discuss your requirements or concerns.
