The COVID-19 pandemic impacted individuals and businesses worldwide, drastically altering daily routines and operational models almost overnight. Amidst the chaos, the cyber landscape experienced unprecedented changes, significantly expanding cybersecurity attack surfaces. This rapid transformation has left many businesses vulnerable, highlighting the critical need for robust cybersecurity strategies.
Here are four key reasons why cybersecurity attack surfaces are expanding:
1. Increased Use of the Internet of Things (IoT)
Consequently, the proliferation of IoT devices has created numerous new entry points for cybercriminals. In the U.S. alone, around 56 federal agencies reported using IoT technologies, and by 2021, the number of connected devices worldwide was expected to reach over 10 billion.
Impact on Cybersecurity:
- Each IoT device represents a potential vulnerability.
- Many devices lack robust security features, making them easy targets.
- Compromised devices can serve as entry points into larger networks.
2. Rapid Adoption of the Cloud
The shift to remote work accelerated the adoption of cloud technologies. Global public cloud end-user spending was projected to grow by over 18% in 2021. As a result, this growth signifies a significant increase in cloud adoption, further emphasizing the shift toward digital transformation. While the cloud offers flexibility and scalability, it also introduces new security challenges.
Impact on Cybersecurity:
- Misconfigured cloud settings can expose sensitive data.
- Increased risk of data breaches due to shared resources.
- Complexity in managing security across hybrid environments.
3. Accelerated Digital Transformation
As a result of shifting market conditions, businesses worldwide quickly fast-tracked their digital transformation initiatives to adapt to new demands. IT spending was projected to reach $3.9 trillion in 2021, with investments in digital transformation technologies increasing from $1 trillion in 2018 to $2.39 trillion in 2021.
Impact on Cybersecurity:
- Rapid deployment often overlooks security best practices.
- Legacy systems integrated with new technologies can create vulnerabilities.
- Greater digital presence increases exposure to cyber threats.
4. Work-From-Home Model
Consequently, the remote work model, which was initially a temporary solution, has now become a permanent fixture for many organizations. By 2028, over 70% of all departments are expected to have remote workers.
Impact on Cybersecurity:
- Home networks lack enterprise-level security.
- Increased use of personal devices for work purposes.
- Greater risk of phishing attacks and credential theft.
Growing Cybersecurity Risks
With expanding cybersecurity attack surfaces, businesses face a surge in sophisticated cyber threats:
- Targeted Ransomware Attacks: Over 10% of breaches in 2021 involved ransomware, with inexpensive ransomware kits available on the dark web.
- Phishing Attacks: A sharp 11% increase in phishing attacks was observed in 2021, exploiting global events like the pandemic.
- Insider Threats: Close to 20% of breaches involve internal actors, with negligent employees being the primary cause.
- Fileless Attacks: These attacks exploit system tools without leaving a traditional file footprint, making them harder to detect and 10 times more successful than file-based attacks.
How to Stay Protected
To mitigate risks and safeguard your business:
- Automate Patch and Vulnerability Management: Keep systems updated to close security gaps.
- Implement Robust Backup Solutions: Ensure quick recovery from disruptions.
- Deploy Advanced Security Tools: Use antivirus, antimalware, and endpoint detection and response (EDR) solutions.
- Secure New Devices: Equip devices with firewalls, DNS filtering, malware protection, MFA, and disk encryption.
- Develop an Incident Response Plan: Prepare a communication strategy for stakeholders during breaches.
- Conduct Regular Security Training: Educate employees and vendors on cybersecurity best practices.
Although assessing your current cybersecurity posture can feel overwhelming, we’re here to help. Therefore, contact us today for a comprehensive cybersecurity assessment tailored to your business needs. Moreover, partner with us to navigate the complexities of cybersecurity and ensure your organization is well-protected in an ever-evolving threat landscape.
