5 Top Cybersecurity Threats For Businesses In 2021

The world has changed significantly in many ways since the COVID-19 pandemic began over a year ago. Companies and their IT departments in the corporate world had to adjust rapidly to deal with the emerging threats and keep their businesses running.

And there was the shift to allowing remote work. Also, this shift persuaded the most adamant opponents of allowing workers to work from home to accelerate their implementation. In a global survey commissioned by Acronis this summer, most businesses (54.7%) said that empowering remote employees was their most significant challenge during the pandemic.

The second aspect of the equation was protecting such remote workers. As predicted, cyber-criminals immediately wanted to profit from the public's panic and demand knowledge about the pandemic. Researchers and attackers alike paid close attention to the work collaboration tools used by businesses, such as Zoom and Microsoft Teams. Acronis found that 39% of businesses have already witnessed videoconferencing attacks, with Canada, the United Kingdom, and Switzerland leading the list of most affected countries.

Most problems faced by companies are in the aftermath of the pandemic will persist well after the coronavirus outbreak has been contained. So, what can we expect from the recent reforms introduced to overcome IT hazards in the previous year (2020) that will help us better appreciate the challenges organisations will face this year?

Here are three predictions of IT threats that we expect companies will face in 2021, based on trends and recent researches conducted by experts and tech communities. 

1. Endpoint hazards

About 70% of threats come from endpoints. For so many remote workers who rely on always-on endpoints like laptops and servers, VPNs, and cloud-based SaaS, it is vital to think about implementing a robust security solution.

To overcome the risk blended with the remote workforce, use a sturdy, layered cybersecurity strategy, augmenting or even removing legacy technologies like antivirus that are not designed to tackle today's threats. Expand the spectrum of the SIEM to include all endpoints, incorporate defence-in-depth capabilities for vulnerable applications, and use attack avoidance, monitoring, and response to create a holistic strategy.

2. Drawbacks of Work-from-home

Remote workers have brought a lot to the table, including versatility, adjustability, and, sadly, several of the new attack vectors. We have made a quick transition to working from home, and the transition to dispersed devices and advanced networks has uncovered some security concerns.

Mobile devices and remote personnel can no longer be protected only by network security. To retain protection through business processes, safe remote connections and multi-factor authentication (MFA) are essential.

3. Cloud security risks

Businesses shifted their attention to business continuity due to COVID-19 and the WFH period, and for many, this meant a faster migration to the cloud. As a result of this pervasive transition, cloud security has become a top concern, with built-in security capabilities being the norm. When more business-critical data moved to the cloud, cloud platform controls and management capabilities became much essential. With this spike, it is essential to note that protecting cloud computing assets, applications, and infrastructural facilities is just as crucial as protecting on-premises IT architectures.

Find a cloud-savvy partner or managed security service provider (MSSP) to assist you in determining the best solution for ensuring cloud protection that meets your needs while also ensuring compliance with industry regulations.

MFA is not activated by 78% of Microsoft 365 administrators. Human error, such as misconfigurations that may contribute to data leakage, is another top-of-mind cloud danger. Enhanced cloud monitoring and surveillance can better account for potential risks, keep data secure, detect malicious activity, and track unusual incidents and activities.

4. Staff and skills deficiencies

Cybersecurity solutions have evolved and been more widely available than ever before, resulting in an over-reliance on point products to protect against attacks. Although technology is critical to this mission's success, it is not a solution. Mid-market companies also lack committed cybersecurity resources that are just as essential. The pandemic has intensified this skill deficit, as the network diagram has extended to cover surfaces such as at-home PCs and other WFH access points.

According to the recent surveys, small companies will be involved in almost one-third of data breaches in 2020, and recovery will include a planned range of people, processes, and technologies. It can be costly to hire more security professionals, especially given the increase in demand.

Rather than investing in a 24/7 security operations centre (SOC), outsourcing this work has become a popular and cost-effective solution for strengthening the defence strategy. This team can bring diverse technologies and processes together and build a single, strong point of visibility and awareness.

5. New Hazards

Threat actors have adjusted their techniques in lockstep with advancements in detection and reaction technologies. Multi-stage attacks, such as ransomware or "slow and steady" hacks, have arisen as emerging business threats. Stolen passwords are often used to allow these attacks, and cybercriminals might use such passwords to conduct surveillance and penetrate company networks and records.

Taking preventive action is one way to keep ahead of these challenges. For example, requiring multi-factor authentication (MFA) will help prevent the use of compromised credentials.

Managed threat protection solutions that offer end-to-end protections from mitigation to identification and response will alert you of these threats before they harm.

Cybersecurity Threats in 2021: What to Expect

Threat actors will become more sophisticated, emerging technologies will exacerbate vulnerabilities, and human error will always be a possibility. However, there are ways to reduce the danger that these risks face.

This means collaborating with a partner who will assist them in advancing their cybersecurity sophistication and achieving their protection objectives with certain companies. For some, it involves adding new systems, procedures, and IT personnel to their cybersecurity portfolio.

The first step toward achieving cybersecurity excellence is determining which areas need the most care. Do you know where your most sensitive data is in 2021?