According to an extensive report, ransomware attackers have started to use data extortion tactics. The modern tech landscape is going through a paradigm shift and has managed to help companies become more productive.

With the advent of the tech revolution, many companies might feel they’re heading in unchartered territories. So, it makes sense to keep an eye on emerging cybersecurity threats. It would allow your company enough time to be prepared and ward off potential cybersecurity threats beforehand.

Keeping that in mind, let’s take a look at the cyber threats businesses can anticipate in 2021:

DDoS Attacks

A DDoS (Distributed Denial of Service) attack refers to an overloaded server with excessive traffic that shuts down a website. DDoS attacks have become more common than companies realize. Research proves that DDoS attacks doubled in 2020 and will continue to increase at the same pace.

According to Cyber Week, there is a 65% increase in DDoS attacks. But the good news is that most companies are aware of the DDoS attacks and deploy basic safety measures.  The solution is to monitor site traffic, practice cyber hygiene, and analyze DDoS risks to develop mitigation tactics.

Ransomware Attacks

It is no secret that ransom continues to have high profitability which means it can come back even stronger in 2021-22. The prominence of ransomware started back in 2017 and now it is everywhere in the world. But context matters when it comes to ransomware attacks.

The threat of ransomware lingers but the promise of new technologies also would help companies to move forward in the right direction. The new wave of ransomware attacks would be more aggressive and equipped with the newest technologies like artificial intelligence.

Powerful ransomware attacks can bypass malware detection seamlessly and restrict access to critical data. Businesses can expect widespread network corruption and infection. In the coming years, businesses will have to save multiple copies of their data backup to get out of cybercriminals’ trap.

Remote and Cloud Attacks

The new age of digitization brings remote work possibilities with better collaborative spaces. However, it has also opened a Pandora of cybersecurity issues that might come in the way of companies’ growth. In the next few years, digital transformation will become a reality for many businesses. And security should be part of the digital transformation transition.

Today, cybercriminals are more than capable to spot the weakest network point and attack a business network. At this point, a cybercriminal can create a data breach and attack the foundation of cloud infrastructure.

Businesses should avail third-party solutions and maintain a robust access control system. Also, companies must roll out an enterprise-level firewall system at each node. Implementing multi-factor authentication or biometrics system is also an excellent security initiative.

Fileless Attacks

Fileless attacks have become a stealthy approach for cybercriminals to make data breaches. As the name suggests, fileless attacks don’t depend on file payloads or create new files. Instead, these attacks use existing features that are available in the victim’s system infrastructure and IT environment.

Fileless attacks begin with a single link click that redirects the user to a malicious site. Think of it as social engineering that traps a user on the site through system tools to retrieve and unload malicious viruses in the memory.

In most cases, fileless attacks go undetected. With an ocean of fileless attacks on the horizon, companies should maintain a protocol to not click on suspicious links and keep an updated system. Another way to avoid fileless attacks is to keep an eye on the network traffic and disable non-critical system tools.

Bottom Line

The objective of “your” company should be to raise more awareness and create a more uniform cybersecurity position. Counteract the efforts of hackers and ensure your business stays untouched by cybercriminal activities. It looks like 2020 was a trailer and 2021 would reveal the full extent of threats.

As of now, it seems social media spoofing and 5G-based swarm attacks will get all the headlines. Fortunately, broadminded companies are more cautious and vigilant about cybersecurity threats than ever. It’s a new journey for companies to walk the fine line and opt for a new approach to mitigate potential cybersecurity issues.

Learn more in our on demand webinar, Cyber-21: What to do to Stay Protected.