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May 15 2022 | by Mohammed Hanif

Why have enterprise cybersecurity threats increased so much?

Cyberattacks are in the news. Sensitive data is at risk and systems are being compromised. We're living in an age where cyber threats are becoming more and more frequent. Why is this happening? 

The experts at Novigo Solutions point to 6 main reasons for the drastic growth in enterprise cybersecurity threats 

1. Black Market Cybercrime Tools Are Cheaper Than Ever 

The black market has been around for a while, but tools and services are cheaper than ever. This is behind the rise of ransomware, which infects computers and holds them hostage until users pay up. 

Cybercriminals now have access to cheap, powerful, and easy-to-use tools that can help them launch attacks. These tools include RATs (remote access Trojans), malware, keyloggers, etc. They also have access to ready-made exploits for popular software like Adobe Flash Player and Microsoft Office 365. 

Black market cybercrime tools are cheaper than ever. For example, you can buy a fully functional exploit kit for just $100. And if you want some training on how to use it, they'll give you that too! 

2. There's a Shortage Of Cybersecurity Professionals! 

Cybersecurity has become a priority for every business, but there are not enough trained professionals to defend against the growing number of cyberattacks. According to research from Frost & Sullivan, the number of cybersecurity jobs is projected to grow by 19% over the next five years — faster than any other IT category. 

There are several factors contributing to this shortage. One is the sheer volume of attacks and data breaches over the past few years. As more businesses have been compromised, the demand for cybersecurity professionals has increased exponentially. This has created a hypercompetitive job market where qualified candidates are in high demand, but there aren't enough people with the right skills to fill these positions. 

Another reason for this shortage is that many organizations don't understand what it takes to become a good cyber defender. Cybersecurity isn't just about knowing how to write code or understand computer systems; it's also about understanding human behaviour and psychology and knowing how attackers think so you can anticipate their next moves. This demands a perfect blend of AI and strong cyber tech (like the DarkTrace system). 

3. Weak Passwords Are An Easy Target  

Because they're easy to guess, weak passwords are often the target of hackers. 

Weak passwords are an easy target for hackers. For example, if you're using a combination of your name, birthday, and your pet's name as your password, it won’t take long for someone to crack your account. 

According to a recent survey from SplashData, "123456" and "password" remain the most used online passwords. The same survey found that 11% of people use their own names as an online password, which makes it even easier for hackers to gain access to your accounts. 

The best way to protect yourself is by using a password manager that generates strong passwords and remembers them all for you. You can also use two-step verification to ensure your account is as secure as possible. 

4. Social Media Has Created New Forms Of Cyberattacks 

In a world where everyone is connected, social media has created new forms of cyberattacks. 

Social media platforms are a magnet for malicious actors who want to take advantage of the millions of users on these platforms. They use social engineering and targeted phishing campaigns to compromise user accounts, steal personal information and credentials, and ultimately infiltrate corporate networks. 

Malicious actors also use social media to spread malware and other threats through links or attachments in posts or messages. Phishing attacks – emails that appear to come from trusted sources but contain links or attachments that carry malware – have become more prevalent since they can easily be disguised as legitimate communications from friends and colleagues via email. 

5. It’s Become Lucrative To Be A Hacker 

In the past, hacking was a hobby for people with a lot of time on their hands. Now, it's more like a job. 

Hackers don't need to be experts anymore. It’s a profession like any other, with organized teams and structures. People across levels can use tools and services that make it easy for them to break into computers by exploiting flaws in software. Hacker setups have started concentrating on organizations because the potential rewards are bigger. For example, it costs less than $30 for someone to register a domain name, set up a website and start selling malware. 

So, the barriers to entry in the hacking community have fallen dramatically. In fact, there is no barrier at all — anyone can learn how to hack by watching videos on YouTube, reading books and practising on their own computer systems. 

6. Network Connected Devices Are Growing At An Exponential Rate, And They Make It Easier For Hackers To Infiltrate Enterprise Networks 

 More network-connected devices are available for hackers to use. 

In the past, hackers needed physical access to a computer or network to exploit vulnerabilities. Today, the attack surface area has expanded dramatically. Hackers can simply leverage the Internet of Things (IoT) and other connected devices to gain access to networks. 

According to Gartner Research, the number of IoT devices that have been connected to enterprise networks has increased by 30% in just the last year alone. And those numbers are expected to continue growing exponentially over the next few years. The problem with this trend is that it makes it easier for hackers to infiltrate enterprise networks. 

Conclusion:  

With so much data flowing in and around organizations and employees, it should be no surprise that enterprise cybersecurity threats have increased. To prevent these threats, enterprises need to focus on the basics—starting with investing in the latest network security technology. For this reason, organizations should stay abreast of refreshes to popular enterprise cybersecurity solutions, like DarkTrace AI by Novigo Solutions. If you are curious to know more about this, contact our experts today and protect your business from vulnerable attacks. 

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