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Businesses brace for more sophisticated, cyberattacks in 2015

Jan 4, 2015

This post is also available in: עברית (Hebrew)

The recent Sony Pictures hack is one more reason for industries to prepare for a series of cyberattacks which will likely occur in 2015. From massive data leaks to distributed denial-of-service (DDoS) attacks, hackers will continue to find vulnerabilities within targeted network systems. Cybersecurity firms are recommending more ways to help clients defend themselves from such attacks.

According to homeland security news wire, as e-commerce and Internet banking gains more popularity, cybercriminals will exploit multiple vulnerabilities, keeping in mind that new e-commerce platforms are not as likely to invest in cybersecurity measures as their more seasoned counterparts.

Even firms with the most sophisticated security systems can fall victim to cyberattacks. Such was the case with JP Morgan Chase, when hackers breached the bank’s digital infrastructure, compromising the accounts of at least seventy million households and seven million small businesses. Recently, people with knowledge of the review of the attack said the breach, which occurred after cybercriminals stole a bank employee’s login credentials, might have been prevented had JP Morgan ensured all of its servers were installed with a two-layered security system (two-factor authentication), like most banks rely on.

The growing popularity of mobile devices for the workplace also brings about new vulnerabilities that cybercriminals will exploit. Cybersecurity firms are advising companies to remind employees to frequently update passwords used for mobile enterprise applications. Many companies still do not have their privacy policies in place: what can be stored and what cannot be stored. For example, if you want to use the file-sharing application that syncs all your devices, you would need to dictate what can and cannot be up there – such as intellectual property or staff personal data with sensitive information.

As mobile devices become increasingly connected to home security systems and even vehicles, cybercriminals will begin to target mobile applications. Mobile users must regularly educate themselves when giving up privacy in exchange for these applications. While many Internet users are reluctant to share banking and personal identifiable information online, they are willing to share information about their location, access to photos, contact lists and fitness information for free mobile apps.

Should an organization be attacked by cybercriminals, firms must inform the public when such a breach has the potential to affect customer information. Doing so will empower the public to take steps to protect themselves by changing passwords and making regular updates to secure their personal data.