Cyberattackers are out to steal money, destroy critical infrastructure, disrupt economies and even kill people. With data easily available on the black market, it’s easier than ever for bad actors to identify and target victims. The risk of getting hacked isn’t just a concern for businesses—it could harm customer trust, reputation and put companies in legal jeopardy.
Threats can come from criminal organizations, state actors and private individuals, as well as from software vulnerabilities, human error or mismanagement. Common cybersecurity attacks include phishing, which is an attempt to deceive users into providing sensitive information like passwords and financial details; ransomware, which encrypts data so it cannot be accessed; and malware such as Trojan horses, which can hide within apps or games. Attackers also exploit vulnerabilities in networking protocols to intercept and manipulate data.
Many threats are motivated by greed and lust for power. Nation-states and their proxies use sophisticated tactics to disrupt national security, steal innovation and intellectual property, engage in espionage, and threaten democratic institutions. In 2021 alone, the cost of data breaches reached $6 trillion globally.
Others are motivated by a desire to gain access to private information or to advance their hacker skill set. Individual hackers develop new threats to earn recognition in the hacker community and improve their ability to monetize their attacks. To avoid falling victim to these threats, organizations should stay up-to-date on the latest trends and attacks. They should assess their current state of cybersecurity by conducting a risk assessment and asset inventory, then take steps to mitigate their risks, including implementing privileged access management solutions.