Cyber threats are attempts by bad actors to exploit vulnerabilities, steal, sabotage or stop organizations from accessing information they’re authorized to use. These attacks are often carried out by organized criminal groups, state and non-state actors, or terrorists. They can range from a simple ransomware attack to the sophisticated “APT” (advanced persistent threat) attack that stays in place for months or longer, stealing massive amounts of data and damaging systems. The “threat landscape” is constantly evolving and can affect every industry in one way or another, from the private sector to local government to the military.
A cyberattack can take many forms, including intellectual property theft and exposing proprietary technology that could give competitors an edge. Attacks can also disrupt business operations by deploying tactics like denial of service attacks. These attacks can be costly, affecting reputation and customer trust. They can also have global ripple effects.
Businesses need to build resilience to cyberattacks through processes, policies, company culture and technical safeguards. They must continually reevaluate their risk exposure to improve security practices and ensure insurance coverage. They must also take a proactive approach to managing third-party vendors and supply chain partners, and understand the impact of a breach on their customers.
Understanding the value of your critical data and technology and determining how attackers could get into and manipulate it is the first step to taking preventative measures. The average breach lasts 150 days before being discovered. That’s long enough to cause financial losses, business disruption and even loss of life.
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