Quest News™

January 13, 2016

2016 Cyber Security Predictions

Cyber security threats loom heavily over the technology of the time. IBM and the Ponemon Institute released a benchmark study in May of 2015 that saw average costs of $3.79 million for the 350 companies in 11 countries that participated in the study.

So, what are the big targets for cyber thieves this year? The answers might surprise you.

Ransomware attacks are perpetrated by criminals through hacking into your company’s system. They then encrypt the data, rendering it unusable. In order to reverse what they have done, they demand a ransom. Some experts think that the rise of paying through mobile phones will entice hackers to do this on an individual level.

The Internet of Things
Everything is connected. Your home appliances are connected to your mobile device, your tablet to your home’s router, and your computer to your television. For companies, machines communicate wirelessly with computers, and trucks transporting goods remotely relay GPS coordinates and other data to head office. All of these are weaknesses in the eyes of the cyber criminal.

These scams have become more sophisticated as time passes. Although people are targeted everyday, thieves have set their sights higher. In the corporate world, they approach executives. They may hack their email accounts to ransom personal information or destroy data. Thankfully, protecting yourself and your company from these sorts of phishing scams are easy and often lie in better anti-virus software, regular computer scans, and educating employees on common cyber threats.

Cloud Services
Cloud services render on-site servers virtually unnecessary. Why have an IT team care for data and the hardware it is stored on when you can hire someone else to do it? When you hire another company to oversee any aspect of your business, you take on their weaknesses, too. Your data could be at risk with a cloud-based server. It’s the price to pay for convenience. Whatever you do, always research the company well before deciding whether or not your business’s data is safe in their hands.

Avalon offers protection when you're held liable for cyber security threats. Coverage can be provided for e-theft, copyright or trademark infringement, e-vandalism, destruction of data, privacy notification expenses, crisis management, and more. Find out more here.

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