Top 5 Digital Security Challenges Companies Face

The internet is constantly evolving, and businesses are finding new ways to scale and drive revenue. While the internet provides convenience to both parties, it also creates various opportunities for cybercriminals to exploit. Ignoring your company’s digital security can lead to breaches that affect business growth drastically. Specifically, according to IBM statistics, a data breach can cost companies $1.3 million in lost business.

Companies that operate in online space to connect and communicate with their customer base are more prone to cyber threats. Organizations rely on various tools and software to ensure the continuity of their day-to-day operations. Attackers can target these communication channels and essential work tools to compromise your system security. Thus, without any proactive approach to safeguard your company, you could be at risk of facing serious consequences.

This article will shed light on the top 5 digital security challenges companies face to help you consider a solution.

Importance of Digital Security for Companies

Deploying a reliable digital security solution for your company helps you to monitor your online assets actively. Digital security companies are crucial as most businesses operate in an online space. This keeps their confidential data on the internet, which attackers can exploit as they see an opportunity. Therefore, if a successful breach happens in your business, it can lead to setbacks that are hard to recover from.

Here are the top digital security challenges encountered by organizations.

1. Unsecure Home Networks

Businesses rely on the Internet for their day-to-day operations. While the internet helps a business streamline their tasks and stay connected, it also raises cyber threats. Specifically, when an organization uses various wireless networks in the workspace, it can attract cybercriminals to exploit your security.

There are various common security problems in wireless networks, such as weak and outdated encryption controls. Cyber attackers can use this to decrypt your network traffic and gain access to confidential data being transferred and received. Knowing this, businesses opt for digital risk protection services to help them secure their network infrastructure and keep attackers at bay.

   2.Social Media Threats

Businesses use social media for marketing campaigns and for enhancing brand awareness. Hackers find social media an easy target to gain access to your company's critical data and steal away confidential information. There are various ways hackers do this, and one of them is using third-party applications that use your login credentials.

Specifically when you log in on a site through your Facebook account or any other social media account. These third-party applications take permission to gain access to your account, and once you grant it, it puts you at risk. Therefore, social media is becoming a top choice by the hacker community, which can hurt a business in numerous ways.

    3.Outdated Software

Another common challenge faced by companies is undetectable threats. Specifically, when a computer gets affected by a polymorphic virus, it becomes unnoticeable. A polymorphic virus is a type of virus that changes its coding continually to avoid being caught by anti-virus software. According to a study, 32% of computers with anti-virus protection are infected.

This is because companies don’t pay attention to updating their software and tools that can be exploited. This is equally important for applications that are not being used in your daily flow of operations. For example, hackers can use applications like Adobe Flash and Java Runtime to disguise themselves.

   4.Ransomware Effects

Most businesses face ransomware attacks frequently due to weakened system security. Ransomware is a type of attack where cybercriminals compromise your security and gain access to data or a computer. Attackers then prevent companies from accessing their data until a specific amount is paid.

Specifically, some businesses use tailored business software to complete their daily tasks. While this may bring ease to their daily flow of operations, maintaining its security can be equally important. This is crucial if your business software stores sensitive customer and company data and has a low level of security. Hackers can easily block a company’s access to the software and blackmail until a sum is paid.

    5. Lack of Protection

The rise of cyber threats is continuously increasing, and without any active cybersecurity solution in place, your business can be vulnerable. Additionally, according to statistics, the cybercrime cost will reach 10.5 trillion by 2025. Therefore, companies that stay active on the internet without any protection system in place are easily targeted by cybercriminals.

Staying one step ahead of cybercriminals is important to avoid getting breached. This allows them to focus on other important aspects of their business without being concerned about their security. Considering this, most organizations invest in digital risk protection services that ensure 24/7 proactive safety for their business.

How Can You Harden Your Digital Security?

Keep cybercriminals away from your business by leveraging expert’s knowledge and skills. Enhance positive reputation in the industry by minimizing chances of data breaches. Contact now to get tailored services and safeguard your company from emerging cyber threats.