Cybersecurity: the biggest risks for companies

The state of cybersecurity in has worsened in recent times due to the increase in cyber-attacks, such as ransomware, espionage and sabotage.

Companies face new risks every day, due to the digitalization of companies and the increase in labor mobility or teleworking, and IT security plays a relevant preventive role.

In fact, the current cybersecurity situation for businesses is extremely tense. Cybersecurity attacks pose a substantial threat to companies of all industries and sizes.

Ransomware: cybersecurity attack on the rise

Ransomware, which is used by hacker groups to encrypt corporate networks, remains the main threat. In 2022 cases have increased significantly and so far, the groups behind these cybersecurity attacks have demanded ransoms, mainly used to expand their own criminal infrastructure.

In addition, IT security experts warn that the complexity of attacks has increased, and hacker groups are using increasingly sophisticated techniques to evade detection. It is therefore important that companies take steps to protect their systems against this type of threat.

What is the risk forecast for cybersecurity in 2023?

The number of cybersecurity attacks will increase due to technological advances. While a few years ago it was almost impossible for hackers to scan a large number of IP addresses in the blink of an eye and use these results for cybercrime purposes, automated tools are now available for this purpose. This results in new scaling options for attack volume and attack intensity.

In addition, the role of organized crime in attacks is growing. Some hacker groups generate millions, with significant management structures and operating internationally.

Why do cybercriminals continue to focus on ransomware?

Ransomware attacks are a lucrative source of revenue for hackers, who can generate them without much effort. Any company would be willing to pay large sums of money for the release of their encrypted systems and data. Anything to protect their business activities and reputation, although it should NEVER BE PAID as we would be financing cybercriminals, among other issues that INCIBE alerts us to.

The ransomware-as-a-service business model ensures lower barriers to entry into the hacker environment. This is possible through automation and professionalization. Criminals no longer have to program the malware themselves and keep it updated. They now receive a complete package of services through monthly subscriptions. In general, today’s young cybersecurity hackers need much less knowledge than in the past.

Many companies have adapted to the uncertain situation and have created ample opportunities to detect cybersecurity or cyber security attacks. This is certainly a step in the right direction. Companies should always keep their IT infrastructure up to date with the latest technology and be informed about new attack paths and threat scenarios.

Protecting yourself against ransomware and what to do if you suffer a ransomware cyberattack

It is necessary to keep up to date on existing cyberattacks and for this we recommend registering for the cyberalerts of the INCIBE.

Another measure would be to heed preventive recommendations from experts such as the No More Ransom Project.

If it is already too late, the Internet Security Office gives you some guidelines to follow in the event of a ransomware attack.

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