When it comes to protecting your business, one of the greatest dangers stems from cyber threats, which is why it’s so important to make sure your IT security evolves as fast as the malware does.

If you’re wondering about the ROI for IT security, consider these facts from the Ponemon Institute:

• In 2017, 54 percent of businesses were compromised.
• Seven out of 10 organizations said their endpoint security risk increased significantly over the past year.

• A successful attack costs an organization on average $301 per employee — which translates to more than $5 million for a large organization.

With that in mind, here are three top cybersecurity trends, how they can impact your business and what to do about them. The right IT tech support from a managed service provider can help you understand how to implement security practices that can minimize the impact on your company.

1. “Fileless” Malware Increasing

A trend that began in 2017 and is expected to continue is the shift to what’s known as “fileless” techniques in the way attacks are carried out. This type of malware can exploit vulnerabilities in a system or application without writing files to the local hard drive, making it difficult to detect.

Ponemon research found that 77 percent of attacks that successfully compromised organizations in 2017 used these “fileless” techniques. That amounts to a major change, which poses a severe problem for traditional security solutions such as antivirus protection, because they rely heavily on analyzing executable files in order to make detections — a process bypassed by the “fileless” approach.

2. Ransomware Declining

In early 2017, more than half of companies reported they’d experienced one or more ransomware attacks. Two-thirds of those companies acknowledged paying a ransom that average $3,675, according to the Ponemon survey.

As the year went on, all of that changed as the number of ransomware attacks dropped dramatically. But that doesn’t mean ransomware no longer poses a threat; it does. Just ask the city of Atlanta, among others, who’ve been hit in 2018 by a notoriously effective strain of ransomware called SamSam.

3. Cryptomining Malware Becoming Popular

Meanwhile, a new form of cyber attack is on the rise. Malicious cryptomining — or “cryptojacking” — has been increasing in use throughout 2018. According to ZDNet, the idea is simple: “Unwitting victims have their computer or smartphone infected with malware, which uses the CPU power of the device to mine currency, with the profits being directed back into the wallet of the attacker.

Cryptominers have impacted 55 percent of organizations globally — from a Tennessee hospital to the car manufacturer Tesla to Google Play apps. The scheme works to funnel funds, in the form of cryptocurrency, directly into the wallets of attackers without the need to interact with the victims.

Adapt Your IT Security

These trends have wide-ranging impacts for businesses of every size. In 2017, four out of five companies replaced or updated their anti-virus protection, according to the Ponemon research.

In 2018, such measures will become even more important as the types of cyber attacks continue to evolve. That’s why you need to be sure your business is equipped to respond quickly to these infections as they grow increasingly more stealthy and evasive. One of the best ways to ensure your IT environment is safe and secure is to prevent such attacks in the first place by relying on a managed services provider who can keep you up-to-date with the latest technology.

Conduct Business With Confidence

These trends in cyber security underscore why it’s essential to protect against ever-changing malware. Individuals and businesses need to guard against the evolving cyber threats in their email, their cloud services and their information systems.

With hackers constantly updating their skills, it’s imperative for businesses to update their security protocols to protect their critical data. Our expert engineers can design safeguards that are an integral part of your network infrastructure, software and management right from the start.

Since 1995, Manassas Park, VA-based V2 Systems has employed local systems administrators, network engineers, security consultants, help desk technicians and partnering companies to meet a wide range of clients’ IT needs, from research, to implementation, to maintenance. Concentrate on your VISION…We’ll handle the TECHNOLOGY!