February 26, 2024. | Cybersecurity, Data security, News

Why the hackers’ next target is you, and what to do about it

Cybersecurity doesn’t sit still. It’s always changing, learning, and evolving. You know that – we all know that – but awareness isn’t enough. Vigilance is key, sure, but having a handle on what might be about to happen next in cyber threat terms is nothing short of crucial. 

And in that vein, as experts in this field, we’re here to give you the latest developments and points of interest to be aware of. Let’s dive into what’s new right now: 

Size – and cost – does matter

Big companies are all too aware of the ever-present, ever-sophisticated cyber threat landscape – which is why they now spend vast amounts of money on remaining secure and resilient. In fact, in 2022, enterprises spent an average of 9.9% of their IT budgets on cybersecurity. 

Tech, healthcare and business services, including insurance, led all industries in cybersecurity investment, while education, retail and manufacturing sectors lagged behind on cybersecurity spend. 

 …But not everyone has the capital and/or resources to spend anywhere near that much, which leaves smaller entities inevitably more vulnerable to attack – with just as much to lose, relatively speaking. 

In parallel to this, where isolated actors with small budgets and access to minimal technology didn’t use to be a huge threat (except when catching out the odd person/company by chance), technology is now significantly cheaper. This means people in every country in the world can get their hands on it, and use it against your company. After all, why would they go after the small fish in developing countries, when they can now just as easily access everything you do? …It’s an obvious target.

But that’s not all. The cost of the tech resources and knowledge access needed to deploy advanced hacking techniques (and mount the subsequent attacks) is getting progressively lower too. 

And when you put all that together you’ve got yourself something of a perfect storm. A cybersecurity threat storm …which is every bit as enjoyable as it sounds. 

What to do about it

The only way to combat this – regardless of the size of your company or your security budget – is to get more sophisticated with your cybersecurity and be a less attractive target than your neighbor. Or to put it another way, your wall needs to be higher. 

But this doesn’t have to cost the Earth. Trust us – it’s all about investing in the right risk management products for your business needs. 

Which is something we can help you with. Penta risk management products can do all this – at an affordable price. If you have any questions about any of this or would like to hear more about how we can help, get in touch. We’re always happy to help. 

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