Cloud Computing: 5 Cybersecurity Threats Businesses Should Watch Out for in 2016

Grazed from Tech.co. Author: Dennis Hung.

From phishing attacks to new and creative malware to infected laptops, cyber-crime is globally growing at an alarming rate. These cyber criminals are not just targeting the blue chip companies and large corporations as the media reports. According to Symantec, 43 percent of cyber-attacks in 2015 targeted small-to-medium sized businesses with around 250 to 500 workers. Experts forecast a continuation of this trend in 2016 with the global cybercrime industry growing to $600 billion a year. The weak cyber security protocols of these businesses make them easy targets. They also offer access to larger corporations and the government who are their clients.

Malware

Malware lurks in the background stealing company data such as usernames and passwords. These malware is mostly installed by unsuspecting employees. According to Blue Coat, the average data breach can cost an organization 5.4 million dollars. In April 2016, MetStar, a non-profit organization running 10 hospitals in the Baltimore and Washington area was a victim of SAMSAM ransomware that encrypted sensitive data, requiring them to pay up the amount of 45 Bitcoins (approx. US$ 18,500) for the decryption key. Luckily, the IT department was able to detect the malware and prevent it from spreading further into their internal network…

Read more from the source @ https://tech.co/cybersecurity-threats-businesses-watch-2016-05