In this rapidly evolving landscape, where changes and advancements are bringing people together and the latest iPhones are the vibe, however, in its midst, network security threat concerns are also valid. A host of new and improved cyber threats emerge daily with even more sophisticated cyber-attacks, including phishing and malware. 

A recent study conducted by Cybersecurity Ventures shows that covering cybercrime damages will cost about $10.5 Trillion annually by the end of 2024.  

What is a Network Security Threat?

Essentially, network security threats are flaws or weak spots in a network design, development, operation or implementation that can allow unauthorized access to your devices or cause harm to your systems. 

In 2024, cyberattacks are the most significantly growing threat for businesses today. Most cybercriminals don’t discriminate between businesses, but if you have a larger and more successful business, then you definitely are more at risk. 

Types of Common Network Security Threats

Some of the Top network security threats that organizations are facing today that you need to be aware of are:

Social Engineering

One of the most dangerous types of breaching is social engineering which utilizes the vulnerabilities of humans instead of tech. This makes it all the more dangerous as most infiltrations start with human interactions at the email level.

There are different types of social engineering as well:

Phishing

As mentioned before, hackers interact with people through phishing attacks i.e. emails, social media, or text, masquerading as reliable sources and ask them for sensitive information like social security numbers, bank account details, or passwords. 

Spoofing

Like phishing, hackers pretend as someone, but instead of people, here they imitate entire websites to mislead people. For example, they change only a letter on the web address and design a landing page similar to the original website, successfully deceiving people in the process. 

Whaling

This kind of phishing is targeted at high officials and executives who possess the company’s most sensitive information. The hackers usually imitate close peers to target them exclusively. 

Third-Party Exposure

One of the rising hacking attacks is third-party breaches. As the third parties are not as well-protected as the large corporations they work with, the attackers tend to target them more to get privileged access to their selected organization. 

In 2023, 29% of all data thefts occurred due to third-party exposure attacks. This resulted in the leakage of confidential information for many companies and customers. 

Mistakes at the Configuration Level

Installing security systems is quite complicated. Even professionally installed systems can give way to one or more errors, leaving the entire system exposed to hackers. This is a major vulnerability as it essentially invites cybercriminals in to steal any information they require. 

A configuration issue can be as little as a weak password or as large as installing improper firewalls that will leave the door open for cybercriminals and cause security threats in computer networks.

AI Cyber Threats

Just like how AI has made life easier for software developers, it has also made it quite easy to live for cyber-criminals. Using machine learning methods, these criminals analyze and infiltrate security systems in minutes and leave you vulnerable.

Additionally, they also make attacks automated and frequent, which renders you useless as fixing it takes time and frequent attacks don’t allow any fixtures. 

Best Practices for Network Security in 2024

As a large corporation, your security and software must remain updated at all times. It is necessary that you conduct regular software updates, configure robust firewalls, and implement employee cybersecurity training that will allow you to mitigate any and every network security threats and vulnerabilities. Some of the methods are:

Advanced Tools and Technologies

In order to implement robust security methods, you need to ensure that your company has Advanced Threat Protection (ATP) systems and Intrusion Detection and Prevention Systems (IDPS) installed as they are vital tools for identifying and mitigating urgent threats.

Incorporating A Proactive Approach to Network Security

A proactive approach requires regular security audits and continuous monitoring. You also need to decide and implement a comprehensive response plan that will save you from any future security threats. 

Protect Your Precious Cargo at the Starting Line With Amsat

With a strong approach and an even stronger security team protecting your sensitive information from breaches, you can rest assured that your data is in safe hands. 

A managed security service provider (MSSP) offers significant advantages for many businesses. In fact, hiring one can mean you no longer have to worry about risks that an organization is ill-equipped to handle for various reasons, including a shortage of resources or expertise. Seeking a professional provider enables employees to focus on their own key tasks, without taking on the additional responsibility of ensuring security. The following blog post serves as a comprehensive guide to help you identify the key attributes of a top-notch MSSP.

Reputation

Your company’s reputation is pivotal to your business’s success; therefore, it should not be underestimated. It is imperative to ensure that the team entrusted with safeguarding your assets is proficient in their duties and capable of delivering exceptional results.

Asking important questions will help: determine how long a possible provider has been active in the industry and look at feedback they’ve received from other customers. A provider’s status will give you a good idea of their capabilities, and by doing a little bit of research, you can ensure that they’ll be able to deal with your security challenges.

A sound understanding of your business

A good provider should always have a sound understanding of your business and the rules and regulations that must be followed within it. It is important for them to take these guidelines seriously and ensure that key data is secured, allowing your business to continue to protect its customers. Make sure that any potential provider is committed to complying with your business’s specific requirements.

Service level

It’s important to find a provider that offers high quality service. While this may sound too good to be true, MSSPs differ in the service level they provide, and not all will fit your company’s needs. Some providers offer a full incident response system, while others focus exclusively on supervising for intrusions. Some will have knowledge in specific fields of security, which may or may not be valuable to you, depending on what you’re looking for.

Customer support

Customer support is the key element of a quality managed security services provider. In addition to the much-needed support, the level of help provided should also be of the highest quality. After all, you want a provider to explain several procedures and respond to a number of questions. If you’re not getting adequate support from an MSSP, it’s better to look for other alternatives.

Security measures

A competent security provider will always be watchful about new threats, keeping their defense methods up-to-date as security threats change and new technologies evolve. It’s essential that you seek out a quality security provider who is always ahead of the curve, positively impacting your business.

Conclusion

Staying protected is key to the survival of any business, so ensure to conduct thorough research when hiring a new MSSP. No one can take the security of their company for granted; consequently, relying on mediocre MSSPs to save a few hundred bucks will do more harm than good, ultimately contributing to their business’s decline.