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.