Cyber risks are threats for your business that could lead to unauthorized access to systems and data. This could result in data breaches, ransom demand destruction of property, and financial losses.
Cyberattacks are typically phishing, malware, and social engineering. Malware attacks are constantly evolving as attackers come up with ways to circumvent or get around security systems. This requires a constant game of cat and mouse between cybersecurity teams and attackers. When cybersecurity analysts detect an attack, it could be too late to stop it from affecting the business.
Cyberattacks may also involve advanced persistent threats, which are slow and stealthy. They target specific targets in order to steal sensitive information. DDoS attacks flood systems with Internet traffic to disrupt operations. They also act as a cover for more intruder attacks. Ransomware attacks use encryption to encrypt data and demand payment to decrypt. And supply chain attacks harm software or hardware before they reach the customer and rely on the trust of third parties.
Also, you should consider the threat posed by people within your organization who have access to data and systems. This includes angry employees and malicious contractors. They may have a grudge or an incentive to hurt the company, and are often difficult to detect. Another threat is misconfigurations or weaknesses in your IT environment that attackers can take advantage of. This includes not updating software on your computer and failing to implement the concept of segmentation to separate different types of data.