The Internet is a powerful tool. It has revolutionized businesses in ways hardly ever imagined before. But along with significant milestones come serious cybersecurity threats that plague both private and government enterprises.
Today, there has never been a more heightened need to secure data and information from criminals. And one of the most unfortunate truths about cybersecurity threats is that the chance of catching the criminal is almost zero. Let’s take a look at some of the most common and prolific cyber threats recorded.
Social Engineering
The first on the list is social engineering. In 2020, at least a third of attacks used social engineering strategies. At least 90% of those attacks were phishing. Phishing is a form of cybercrime where people are coaxed into providing sensitive and crucial personal information. Usually, the attackers would use email and text messages and manipulate people into giving them their names, addresses, bank account numbers, and passwords.
Social engineering makes use of both software and human interaction. Behind the software and other tools used, a criminal lures people to give away sensitive information. In other words, there’s a psychological element to it.
When the COVID-19 pandemic hit, cybercrime shot up to a horrifying 600%. Many malicious attacks have robbed people of billions simply by posing as the Center for Disease Control and Prevention or World Health Organization. Criminals leverage network security vulnerability in infiltrating systems of businesses and companies worldwide. And most of these attacks come from China and Russia.
Ransomware
Another prevalent cybercrime is ransomware. Ransomware is a type of malware. Usually, it is used to hold sensitive information and data hostage. Victims are either threatened by exposure or complete elimination of access to their files.
At least 187 million ransomware attacks were reported in 2019, and more than 304 million ransomware attacks were recorded in 2020. Sadly, at least 50% of businesses in 2020 were attacked by ransomware. At least 73% of the attacks succeeded.
Ransomware is effective. Criminals launch at least 4000 attacks daily. 1 in every 3000 emails contains this malware. And unfortunately, victims have paid an average of at least $230,000. Across the world, ransomware recovery exceeds at least $20 million.
These are just two of the cyber crimes happening across continents, and no one is spared. The level of cybercrime threat has moved the Depart of Defense to evaluate its current policies, and the result of a lot of research and deliberations is the Cybersecurity Maturity Model Certification (CMMC)
CCMC and Its Purpose
Its purpose is to ensure that every organization doing business with the Department of Defense has set up a high standard of tools, strategies, and practices to protect sensitive data and information. Although tedious, being CMMC-certified has a lot of benefits.
For starters, it strengthens security for contractors and subcontractors alike. Learning about and applying various tools and strategies to combat cyberthreat is at the forefront of the Department’s priorities.
That’s why a company with a CMMC has more chances of winning contracts with the Department of Defense. They have an edge against non-CCMC certified organizations, not only because they are safer against cyber threats but because it’s one of the requirements for contractors and subcontractors.
Those that are CMMC-certified are also much better equipped to handle and prevent cyber threats. In the process, they are secure, have peace of mind, and save money because they prevent data breaches. Remember, when a company suffers from a data breach, it’s not only about financial loss; it will also damage its credibility.
In fact, according to research, at least 30% of the customers, clients, and partners avoid companies that have suffered from data breaches. Their main concern is security, and they don’t want to risk suffering from the same attack.
One of the worst parts about data breaches is that the company must shut its operations down for some time. They have to identify where the attack comes from and prevent further damage to the systems. In addition, they don’t want to lose or expose any more sensitive information.
Companies also stand to face legal consequences after a breach. Their customers, clients, and partners will demand that they take full responsibility for the violation. And so, companies have to endeavor that they have displayed and applied all tools and strategies to protect their systems.
The Department of Defense wants to avoid the dangers of cyber attacks by streamlining tools, strategies, and practices to strengthen security with every enterprise it does business with. That’s where CMMC comes in. Is your company ready for it?
It would be best to invest in security providers with CMMC-compliant services. It’sIt’s more convenient and cost-effective than hiring, training, and managing an in-house anti-cybercrime department. In addition, security services have access to talent, skills, experience, training, tools, and facilities that ordinary businesses do not.