Cyber threats are evolving all the time, as hackers change their method of attack depending on what security measures have been implemented. That is why it is important to stay on top of the changes and make sure your company is well-equipped to deal with the latest threats.

According to Cyber Security News, businesses need to be particularly aware of the risk of ransomware attacks. These have increased by a huge 518 per cent recently, causing losses of more than $20 billion (£15.94 billion).

Forcing companies to pay to regain access to their data, these can be disastrous for firms. The average amount they have to pay to retrieve their documents is as much as $570,000, while many others have never been able to get control of their data again, despite paying the hefty fees.

The only way to protect against this huge financial loss is to make sure the business has good-quality cybersecurity solutions. It is also wise to have regular data backups, and make sure employees are kept up to date with their training.

“By taking these precautions, businesses can minimise the risk of an attack and limit the blast radius if one does occur,” it stated.

As ransom payments continue to increase, the cost of cyber insurance is set to rise as well. While fewer companies used to invest in protection for cyber-attacks, more than two-thirds have bought insurance to protect themselves.

“It is expected that premiums will continue to rise as insurers adjust their rates to reflect the true cost of cyber risks,” the publication asserted. While this will mean fewer businesses will be able to afford insurance, those that can, will be better protected against cyber threats.

Businesses have also been urged to take extra precautions now the pandemic forced them to implement flexible arrangements, particularly working from home.

During the peak of the coronavirus crisis in April 2020, nearly half (46.6 per cent) of Brits worked at home. This increased to 57.2 per cent for those living in the capital at the time, due to the nature of their jobs, with those employers requiring higher qualifications more likely to offer homeworking flexibility.

Although the work-from-home instruction came to an end at the back end of 2021, many organisations have since adopted a hybrid model, allowing their employees to carry on remote working as well as come into the office.

Consequently, Cyber Security News advises: “Businesses will need to be agile in order to keep up with the dynamic work-from-home landscape and protect their data from potential cyber threats.”

A development that could protect businesses against cyber-attacks this year is artificial intelligence (AI).

According to TEISS, the technology is “helping security teams to stay one step ahead of persistent and ever-present cyber criminals”.

As this technology continues to advance, companies might find they can protect themselves better in the future.

Whether you are looking for help with your cyber security or want a digital marketing agency in Hull to improve your online publicity, get in touch with us today.