2021 Reveals New Cybersecurity Challenges for Business Owners

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The continued advancement of technology among businesses provides endless benefits, from increasing productivity to performing basic job functions with more accuracy and efficiency. But as technology continues to evolve, it’s simultaneously becoming a prime target for cyber criminals to carry out their attacks.

This is especially true for businesses across all industries as they work to adapt to the changes brought on by COVID-19. 2021 has revealed an uptick in cybercriminals attempting to take advantage of the rapid shifts happening in technology and across entire business structures—data shows that shifting to a remote workforce has increased the cost of a data breach by $137,000.

The average cyber breach costs companies $3.86 million, and takes 280 days to identify and contain on average. Unfortunately, many companies are still falling short when it comes to their cybersecurity efforts—62% of organizations say they don’t take the necessary steps in properly securing mobile data.

As we continue into 2021 and beyond, cybersecurity threats will only continue to grow. Threat actors and hackers are growing increasingly sophisticated in how they plan and execute their attacks, and organizations will need to take a proactive approach to their security infrastructures if they want to mitigate the risk of a data breach and keep their assets secure.

Approaching organizational security strategies with more urgency will reduce overall risk and lessen the vulnerabilities available to hackers to exploit. Organizational leaders must seek out new ways to properly secure their data in order to create the best defense possible against the increasingly prevalent cyberattacks we’re seeing today. For a list of the top cybersecurity trends that pose the most threat to businesses in 2021, plus a list of critical action items to consider in response to them, check out this visual by Panda Security for data-backed tips every business owner should know.