Ans :
In today’s day and age there is a host of new and evolving cyber security threats that has the
information security industry on high alert. There is an increasingly more sophisticated
cyber-attacks involving malware, phishing, cryptocurrency. Therefore, the data and assets of
the corporations, governments and individuals are at constant risk.
The information technology industry suffers from a severe shortage of cyber security
professionals and due to the ever-evolving new technology being introduced periodically,
there has been an exponential rise in cybercrime.
The following cyber security threats are constantly growing and creating issues related to
data privacy:
i) Phishing attacks- These are carefully targeted digital messages transmitted to fool
people into clicking on a link that can then install malware or expose sensitive data.
Nowadays everyone is aware of the risks of email phishing or of clicking on
suspicious-looking links, leading to hackers upping their ante by distributing fake
messages with the hope that the recipients will unwittingly compromise their
network system. Such attacks enable hackers to steal user logins, credit card
credentials and other types of personal financial information, as well as gain access
to private databases.
ii) Ransomware attacks- Hackers deploy technologies that enable them to literally
kidnap an individual or organization’s databases and hold all of the information for
ransom. These types of attacks are believed to cost victims billions of dollars every
year.
iii) Cyber-physical attacks- The technology that has enabled to modernize and
computerize critical infrastructure also brings risk. There is an ongoing threat of
hacks targeting electrical grids, transportation systems, etc., which represent a
major vulnerability.
iv) State-sponsored attacks- Hackers look to make profit through stealing individual
and corporate data. Now even nation states use cyber skills to infiltrate other
governments and perform attacks on critical infrastructure. Cyber crime today is a
major threat not only to the private sector and individuals but also towards the
governments and nations as a whole.
Many such attacks target government-run systems and infrastructure, but private
sector organizations are also at risk.
