What are the biggest cybersecurity threats this year?

As UK Cyber Week kicks off, the relevance of cyber threats is much more prominent as many organisations face an ongoing battle to fight off the dangers which cybercriminals pose.

The threat has gotten so severe, UK businesses are required to keep their data secure otherwise they risk being penalised with possible fines from the Information Commissioners Office. This is in the wake of attacks from China, with the country's government believed to be orchestrating cyberattacks.

Cyberattacks have been a massive concern across various trades in the UK with the healthcare industry at its most vulnerable ever to cyber threats. This is due to being understaffed, leading to compromised accounts, revenue losses plus data being reported stolen.

The retail industry has also been hit with serious cyberattacks as WH Smith was victim to one last month, which means it is the second cyber-attack in a year for the leading UK retailer. The company was on the end of an online data breach, which exposed personal information.

With that in mind, the content delivery network service, Edgio, has revealed what businesses must be wary of this year when it comes to remaining vigilant against cyber threats.

The most prominent threats currently to organisations are zero-day attacks as well as Internet of Things (IoT) devices. This can be limited and fought through the use of edge computing.

Zero-day attacks occur when hackers will identify a vulnerability within infrastructure and then target organisations by exploiting it. These sorts of cyberattacks are large in scale and threat, with them being difficult to detect at first.

The damage the zero-day attacks can cause includes damage to revenue and brand reputation. These attacks have been steadily increasing as according to a report by Mandiant Threat Intelligence, 40 per cent of zero-day attacks in the last decade occurred just in 2021 alone.

Edgio believes to have solutions to these attacks, it is necessary to invest in a distributed edge network as well as a Web Application Firewall (WAF) solution. Doing this can easily protect the entire network plus allow the new mitigation techniques to be tested out.

Also, any company that used artificial intelligence and machine learning as solutions to detect threats, were able to close down breaches in 74 days less. It also saved them on average, $3 million more than those that did not.

In relation to IoT, as more internet-centred devices will enter the market naturally, more pathways will open up to hackers. This is because there are over 43 billion IoT devices, which means there are multiple attack vectors to be exploited across the globe.

Due to the risks associated with IoT devices, some states are set to bring forward stronger measures so that users can understand the dangers which come specifically with IoT devices. The Product Security and Telecommunications Infrastructure Bill is already being considered by the government.

Ajay Kapur, Chief Technology Officer at Edgio, has spoken on how edge computing can aid companies. He said: "Edge computing is still in its infancy and many decision-makers are unaware that by moving workflows to the edge, organisations will achieve better performance, reduced latency, lower costs and greater scalability and reliability."

Kapur added: "The future of digital experiences is at the edge. The use of this technology protects critical infrastructure and resists the growing threats from zero-day attacks and IoT hacking."

It can become difficult to truly understand and comprehend the landscape of cyber threats, especially whilst innovation evolves, and companies form their IoT infrastructure. A solution is to move security to the edge of the network as that can help with filtering sensitive data locally and in doing so only send vital IoT data to the cloud.

Cyberthreats are only going to become a larger threat and whether it comes from zero-day attacks or through IoT devices, organisations must prioritise security. It will be vital to detect threats when they arrive and deal with them correctly.