Cybercrime is a multibillion-dollar industry. These instances are becoming increasingly common, with over half of small firms experiencing a security breach last year. A large security breach costs a firm an average of $200,000, bankrupting and ruining many of them. In a nutshell, practically everything of value that your organization possesses. Not to mention everything else that every business and individual that has sensitive information stored on your systems possesses.
Everyone associated with your company’s livelihood is in your hands. The task of protecting against cybersecurity risks falls squarely on the shoulders of business owners. Let us take a deeper look at what is at risk before we get into how cybercrime is most likely to target your organization and how to avoid it.
Financial Details: A hacker’s apparent objective is your liquid assets, or financial accounts where you keep your money.
Secrets of the Trade: The ins and outs of your company’s operations may be even more useful.
Personnel and Customer or Client Information: If your organization keeps proper records, your servers will hold the personal and financial information of every employee, as well as payments made and received from clients and customers with whom you do business.
Sabotage and unauthorized takeovers: A corporation’s biggest asset is frequently the firm itself. A hacker might use the information they acquire to harm a firm, leverage a hostile takeover, or just destroy the competition.
Here are some of the most common cyber threats to look out for:
1. Insecure Passwords
The first move in a hacker’s playbook is to knock on the network’s front door. They are ready to proceed if they have or can correctly guess the password of an account with the necessary network access. Cybercriminals have various ways for breaking your passwords, the most prevalent of which is the password dictionary attack. A dictionary attack tries to get on to the system using every username and password stored in the system’s database (dictionary). If anybody on your network uses a common password, a popular hack tool might quickly identify it. The best passwords are generated at random and updated frequently.
2. Phishing Attacks
In both language and practice, phishing is synonymous with fishing. Phishing exploits human vulnerabilities through deceit and social engineering. In order to trick the victim into passing over passwords and other sensitive data, the hacker disguises himself as a reputable person or corporation. Emails providing links to cloned sites that appear just like your account’s login page are frequently used to mine the data required by the hacker to obtain access. A successful attack can even lock you out of your own accounts, allowing the hackers to do anything they want with them.
3. Malware Infections
Malware is a catch-all phrase for any program with malevolent purpose. Some malware is so well-coded and well-hidden on your network that it may behave like a parasite, draining your accounts without your knowledge for years. There are several varieties of malware, each designed to do something bad.
Spyware refers to programs that collect and communicate information about your internet activity to a hacker. Spyware is frequently capable of relaying this info to the hacker over your own internet connection.
Viruses and worms
As evil as they seem, these programs are designed to replicate themselves and introduce harmful code into other programs on other network computers.
Ransomware is a form of Malware that warrants its own section. These programs vary from a small annoyance to a virtually indestructible, unbeatable, and traceable extortion scheme. Most ransomware is installed by the user unknowingly installing a file they believed was an update or another innocent software. The software then infiltrates your network and entirely locks you off. In extreme circumstances, ransomware may encrypt all of your data and threaten to release or destroy it if the ransom is not paid. The ransom is paid in bitcoin, making it harder to track the transaction.
5. Insider Threats
Your own people are statistically your greatest threat. In a locked room, having a key to the door is the most convenient method. The most common cause of commercial data breaches is privilege misuse. Many employees have succumbed to the allure of cybercrime and the promise of a large payoff. Limit access to sensitive data to as few persons as practicable whenever possible. Create human resource and security access plans to reduce the risk of an inside assault on your company.
Cyber-attacks are widespread in business, but your company does not have to be a victim. Take immediate action to protect yourself and your company against cybersecurity attacks. We are available to answer any questions you may have and to assist you with your cybersecurity requirements. Contact us or make a call immediately to give your network drives peace of mind.