Everyone’s heard of cybersecurity threats in this day and age, but certain threats can prove even worse for business owners than personal users. This is because as technology advances, the tactics of cybercriminals do as well, which allows them to try and go after the precious data businesses deal with daily.
For business owners, the challenge is not just recognizing the threats but also understanding how to navigate the cyber minefield. Read on to learn about some common cybersecurity threats that businesses may face, as well as strategies to help fortify your business against them.
Phishing Scams
Phishing scams are quite common, but they are so prevalent because of how well they tend to work. A cybercriminal will craft a convincing message that makes it seem like they are a trusted vendor or other reliable source you have been doing business with to gain payment or login credentials. Phishing remains a prevalent threat for businesses because it targets such sensitive information.
To avoid phishing scams, take the following steps:
- Email Filtering and Authentication: Invest in advanced email filtering solutions that can identify and block phishing emails before they reach the inbox. Additionally, implement email authentication protocols such as DMARC (Domain-based Message Authentication, Reporting, and Conformance) to verify the authenticity of incoming emails and reduce the likelihood of email spoofing.
- Regular Security Awareness Training: Ongoing employee education is the first step in building strong cybersecurity for businesses, and dealing with phishing scams is included in this. Conduct regular security awareness training sessions to keep your staff informed about the latest phishing techniques, red flags to watch for, and best practices for identifying and reporting suspicious emails.
- Use of Email Security Technologies: Explore and deploy advanced email security technologies such as Domain-based Message Authentication (DMARC), DomainKeys Identified Mail (DKIM), and Sender Policy Framework (SPF). These technologies help verify the legitimacy of incoming emails and reduce the risk of email impersonation.
Malware
Malicious software, or malware, is a silent invader that can wreak havoc on business systems. From ransomware that encrypts files to spyware that steals sensitive information, malware takes various forms, often infiltrating systems undetected.
Keep all software and systems up-to-date to patch vulnerabilities that could be exploited by malware. Have firewall and antivirus solutions as well to help detect and block malware before it can do any harm.
Ransomware
Ransomware is the digital kidnapper of the business world. Once it infiltrates a system, it encrypts critical files and demands a ransom for their release. The financial and operational impact can be severe, making ransomware a significant concern for businesses.
To avoid ransomware attacks, do the following:
- Regular Data Backups: Regularly back up critical data and ensure that backup processes are automated and include all essential systems and files. Store backups in an isolated environment to prevent them from being compromised in the event of a ransomware attack. Test the backup restoration process periodically to ensure its effectiveness.
- Network Segmentation: Implement network segmentation to compartmentalize your network into isolated sections. This can limit the lateral movement of ransomware within your network, making it more challenging for attackers to compromise the entire infrastructure.
- Application Whitelisting: Use application whitelisting to allow only approved and authorized applications to run on your systems. This helps prevent the execution of unauthorized or malicious programs, including many types of ransomware.
Insider Threats
While external threats are concerning, businesses must not overlook the risks posed by insiders with malicious intent or unwittingly compromised accounts. Employees with access to sensitive information can inadvertently or deliberately cause significant harm.
To avoid inside threats, implement strict access controls. This makes certain that employees only have access to the information necessary for their roles. Regularly monitor user activities and conduct audits as well to detect and address any suspicious behavior promptly.
Distributed Denial of Service (DDoS) Attacks
DDoS attacks involve overwhelming a business’s online services with a flood of traffic, rendering them inaccessible. These attacks can disrupt operations, damage reputations, and result in financial losses.
Protect against DDoS attacks with the following:
- Traffic Filtering and Rate Limiting: Implement traffic filtering and rate limiting to identify and block suspicious traffic patterns associated with DDoS attacks. This can be done at the network perimeter or with the help of intrusion prevention systems (IPS) to filter out malicious traffic before it reaches critical infrastructure.
- Anycast DNS: Deploy Anycast DNS (Domain Name System) to distribute incoming DNS requests across multiple servers in different locations. This not only enhances the resilience of your DNS infrastructure but also helps distribute the load during a DDoS attack.
- Content Delivery Network (CDN): Leverage a Content Delivery Network to distribute content across multiple servers strategically placed in various geographic locations. CDNs can absorb and distribute traffic, reducing the impact of DDoS attacks on your primary servers.
Social Engineering
Social engineering preys on human psychology to gain unauthorized access or extract sensitive information. From pretexting to baiting, cybercriminals exploit trust and manipulate individuals into divulging confidential data.
Educate employees about social engineering tactics and the importance of verifying the identity of individuals requesting sensitive information. Establish clear policies on information sharing as well so that employees adhere to them and minimize the risk of accidental data leaks.
Weak Passwords
Weak or easily guessable passwords remain a common entry point for cybercriminals. Once compromised, they provide unauthorized access to critical systems and data.
Luckily, there are easy ways around this threat:
- Implement Multi-Factor Authentication (MFA): MFA adds an extra layer of security by requiring users to provide two or more verification factors before gaining access. This typically involves a password combined with an authentication code sent to a mobile device. Implementing MFA significantly enhances security and keeps businesses safe, even if passwords are compromised.
- Enforce Complex Password Policies: Define and enforce strong password policies that require a combination of uppercase and lowercase letters, numbers, and special characters. Avoid easily guessable patterns or commonly used words. Set minimum length requirements to create stronger passwords.
- Regularly Update Passwords: Encourage or mandate regular password updates. While it’s important not to overly burden users with constant changes, periodically updating passwords helps lessen the risk of compromised credentials.
As a business owner, investing in strong cybersecurity practices can fortify your digital fortress against cyber threats. Gain better cybersecurity for your business by partnering with the team at CMIT Solutions of Arlington. We’ll make sure you stay ahead of the curve and protect your business at the same time. Contact us to get started!