Learning as much as you can about the top cyber-threats can help you know how to keep your business safe. Cybercriminals work tirelessly to identify the weak spots in your business data. While you may think large corporations tend to be the biggest targets for cyber-attacks, small businesses are also at risk.
In fact, Alejandro Mayorkas, U.S. Secretary of Homeland Security, said between 50 and 70 percent of ransomware attacks are against small and medium-sized companies. Being a smaller business doesn’t make you less attractive to criminals. In some cases, it can make you more appealing because they know you likely won’t have the necessary cybersecurity in place.
The first step to protecting your business is identifying the risk. The next step is partnering with the experts to develop a comprehensive cybersecurity strategy to manage the risk proactively.
Here are the top 5 cyber threats facing businesses of all sizes and in all industries:
#1: Ransomware
A form of malicious software (malware), Ransomware use has been on the rise in recent years. It works by encrypting or scrambling data so the business cannot access or use it. Then, the cybercriminal demands that the business pays a “ransom” to get an unlock code. Ransomware puts the business in a tough position—either pay the ransom or suffer the consequences of losing critical data.
Small businesses are particularly susceptible to this form of cyber threat. Attackers know small businesses tend to have vulnerable data and cannot afford any downtime. This means a small business may be more likely to pay the ransom right away.
#2: Phishing
Phishing attacks are among the most destructive and widespread cyber threats facing small businesses. They typically come to business owners or employees via email or text, asking the user to click a link or enter a password or account information. Phishing links can look real and often use logos and email addresses to trick users. Due to the COVID-19 pandemic, there has been a drastic increase in sophisticated phishing schemes. Attackers often pose as representatives from the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), or even CEOs.
#3: Malware
Malware attacks encompass a variety of cyber threats, including viruses and trojans. Hackers create malicious code to access networks and steal or destroy company data. The malicious software typically comes from spam emails, website downloads, or connections to other devices infected with malware. Malware can disable devices and give access to crucial data that can put employees and customers at risk.
#4: Password Hacks
When employees use weak passwords, it is easier for attackers to access sensitive company data, including financial information. Many people use the same password across numerous platforms and accounts, which increases the risk of password hacking and data exposure. Businesses can protect against this issue by implementing multi-factor authentication.
#5: Threats from Inside the Organization
It’s an issue that business owners and managers do not like to consider, but insider threats often put an organization at risk. Current or former employees, business associates, and contractors may be able to access critical company data, leaving a company vulnerable to security breaches. When data is in the wrong hands, the consequences can lead to financial damage or put customer data at risk.
Let Us Protect Your Business from Cybercriminals
Are you ready to take steps today to protect your business from these common cyber threats? Then, reach out to the experts at CMIT Solutions to learn how we ensure ironclad cybersecurity for your business.
