There has been a surge in cyberattacks ever since the pandemic started playing havoc across the world. When the Covid-19 crisis reached its peak in Italy, the country bore the additional brunt of an attack of another kind. A recent study revealed shocking facts that Italy had a sharp spike in phishing attacks by up to 40%. ESET, the Internet security company, says it took them seven hours to detect nearly 2,500 infections from spam emails centered on Covid-19 themes.
These attacks reveal one important aspect: Organizations operating without proper digital protection are highly vulnerable to cyber threats. With a sizable working population resorting to remote working, the threat is multifold. As you read this article, millions of Americans are making video conference calls, uploading sensitive documents, and discussing secret business strategies. This setting is just what cybercriminals want- a whole new target audience sharing valuable data that can be intercepted over the internet.
Cybersecurity And Its Significance In Today’s Businesses
In general, cybersecurity is the practice of protecting your organization’s entire digital system from malicious attacks. A cyberattack can have devastating implications for your business. It is perpetrated by an individual or a group of cybercriminals with the intent to gain unauthorized access to an organization’s network. A well-planned cyber-attack can bring down the very network and automated systems on which your company thrives.
Cybercriminals devise one ominous scheme after another, such as identity theft, extortion, ransomware, and loss of valuable personal data. Some of the cybercrime statistics are staggering. They are red flags that prove that cybercriminals are targeting the remote workforce in America.
Impact of cybersecurity threats: Statistics that shouldn’t be ignored
Let’s put these stats under the microscope:
- Verizon’s 2020 Data Breach Investigations Report states that 43% of cyber-attacks are targeted at smaller businesses.
- 83% of digital breaches involved the human element.
- 10% involved ransomware, which is double last year’s number.
- 36% comprised phishing, which is 11% more than last year.
- In 2020, there were 137.7 million new malware samples. We are now halfway through 2021, and the number has already reached 92.45 million AV-tested samples.
Cybercrime is causing a massive dent in financial losses that stretched to the tune of $1 trillion for the year 2020. In 2018, experts had projected the loss due to cybercrime at $500 billion. However, the latest report from McAfee projects the losses at $945 billion, which is almost double the former number.
Is there a bigger cybersecurity risk with remote working?
Cybersecurity is the top priority for most American companies, who are well aware that an advanced cyberdefense program can make a world of difference. That’s precisely why most office environments are digitally secured with communication infrastructure and intranets. But now that remote working is the norm, home interactions are thriving on internet connectivity that could be susceptible to malicious threats.
The threat is more pronounced for smaller businesses dependent on an obscure security framework. Besides, many small business owners live by the misconception that their business is too small to be targeted by cybercriminals. Unfortunately, that isn’t the case. Any business without ample cybersecurity stands the risk of malicious attacks.
Common Cyberattacks That Threaten Remote Workplaces
Remote working exposes your business to four types of cyberattacks.
1. Social engineering attacks
Hackers can execute a social engineering attack without the use of malware. It is a nefarious tactic used to trick you into gaining access to sensitive information or extorting money. Most often, cyber criminals use a combination of threats disguised as emails with malicious links. When you click on the link, you automatically download malware that corrupts your system.
2. Phishing attacks
Phishing attacks are spurious emails laced with malicious content. After remote working became the norm, hackers are creating emails that look as if they are sent from a reliable source. Most emails cash in on the uncertainty surrounding the pandemic. Phishing attacks commonly result in the loss of important information like credit card numbers and login credentials. Often, you may end up installing malware content on your device when you open these emails.
3. Malware attacks
The term malware refers to software that can gain unauthorized access to your computer to steal or destroy crucial company data. Malware typically comes from malicious websites, spam emails, or connections with other infected machines. These attacks are particularly damaging for small businesses because they cripple devices and require costly repairs or replacements to fix.
Businesses are more likely to hire staff who work from home since they save time and money. It does, however, increase the risk of malware attacks since personal devices are more prone to malicious downloads.
4. Ransomware
Ransomware is one of the latest tactics used by cybercriminals to extort money. Hackers have found unscrupulously deceptive ways to encrypt and withhold an organization’s data. They force the organization to pay large sums of money to release the data. Attackers target smaller businesses whose data is not backed up for easy retrieval.
Cybersecurity Tips For Businesses Relying On Remote Working
An Inc.com report reveals that out of every ten SMBs, at least six of them go out of business due to cyberattacks. When more than half your staff are remote workers, you ought to be extra vigilant to protect your business and hard-earned money.
Here are some effective cybersecurity solutions to make your organization a well-guarded fortress.
- Train your remote workers
Your remote workers are now the main target of cybercriminals. Hence, they must be trained to increase their awareness of cyberattacks and identify phishing attempts. Train them to use two-factor authentication and secure their devices with reliable software and security patches.
- Create strong passwords
Strengthen your passwords using numbers, title cases, and signs. Do not create passwords that are easy to guess. Furthermore, you can encourage your employees to change their passwords regularly and avoid sharing password-related information via messages.
- Avoid phishing emails
Never click on suspicious emails. Phishing defense starts with employee awareness. Emails, instant messages, and text messages are the most common sources of phishing attacks.
- Use multifactor authentication
A hacker’s easiest access points are remote entry points, VPN access portals, and remote desktops. To thwart such threats, multifactor authentication or certificate-based authentication may be the best solutions.
Take Charge With Reliable Cybersecurity Solutions
There is no doubt that remote working is here to stay. As the reliance on digital technologies is on the rise, organizations get more exposed to cyber-attacks. This is why organizations ought to upgrade their cybersecurity measures and rely on enhanced security strategies.
CMIT offers proactive cybersecurity solutions with a super-strong cybersecurity defense system. We provide excellent IT services for businesses in Tempe and Chandler. Let’s discuss how we can safeguard your organization from cybercrimes.
