Learn how to – 3 Cybersecurity Threats Your Business Needs to Watch Out For

Learn how to – 3 Cybersecurity Threats Your Business Needs to Watch Out For.

The COVID-19 pandemic taught us many things, and one of those was the importance of digitalization in today’s world. However, along with highlighting the flexibility of digital systems, the pandemic also demonstrated the weak security practices of households and businesses all around the globe, as shown by a whopping 150% increase in ransomware attacks. These only grew over the last two years, and 2022 has already seen a 13% increase as compared to 2021. In such times it is essential that you know the risks your business faces so that you can prepare to prevent them. Let’s discuss three major cybersecurity threats organizations are currently facing:

1. Phishing

Not purely digital, phishing is a security threat that combines social engineering with digital technologies to coerce an individual to share sensitive credentials, download a dangerous file, or click a malicious link. The senders often pretend to be business partners or employers and, in some cases, can steal executives’ email accounts to phish out sensitive information and payments from employees and partners. 

Threat actors have honed their social engineering techniques over the years, making the threat very challenging to combat. Spear phishing, where one organization is observed over an extended time period and targeted, has also increased in popularity. In such scenarios, appropriate social and digital defenses have become necessary.

You need to train your employees to spot signs of phishing, especially when emails, calls, or messages have unusual requests about credentials, personal information, or medical information, and show a sense of urgency. Ask them to double-check such odd requests by placing calls. Similarly, email security systems, antivirus programs, spam filters, and firewalls can protect you against many phishing emails. In case one manages to seep through the cracks in security, your employees should be ready to tackle it.

2. Malware 

Malware comprises software used to steal data or destroy your digital systems. Ransomware, spyware, and viruses are all such malicious software that can cost a business millions to fix. Your data can be held at ransom by hackers who demand money in return for letting your business operate normally, or your credentials can be stolen and actions monitored by spyware like keystroke logging. 

Malware can reach your systems through phishing emails or mysterious USBs or through any such device an employee connects to your digital infrastructure. Your antivirus systems may be able to block it, but the chances of infiltration are high if your systems are outdated and your security is unpatched.

Maintaining an online privacy environment is essential to stop malware in its tracks. This includes robust security practices and employee awareness. In case malware manages to get through, you need to hunt the faults in your procedures and adjust them likewise. Software targeting protection against malware exists in the market, and in this age, it has become crucial to invest in it so that your organization stays running for a long time.

3. IoT Device Negligence

IoT devices are proving to be detrimental to cybersecurity in homes and offices alike. They can allow a hacker access to your entire network. As the reliance of the world on automation increases, the risks of threats like IoT botnets, DNS vulnerabilities, and ransomware are also exacerbating. 

You need to adopt caution when including IoT devices in your network. Change the default password as soon as you get a device and store the device in a location that is only accessible to authorized users to prevent anyone from messing around with the circuits. Only invest in high-quality machines from known manufacturers and enquire about security features and updates. A remote work policy is also essential to ensure threat actors don’t leverage the devices in your employees’ homes to reach your network. Ask your employees to use a separate internet connection to log into the company website to ensure maximum security. 

Endnote 

You need to design a cybersecurity policy that encompasses office and remote work practices. Keep your systems up to date and train your employees about the best methods they need to adopt. Investing in the right technology is also crucial in these times; otherwise, your customer data and your business operations will remain at risk. By ensuring all stakeholders are aware of all risks and know how to tackle them, you can protect your organization for a long time.