Cyber Security Threat Examples Facing Businesses of All Sizes
Have you ever taken some time to look at some recent cyber security statistics? I bet the answer is no.
Interestingly, you might have been thinking
that this is something reserved for big companies only. But hey; you've got to
think again. Different types of cyber security threats make the survival and
long-term profitability of many businesses harder than ever.
Unknown to many business owners like you, the
cost of preventing cyber security attacks is usually lower than dealing with
consequential losses. But then, you don't have to wait until it happens before
taking some actions to protect your means of livelihood.
Knowing that cyber security issues do affect
businesses of all sizes is one thing. Protecting your business is an entirely
different challenge.
The very first step is to raise your cyber
security awareness. And that's what this post is all about.
Types of Cyber Security Threats To
Businesses
The types of cyber
security threats that undermine profitable business
operations can be very diverse. However, increased awareness of the most common
ones will help you put your business on the safest path. Perhaps, the key point
worth noting here is that you need a proactive, not reactive strategy.
#1: Malware Intrusion
What is malware intrusion?
First things first; malware is a type of
malicious software that executes unauthorized actions on a computer or network
system. Most times, the purpose is to alter the normal operations of a computer
system and break security protocols, thereby intruding.
In some cases, malware attacks go beyond simple
alterations and shut down computer network systems. While the systems are down,
the malware gains unauthorized access to sensitive information like credit card
details, banking data, company passwords, and personnel data.
How malware attacks happen is that criminals
take some actions to spread them into vulnerable computer systems or
networks.
Sometimes, it requires the action of a target
victim to execute its destructive commands. Such actions may include clicking
an infected active hyperlink, downloading a file from an unknown source, or
failing to take security precautions after gaining access to a computer
system.
Common types of malware include the
following.
- Keyloggers
- Malicious Adware
- RootKits
- Worms
- Spyware
- Trojans
#2: Phishing Attacks
Phishing is a type of cyberattack meant
specifically for stealing sensitive information. Can businesses like your own
become victims of phishing attacks? The answer is an absolute yes.
How phishing attacks happen is that attackers
disguise as authorized or trusted entities and then trick the victim into
taking specific actions. When such actions are taken, the malware will be
installed to execute some phishing commands.
When phishing attacks happen on a computer
system used by a business, they may result in things like unauthorized
purchases, identity theft, and illegal transfer of funds.
Depending on the scope of an attack, some other
outcomes may include significant damage to brand reputation and consumer trust.
As noted earlier, it is important to reiterate that these things can happen to
big and small businesses.
#3: Ransomware
Another common cyber security threat to
businesses is ransomware. It is a type of malicious software created to block
access to high-value and sensitive computer systems while demanding a specified
sum of money as ransom.
When this happens, the victim will be
instructed through the same software to make the payment for regaining access.
Unfortunately, when a data backup is not available or the same is locked, your
business is likely to suffer severe damage.
To prevent things like this from happening,
Computronix provides full-scale ransomware protection for businesses of all
sizes. In addition to that, we can help with cloud-to-cloud backup in a secure
environment.
According to McAfee, some of the reasons why
ransomware is spreading include the following.
- Use of new techniques such as
complete disk encryption
- The growing availability of malware
kits
#4: Mobile Device
Vulnerabilities
In a post-COVID world, more businesses are
likely to start leveraging remote workers to compete favourably in their
respective markets. That also means that the convergence between mobile devices
and cloud networks will become more prevalent.
On a much larger scale, more employee
communication activities are likely to be mobile device-centric.
Assuming your employees engage in sensitive
business communication on mobile devices, this could be a source of real
vulnerability. When a mobile device is lost or stolen, business communication
and other sensitive data might be at risk.
Besides, mobile apps, operating systems, or
hardware failures can turn some of these devices into a source of costly
cyberattacks. Without proper security measures, your business might be
vulnerable even as you are reading this post right now. Using our managed spam
filter system, we can help to keep your business and employees' mobile
communications to be protected at all times.
Some other factors that may result in increased
mobile device vulnerabilities are -
- Mobile connection to the internet
of things (IoT)
- Poor password management
habits
- Unsecured public Wi-fi
- End to end encryption gaps
- Outdated operating systems and
mobile apps
#5: Poorly Secured Cloud Networks
An average business owner has limited knowledge
of cloud security network systems and protocols. While cloud migration promises
a lot of business benefits, poorly secured cloud network systems are proven
grounds for cyber security attacks.
Even when the big platforms promise a
high-grade cloud security guarantee, the way your migration is handled can be a
source of vulnerability.
To some extent, some of the business operation
and communication systems you are using are probably dependent on other cloud
technology platforms. Based on this fact, it is important to plan your cloud
network dependencies with the highest level of security.
Final thoughts
These are some, not all the cyber security
issues that may threaten the long-term survival and profitability of businesses
like your own. By reading this post, you've taken the right step towards
increasing your cyber security awareness. And that's how maximum security often
starts.
However, awareness is one thing. Prevention is
an entirely different thing. From here, you may want to do further research.
The other option is to consult Computronix security experts to create a
tailored solution that will fit your company's size and budget.
Remember, the cost of dealing with cyber
security losses is always higher than that of prevention.
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