These Are the Current Cybersecurity Issues Businesses Should Worry About

These Are the Current Cybersecurity Issues Businesses Should Worry About

About 43% of cyber-attacks are aimed at small businesses. Yet, only 14% of small businesses have the right tools to defend themselves from these threats. Companies need to know the current cyber threats and how they can protect their businesses from the menace.

Cyberattacks come in many forms. The attackers are pretty smart, and they keep developing strategies that can potentially harm your business. You need to be aware of the trends in cybersecurity for better protection.

So, what are the current cybersecurity issues facing businesses? Here are some of the latest cyberattacks that you need to be aware of in 2020.

IoT-Based Attacks 

IoT attacks refer to the cyberattacks aimed at sneaking malware to internet-connected devices such as WiFi-enabled alarm clocks, appliances, and speakers. Manufacturers have not been keen on enhancing the security of these smart devices. As such, attackers can compromise them easily.

It would be best to execute an inventory of all the devices connected to your network. Confirm the type of operating system they use. Having an up to date firmware will help resolve potential exploits.

When adding smart devices in your office, be keen to document them appropriately. Check out for firmware updates that you need to run before installation. It would also help to analyze the smart devices and their cybersecurity needs.

Malware Attacks 

Malware is amongst the current cybersecurity issues crippling many small businesses. Malware encompasses a range of cyber threats, including viruses and trojans. It is usually a malicious code created by hackers to gain access to networks to destroy or steal data on computers.

You can be a victim of malware if you open some spam emails, download stuff from malicious websites, or connect your machine to infected devices. The malware can make your device malfunction, and expensive repairs might be necessary. Worse still, the malware allows hackers to access your data.

A business requires a robust technological defense to deter malware. It would be best if you considered hiring cybersecurity firms for the best technology support. The price you pay for these solutions is nothing compared to what you’d lose if you’re a victim of the malware.

Ransomware 

Ransomware has been threatening small and large businesses. This malware is from crypto-virology, which makes malicious software. When it lands on your computer, it locks your profiles and data.

Your data becomes a hostage. Hackers tend to hold data hostage until you pay a ransom. If the data contained in ransom is valuable, you have to pay or lose all your documents.

You’re probably a victim of ransomware attacks if files on your computer won’t open.  A locked computer, web browser, malicious emails, and encrypted files are also symptoms of ransomware attacks. Ransomware attackers target businesses as they are almost confident owners will pay the ransom.

Perimeter security such as firewalls are excellent in preventing hackers from uploading malware to your system. You should also ensure that each workstation has an antivirus program to scan emails before opening. While at it, consider having a disaster recovery plan to help backup documents to prevent losses.

Phishing 

Social engineering, commonly known as phishing, accounts for 90% of all data loss incidents. This widespread form of cyber threat makes businesses lose billions. Phishing often occurs when attackers entice users to give them sensitive information, download a malicious file, or click compromised links.

These hackers keep growing smarter. You might never know you’re being scammed as the attackers pretend to be genuine. The increasing sophistication of phishing has made it hard to combat.

Businesses can reduce the risk of phishing by adopting some anti-phishing solutions that detect false emails with compromised links. It would also be best to have the least privilege policy, limiting users from accessing what they only need for the completion of tasks. More importantly, your workers can benefit from cybersecurity training.

Security Breaches 

Current cybersecurity issues do not always emanate from outsiders. Employees can mastermind internal security breaches, which are equally devastating. Some of these workers are outrightly malicious, while others pose a threat out of sheer carelessness.

Security breaches can take many forms, which might be hard to predict. For instance, an employee who leaves log in details carelessly on a publicly used computer can allow unauthorized persons to access your systems. Former employees with login credentials can also be a threat to your company’s security.

You can address this security threat by investing in password management. When you have one person in charge of the passwords, it is easier to deter malicious people from accessing your information. Changing passwords at least every 60 or 90 days can also enhance security.

While at it, you need to be careful when hiring. Execute thorough background checks and investigate if an applicant has any associations with your competitors. More importantly, train your employees to avoid simple mistakes that could spell doom to your company’s cybersecurity.

Man-In-The-Middle Attack (MITM)

One of the cybersecurity trends of 2020 is the attacks on a company’s communication systems. MITM is an attack directed on your network and communication servers. This threat is often smooth, and you might never detect a risk until it hits.

Imagine being on a call with your high-value client discussing grand plans. Then, you receive an email soon after the call, with threats that all the information you talked on the call will be leaked. Nothing is scarier than this MITM attack!

Depending on the stakes on the table, you might be at the mercy of these network hackers. Most MITM attacks target e-commerce sites and financial enterprises. The hackers can change your passwords to their advantage or even make fund transfers.

Like most other cybersecurity attacks, you can avoid MITM by not clicking suspicious links, using a secure WiFi, updating your OS, and ensuring that your DNS servers are secure. Being cautious in all your internet engagements will save you several threats.

Current Cybersecurity Issues Can Cripple a Business 

The constant advancement in technology has made cyber threats more complex. Businesses hardly unveil current cybersecurity issues until they hit their companies. It would help to know more about the potential cyber threats and how to prevent them.

Please explore our site further for more tech-related articles.

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