A technology progresses, more businesses and companies are now taking their operations online. However, with the increase of digital activity comes the rise of cybercrime globally. Cybercriminals with malicious intent resort to using more intelligent ways to achieve their sinister goals.
Cyber threats range from unauthorized access to accounts, data breaches, identity theft, or any other kind of activity that affects technology in a bad way. And this is not a problem exclusive to tech-related business only; every niche can experience cyber-attacks.
As technology evolves, cybercriminals still find a way, the slightest gap to breach through. While some cybersecurity practices have become standard protocol for every company, stakeholders need to take extra measures to ensure safety and security. They must invest in tech experts who have the necessary skills and resources to protect from cybersecurity and tech threats. However, to first understand how they can protect businesses from cybercriminal activities, we must first understand cybersecurity.
What is cybersecurity?
Cybersecurity is the protection of networks and information across the digital space. The purpose is to avoid any cyber theft, information leaks, or damage to the company’s hardware, data, or software. And why is cybersecurity important for a business or company? Valuable customer information, money, and the company image are at stake. Therefore stakeholders must be ready to identify threats and take immediate action to prevent significant losses. Considering that digitalization and tech dependence are on the rise, listed below are some technology-related threats businesses and companies should be wary of.
1. Phishing attacks
In a phishing attack, cybercriminals pretend to be someone else. For example, they pretend to be someone in power or a trusted services provider, such as your boss, friend, colleague, or bank. Most commonly, the cybercriminal contacts you through a slightly different email address or account name.
They send you a link or an attachment and encourage you to open and log in from your personal or company device. Often, they will ask you to enter personal information such as your account password, bank account number, social security number, etc. After gaining this information, they breach your accounts and steal data.
According to research by Proofpoint, almost 75% of the world’s businesses and organizations experienced phishing attacks throughout 2020. Additionally, about 74% of attacks on the companies in the United States were successful, which is relatively high. These attacks are only expected to become more prevalent in the coming years as businesses go digital.
Therefore, business owners and employees should be ready for any instances of phishing and avoid sharing any sensitive information with anyone without confirming first. If someone tries to impersonate someone you trust, call them directly to ask why they need the company’s credentials. In most cases, a simple call can save you from a phishing attack.
2. Cloud jacking
Cloud computing is an easy method to store vast amounts of data and process it in such instances. Because of this, intelligent cybercriminals begin infiltrating cloud storage systems. This form of cyber-attack is known as cloud jacking.
Once a cybercriminal breaches the cloud computing platform, they may try to reconfigure sensitive data, acquire information to leak it, and eavesdrop on the company’s communication channels. They also use the sensitive data available to make phishing easier for them. As a result, they can cause significant damage to the company by leaking account details or even moving funds into scam accounts. To avoid this problem, ensure that you utilize trustable cloud services and deploy a safe network connection that is not easy to breach.
3. Network perimeter and endpoint security
As more people opt to work from remote places, professionals are at a greater risk of endpoint security and improper network perimeter issues. A remote work setup doesn’t always have the necessary security measures to keep your work and data safe. In addition, you don’t have an IT department to ensure your network and information’s safety. Therefore, your computer, phone, servers, and database connections are at a higher risk of cyber-attacks.
In addition to that, the fast-paced work and communication systems make you prone to falling for a phishing attack. This is because you are more likely to click on such a link or convey your sensitive information without a second thought. However, corporations are now taking steps to ensure their remote workers’ network perimeter and endpoint security through different measures. At the very least, if you are working remotely, consider purchasing a subscription for safe internet browsing and connectivity services.
4. Mobile malware
More than half of the world’s population is connected to the internet via a smart device. Since employees use laptops and smart devices such as tablets and phones for work, mobile malware attacks are increasing. Mobile malware is unique software designed to affect smart devices of all shapes and sizes. As many employees shift to laptops and mobiles, sensitive data stored on phones and tablets become more vulnerable to mobile malware threats.
5. WI-FI and 5G security vulnerabilities
Cyber-attacks are no longer easy to recognize schemes that anyone with common sense can stay safe from. They are becoming more sophisticated, making them more likely to attack the digital spheres with several vulnerabilities.
When it comes to WLAN security, most cybercriminals carry out denial-of-service attacks. This means that they flood the network and servers to the point that it affects its availability. Apart from that, phishing takes a new mode when the cybercriminal renames the WI-FI after the company, tricking people into connecting with it to gain access to the devices and steal data easily.
Apart from that, open security protocols, inadequate firewalls for several interfaces, and lack of encryption for communication and data transfers make 5G vulnerable to cybersecurity attacks. Furthermore, the high data volume on 5G creates more vulnerabilities for the users, causing more cybersecurity attacks.
Staying informed about the latest cybersecurity threats and updating your security systems is a full-time job, which is why major corporations have a separate department to deal with security threats solely. IT experts all over the world work day and night to protect against such security attacks.
What you can do for the sake of your company’s safety is to conduct meetings, informing each employee about cybersecurity threats and how to deal with them. Set proper procedures and guidelines about what steps to take in case of cybercriminal activity. And most of all, acquire the services of IT experts to make your network and system safer.