Annually, cyberattacks become more advanced, and businesses become
more vulnerable. Unless one stays vigilant and informed, it's only a
matter of time before one's organization falls victim of those
cyberattacks. According to a
report from Juniper Research, a leading analyst firm in the technology sector, cybercrime business losses will likely reach $5 trillion by the year 2024.
Cybersecurity refers to the body of practices, technologies, and
processes designed to protect devices, networks, data, and programs from
damage, unauthorized access, or attack. Cybersecurity may also be
defined as information technology security.
Cybersecurity
is critical because military, government, financial, medical, and
corporate organizations collect, process, and store vast amounts of data
on computers and other devices. A substantial portion of that data can
be sensitive information, whether that be financial data, personal
information, intellectual property, or other types of data for which
exposure or unauthorized access could have negative consequences.
Here are a few of the main cybersecurity threats every organization needs to know about:
-
Phishing: This is a kind of social engineering where a cybercriminal
sends emails that look like legitimate requests from a reputable source.
Attackers may demand credit card information or login credentials (like
secure passwords). Versions of Phishing include:
-
Vishing - Phone version of Phishing is called Vishing, where an
attacker could use a spoofed caller ID like an 800-number and pose as a
fraud investigator asking the victim for payment card details
-
Smishing - Smishing uses cell phone text messages to lure consumers
in. Often the text will contain an URL or phone number saying your order
has been successfully created or you won a gift card.
-
Denial-of-service (DoS) attack: This cyber threat works by flooding
an organization's networks and servers with traffic to drain bandwidth
and deplete resources, causing the inability of the company to handle
legitimate requests.
-
Malware: This is a type of malicious software that exploits
vulnerabilities to have access to an organization's network. Often, this
occurs when someone unintentionally downloads a malware-laden program
or clicks a nefarious link in an email attachment. Malware can either be
Spyware, Viruses, or Ransomware.
-
Structured Query Language (SQL) injection: This attack works when the
cybersecurity criminal inserts malicious code into a form on a
company's app or website, which allows the attacker to uncover sensitive
information.
Most of these attacks can be prevented through educating one's
team on cybersecurity best practices, implementing common sense IT
solutions, and implementing password security guidelines. However, as
cybersecurity threats become more complicated, businesses will need to
take more critical proactive measures.
Here are four steps every member of a company should begin taking immediately:
-
Encrypt data: Data encryption is a process that converts sensitive
data into complex code. This way, if a cyber attacker steals the data,
they won't be able to use it. It is good practice to encrypt all the
information entering or leaving one's company.
-
Back up data: One of the best proactive measures one can take is to
back up all of one's data and store it elsewhere. This way, if the
systems are taken offline, or hackers steal one's data and hold it for
ransom, one will still have access to everything needed to keep the
organization operational.
-
Secure hardware systems: Every device on one's network – from
computers to mobile phones to printers Internet of Things (IoT) devices –
represents another endpoint that can be taken advantage of by
cybercriminals. That's why one must always secure systems that have
access to sensitive information with multi-factor authentication.
-
Educate the workforce: Team member negligence/errors is one of the
leading causes in most data breaches – especially when it comes to
phishing attacks. Taking time to educate one's workforce on best
practices, how to identify possible breaches, what to do if they make a
mistake, and whom to contact in the event of an emergency is one of the
most important steps one can take toward protecting one's environment.
A robust cybersecurity protection strategy demands a substantial
investment of energy, and technical know-how, and time that businesses
frequently feel they don't have. Often, the costs linked with these
efforts prevent organizations from prioritizing security. But the
potential loss far outweighs any investment in protection.
For instance, globally, the average cost of a single data breach is $3.92 million, according to
data from IBM.
Also, small- to medium-sized businesses spend an average of $1.43
million on stolen or damaged IT assets following an incident, according
to data from the Ponemon Institute, the pre-eminent research center
dedicated to data protection, privacy and information security policy.
For many companies, this level of financial loss could be ruinous.
By taking preventive measures, every company can reinforce their information system security and avoid a catastrophic disaster.
About the Author
Mayur Rele is a cybersecurity expert and cloud automation leader that
has extensive experience in overseeing global technology, security, and
cloud infrastructure in healthcare, e-commerce, and technology
companies. Mayur graduated with an M.S. in Computer and
Telecommunications Engineering from Stevens Institute of Technology and
is an active IEEE researcher and contributor.
Media Contact Company Name: Zeal Tech LLC
Contact Person: Mayur Rele
Email: mayurrele@gmail.com
Country: United States
Website:
mayurrele.io
