Top Four Cyber Security Threats to Businesses

There is this thing with the disasters that they don’t come with a prior warning. When it strikes, you are either prepared for it or simply face the horrendous consequences. Similar is the case of a cyber-attack.

With millions of hackers trying to intrude security systems in the most unexpected ways, companies are facing all the odds with some getting affected to an extent where they have to shut down their operations entirely.

The work styles of businesses are changing and every day there are new threats to data security. Whether it is employees’ credentials, customers’ payments, or businesses’ strategies information, all the organizations are extra-cautious for their sensitive data.

Network security may seem like an easy job to deal with, but for companies, it may cost a fortune. Cybercrime alone causes trillions of costly damage to organizations each year and appears to continue growing with passing times.

Therefore, new companies and enterprises should be aware of the ever-evolving ways that hackers use to exploit their business and threaten their sustainability in the industry.

Here are some of the major threats confronting the businesses lately:

  1. Human Nature

Believe it or not, people are the primary reason for cyber security threats. The existing employees, former staff members, business partners, vendors, or others that have/had access to your network systems often cause the biggest nuisance, whether with or without intent.

Cyber-attacks occur due to human negligence or lack of cyber security knowledge. Your employees get tricked by seemingly legitimate tactics of hackers and unknowingly aid their mission. At times, the ex-employees steal and sell the data of an organization. And once, the data is stolen, the reputation of a company takes a major hit.

  1. Malware Attack

The advancement in technology comes with a number of vulnerabilities. The cybercriminals exploit these vulnerabilities to control the smart devices and applications and even the surveillance system of your offices. To add up to the trouble, the owner of the system doesn’t even become aware of it.

Malware is known as a master of disguises and cause unimaginable harm. It keeps working in the background and takes away all your data without letting you know. Some of the common types of malware are – Emotet, Kovter, NanoCore, Trickbot, etc.

  1. Phishing

There was a time when Phishing was just out of its infancy; however, today it has reached a level where it has become extremely hard to distinguish it from genuine communication; all because of the authenticity on the part of cyber hackers and a lack of awareness in viewers.

Phishing is a fraudulent act in which an attacker masquerades as a reputable entity or person in order to perform some type of action to elicit sensitive information from a victim. It comes in forms like CEO fraud, smishing, clone phishing, domain spoofing, URL phishing, etc. to make the communications appear bona fide.

  1. Ransomware

It is a type of software designed to block access to a device and important files until a sum of money is paid out. It is similar to hi-jacking where the system will be unlocked only when the owner pays the ransom.

As you can imagine, attacks of such a scale can cause havoc in the workplace and cripple the whole IT infrastructure of an enterprise, whether big or small.

Having discussed these threats, there is no way to ensure that your system can be made 100% impenetrable. However, you can protect your data by deploying the best data management practices and contacting professional data recovery services when required.