There are several cyber threats that businesses should be aware of and take measures to protect against. Cybersecurity is a growing need for businesses and having a solution in place is imperative to protect your business. In 2022 phishing increased by 48%, costing businesses $12.3 million. Data provided by Comptia.org.
Let’s take a look at what cyber threats your business could face and why cybersecurity is a growing need.
Malware
Malware, short for “malicious software,” is a type of software designed to harm a computer system, steal data, or gain unauthorized access. Malware can be delivered through various means, including phishing emails, malicious links, and infected software downloads. You could get it from a USB drive a client brings to your office or a link in an email. Some malware goes undetected by most users. It works in the background, stealing data, gaining access to accounts, but may not provide any noticeable differences in the performance of your computer.
Phishing
Phishing is a technique used by cybercriminals to trick individuals into providing sensitive information such as login credentials, financial information, or personal data. Phishing attacks often involve fake emails or websites designed to look like legitimate ones. You’ve likely seen a phishing email or even a phishing text. An example might be one from a bank that says your card has been has a potential security issue and they request you type in your card number to verify you still have the card. Many companies will send fake phishing emails to their employees to monitor their knowledge of phishing emails and gauge their response.
Ransomware
Ransomware is a type of malware that encrypts a victim’s data and demands payment in exchange for the decryption key. Ransomware attacks can cause significant damage to businesses by encrypting important data and disrupting operations. Once the cybercriminal has the data, they request funds before they will give it back. A few years ago you saw this tactic used against school districts. They would hack in to the school district, delete information and then request a sum of money to put it back. Rockwall ISD even had an issue similar to the one described here, but fortunately they were able to rebuild the information.
Advanced persistent threats (APTs)
An Advanced Persistent Threat (APT) is a type of cyber attack that is carried out by a sophisticated group of attackers who have a high level of expertise and resources. The goal of an APT is to gain unauthorized access to a network or system and maintain that access for an extended period of time, often to steal sensitive information or to carry out other malicious activities.
APTs are different from other types of cyber attacks because they are often carried out over a long period of time, and they use a combination of social engineering tactics, sophisticated malware, and other techniques to evade detection and maintain persistence.
The attackers behind an APT typically use a multi-stage attack process, starting with reconnaissance to gather information about the target organization, and then using that information to identify vulnerabilities that can be exploited. Once they have gained access to a network or system, they use a variety of tactics to maintain persistence, such as hiding their presence, installing backdoors, and stealing credentials.
Protect Your Business
Employing a solid cybersecurity firm is a great way to protect your business. In addition to hiring a cybersecurity company, it is also recommended that you purchase cybersecurity insurance. For a reasonable price and likely a few changes to your processes within your company, you can get cybersecurity insurance. Raptor IT Solutions would be happy to give your business a cybersecurity risk assessment and provide some recommendations to help secure your business. Contact us today!