Cybersecurity is one of the biggest challenges businesses face in the digital age. No matter how advanced their defenses are, cyber threats continue to evolve and plague businesses, making constant vigilance essential. But the first step in countering cybersecurity threats is knowing what you’re actually up against. With this in mind, let’s explore the most common cyber threats businesses face today.
6 Cybersecurity Threats to Watch Out For
Because new threats can pop up quickly, keeping up with the latest cybersecurity trends is imperative. Here are the threats that have the potential to wreak havoc on your business (especially if you don’t have a comprehensive cybersecurity strategy in place).
No. 1 – Ransomware
As of 2023, over 72% of global businesses have experienced a ransomware attack at some point in their operations. Even worse, these attacks don’t appear to be slowing down. They’re here to stay, and they’re here to harm your business.
Though there are numerous ransomware attacks your business might experience, they all have the same goal – to extort money from you by encrypting your critical data and demanding a ransom for its release.
Worst of all? There’s always the potential threat of double extortion. This happens when the malicious actors threaten to sell or expose the hijacked data rather than simply ask for a ransom.
Safeguarding your business against ransomware involves several cybersecurity techniques. However, two steps are arguably the most important in this process.
No. 1 – investing in robust cybersecurity defense to prevent the initial breach in the first place.
No. 2 – having a solid backup plan for all your data to ensure that you can restore your operations without paying the ransom
No. 2 – Social Engineering
With social engineering attacks, the malicious actors don’t target your cybersecurity system directly. They go after your employees. The goal is to manipulate them to expose confidential information or grant unauthorized personnel access to secure systems.
Most commonly, social engineering tactics include phishing, the fraudulent practice of sending emails purporting to be from reputable sources to trick individuals into revealing sensitive information. This is also the most common email attack method, making up almost 40% of all email threats.
Other common tactics include pretexting, where attackers create a fabricated scenario – which generally involves offering something enticing to lure victims into a trap – to obtain information
Since your employees can be part of the problem, they also must be part of the solution. In other words, the best way to protect your business against social engineering attacks is to train employees on how to identify and, of course, avoid these attacks.
No. 3 – Cloud-Based Attacks
More and more businesses worldwide are adopting cloud computing every year. That’s why it shouldn’t be surprising that cloud environment intrusions are also intensifying, increasing by a staggering 75% in 2023.
Cloud-based attacks encompass a wide range of cybersecurity attacks, such as data breaches, account hijacking, and insecure APIs. Still, all of these attacks have one thing in common – they prey on vulnerabilities in cloud infrastructure.
With this in mind, it becomes quite clear what you have to do to protect yourself – bolster cloud security measures and regularly monitor this environment.
No. 4 – Supply Chain Attacks
Supply chain attacks are a relatively new cybersecurity threat whose scope and frequency have significantly increased in recent years.
In supply chain attacks, hackers target the interconnected network of suppliers and vendors that provide goods and services to a company rather than attacking the company itself. All they need to do is find their way into the supply chain network, and the entire network might be compromised.
Unfortunately, the more your business relies on open-source platforms and APIs, the more infiltration points you potentially expose to malicious actors. The solution? Implement rigorous vetting and monitoring processes for all suppliers and vendors and maintain a robust incident response plan.
No. 5 – Misconfigurations
Sure, not all cybersecurity attacks can be prevented. However, when you don’t even cover your bases, you practically invite potential security breaches and vulnerabilities into your system. In cybersecurity, “covering your bases” refers to clearly defining and implementing security settings and configurations across your systems, networks, and applications to ensure they are properly secured and protected against threats. Fail to do so – or leave the settings on their default values – and you risk falling victim to a cyberattack. After all, hackers find it extremely easy to spot misconfigurations and use them as an entry point into your system.
No. 6 – Device Hacking
An unsecured Wi-Fi network is all cybercriminals need to gain access to all the smart devices using that network. But even access to a single device is enough for them to carry out several attacks across the entire network. Data theft, malware installation, distributed denial-of-service (DDoS) attacks… you name it, and it can be done. Throw the growing trend of remote work into the mix, and the risk of device hacking only increases.
Luckily, there are numerous ways to protect all the devices used within an office environment. Using secure passwords, keeping up with software updates, using antivirus and anti-malware protection (and instructing clients to do the same), and encrypting data are just some of them.
How to Counter Cybersecurity Threats
Unfortunately, there’s no one-size-fits-all solution for preventing cybersecurity threats. Each threat is unique and must be treated as such.
However, most of the solutions for these threats involve a holistic approach to cybersecurity. This means implementing multiple layers of defense and ensuring no network component is left behind.
For most businesses, this is an impossible mission to accomplish on their own. That’s why managed IT services are crucial.
With these services, all the vital components of your company’s technology network are monitored, updated, and secured by professionals with expertise in cybersecurity. The result? Security for your business and much-needed peace of mind for you.
Stay Proactive
If you’re looking for rock-solid managed IT services in Philadelphia, eastern Pennsylvania, New Jersey, or Delaware, KDI Office Technology is the way to go. Get in touch with us today to discuss your cybersecurity needs and discover how our tailored solutions can safeguard your business’s IT environment.