Common Cybersecurity Risks
Since the inception of the internet, cybersecurity has always been a risk. And it’s not going to go away any time soon. Over time, malicious actors have become smarter, too. Staying ahead of the cybersecurity curve with a pro-active rather than a reactive approach is how businesses can outsmart them.
The pandemic has seen four-fold increase in cybercrime according to the FBI.
The issue of security should be at the top of the agenda for any business. Security breaches can have a terrible effect on business brand and customer confidence. Not being up to scratch with your security can also hinder business growth and the potential for increased revenue. Some common cybersecurity risks include:
Malware
Written by malicious actors, malware is a small piece of software that installs itself on a system with the aim of causing problems. It can spread like a virus through systems. Malware can do anything from deleting files to preventing access to an application, to stealing sensitive information.
There are different types of malware. Ransomware corrupts storage devices then requests payment in exchange for a key to revert the data back to its original state. Trojan malware masquerades as a safe, harmless program so users will trust it and install it. Worms generally spread through emails by searching through the contacts database of its victim and then it sends itself out to other contacts via email.
Password and identity theft
Malicious actors can guess a password using sophisticated software and then use that password to gain access to personal information and larger networks to steal more information and lock users out. This can also happen with phishing attacks where the user is tricked into providing their password or sensitive data by links in an email that seem legitimate, like a government website for example. Malicious actors can then collate personal information and potentially steal one’s identity and use it for their gain.
Distributed Denial of service (DDoS)
Distributed Denial of Service is where malicious actors send servers large amounts of traffic to potentially crash the server or slow it down to harm the reputation of the business.
Man-in-the-middle attack
These kinds of attacks involve a malicious actor who intercepts communication between two parties. The two parties think they are communicating with one another, but they are actually communicating with the malicious actor.
Malicious insiders
Malicious insiders are employees, former employees, contractors, or business associates with legitimate access to business systems and data. They use their access for their own gain or to sabotage the business.
The above are just some of the types of cybersecurity risks out there. Other types of attacks that business systems are vulnerable to include drive-by-attack where the hackers put malicious code onto the system, SQL injection, cryptojacking and more.
Failure to address external cybersecurity risks as well as internal ones with a strong cybersecurity policy is often where businesses trip up. Sometimes, there is a lack of understanding of what constitutes as a threat, and there is often an underestimation of the sophistication of malicious actors. The value of digital assets to a business is sometimes only felt when it’s too late, especially where there isn’t a thorough recovery plan.
Staying on top of cybersecurity can be an overwhelmingly mammoth task. Handing this responsibility over to security experts who work with security issues day in and day out can relieve much of the pressure. It can also get rid of the need to hire security experts in-house. Talk to the experts at Lindentech today to find out how they can help.
