Top 10 Cybersecurity Threats That Might Cripple Your Business & How to Prevent Them

Our connected world is a boon, a dream-land, too-good-to-be true. The catch? We are connected to the bad guys too! Cyber threats affect enterprises of all shapes and sizes, governments, corporations, and basically anyone on the internet.?

We are painfully aware of how at risk we are, it's easy to understand how easy a target you are. The hard part is knowing how to avoid being a target, how to manage the risk, cover the loopholes, and find the best solution suited to your needs. It is the hard part we can break down for you here! Let's look at some of the biggest cybersecurity threats businesses face and how to prevent them.?

1. Distributed denial-of-service (DDoS) attacks

This is a complex form of attack where multiple compromised machines attack a target. The target is usually a server or a website or a network resource. The target is flooded with connection requests, incoming messages or other data to slow it down and crash it. This denies other legitimate users from accessing the target.

?What you can do:

• Monitor network for abnormal behavior
• Regularly update and patch network security problems
• Have a detailed protocol in case of a DDoS attack?

2. Third-Party Exposure

Organizations transact with hundreds of third-party partners daily. This is a way in which cybercriminals can attack one and affect many. A third-party exposure attack is also known as a supply chain attack. It can lead to severe financial losses, data loss, breach of compliance, legal liabilities and loss of reputation.

The SolarWinds hack or the US Federal Government Data Breach of 2019-20 is one of the most notorious hacks and is an example of third-party exposure. Here’s how to prevent them.?

What you can do:

• Have a central repository of all third-party vendors
• Determine the risk potential of the vendor
• Assess the level of risk by having vendors fill out risk questionnaires?
• Develop a security scorecard based on the level of risk involved
• Address the risk in order of priority
• Continuous risk monitoring

3. Phishing attacks

Phishing attacks involve manipulating a user into taking some action such as downloading certain links or opening links in emails which leads to them willingly or unwittingly giving up personal information and credentials. This is so popular and rampant that Verizon reports that 22% of all data breaches are phishing. Emails posing as job offers, invoices from employers, impersonating big brands and scams find their way into unsuspecting inboxes.

What you can do:?

• Use proactive phishing prevention tools
• Use AI to detect potential phishing?
• Create a thorough email security awareness among employees

4. Social engineering

Social engineering is the active manipulation of users to comply willingly to do a hacker's bidding. They try to gain the trust of the user, who then unwittingly lets them access sensitive information, and bypass security measures. The user may give away their personal information and credentials out of trust.?

What you can do:

• Do not follow through with requests for personal information
• Set high spam filters
• Reject offers or requests for help

5. Drive-by download attacks

This is a form of attack where accessing or browsing a website can lead to the automatic downloading of malicious code into the system. The user may be unaware of this. These drive-by downloads are used to inject banking Trojans, malware, or exploit kits. The hacker does this by taking advantage of some loophole in the security system or patch management.?

What you can do:

• Keep all patch systems up-to-date
• Use security software that detects insecure websites.?
• Have strong web security in place.?

6. Ransomware

As the name suggests, this hacking involves locking the user out of the system by encryption. They are offered access in return for a ransom which is usually funded in bitcoins. Ransomware can be downloaded by a user unawares by clicking a familiar-looking link, infected software apps, or external storage devices.

What you can do:

• Keep regular and safe backups
• Avoid clicking on suspicious links or emails
• Have a comprehensive training for employees on ransomware

7. Viruses and network worms?

These are malicious programs that infect an organization’s systems, network systems and data. It lies dormant until someone unknowingly activates it. It then replicates and destroys files within the system. In systems with low-security systems, worms and viruses can wreak havoc.?

What you can do:

• Have a strong antivirus and antimalware software
• Not downloading anything from untrusted sources
• Creating awareness among staff and users

8. Advanced persistent threat attacks

These are targeted attacks which seek to steal information and monitor activity in a system or organization. The targets of such attacks are usually high profile. Large corporations and subjects of national interest are likely to be prone to this attack. However, it can be prevented too.

What you can do:

• Deploy software, hardware or cloud firewall?
• Web application firewall to detect and prevent attacks.?

9. Cloud vulnerabilities?

The cloud is incredibly useful, but it comes with a host of risks too. Cybersecurity threats like account hijacking, data breaches, insecure APIs, Malicious insiders, and poorly configured security tools can lead to security breaches. It takes a comprehensive approach to protect cloud systems from cybersecurity threats.

What you can do:

• Conduct regular security audits?
• Secure encrypted servers?
• Have a strong cloud security system

10. Insider threats??

This threat involves employees or insiders with access to its key resources, who intentionally or unintentionally use the access to attack the data and systems of the organization. This may be carried out through employees who are not thorough enough with their security procedures or are simply careless. It could also be from disgruntled employees who act with malicious intent against the enterprise.?

What you can do:

• Limit employee access
• Create awareness among employees?
• Implement two-factor authentication
• Employees monitor software for assessing employees.?

Final Thoughts

Cybersecurity threats can take away your peace of mind. Everyone is at a risk to a degree. If not eliminated, you can prevent attacks and protect your business from incurring losses. Silwana Infotech offers comprehensive cybersecurity solutions tailor-made for every enterprise. Reach out to us to discuss how we can help you shield your business against cybersecurity risks.?

Visit us. www.silwanainfotech.com