Small businesses should not feel like they are safe from cyber threats. Both small and large enterprises are an attractive target for hackers who wish to exploit potential security holes.
Since criminals can automate the process and attack multiple businesses simultaneously, they do not have to be picky about who to target. If cybersecurity is a weak point of your organization, you stand to lose a lot.
Having said that, a proper cybersecurity strategy starts with knowing what threats to expect.
1. Vulnerable Networks
If someone uses public Wi-Fi while working, they risk exposure. Wi-Fi in libraries, cafes, airports, and other public locations tends to lack the necessary security protocols. Hence, it creates a perfect opportunity for hackers to initiate a cyber-attack.
The best way to avoid this threat is to use a secure network. However, if there is no option but to rely on public Wi-Fi, a virtual private network comes in handy. It encrypts data and masks the IP address, protecting the user.
2. Insider Threat
Never discount current employees as a source of a threat. They might be up to no good, trying to exploit their position. Someone could access critical data and manipulate it to launder money or sell customer information.
While bigger organizations have AML software, dedicated cybersecurity teams, and regular employee training to educate them about cybersecurity attack threats, the same cannot be said about smaller businesses. They simply lack the necessary resources to invest.
Even if the resources are low, a business should still have a control policy that prevents insider threats from occurring. Encouraging a strong security culture within the company and limiting credential access to a select few helps as well.
3. Poor Password Policy
Having multiple devices and online accounts to keep track of encourages people to use the same simple password for everything. It presents a significant challenge for a business that relies on cloud-based services.
One employee’s carelessness is enough to jeopardize an entire organization. Compromising a cloud server with an easy-to-guess password can be avoided by implementing password management technologies.
These technologies offer a platform to safely store and access passwords while also suggesting combinations that are difficult to crack. In addition to password managers, businesses can also utilize 2FA.
Multi-factor authenticators ask for an extra step to log in. In addition to the password, a user would also need to enter a code they receive via a text message or an email or even use a tangible key code generator.
4. Phishing
Phishing attacks are an imposing cyber threat because they target individuals rather than technological holes. For instance, using social engineering, a hacker manipulates people into sharing sensitive data over social media while talking to them. Over time, the target starts trusting the threat actor, and there is no telling how much they might reveal.
It is up to the organizations to ensure that employees receive the necessary training so they are aware of phishing as a potential threat. Raising awareness should not be hard, particularly when the training covers the basics.
5. Malware
Malicious code cripples device performance steals data, and provides access to the network. A cybersecurity risk that might seem problematic is not that difficult to overcome, even though it is quite common.
The way to prevent the cybercriminal from exposing your device via a malware attack is to install antivirus software on the device and scan it for threats on a regular basis. And keep in mind that this applies not just to devices employees use for work. Personal computers and smartphones are also a target for cyber attackers. Hence, these devices should have the necessary anti-malware tools on them too.
Ransomware
Holding a company hostage and asking for a ransom to stop a cyber attack is one of the most lucrative forms of a cyber threat. The best example could be a hacker who designs malicious code to prevent a user from accessing their computer. They ask for payment in exchange for a decryption key, and many businesses bulge in because it’s the cheapest and easiest way to eliminate the problem.
Ransomware comes back to a poor cybersecurity policy within an organization. If a hacker can find a way into someone’s device, it’s a clear sign that the company has a gaping hole in its security.
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