There has never been a more urgent need to invest in cybersecurity risk management. Cybercrime costs the world over 6 trillion dollars a year. Reports of ransomware attacks seem to be a daily occurrence. While managed IT services are able to assist businesses to lay down the groundwork, the truth is that business owners and their employees need to know what to look out for.
Increasing cybersecurity intelligence, upgrading hardware, and software security, and employee training in cybersecurity risk management must be a top priority for any small business to succeed in today’s cyber-driven world.
Defining Cybersecurity Risks Facing Small Businesses
The following are some risks facing small businesses today. It is neither inclusive nor exhaustive, as new threats emerge daily, hackers continue to exploit vulnerabilities to leverage power and demand financial reward.
Phishing Scams
Phishing scams have become more creative and convincing than in the past years, And they take many forms. Any effort to elicit personal information or company data by pretending to be honestly communicating qualifies as a phishing scam.
Fake emails pretending to be the boss or a colleague, fraudulent websites that request personal information or email addresses, texts that require you to click on a link to see the attachment–these are all examples of phishing. The best defense against phishing is employee training.
Advanced Ransomware
Ransomware is a type of malware or malicious software that exploits IT system vulnerabilities and inserts code into existing software to steal data. The attackers then demand ransom to restore the data to the victim and remove the malware.
A recent example is the attack on Colonial Pipeline that cost over $4 million to restore company operations. Password theft of just one company password caused this cybersecurity breach. It is possible that having two-factor or multi-factor password authentication might have prevented this attack.
speak with one of our IT specialists todayInternal Leaks
Internal leaks happen when you hire the wrong person and their entire purpose is to steal company data using their employee status. The best defense against this type of cybercrime is a robust human resources strategy and close attention to patterns of employee behavior that might show nefarious intent.
Cloud Jacking
Cloud jacking occurs when a hacker exploits cloud computing vulnerabilities and takes over a user’s entire cloud account. This is often the result of identity theft that might occur from a phishing scam.
The right managed service provider is able to equip your business with cloud solutions that could minimize these vulnerabilities. But at the end of the day, it is up to the users to have the cybersecurity knowledge to not click on questionable links.
DDoS
DDoS stands for “Distributed Denial of Services.” This occurs when attackers, often many people working together, target a system intending to block the user from being able to have any access.
One example of this is a Buffer-overload attack, where hackers overwhelm a targeted system by sending more requests, data, or information than the targeted system can process, resulting in a system-wide shutdown. This might be to slow down a process, stop a process, or it might be a ransomware event.
Trojan Viruses
Trojan virus attacks come in several forms, but what defines them is that they are disguised as helpful tools or software programs that victims often download without realizing they also carry a destructive virus. Some steal passwords, some steal personal information, and others shut down your operating system entirely.
Let TrinWare Be Your Cybersecurity Partner
Although cybersecurity can feel daunting and overwhelming, using TrinWare as your Managed Service Provider (MSP) will bring peace of mind that your business’s data is secure.
We offer fully customizable IT security services to fit your business perfectly. We secure hardware, software, and provide custom cybersecurity training to make everyone who relies on you feel secure.
Are you ready to protect your business from cybercriminals intent on breaking down your barriers? Contact TrinWare today to schedule a free consultation with one of our IT specialists.