Cyberattacks are a company’s worst nightmare. They can cripple all your business operations, drain your finances, breach sensitive customer data, and use up productive time and operating capital as you try to mitigate losses. A 2020 Internet Crime Report indicates that the U.S. economy lost $4.2 billion in 2020 through cybercrime.
Startups and small businesses are in more danger of cyberattacks because most cannot afford expensive cybersecurity infrastructure like larger companies. Also, hiring a full-time cybersecurity expert can be unsustainable for businesses with small margins.
But that’s no excuse to remain defenseless against cyberattacks. At the very least, you should be aware of the common cybersecurity threats and how to protect your business against them. In that case, let’s discuss the top cyberattacks affecting today’s businesses and how to stop them.
Phishing attacks are the most common cyberattacks businesses face daily. A 2021 cybersecurity threat report by CISCO found that phishing attacks comprise 90% of data breaches in organizations.
When launching a phishing attack, cybercriminals often impersonate a trusted or known contact within your business and send a phishing email with a malicious link or attachment. Once you or one of your workers click the link or open the attachment, the malicious code embeds itself in your computers. This gives the attackers access to your sensitive data and information.
Invest in secure email gateway software and train your employees to identify and report phishing attacks.
Malware is malicious software designed to implant viruses into your computer systems. Cybercriminals camouflage malware in the software you need for your business. Once you download this software, the malware is installed and spies on your data or infects your system.
To stop malware attacks, invest in robust endpoint protection solutions and teach your employees not to download files and software from random websites.
Ransomware is when cybercriminals access and encrypt your data files so you no longer have access. They then force you to pay a ransom to get your data back. If your data isn’t backed up, you’re left with no choice but to pay the ransom.
Invest in endpoint protection and a reliable cloud backup solution to avert ransomware attacks.
Insider attacks happen when someone with access to your company’s data and system intentionally or unintentionally initiates a data breach. Overall, U.S. businesses encounter around 2,500 security breaches daily from insider attacks.
Insider attacks also happen when your employees use weak passwords that are easily compromised. Also, a third party close to a high-level executive with unrestricted access may clandestinely use their login credentials to access and steal restricted data.
To prevent insider attacks, ensure all your employees undergo comprehensive security awareness training. Also, implement access control to restrict data access on an as-needed basis.
How Ghost Mountain Can Help
Finding the best solution to protect your business can be a challenge, given the daily cybersecurity threats facing your business. Fortunately, you can count on Ghost Mountain to help you search, review, and select the best cybersecurity infrastructure for your business. We’ll also analyze your company’s internal metrics and advise if recruiting cybersecurity personnel is a more sustainable option for your business.