Cyber threats are real and affect us all, whether at a personal level or professional level. We are all exposed to cyber security threats. The only way to be exempt from cyber threats is to live entirely offline, and since that is not possible in our world, the best we can do is to take preventative members.
Small to medium businesses generally focus on a niche market and don’t have the financial resources to recover from client data leaks as big corporates can, making cyber security more critical for small businesses.On a personal level, attackers can steal your casino Belgium login details or leak sensitive media, this can be devastating, but for a small business, a singular act of hacking can mean the end of that business.
Types of Cyber Threats
According to Cisco CEO John Chambers, Companies fall into two categories, those that know they have been hacked and those that are not aware of the hacking. Sometimes attacks will happen without you being aware of them for long periods. There are many reasons for cyber attacks. Some will demand money others want your clients or your company’s data. Below are the most common types of threats:
- Ransomware – this attack demands payment in exchange for restoring services or allowing you access to your network.
- Emotet – this is an advanced banking Trojan designed to duplicate a banking download and steal financial data.
- Phishing – phishing attacks usually happen via e-mail but can also be in the form of SMS. This is fake communication aimed at tricking the receiver into clicking a link that will install malware on the device or steal sensitive information.
- Man in the Middle (MITM) – This attack happens when an attacker intercepts a two-party transaction and inserts themselves in the middle. Once they have done this, they can steal data and any sensitive information in the transaction. These attacks often happen when a user uses an unsecured Wi-Fi network.
- Denial of Service (DoS) – with this kind of attack, a server is flooded with requests until it shuts down. Attackers use the downtime to infiltrate other parts of the system and launch even more attacks.
How to Prevent Attacks
According to a report by Verizon, 46% of cyber attacks were aimed at small and medium enterprises. The reason for this is simple. Attackers know that new business owners face numerous financial decisions and a limited budget, and cybersecurity ends at the bottom of the list. How do you mitigate the risk of cyber attacks as a small business owner?
- Install encryption software to protect sensitive information, such as client and company financial data.
- Two-step authentication helps prevent the likelihood of password cracking, especially if the password is randomized.
- Educate your employees; company employees are the easiest entry points, especially regarding phishing and password attacks. That has been more prevalent now with remote and hybrid work.
- Update your software, as this will ensure there are no vulnerabilities in your system that can become a target point.
- Back up your files; in the event of ransomware and you lose valuable information, would you be able to get it back? It’s best to invest in an offline storage facility, not on your premises, and get a system that can automatically back up files and data.
Cyber attackers target small businesses because they have more digital assets than individuals without the security of big corporates. It’s best to invest money in security measures rather than spending money trying to get back information from an attacker.