Top 7 Cyber Security Threats Facing Businesses Today

Cyber attacks are unfortunately on the rise and, if you become a victim, they can be debilitating for your business. Today, looking after your cyber security should be as much a part of your business as putting locks on your doors or managing your landscaping.

Understanding your cyber security needs will help you attack them head-on, for the betterment of your company. So which threats should you monitor? We’re happy to explain.

Read on to learn about the most pressing cyber security threats facing your business today.

1. Phishing Attacks

Phishing is one of the most prevalent types of cyber attacks that you’re likely to face right now. A phishing attack involves extracting personal information or sensitive data from you. This type of attack happens when you click on links that you shouldn’t.

The links are often presented as information from businesses you might patronize, such as banks or retail companies. Once you click the link, you’re taken to a web form that will keep your personal data. Always check the browser to make sure that the site has a secure HTTPS extension, and use browser plug-ins that let you know when a website seems suspicious.

2. Ransomware Attacks

Ransomware attacks recently grew by 105% in a single year. These attacks are not just prevalent, but they’re also incredibly damaging. With a ransomware attack, your data is breached and access to your system is held hostage. The party on the other side will require payment to give you access back to your own information.

Because these attacks are on the rise, you’ll need to be mindful of them and should have tech professionals on standby that can help you out. It’s important to get this professional help since ransomware attackers often have no intention of freeing your information, even if you pay up.

They also may still release your personal data after receiving payment.

3. Password Hacking

Your small business is a target for hackers looking to breach your precious data. You can avoid a lot of this by setting strong passwords and changing them regularly.

One of the best steps you can take is to create long-form passwords that contain:

  • Uppercase and lowercase letters
  • Randomly generated characters over guessable phrases
  • Numbers and symbols

Make sure that everyone in your company changes their passwords consistently, and that they never give theirs up to anyone. There’s never a situation in which anyone else will need their password, so remind them of this, keep it as a policy, and make sure they stay vigilant over protecting this information.

4. Man in the Middle Attacks

Man in the Middle Attacks (MitM) happen when another party intervenes between you and another party that you trust. They step in and intercept your data, or tamper with it in a way that re-routes or ruins the transaction.

You’ll need to be extra vigilant about any party that you exchange information with – particularly if you’re sending or receiving money.

5. Endpoint Attack

Your smartphone, laptop, tablet, and other devices are all considered endpoints. This attack finds faults and weaknesses with these individual devices so that they can then gain access to your entire network.

This is the type of attack that can hurt businesses of all sizes and in any industry. Over 4 million people today work from home at least part-time, so your company needs to make sure that everyone’s endpoints are properly secured and cared for. These security practices need to be updated on a regular basis to keep individual and company wide information more secure.

6. Malware Attacks

Malware attacks are still some of the most common forms of breaches that companies deal with regularly. These viruses come in different forms and can compromise your information and infrastructure in different ways.

Here are some of the more common types of malware:

  • Spyware
  • Bots
  • Trojans
  • Adware
  • Rootkits
  • Worms
  • Keyloggers

Tackle your malware needs by setting up scanning software, monitoring your activity, removing viruses, and upgrading your software. The more you stay up-to-date with your malware issues, the easier time you’ll have keeping your data in order.

7. Failing to Have a Plan

Always put together a plan for handling your cyber security needs. By having the help of a company that specializes in cyber security, you’ll have a forecast for these needs and will be able to stay several steps ahead.

Document your policies for protecting your company from cyber breaches and responding to them after they happen. Let your employees know who they should communicate with if they notice any suspicious activity. Putting a policy into place will also help you minimize downtime.

Lastly, getting regular updates and patches will keep your cyber security up-to-date so that you’re not susceptible to attacks.

Manage Your Cyber Security Threats

Taking care of your cyber security threats will help you keep your business at its absolute best. These issues are here to stay and will only become more prevalent as time goes on. Do your due diligence and put your faith in professionals that can assist you.

Having insurance for cyber security and data breaches is one of the best things that you can invest in today. Let NorthEast Insurance Services help you out with what you need. Use our form to request a quote or call us at 732.972.1771.