The Top Cybersecurity Threats to Your Business
Technology has become an essential part of life. It makes it seamless to achieve more with less in every aspect of life, including business. However, since there are two sides to every coin, technology has its drawbacks.
Businesses of all sizes, across all industries, are at risk of the dangers of cybersecurity threats. Many businesses experience various cyberattacks, from data breaches, unauthorized access to financial accounts to digital impersonations. Online predators constantly advance their tactics as cybersecurity evolves, meaning even the most established corporations are at risk of online threats.
So, it’s best to be informed of these threats as you work on addressing your vulnerabilities and strengthening your defenses.
Top Cybersecurity Threats
Ransomware attacks are among the prevalent cybersecurity threats, crippling a great number of businesses every day. As the name suggests, the threat works by a cybercriminal encrypting your data and holding it hostage until you pay a certain amount. Ransomware has become more widespread in the recent past mostly because attackers consider it one of the most lucrative forms of attacks. While ransomware remains a threat to businesses of all sizes, 82% of small businesses are at a greater risk.
Phishing is a common and the most popular form of a cyberattack affecting thousands of business enterprises. It is responsible for 90% of all breaches, and it’s becoming more widespread and sophisticated. The attack involves tricking users into providing personal information by sending emails appearing to be from a trusted source. In phishing, an actor will pretend to be a trusted contact and entice you to click a malicious link, download a malicious file, or even provide them access to sensitive information.
Threats posed by members of an organization, or insider threats, is a cybersecurity threat caused by actions of employees, former employees, contractors, or business associates. Essentially, insider threats come from users who have access to your assets and abuse such access intentionally or accidentally. Internal breaches cost businesses $11.45 million, with 63% linked to negligence. Whether deliberate or accidental, insiders can compromise or expose your trade secrets, financial data, customer information, money, and intellectual property.
The social engineering threat occurs when a hacker tricks someone into giving them sensitive information through various means, including pretending to be someone else or posing as a representative of the organization. It relies on human and/or social interaction and bots entering the computer. Since humans are susceptible to trickery and social media is becoming even more popular, social engineering remains a huge risk for businesses.
Although not common, cloud jacking is an emerging but serious cybersecurity risk expected to impact thousands of businesses as cloud computing becomes more expansive. A third party infiltrates a business’s cloud computing in this attack. For instance, when a hacker accesses your company’s cloud, they can try to reconfigure the cloud code to manipulate sensitive data, eavesdrop on your communications, monitor employees and customers, and attempt to control the entire cloud. Cloud jacking is a serious threat since 83% of a typical company’s workload is cloud-based.
Protect Your Business with Thinline Tech
Cybersecurity is paramount to the survival and growth of your business. However, staying updated on the latest security threats and cybersecurity trends, identifying security vulnerabilities, prioritizing your business’s risks, and addressing emerging threats sounds like a full-time job that can shift your attention from the core activities of your business. Fortunately for you, with Thinline Tech, you won’t have to worry about your cybersecurity.
We’re an established IT service company specialized in cybersecurity, cloud solutions, IT support, business continuity, and managed service. We can help your business develop a strong defense against various security threats.
Check our service page or call 410-453-9300 for more information.