Release: 08.24.22 | SME: Stephanie Davis [Rynoh Director of Product]

Cyber security should be at the forefront of your business’ mind, especially now. If you don’t take a close look at your cyber security, you might not realize that there’s even a problem until it becomes too severe. The FBI’s Internet Crime Report reveals that reported losses from cybercrime was over $6.9 billion in 2021 alone—and the numbers are only increasing. Unfortunately, cybercriminals don’t discriminate against their targets and have previously targetted small businesses just as frequently as large companies. Here are the five most common cybersecurity threats, so you can shields yourself and your organization from them.

  1. Viruses and other forms of malware are a major concern. Malicious software, also known as harmful software, is computer software that is designed to damage your computer, server, or network. This includes viruses, which are programs intended to propagate from computer to computer that change the way your PC works. Viruses have the ability to do irreparable harm.:
  • Corrupt or destroy data
  • Steal passwords or data
  • Log keystrokes
  • Spam email contacts
  • Take over your computer
  • Damage your hard drive2. Phishing. Phishing is a form of cybercrime that combines email and social engineering to deceive people. Phishing emails often seem to come from a known company or individual, allowing the receiver to be fooled into clicking on a link or opening an attachment that installs harmful software onto their computer. Once this code is executed, the system may be compromised by malware. Phishing frauds have evolved beyond email and can now occur as text messages.
    3. Endpoint Attacks. With many resources living in the Cloud and workstations being spread out for remote working, hackers have more possible targets for an attack. In endpoint attacks, hackers may infiltrate a personal device (such as a laptop, desktop, tablet or mobile phone) and use it to steal information from your organization. If your business has a “bring your own device” policy in place, requiring these devices to meet security standards before allowing network access can help prevent endpoint attacks.

    4. Ransomware. Ransomware is a type of malware that has its own category because it is so harmful. It takes control of your computer and encrypts your data, preventing you from accessing it until a ransom is paid. Ransomware incidents are on the rise across the world, with significant consequences for the title business, such as the ransomware assault that halted Baltimore’s closing in 2019 and caused job losses. Ransomware can be spread by phishing emails or infected websites, so avoid clicking on strange links in texts or spam..

    5. Patch Management. Hackers are constantly trying to find ways to exploit software and hardware vulnerabilities to gain access to confidential information. When product manufacturers become aware of these potential risks, they often release patches that users can install to address the issue. Although installing these patches is crucial for safeguarding businesses from cybersecurity threats, many users ignore them or IT teams fail to prioritize them. If your organization fails to keep its technology updated with the latest security patches, it remains vulnerable to known cyberthreats.

Taking proactive measures like the ones listed below can help you avoid becoming a cyber victim.

  • Train your employees: Teach your staff how to recognize phishing emails and texts, avoid suspicious downloads, safeguard sensitive data, and create strong passwords.
  • Secure your networks: Keep your information private by using a firewall, encryption, and secure wi-fi network.
  • Require strong passwords: To better your cybersecurity, create passwords with more than 10 characters that are a mix of upper and lowercase letters, numbers, and symbols.
  • Use multifactor authentication: To prevent unauthorized access, you’ll need to verify your identity with a security code that will be sent to your phone.
  • Invest in a cybersecurity team: One of the most effective ways to safeguard your business is to engage the services of a professional. Finding and keeping workers committed to safeguarding your company’s digital security is a significant first step toward long-term cybersecurity.