Cyber Security
October 14, 2020

Top Five Cybersecurity Risks to Businesses

The risk of cyber-attacks is a growing concern and the threats are becoming more advanced and sophisticated. Just as technology is advancing, so are the methods used by hackers wanting to gain vital corporate information.

The risk of cyber-attacks is a growing concern and the threats are becoming more advanced and sophisticated. Just as technology is advancing, so are the methods used by hackers wanting to gain vital corporate information. Here we look at some of the most common cybersecurity threats that companies currently need to consider to protect their reputation, assets and business as a whole.

  1. Insider Threats
    The first place to check is your own company! Are your systems and software kept regularly updated, applying manufacturer patches as soon as they are released? Doing so ensures your defences are up-to-date and help maintain your security. Another risk is from anyone with access to your IT systems, including employees and contractors. They can cause data breaches by mistakes, such as falling victim to a cyber-attack or using weak passwords, or for malicious reasons such as revenge or monetary gain. Ensuring strong firewalls and antivirus protection as well as limiting what employees have access to can limit this risk. If possible, the use of a cyber security company can monitor and quickly remedy any issues as soon as they arise.
  2. Phishing
    Phishing is frequently used as a cheap and easy way to gain information from targets. Phishing emails are becoming increasingly advanced and often appear legitimate from a trusted source. But they deliver malware onto your system, allowing hackers access to your information. Simple measures such as spam filters and anti-malware software can reduce your risk. Ensure employees are wary of unexpected emails requesting sensitive information (which companies will generally never ask for in this way). Logging into the company that has contacted you directly rather than following links sent to you can also reduce the threat.
  3. Internet of Things (IoT)
    IoT is used to connect devices (security systems, cars, electronic appliances and lights, vending machines and thermostats) to make homes and workplaces run more “intelligently” without a human being physically present. However, these devices can be especially vulnerable to cyber-attacks, often due to lack of security in relation to the device or related system. Ensuring strong security around both the devices and related networks is vital to protecting your data.
  4. Ransomware and Malware Attacks
    Malware can infiltrate a company’s IT system in many ways and can also change their specific coding resulting in an attack that is even more targeted. Ransomware expands on this and uses the malware to hold your system hostage until a ransom is paid. Again, ensure your systems are up to date with a strong antivirus and anti-malware package. Check your spam filters and security measures and make sure staff are adequately trained on recognising suspicious emails and communications.  
  5. Remote working
    The current economic climate surrounding Covid-19 has resulted in many companies using home working technology to allow their business to continue to function. However, this increases the risk of cyber threats and scams, especially since during a crisis people are more likely to make mistakes that weaken their security levels. Hackers are taking advantage of this. Businesses have to be responsive and their employees need to be equipped with the necessary security software and protected company IT equipment. Staff may also require training to adapt to this changing situation and companies should tighten up remote access procedures to prevent data breaches.

These are just some of the online risks facing businesses. For advice on avoiding cybersecurity threats either now or in the future, please call us to find out more or drop us an email. We would be delighted to help you avoid any more business interruptions.

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