Business Data Security Threats and How to Protect Yourself Against Them

Business Data Security Threats and How to Protect Yourself Against Them

These days the majority of businesses have taken up an online platform too. Of course, it is an excellent marketing strategy; however, it also raises the risk levels. Cybersecurity is a serious challenge for businesses and organizations all over the globe. Without solid security measures in place, your company could face severe threats to its data, client information, and, as a result, the company’s reputation.

We have consulted with cybersecurity experts to put together the top threats your organization could face and the best strategies to protect yourself against them.

Phishing Attacks

“A hacker poses as someone you trust, such as your boss or your bank, in a phishing attack. The hacker usually sends you emails using a familiar but slightly altered email address. Typically, the hacker will send you an email with a link or file. They ask you to visit a website, log into your account, or provide personal information like your Social Security number or bank account number.

“Cybercriminals have been able to construct phishing schemes using cloud applications this year. Cloud-based phishing is one of the top cybercrimes that enterprises should be on the lookout for in 2021, owing to the crime’s relative newness and the implicit faith that employees have in their companies.”

Michael Robinson, Security Expert of Cheap SSL Security

Deepfakes

“Over the last few years, deepfakes have been increasingly employed against a variety of people and businesses. Artificial intelligence creates a deepfake by manipulating someone’s picture or voice in an existing video, photo, or audio recording to falsify their actions or utterances. Deepfakes have even been used in politics to make candidates appear to say or do something damaging to their reputation. 

“Deepfakes will be used by cybercriminals to imitate members of a firm to obtain access to sensitive information. Hackers can use these synthetic identities to commit fraud by creating fake copies of actual firms to entice unwary customers. Deepfakes can also help with more complicated phishing schemes, allowing hackers to more convincingly impersonate CEOs and give staff damaging orders.”

Ryan Dalal, CEO & Founder of Merge PDF

API Vulnerabilities and Breaches

“An application programming interface (API) serves as a link between programs. It controls how apps can communicate with one another. APIs are used behind the scenes in a wide range of applications, including streaming services, social media, weather apps, and instant messaging. API security is often less sophisticated than that of web apps. This is true for the vast majority of businesses. 

“As a result, APIs are frequently unavailable to the general public or third-party developers. Because so many businesses are relying on APIs, assaults on these systems, as well as the demand for API security, are expected to rise this year.”

Jacob Villa, Co-Founder and Marketing Director School Authority

24/7 Network Monitoring

“Don’t take a back seat on protecting your data from ransomware. Instead, be proactive by preventing cyberattacks before they happen. This can be done by monitoring your network for potential threats and vulnerabilities 24/7. Look for any devices connected to your network that shouldn’t be there or that you don’t recognize.” (Ron Harris)

Device Updates

“Ensure all supported devices receive their necessary updates. Even updates on applications such as Microsoft Word, Adobe applications, and updates to your operating system. Hackers will find any way to get in and many times; it’s up to the user to update their apps if the vendor does not. So accidentally missing an update is a very easy way for hackers to get in. And you don’t want to make it any easier for them by letting an update pass you by.” (Ron Harris)

Cyber-Hygiene

“Using great cyber-hygiene practices throughout your organization is another proactive way to prevent ransomware attacks before they happen. Such as enabling two-factor authentication for all accounts and devices, changing passwords quarterly, not using the same passwords for work and personal accounts, and educating your staff on cyber-hygiene.”

Ron Harris, Vice President of Omega Computer Services

Layered Approach to Cybersecurity

“Cyber-attacks are evolving to become more advanced and dangerous. Consequently, IT staff struggle to protect their business from the latest cyber threats. It’s important for businesses to take a layered approach to cybersecurity in order to successfully prevent a cyber-attack. This includes your basic network security (MFA, software updates, back-ups), perimeter protection (firewall, email & web filtering), and prevention security (penetration tests, SSL inspections, endpoint antivirus). 

“While these measures are good in preventing a cyber-attack, they don’t work if a threat is already in your network. That’s why it’s necessary to include proactive measures to your cybersecurity strategy. For example, investing in Managed Detection & Response, Incident Management, Managed Risk & Vulnerability Management. Utilizing these tools will aid businesses to detect, contain and remediate threats before any data is exploited. Finally, having a disaster recovery plan is essential in the event of a cyber-attack.”

Security Expert, Silverbug Ltd

Incident Report Strategy

“Data breaches are the most significant cyber threats, alongside common scams such as phishing, ransomware and supply chain compromise. You need to have a plan about how to protect your data and resources. Having an incident report strategy ensures you’ll be a step ahead. Proactive protection for your business is essential too.” (Isobel Walster)

Firewall and Anti-Spam

“Naturally, all PCs and networks should be protected against malware. Use a firewall as your first line of defense, use anti-spam software to keep your emails clean and safeguard passwords using a password manager (such as LastPass).

“But having all the right software won’t help you if your employees don’t understand the company security policy. Cybersafety should be a part of your company culture, with training as part of on-boarding and bi-annual refresher courses to ensure everyone is up to date.”

Charles Griffiths, Head of IT and Operations at AAG-IT.com

Patching and Updating

“Ransomware is a crime with many factors and endless variables. The effect it can have on an organization may depend on the indicator of compromise, the scope of the attack, the industry of the organization, and countless other factors. Despite how varied this crime can be carried out, we know that threat actors are opportunistic. Many cybercriminals deploying ransomware these days are simply scanning the public internet looking for entries into private networks. 

“When it comes to externally facing devices, I recommend eliminating as many security risks as possible through constant patching and updating of legacy systems. This is extremely important, as having vulnerable externally facing devices are among the most common ways threat actors can gain a foothold in your network. Threat actors hardly ever need to reinvent the wheel. 

“When it comes to externally facing devices, there are countless known vulnerabilities that attackers can successfully exploit against legacy tools. When updates are prompted on your tools, they often provide patches to these known vulnerabilities that attackers can successfully exploit against legacy tools.”

Michael Kapono, Digital Manager for Tetra Defense

Coleen Cotto
Writer Coleen is one of our geeks when it comes to online security- whether digital assets, personal data and other topic involving technological information.