Additionally, those who haven’t changed over to a secure URL yet should really do so. “While the risk of a DDoS attack can never be eliminated, businesses can potentially reduce the severity of an attack by being well prepared,” says Sarah Lyons. According to a recent report, there are around 400 phishing attacksevery day, and nearly 30 percent of them are successful. Top 5 Current Cyber Threats … We’ve all heard about them, and we all have our fears. Emails can contain links which, once clicked, release ransomware into your computer and into the broader network. Security threats looming in the future should cause businesses to re-evaluate their software and ensure they plan ahead for future implementations to amplify safety. The NCSC provides a basic DDoS attack response plan online for all businesses to use. It should also outline what responsibilities lie with the employee and what responsibilities lie with the employer, such as repairs. The ultimate goal by implementing a risk based approach is to execute a number is security controls that mitigate risk to an acceptable level and give clients, regulators, and audits assurance that i… As a quick addendum to this point, we should mention virtual private networks (VPNs). 5 ways your business can reinforce homeworking cybersecurity, Bonhill Group plc, Just look at Target, Home Depot and TJ Maxx. “Cybercriminals have unfortunately, but inevitably, taken the opportunity to capitalise on weakened businesses, remote workers, and flooded services. Previously discovered vulnerabilities may not be patched in older versions of software.”. Related: Here's How to Build a Strong Security Team to Keep Your Company Safe and Sound. To help small- and midsize-businesses stay protected, we asked tech experts what the biggest security risk these companies face and how they can defend against them. Government statistics from 2020 show that 46 per cent of firms have reported cyber security breaches in the past 12 months. A common misconception for small businesses is an idea of security through obscurity, that your business is too small to be a target, but unfortunately, this is not the case. Even if you have a dedicated security team, a second set of eyeballs will help identify risks and start working towards remediation. People remain the biggest security risk to any sized organization, including SMBs. 8 mobile security threats you should take seriously in 2020 Mobile malware? Protecting your small business against these security threats can help you maintain your credibility and keep you from falling into despair and bankruptcy in the future. The Types of Cybersecurity Threats That Businesses Face. It is generally a lot more expensive to clean up after a security breach, than addressing it proactively. There is a lot of security equipment and smart security products that will do a very good job of keeping people out and reducing the threat. Employees (and former employees) can be significant cyber security threats when they think they have something to gain through their malicious actions — perhaps they want to profit by selling or using the data they steal, or they may want to get revenge against an existing or former employer for some perceived injustice. Here are a few online security threats your business is likely to face in 2018. Misconfiguration will drive a majority of the incidents according to the Sophos 2020 Threat Report . Corporate securityidentifies and effectively mitigates or manages, at an early stage, any developments that may threaten the resilience and continued survival of a corporation. Reduce the chances of this happening by having specific accounts for people with privileges and ensuring that you remove employees from your network when they leave the company. Alternatively, some computers have auto back-up features – these will back up your data little and often, which is the best approach to take. In a more general sense, malware is classed as an unwanted action to the victim which will benefit the criminal. Spear phishing is when a targeted email comes through which looks like it’s from someone that you know. Education will help safeguard your cyber security strategy. From internal theft, attacks on physical business systems to vandalism and assault, the threats that businesses face are real. -- Cortney Thompson, Chief Technology Officer of Green House Data, an environmentally conscious data center service. Phishing scams. Mobile security threats continue to plague businesses . There are a number of third-party security services, many of them are SaaS based, that don’t require investments in hardware and are generally easier to deploy. Stay informed and join our daily newsletter now! Internet security threats are on the rise. Other risks on businesses’ radars include medical cost inflation, increasing employee benefit costs and a changing workforce. What’s more, the disruption to businesses around the world has left many companies struggling to maintain security and business continuity, after a string of budget cuts and lost profits. Without one, hackers could be watching the transfer of sensitive data. No business is completely safe from security vulnerabilities. Here's How to Build a Strong Security Team to Keep Your Company Safe and Sound, 7 Cybersecurity Layers Every Entrepreneur Needs to Understand, Why Small-Business Entrepreneurs Should Care About Cybersecurity, Ultimate Guide to Pay-Per-Click Advertising, Ultimate Guide to Optimizing Your Website, Outcome-Based Marketing: New Rules for Marketing on the Web, These VPNs Have Great Reviews and Are on Sale for Cyber Monday, Give Your Business Elite Cybersecurity with this Highly Rated VPN and Password Manager, How Working From Home Makes Businesses Easy Targets for Cybercriminals. You can back up data on an external hard drive. Having a solid BYOD policy reduces the vulnerabilities associated with staff using their own devices such as data loss. For example, the link contained within a spear phishing email could contain malware. Any of these cyber security attacks could be detrimental to your business. If you’re not a larger company that can afford to build tools in-house to ensure employee data stays secure, there are still ways to stay alert and make sure your data remains private. Information Security. Assess the security measures you have in place and upgrade equipment like locks 4. The way this harm looks can vary, so we should take a moment to address the most common types of cybersecurity threats that businesses need to watch for, whether they are attacks coming from the … Get heaping discounts to books you love delivered straight to your inbox. Related: Why Small-Business Entrepreneurs Should Care About Cybersecurity. How Safe Is Your Data While Working Remotely? -- Arne Josefsberg, Chief Information Officer of GoDaddy, an Internet domain registrar and web hosting company. Cyber security breaches are threats to businesses of any size, but more developed businesses risk losing a greater proportion of the growth they’ve worked so hard to build. Malware is mainly the Trojans and viruses employed to cripple a system and are designed to steal information from it. For businesses to minimize their risk of a data security breach, they need to be constantly vigilant of the different types of cyber security threats … To proactively combat against threats and adversaries, companies must take an active role in identifying those risks that could have a devastating impact on operating a successful business. There’s a chance that ex-employees might, knowingly or not, compromise your cyber security, especially if they have access to your networks. Cloud Jacking is likely to emerge as one of the most prominent cybersecurity threats in 2020 due to the increasing reliance of businesses on cloud computing. Social media is a great example of a technology and business advancement that has brought businesses closer to customers and clients while also increasing business risk. Knowing what steps to take to negate the effects of any security threats is critical. Burglary “Businesses should ensure that they’re using the most up-to-date versions of software to protect themselves from this. “A clear process for reporting suspected phishing emails internally should be carried over from the office into a remote working setting,” says Sarah Lyons, deputy director for economy and society engagement at the National Cyber Security Centre (NCSC). Business needs to be smart about balancing in-house security resources and building a strong team, while also leveraging third-party security services. Top 6 Threats to Small Business Data Security by Sean Curiel , on Apr 30, 2018 2:36:28 PM As National Small Business Week takes place (April 29 – May 5) it serves as a welcome reminder of the obstacles that small businesses must overcome to not only survive, but to grow and flourish. But there are a number of things you can do to protect your company’s cyber security – and you needn’t do them all at once. Website visitors will be able to see a keypad on the browser bar, but be warned that these have been replicated by scammers in the past to make a fake site look trustworthy. This is where SMBs need to focus: on the protection of their data. Hackers will try to make a machine or network inaccessible to its primary users. These threats can come in the form of phishing and malware that seek to infiltrate the corporate network, endpoints and the cloud applications employees use. As a result of the negative issues of security threats to businesses, many companies today are adopting a corporate security strategy. Phishing attacks leave staff vulnerable to sensitive data being stolen, often through email. This should lay out everything from confirming that an attack is happening to monitoring and recovery.”. For everyday Internet users, computer viruses are one of the most common threats to cybersecurity. Phishing and spear-phishing scams are one of the most common methods of breaching security to obtain sensitive information, such as usernames, account passwords and credit card information. Antivirus technology and a reliable firewall are key in fighting these menaces. From 2010 to 2020, roughly four billion business records were stolen in the UK, according to figures from bulletproof.co.uk. Alternatively, you can get one from Google if you use certain Google or partner products. Many companies don’t take security seriously enough until something bad happens. Many security issues are easily controlled by putting the appropriate measures in place. Security training for all employees really should start on day one.The other large issue I see is organizations maintaining a legacy security posture, or original security plan. As employees engage in sales and networking across social networks, new pathways into the business open up and cyber criminals know how to exploit them. Allowing automatic updates is best as bugs can be fixed in the background while you and your staff work. One of the most effective actions businesses can take to reduce the risks that come from our interconnected marketplace is to provide knowledge. Computer virus. The best defense is ensuring that staff get consistent education to keep security at the top of mind. Those whose business offering is predominantly based online are the most vulnerable. Government statistics from 2020 show that 46 per cent of firms have reported cyber security breaches in the past 12 months. This includes sensitive information such as user IDs and passwords. It can protect your workstations from harmful spyware. Even if your strategy is not as comprehensive (or expensive) as those in place at a federal agency or a massive corporation, building roadblocks on the way to exposed plaintext information is a necessary tactic to discourage hackers. To mitigate against these threats: -- Pravin Kothari, founder and CEO of CipherCloud, an enterprise cloud security company, Related: 7 Cybersecurity Layers Every Entrepreneur Needs to Understand. -- Anna Frazzetto, Chief Digital Technology Officer and SVP at Harvey Nash, an IT recruiting firm. Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. Unsecured devices could be carrying any number of viruses. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Data Security. 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