As technology continues to evolve and we continue to integrate it into our everyday operations in every form possible, it boosts our productivity through the roof. Unfortunately, great things usually come with some risks, and for technology, cyber threats are that risk.
Studies have shown that at least 60 percent of companies that experience cyberattacks fail within six months. Being that said this is no small risk this is a potentially large liability for your business and it is important you stay in the know on what cyber threats you will face most often, so you can be prepared for when they come knocking on your door.
Phishing happens when a hacker tricks someone into opening an email or text message. The victim is usually sent a link to open. Clicking the link causes the system to freeze, revealing sensitive information. Malware can also be installed at this time. It’s often used in an attempt to steal credit card numbers or login information.
Phishing can be used to attack government or corporate networks. Employees are compromised so the hacker can gain access to the system. It can also be used to steal information from a small to mid-sized businesses, as often their security isn’t as tight. According to Verizon Data Breach Investigations Report, 70% of cyber attacks use a combination of phishing and hacking making phishing attacks the top most common cyber threat.
Malware is a code written to compromise a system without user consent. Different types of malware, including ransomware, control, command, and spyware are often used in cyberattacks. It spreads across vulnerable networks, causing changes and damage, and it can remain undetected if the system is not monitored. Malware can easily destroy an infected network.
These breaches allow an attacker to listen to communications between two parties. Attackers listen to conversations between two entities having a legitimate conversation. By intercepting the public key message transmission, changing out the requested key with the hackers key, and retransmitting the message, the attacker can steal information they should not have access to. The legit parties have no idea the attacker has modified the key and ultimately controls the whole communication.
SQL injection employs malicious code that ultimately manipulates backend databases, giving access to sensitive company data, customer details, and user lists. SQL injection attacks can delete entire tables, view user lists, and even give the attacker access to administrative databases. This can have a devastating effect on small to mid-sized businesses and quickly cause distrust from your customers. These attacks often target websites but can hit SQL databases as well. Monitoring your networks consistently can help protect against these cyber threats.
Distributed denial-of-service attack
These attacks look to shut down your network, causing it to be inaccessible to your customers and employees. It overwhelms the network with traffic and floods it with information, causing it to crash.
Distributed denial-of-service (DDoS) attacks target web servers of high-profile companies like media, e-commerce, and banking. These attacks in and of themselves don’t result in the loss of information, but they can be used to distract from other attacks, as they take time and money to investigate.
Password attacks attempt to obtain a user’s password. They often use computer algorithms to continuously try to guess the password. The computer will just keep trying different combinations until it figures it out. Once it does, the hacker has access to all of your data. The best defense for this attack is frequently changing your passwords and having perimeters for employees to use when setting their passwords.
See how you can protect yourself
Now that we have gone over the most common threats that your business is likely to face, you might be shaking in your boots a bit, but there is nothing to fear if you partner with a managed security provider. Managed IT handles an array of IT problems but there is no doubt that one of their most important duties is keeping their business partners safe and secure. Contact us today and feel protected against cyber threats.