Article provided by Sword SA
Cyber security has proven to be a necessary addition to the smooth functioning of any business. There are various motivations for its implementation in any business such as the prevention of various unprecedented threats.
These unprecedented threats have the potential to not only affect business operations, but also ruin relationships that business owners work hard to create and foster. It is important to note that they are always evolving. The common ones to date are listed below:
Phishing
This is done through deceptive attempts to obtain sensitive information, often through emails, or fake websites set up by attackers that look legitimate, masquerading as legitimate entities. An example of this could be an email concerning account deactivation which tells the potential victim that their account has been compromised and will be deactivated unless they confirm their credit card details. Other common phishing emails include fake invoice scams, Google Doc scams, PayPal scams, and emails supposedly coming from the HR department, among others. It can be as simple as an employee clicking on a link from a dangerous source without realising it and ultimately compromising the entire business network in the process.
Ransomware
This is a type of malware that encrypts files and demands a ransom for their release. This can hamper your business by putting a stop to business operations indefinitely, until the ransom has been paid. Who is to say that this payment will be the first and last? This could become an unnecessary and continuous cycle of financial loss involving paying the ransom, the many that could follow in the future, in addition to the introduction of software that could help prevent this. In addition to this, the business’ sensitive information could get into the wrong hands, not solely information needed for the business to run, but important information intended solely for internal purposes. This could be very dangerous and fatal for the life of the business.
Zero-day exploits
These are attacks that occur on the same day as when the threat is discovered or when the business systems have been compromised and this has not yet been detected. Here, attackers leave businesses with no time for software vendors to close the gap before any damage is done. Not only do they create the situation, but they also take advantage of it by exploiting software vulnerabilities.
Denial-of-Service (DoS) attacks
These attacks overwhelm a system with traffic; thus, rendering it unavailable to users. This can be incredibly frustrating to regular clients, as well as potential clients and can result in the loss of sales or trusted clientele.
Man-in-the-middle (MitM) attacks
This method includes an attacker intercepting communication between two parties for the purpose of stealing or manipulating information. This can prove quite harmful to the business due to the implications of having important information leaked and used for various purposes outside of its own practice.
Social engineering
This threat involves manipulating members of an organisation into divulging confidential information about the business or organisation. Examples include the use of psychological tricks; this also happens to be the method used most often. It is similar to Man-in-the-middle attacks but is more targeted. Whether one is more dangerous than the other, or if they are equally dangerous, is still up for debate.
Insider threats
Employees with access to sensitive information may compromise the business intentionally, or unintentionally. As a business owner, although you may trust your employees, it is always safer to take precautions in the case of such events.
As a way of mitigating these threats, the implementation of comprehensive security policies can really go a long way and save the business from unprecedented danger or threats. Staying informed on the latest technologies used to steal data, disrupt operations, or even gain unauthorised access in the implementation of robust cyber security measures is essential in mitigating these threats.