7 Cyber Security Threats Confronting Businesses Today and How to Protect Your Company

7 Cyber Security Threats Confronting Businesses Today and How to Protect Your Company

A recent Cyber Readiness Report from Hiscox revealed that 7 out of 10 businesses failed in their cyber-readiness test. One of the major reasons for these failures was the inability to adapt to new threats. Take a look at the top 7 cyber security threats this year and what you can do to protect your company.

Top 7 cyber security threats to watch for.

While there will always be new threats evolving, it’s important to stay abreast of the most recent threats. Here is a list of the top seven threats we’ve found that are impacting businesses today.

1. Crypto-Malware:

This type of malware was developed by engineers to mine crypto currency using the processing power of other peoples computers. It isn’t directly harmful for the computers but, can be disruptive because it takes the computer’s processing power over so it can be used to gather more crypto currency.

2. Banking malware:

Banking malware was created to gather financial information from users in order to sell it to other hackers or use it to steal money. This type of malware is extremely dangerous because it often works in the background gathering information undetected by the user. A new strand of banking malware known as Emotet, is especially difficult because it is able to change or adapt avoiding detection and it replicates itself too.

3. Ransomware:

Everyone has heard of ransomware attacks and it has been on the rise for years. Today, it has become a more notable threat for businesses because of its ability to lock down a computer until a ransom is paid. This disabling infection can be terribly disruptive for businesses. I am sure you’ve heard of Cryptolocker? This nasty strain infected over 200,000 computers and claimed over $3 million.

4. Fileless malware:

If you’ve never heard this term, let me explain. It is truly a pain. Fileless malware is just what it sounds like. There are no real files to look for because they do not exist within a hard drive. These attacks latch on to the RAM in a computer and only become visible when programmers activate it to retrieve information. This type of infection is what hackers use to scam people through ATMs and payment terminals.

5. Zero-day threats:

We all use software everyday. I am using software right now to write this newsletter and you have probably used at least three pieces of software today too. However, software is not perfect. There are always security holes that developers work diligently to fix or patch, but some hackers make it their goal to find such vulnerabilities and attack them. These vulnerabilities are called a zero-day threats. Once hackers identify a zero-day threat, they exploit the security loophole using it to deliver ransomware files and other infections to the computers.

6. Phishing e-mail:

Some of you may have fist hand experience with this one. No company is safe from phishing scams these days. To some degree phishing e-mails are targeting people who don’t pay attention, but these nasty scams can lead to ransomware or trojan horse virus outbreaks within your network. McAfee reported that 97% of people really cannot tell the difference between a phishing e-mail and a legitimate message.

7. Advanced persistent threats (APTs):

These types of threats are premeditated infections. Cybercriminals who use APTs have generally watched and gathered information about their target for some time before infiltrating the network. The scary thing about APTs is that the infection can go on for years without the victim even knowing. Once the attackers have gathered enough information to dig into the network of choice, they work on capturing information and transmitting it back to their own servers.

How can I protect my company?

I know this is a lot to take in. Honestly, there is no surefire way to be 100% protected these days. The good news is, there are a few key steps you can take to proactively prevent these malicious attacks. First off, be aware and inform your staff of the variety of threats that are hot today. The more educated you are about the possible issues, the more capable you will be in identifying them. Secondly, be sure you have e-mail filtering, antivirus and malware solutions in place. Install a firewall to help filter content and be sure your backups are working.

Worried about protecting your company?

If you have any concerns at all. Give us a call. We will come onsite and conduct a FREE Network Security Audit to help you get a good picture of your current structure. After the audit, we will also provide our best recommendations to help you proactively manage these scary cyber security threats.