Security risks are just as vulnerable for small businesses as they are for large enterprises. As the attacking attempts are automated, targeting hundreds of businesses in a single go has become easier than ever. Since small businesses sometimes have less powerful technological defenses and minimal resources to utilize in cybersecurity.
Even a small business can have access to large volumes of data, so they are no less lucrative targets. The article elaborates on the most common security threats and what measures organizations can take to protect themselves.
#1. Phishing Attacks
One of the most widespread and most damaging threats that IT businesses are facing today is phishing attacks. Phishing has a plethora of negative effects, including loss of intellectual property, disturbance in operational activities, financial loss, loss of reputation, and many more.
Sometimes, companies have to experience irreparable repercussions that impact the company’s value in the long run. Phishing attacks are of different types that include email phishing, clone phishing, spear phishing, domain spoofing, SMS phishing, voice phishing, watering hole phishing, and pharming.
#2. Spyware Attacks
Spyware is malicious software designed to download in the computer system without the end user’s knowledge. On entering the device, it starts stealing the sensitive information and relays it to the data firms, external users, and advertisers. Once installed, the spyware program monitors the internet logs and tracks down the login credentials, credit card details, and banking information.
To prevent spyware, businesses must continuously invest in paid software licenses and carefully read all disclosures while downloading the software. It is essential to install anti-spyware and antivirus applications from trusted sources. For detailed information on how to remove spyware from a computer, check out https://setapp.com/how-to/spyware-removal-guide
#3. Cloud Vulnerabilities
Businesses and individuals are moving to the Cloud to revolutionize digital transformation and unveil broader technology enhancements. Though cloud computing brings along plenty of benefits, such as data storage and restoration, it also puts data at stake by exposing it to a wide range of cyberattacks. These threats include but are not limited to account hijacking and Denial of Services (DoS).
Businesses can prevent Cloud security threats by encouraging developers to design APIs using strong authentication algorithms, activity monitoring protocol, access control, and encryption. Consider using TLS/SSL for protecting data-in-transit and implement multi-factor authentication such as digital identities for better protection.
#4. IoT Security Risks
IoT (Internet of Things) devices and endpoints enable businesses to gather tons of data across multiple sources; it also poses threats to business security. These devices include routers, smartwatches, webcams, medical devices, household appliances, and even office security equipment.
It is important that the data gathered and circulated within the business IoT system must be mapped appropriately. All the devices must be configured using strong security algorithms and protocols to prevent tampering across various touchpoints. Not all devices are designed considering enterprise IoT security, so it is important to keep in mind all relevant factors while IoT planning and implementation.
#5. BYOD Policies
BYOD (Bring Your Own Device) policies are designed to allow employees to use their personal devices at the office for accomplishing work-related tasks and processes. By giving your employees the flexibility to use their own devices at work, you offer them increased convenience, which often results in improved performance and better productivity.
Though it reduces equipment cost but also exposes businesses to cybersecurity threats as the organization has no control over the device usage. Make sure that your organization has a well-developed BYOD policy in place and train your employees on cyber threats and how to deal with them efficiently if something bad happens.
How to Protect Your Business From Security Threats?
Cybersecurity threats are not declining; in fact, they are becoming more complex. Businesses must take appropriate actions to safeguard their computer systems from external and internal data risks. It is imperative to protect data and networks by adopting proper security measures such as BYOD policies implementation, following appropriate firewalls guidelines, establishing cybersecurity governance.
It is important to acknowledge that not all security threats are caused due to software applications; some are the byproduct of outdated hardware. As the hardware gets older, it does not support security updates and no longer receives security patches from the developer, which results in risks to company data. So, keep a consistent check on software programs and hardware applications for timely upgrades.
Sometimes computer security attacks occur due to human errors or interventions and result in data disruption. These attempts are often referred to as social engineering attacks.
In the majority of cases, the attackers pose as colleagues and ask the employees for access to a document or other sensitive data.
These threats can be avoided by asking for the personal or professional IDs of the hackers before giving them access.