“One single vulnerability is all a scammer needs to commit a cyberattack.”
Phishing, identity thefts, and cyberstalking – there’s no denying the fact that the cyberattack cases are skyrocketing. The digital transformation has made companies severely face illicit activities and calls for safeguarding them by using cyber security services.
Cutting to the chase, there are a lot of opportunities for criminals to commit a scam. With cybercrimes being at an all-time high, it causes havoc to companies. There are several types of cyberattacks out there, from ransomware to phishing, which could cost you billions of dollars annually.
Consider this to crack ‘what,’ ‘why,’ and ‘how’ factors of cyberattacks and ways to prevent them.
What is a Cyberattack?
A cyberattack is a malicious attempt by an individual or organization to steal, expose, alter, disable or destroy information through unauthorized access to computer systems. It is to breach the victim’s system to attain some type of benefit. A scammer might do so to access a user’s sensitive personal information, confidential business data, clients list, intellectual property and more.
A cyberattack could lead to huge losses caused by sensitive data being stolen, which can cost the company liquidation. Hackers can commit a cybercrime if they spot any vulnerabilities in a computer system’s security such as finding faulty website code and later, affecting security or authentication process.
What are the Different Types of Cyberattacks?
No matter how many years it took to build your business, a single cyberattack is enough to ruin it all. The most common cyberattacks are:
Malware: It is a term used to describe malicious software including spyware, ransomware, and viruses. It breaches a network through any vulnerability and often blocks access to the network.
Phishing: The fraudulent act of sending emails purporting as a reputable entity to dupe a victim and steal user data such as passwords and credit card numbers. Phishing in cyber security is commonly performed by sending malicious links or attachments to trick a victim or to install malicious software like ransomware on the victim’s system.
Man-in-the-middle attack (MitM): Aman-in-the-middle attack occurs when a perpetrator places himself amid a two-party transaction. It is committed either by eavesdropping or by impersonating parties involved in a financial transaction. Targets are usually the users of financial applications, SaaS businesses, and e-commerce sites where logging in is required. This might be undertaken to commit identity theft or illegal fund transfers.
SQL injection: Ittakes place when a scammer inserts malicious code into a user’s vulnerable server that uses SQL and influences to reveal personal information.
Cybercriminals use these tactics to commit identity theft and fraud. In cyber security, identity theft occurs when criminals steal a person’s identity using phishing, or malware to perform criminal acts.
When is your Company at Risk of Getting Hacked?
All companies might not have the luxury of cyber security installed within their company’s risk management systems. Getting scammed could lead companies to a whole host of financial and reputational losses.
Red flags signifying your company has been hacked includes:
- Excessive password retries logged to connect with a domain account
- Alerts of unexpected messages from business contacts
- Increased network traffic
Integrating identity verification services with your system can help to mitigate risk by verifying identities in real-time. Cyber security analysts recommend that all you need to have is robust cyber security services integrated into your systems. They will help you to protect systems, networks, programs, devices and data from cyberattacks. It seamlessly safeguards data against theft.
Ways to Prevent Cyberattacks
A steep rise in cyberattacks has made companies stand on their toes. Hackers are increasingly taking over the systems while we are still figuring out how to avoid cyberattacks. Most companies are not dwelling on the fact that their systems can be hacked and they need to update the credentials more often.
Let’s get the ball rolling to decode how to avoid a cyberattack.
Stay updated about the identity threats
You must take a note- cyber security isn’t the sole responsibility of your tech team. You must educate and inform your entire team about cybercriminals including phone scammers, and identity thefts. You need to aware your team of possible digital threats and the best cybersecurity services with relevant training programs.
Keep your data encrypted
Encryption of your data protects you effectively against cyberattacks as it becomes garbled as soon as it reaches cyberattackers. Cyber security services do consist of encryption software that could safeguard all your sensitive data.
Count on Artificial Intelligence and Advanced Technology
The advent of the digital era has made it much easier for scammers to commit cyberattacks. To prevent this, make your team lean into AI and automation. Integrate your website, server, and entire system with advanced tech tools.
The ever-increasing cases of identity thefts and anti-money laundering be evidence of not to skimp over cyber security. You must know your clients are who they say they are before you enter into a business deal. Integrating seamless identity verification services with your risk management system enables you to prevent fraud much before it occurs.
Keep your system secured
You must ensure to install cybersecurity software, update it regularly, and use spam filters more often. This prevents you from data breaches by preventing hackers from getting access to your system.