Companies of all sizes are, and will continue to be, the targets of cyber attacks. Hackers themselves are becoming more sophisticated, and attacks are getting more difficult to identify and stop. SMBs are particularly vulnerable to these attacks, and a large portion of them end up closing their doors within 6 months of an attack according to a recent report. These types of attacks can not only affect your bottom line, but erode public trust in your brand and employee morale. Here are some of the most dangerous types of cyber attacks you have to protect yourself from.
The BEC Scam
The BEC, or business email compromise scam, is becoming increasingly popular and is particularly dangerous for businesses. It is when a hacker uses the guise of authority to get a particular person within the organization to commit a certain action. For instance, someone could pose as a CEO and ask for a transfer of funds to another account.
One of the things that make this one so dangerous is that it doesn’t have to use advanced data decryption techniques like many preventable attacks do, it primarily uses social engineering and trust as a tool. Some of the things you can do to protect yourself are to educate your employees and add additional layers of identification to email logins.
Ransomware attacks are when a specific software or person threatens to do something to you or your organization’s data, website, or network if you don’t perform a certain action. This action usually involves some form of payment. Some of the most famous attacks were ransomware attacks, such as the WannaCry virus for instance. As a matter of fact, it was estimated that the total losses caused by ransomware reached over 8 billion dollars in 2018 alone.
Malware, which is short for malicious software, is another very common and potentially dangerous type of cyber attack. These usually happen when someone ends up clicking on a download link or visits a site and downloads the malware by accident. These can do things like corrupt data, damage a network, or even access a network remotely from connected devices.
Man-in-the-Middle, or MitM attacks, occur when someone from outside a network finds a way to squeeze themselves between 2 parties in a transaction. These are also often called “eavesdropping attacks,” as hackers are able to “eavesdrop” on a connection and intercept data.
They can then sift through it, find the information they want, and extract it. This often occurrs when people use unsecured public Wi-Fi networks. You probably won’t even notice this type of attack until the attacker has used your information, such as credit card details.
Protecting yourself and your business from cyber attacks should be a priority in your organization. Make sure that your employees are ready for attacks and have security audit performed by a professional team. They’ll be able to identify chances for leaks and help you block them before something happens.