• ACE Team

5 Most Common Cybersecurity Issues Faced By Companies


Businesses are just as at risk from cyber security threats as large enterprises. A common misconception for businesses is an idea of security through obscurity, that your business is a target, but unfortunately, this is not the case.


Cybersecurity attacks can happen to any company at any time. In 2020, established organizations such as Marriott, MGM Resorts, Twitter and Magellan Health all fell victim to cyber attacks. Yet hackers don’t just go after heavyweights. More than one in four data breaches involved small businesses, according to Verizon Business’s 2020 Data Breach Investigations Report.


Social engineering

These tactics are designed to trick individuals into giving out sensitive or confidential information. More often than not, these types of attacks appear as phishing. According to security software company Digital Guardian, phishing represents 91% of social engineering attacks.


Phishing attacks rely on emails designed to look like they come from a legitimate source, such as a business, bank, or government agency. When recipients click on a link or open a file within the email, they expose their network to malware. The practice has grown in sophistication over the years, making it crucial for employers to train their staff to understand what these attacks may look like, and how to avoid falling for their deception.


Cloud computing issues

The amount of valuable information that is on multiple data sources has grown rapidly from the early days of computing. The opportunity for organizations of all sizes to have their data compromised grows as the number of devices that store confidential data increases. Cloud storage and the Internet of Things (IoT) have exposed new vulnerabilities. Organizations and businesses must make security plans that take new security threats into consideration, rather than only protecting business computers and mobile devices.


Distributed Denial-of-Service

A cyber attacker floods the system with a high number of simultaneous functions, such as a request to a webpage. The goal is to overwhelm networks, systems or devices. This can ultimately expose vulnerabilities that cyber attackers can exploit. Like other forms of cyberattacks, this method’s experience has increased as technology has evolved, making it vital for organizations to be aware of the latest innovations to protect against these types of cybersecurity issues.


Third-party software

Small businesses represent an appealing target to cyber attackers. One reason is that their smaller computer infrastructures can occasionally provide gateways to bigger targets. Small businesses usually don’t have robust security protocols in place that prevent theft.


Ransomware

Ransomware is another tactic used by hackers. The objective is to hold a company’s data hostage until the affected user pays a specific dollar amount, which can often be hefty. These attacks can use email to penetrate a system, but can also be initiated by visiting an infected website, clicking on an online ad with malicious code, or hackers exploiting network vulnerabilities.


Conclusion

Understanding a hacker's method can mitigate the imminent threat of data loss. By monitoring trends and new technologies, cybersecurity professionals can prevent the fatal damage of a large-scale data breach.


Need help with cybersecurity for your company?


Call us at +65 6262 0402 or email us at care@acebizservices.com to get the information details on your needs.


Credit:Common Cybersecurity Issues That Organizations Face

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