• ACE Team

What are the types of Cyber risk?


There is no getting around the fact that cybersecurity is a real problem facing anyone with a device. Individual, business, organization, it doesn’t matter. With the widespread use of technology and its reliance on connectivity, it’s a prime market for malware. Since the inception of the internet, all sorts of security risks have come and gone.


Ransomware

Ransomware is a form of malware that attempts to encrypt your data and then extort a ransom to release an unlock code. Most ransomware is delivered via malicious emails. It also installs itself on a user system or network. Once installed, it prevents access to functionalities until a “ransom” is paid to third parties.


Phishing

Phishing is an attempt to gain sensitive information while posing as a trustworthy contact, for example a bank or online service. Spear phishing is a highly targeted attempt to gain information from an individual. Phishing emails may look completely convincing, often with faultless wording and genuine logos. There is a form of spear phishing, where a fake email from a CEO applies pressure on a CFO into making an urgent payment, this has become known as Whaling.


Data leakage

It is essential to understand that security extends well beyond the office these days. The use of smartphones and tablets has become widespread. The ubiquitous and cheap nature of portable storage devices makes them a useful tool for the backup and transportation of data. Those features mean they are also a target for data thieves.


Hacking

Gaining access to the IT systems from outside an organisation still offers rich pickings for criminals. Traditionally they have attempted to gain access to bank account information or credit card databases. However, intellectual property is another source of value. The use of social engineering, tricking staff into revealing user names and passwords, remains a threat.


Insider threat

If your organisation employs staff, there is a possibility they could leak data by mistake or maliciously. The potential damage from a leak of documents cannot be underestimated. Use these tips to mitigate the size of any data leak.


Conclusion

all the types of cyber risks continue to grow in complexity and understanding them is the best way to better protect your networks and systems.


Want to know how to protect your networks and systems?


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


Credit:top-five-cyber-risks

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