In our increasingly digital world, cybersecurity threats are a growing concern. Businesses, in particular, are a target favored by criminal elements. Here, we take a look at a few of the most common threats and explore why they’re especially problematic for businesses.
A portmanteau derived from the words “malicious” and “software,” malware is a general term for software that’s designed to cause harm or damage to an IT network, steal sensitive information, or disrupt services. It encompasses viruses, trojans, and spyware, amongst other things. For businesses, malware infiltration can be incredibly damaging – not to mention expensive – so adequate protection and expert support is absolutely essential.
Ransomware is a specific type of malware that’s becoming an increasingly popular means of attacking businesses and compromising company network security. In 2017, a company was hit by a ransomware attack every 40 seconds and global damages linked to this specific type of malware exceeded $5 billion. Ransomware operates by infecting a system and locking access to all data contained within until a ransom is paid to the attackers. However, paying the ransom doesn’t guarantee that you’ll gain access to your files again – one in five of those who pay the ransom never receive their lost data.
Another threat facing most businesses is data loss via phishing and whaling attacks. These methods compromise computer network security by targeting a well-known weak link – human agents. Phishing involves the fraudulent impersonation of a legitimate individual or organization over email, in an attempt to convince the recipient to reveal sensitive information, such as passwords. Whaling is a similar activity, though it typically targets higher profile individuals, such as C-suite executives.
Damage to a business reputation
While all of these threats can cause large financial losses, they can also have a dramatic impact on future earnings. The damage a digital security breach can cause to a business’ reputation cannot be understated. If customers can’t trust a company, they’re extremely unlikely to do business with it. Such damage can be irreparable and threaten the business’ very existence.
If you’re concerned about your organization’s network security, give us a call at TH2tech. Our experienced technicians will be more than happy to discuss the ways in which you can protect your business’ future.