It comes as a no-brainer that all businesses must secure themselves from cyberattacks in 2022. Cybersecurity breaches affected some of the world’s most top-notch companies over the previous decade. The last two years just upped the game of cyberwarfare.
Global Cyber Attack Consequence in 2021
Global studies indicate the pandemic has increased cyber-crime by 600%. Even the big fish were not spared in 2021. There was CNA Financial in March, Quanta in April, Acer in May, Linkedin in June, and so on. While cyberattacks may look like a problem for large corporations, the fact is that businesses of all sizes and in all industries are vulnerable. According to a new study by CISCO, 62% of small and medium enterprises in India have experienced cyberattacks that have cost them more than 3.5 crores. It comes as a result of, several firms transferring their activities online during the epidemic. Hackers are attacking even more vulnerable businesses. Small firms have grown increasingly susceptible to threats as e-commerce sales increased over the last year and a half.
Many high-profile attacks against businesses and groups have occurred, throughout the world in 2021. Only six ransomware gangs are responsible for the breach in the cybersecurity defense of 292 companies. These criminal gangs have amassed more than millions of dollars in ransom money because of their attacks thus far.
Most Common Types Of Cyberattacks
Before we dive into how you can secure your business, let us look at the most common types of cyberattacks in 2021 and what to watch out for this year.
- Ransomware
- Malware
- Phishing
- Man-in-the-middle attack or MITM
- SQL injection
- Password Attack
- Eavesdropping attack
- IoT-based Attacks
- Distributed denial of service (DDoS)
- Cross-Site Scripting (XSS)
The above is self-explanatory due to the names. Last year, a Ransomware attack cost CNA Financial $40 million to regain control of the company. The hacking group, Evil Corp, was suspected of masterminding the attack by using a new strain of malware dubbed Phoenix CryptoLocker. If that isn’t a wake-up call, then nothing else can ever be.
Here are a few ways you can Secure Your Business From Cyberattacks In 2022
Update Your Security Settings Regularly.
Keeping your OS up to date is the best technique for avoiding cyber attacks today. It’s easy to let your processes slip behind, given the excessive number of patch updates that businesses are releasing. Ensuring that your firm operating software is protected is one of the most fundamental essentials. It is also one of the most critical things your company needs to do. Make patch updates a priority and a part of your regular system maintenance.
Role-based Access Control Can Protect Your Data (RBAC)
Ecommerce is critical for businesses that want to stay competitive and reap the benefits of digitalization. When a platform gets connected to the internet, malicious hackers might get access and attack. Because data breaches need several levels to access, it is critical to protect all data to avoid a breach in the system. The best method to reduce these risks is to ensure that only important staff have access to data and information. Businesses should use role-based access control (RBAC) software to do this, which blocks access to the relevant data, permitting only authorized users complete viewing and access. RBAC increases a company’s cybersecurity by making it more difficult for hackers to get access.
Increased Password Security
Frequently a single password is conceived and then used with several permutations of that keyword or password to meet the needs of a site we’re accessing. Hackers are now on the hunt! Password security and employee training will help to keep your systems safe. Hackers may see your pattern and gain access to your email, computer, and network by using your name, address, birth date, pet’s name, and the same word or phrase. Personnel can use random passwords and maintain them in a safe password keeper to assist boost protection against these fraudsters and enable companies to rapidly eliminate any danger from compromised credentials obtained on the web.
Limiting Employee Authorizations And Zero-Trust Paradigm
Not every employee needs full access to it all. But because many think work is simple this way, multiple companies give staff broader access. On the other hand, making things simpler also makes it simpler for hackers to break into the systems. Allowing workers to have these rights means that if there is a cyberattack, the attacker now has access to everything the employee had access to before the breach. You can limit what cybercriminals have access to by evaluating employee access and applying “Least Privilege.” In today’s complicated IT environment, a minimal trust strategy may be the most effective method to accomplish this degree of security.
Many available technologies make it easier for employees to safeguard companies from nefarious malware. Furthermore, the zero-trust paradigm is a change in network protection toward a more complete IT security approach that allows enterprises to limit network, application, and environment access controls without losing workplace productivity. Enhancing security, adjusting to the remote work environment, and adapting to the transfer to a cloud environment are advantages of using the zero-trust paradigm.
Create a Business Continuity Model
Your company should focus on developing a cyber defense plan that protects the things that keep your business running. In the scenario that you have a data breach and need to recover any missing or encrypted data, your firm’s BCP should contain a strategy for comprehensive data restoration. Your business staff or security team should also establish manuals to combat the various attack strategies at this level. They should also go through real-time attack simulations.
Optimization Of Security Through Scanning And Follow-Up
Understanding your organization’s external vulnerabilities is critical to reducing its cyber risk. It is important to assess your organization’s external cyber position; it’s simple for cyber thieves to do a vulnerability check on your company and figure out precisely where your weak points are so they can attack you where it hurts. If you skip this step, your outward exposure will quickly deteriorate into something unsightly. Conducting scans of your third parties or partners is vital. Your company is just as safe as its weakest link.
Must-Have Solutions with MFAs And VPNs
An important point is that weak or stolen credentials are often used in over 95% of web application hacks. Businesses may offer an extra layer of security against these easy data breaches by adopting two-factor authentication, multifactor authentication, and end-to-end encryption. Increasing the number of safe authentications makes it far more difficult for attackers to breach this extra layer of protection.
Furthermore, using an unprotected Wi-Fi network invites hackers to break in and cause havoc. While the majority of enterprise networks are safe, contemporary business today extends beyond the office, leaving organizations vulnerable to insecure networks, a lesson many learned the hard way during the recent epidemic. To combat this, it is critical to invest in a reliable virtual private network (VPN). Taking advantage of VPN-developed private tunnels enables companies to maintain an active staff while still cyber protecting their systems. It’s important to remember general cyber hygiene. Tackling day-to-day cyber hygiene by adding things like Multi-Factor Authentication ensures your passwords are difficult. Whereas, adding Endpoint Detection and Response solutions, on the other hand, allows your security team to track action for each active endpoint in your infrastructure. This ensures that nothing falls between the cracks.
Traction Of Inventory
Even while it may seem self-evident, you’d be surprised at how many companies are unaware of their digital assets. Taking inventory of inventory decks is critical since it informs your security professionals about what they must protect. A network scan is a great area to start figuring out the resources in your network if your firm isn’t clear what assets it needs to safeguard.
Development of Customized Software
Several customized software is supported by businesses, with robust cybersecurity procedures. Their widespread use might make them a more attractive target for hackers, raising the risk of them becoming the escape hatch that leaves a company vulnerable. Investing in personalized software design, whether it’s brand-new solutions or unique interfaces with existing software, prevents hackers from trying to break into a network.
Should you take this approach, make sure your customized programmers have not just the technical ability to construct or install a solution. But also the cybersecurity expertise and industry-specific skills to guarantee your software meet all of your company’s business and security demands.
Practical Training For Increased Security Bandwidth
Even though a strong firewall should be an essential investment, when it comes to any cybersecurity efforts, do remember the next advice. Regardless of how effective your company’s firewall is, or any other security solutions your business develops. Your workers will be the frontline defense when it comes to ensuring cybersecurity.
Human error is responsible for about 90% of cyberattacks. As a result, it’s vital to constantly train staff on how to spot phishing attempts and other cybersecurity concerns. Whether it’s through frequent communication from your IT specialists or third-party training on the newest methods and what to look out for, a well-informed worker may significantly lower your cybersecurity susceptibility.
Fully Automated Remote Data Backup And Recovery
If internal corporate systems are infiltrated, they are very vulnerable to data loss, server breakdowns, and a range of other technical disasters. To avoid this, business leaders should prepare ahead of time and adopt automatic remote backup and recovery services. It will assist you in ensuring that data is backed up on a single, trusted source and that it can be promptly restored in the case of a hostile occurrence. As a result, threats such as ransomware can be avoided.
SMBs Must Budget Professional Help
Several small company owners make the same mistake of relying on free software trials to secure themselves from cyber-attacks. Although this is a great approach, it is typical for business owners to lose track of when free trials expire, leaving them open to attacks during out-of-date times.
Moreover, while free software is better than nothing, it is insufficient to defend against a full-fledged attack that might result in data leakage. Business owners are advised to use a professional service for maximum security.
Also read: How To Keep Your Small Business Or Tech Startup Safe From Cyberattacks in 2019
Some Extra Pointers:
Unbreachable Security Questions.
By posing difficult security questions, fakers can be deterred from compromising the verification process. So, how can you know whether you’ve asked a strong security question?
Some top ideas will make it easy for genuine users to confirm their identities:
- Protection: Hackers should not be able to predict or investigate it.
- Consistent: The answer should remain constant throughout time.
- Unforgettable: It should be able to be quickly recalled by the user.
- Quick and easy: The password should be short, easy to remember, and consistent.
- Several: The password should contain a large number of potential responses.
Password Policy tips
- Bigger passwords: At least 15 characters are required, with more if feasible.
- Combine characters:Capital letters and small letters, numerical, and symbols
- No terms from the dictionary: Use no words from a dictionary or even a mix of words. Instead, use a passcode without a grammar construct. Consider the following scenario: sauce jam buttercream cheese marmalade
- No noteworthy keyboard shortcuts: No keyboard routes such as asdfgh
- Alter your passwords frequently: Passwords should be changed once or twice a month. This ensures strength.
- Use a password manager to keep track of your passwords: Strong passwords may be generated and stored automatically using password managers. They store your credentials in an encrypted, central hub and provide you with a master password to access them.
A Perceptive Summation
Finally, knowing how cyber threats work and the way to counter them, is crucial to preventing intrusions, and securing your business. Investing in your cybersecurity measures and leveraging the expertise of those in the industry is critical, whether it’s enforcing password rules more frequently, updating your operating systems and applications regularly, implementing VPNs and MFAs, training your staff, or hiring third-party security system providers. It may help safeguard your business and save you money, as well as keep you out of the news as the “next victim of cyberattacks.”
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