Cybersecurity Threats That Every Business Owner Needs To Know About

Ensuring the secure flow of information is something modern business owners are extremely concerned with. If you turn on the national news at any given time, you are sure to hear stories about data hacks and other cybercrimes. The longer you wait to get control of your network security, the higher the risk becomes of your sensitive data being hacked.

Luckily, there are a number of tools designed to help make using technology less risky. Tools like CENTRL – Third Party Risk Software not only help you mitigate the risks of using outside vendors, they also allow you to streamline cybersecurity assessments.

The main thing you need to do to avoid online threats is to educate yourself and take action. Below are some common cybersecurity threats all business owners need to know about.

Password Theft

Businesses around the world lose millions of dollars each year to hackers. The first line of defense when trying to keep hackers at bay is to create strong passwords. Most businesses require their employees to use passwords to access their network and view sensitive information. Modern cybercriminals use a variety of tactics to steal passwords from business owners and their employees.

In most cases, this password theft comes as a result of cybercriminals using brute force software to cycle through sometimes thousands of attempts. If you want to avoid falling victim to password theft, then enabling two-factor authentication is crucial. When two-factor authentication is enabled, your team members will need an additional device to complete their login. Using complex passwords is also vital when trying to avoid brute force attacks.

Phishing Attacks

One of the oldest methods used by hackers to gain access to sensitive information is known as a phishing attack. These attacks are usually predicated on a scam. For instance, hackers will send a message from what appears to be a reputable email address requesting passwords or other sensitive information from the recipient. If a person is not careful, they can fall victim to one of these attacks.

Using a common sense approach can help you spot and avoid phishing attacks. Generally, the messages that you receive from cyber-criminals attempting to perpetrate a phishing attack will have small syntax and spelling errors. Most reputable organizations will never send out an email requesting sensitive information from their clients. This is why you should discard and report these phishing emails as soon as you receive them.

Ransomware Attacks

Hackers are constantly changing the methods they use to take advantage of unsuspecting business owners. Over the past few years, ransomware attacks have become a favorite of hackers around the world. These attacks usually involve a hacker seizing a business network and locking the owner out. The only way these cybercriminals will relinquish control of the network and the information contained on it is by receiving a hefty ransom. In most cases, even if a person does pay the ransom, the criminals who have perpetrated this attack will not release their grip.

These attacks generally originate with a virus-filled link in an email. Installing comprehensive malware software on your business network can help you detect these viruses quickly. You also need to keep an updated backup of the files on your network. Having this backup allows you to wipe the network clean and then repopulate it with the same information. Working with an IT professional is a great way to get a cloud-based backup in place quickly.

Don’t Fall Victim to These Cyber Attacks

Failing to prepare for these common cyber attacks can leave the sensitive information on your network vulnerable. This is why you need to devote time and resources to properly secure the sensitive information at your business regularly.