As more and more businesses now depend on the Internet for their daily operations, they become more savvy in how to use the Internet for saving data, marketing and advertising. Unfortunately, cybercriminals and hackers have also become more savvy, as they can make a lot of money by targeting your business. You need to protect your business as much as possible against a myriad of different threats. Here are all the top cyber scams worrying cyber security experts in 2023.
Ransomware is one of the largest growing threats against business cyber security. Ransomware is a form of malware which if downloaded, will hold your precious data files to ransom. In order to return the files, you will need to pay a large fee to the cyber hacker, usually in cryptocurrency, so it is hard to trace the attacker. It is one of the largest problems facing businesses, perhaps the most severe attack in the past couple of years. In 2021, recovering from a ransomware attack could cost up to $2 million. Knowing how to protect your business devices against this form of malware through anti-virus protection and educating your staff can help you protect your business against ransomware.
Cyber attacks have evolved massively throughout the years – phishing started in the 1990s and involved sending out random hoax emails in order to get the recipient to click a link to a virus or malware. However, cybercriminals have ‘improved’ the practice as business owners became more savvy against phishing attacks, and created ‘spear phishing.’ Spear phishing will often target individuals by name, and pretend to be business contacts and people close to that person, making it much more likely that they will click the link. By educating your staff and improving your cyber security practices, you will be able to protect your business better.
Another form of phishing which is costing businesses a lot of money recently is clone phishing. Clone phishing will pretend to be another organisation, such as an IT department or software customer service department. They will ‘clone’ emails so that the email address and format look extremely similar (almost identical) to real business communications. It will often offer a software upgrade via a link or tell you to input your password – and then the cybercriminal can get your data. Having security in place such as 2 Factor Authentication and valid emails can protect your business from clone phishing attempts.
In the past, cybercriminals used to make money by directly stealing money through the data they steal. However, with the recent rise of the dark web, they can also sell your data on the dark web for a lot of money. In fact, some cybercriminals can make more money by selling your data than by trying to use it themselves. By backing up your data, and protecting it through cyber security methods, you can reduce the likelihood of your data being stolen on the dark web. Paying for dark web monitoring can also help you track if your data has been stolen stealthily, so you can protect your data much easier.
You need to protect your business through cyber security in 2023, especially if you use the Internet for your business operations regularly, which is very likely in modern times.