Cybercriminals are getting more advanced. From choosing their targets, to the tactics they use to attack various security systems, it’s easier than ever to fall victim to a cybercriminal’s activity.
Social engineering is still by far the most successful form of cyber threat, with ransomware, phishing, and spyware being the most common entry points. Third-party and fourth-party suppliers that handle data and have weak cybersecurity policies are another prominent attack route, emphasising the importance of vendor risk management and third-party risk management.
Cybersecurity is critical because it includes everything related to securing our confidential data, personal identifiable information (PII), protected health information (PHI), personal information, intellectual property, data, and governmental and business information systems from misuse and destruction by criminals and adversaries.
How could cyber-attacks affect you?
A lack of emphasis on cybersecurity will harm your company in a variety of ways, including:
Economic costs – intellectual property theft, business identity theft, trading chaos, and the cost of replacing broken systems.
Costs of reputation – consumer dissatisfaction, loss of existing and prospective buyers to rivals, and inadequate media attention.
Regulatory costs – because of GDPR and other data breach rules, the company can face regulatory penalties or punishments as a result of cybercrime.
GDPR and other regulations have made cybersecurity unavoidable for companies across all sizes. Security issues threaten enterprises of all types on a daily basis and often make the front page, causing permanent reputational harm to the firms involved.
How to protect against cyber threats:
Two factor authentication:
Two-factor authentication (2FA) is an additional step added to the log-in phase, such as a code sent to your phone or a fingerprint scan, that helps verify your identity and prevents cybercriminals from accessing your private details.
2FA is a subset of multi-factor authentication, which is an automated authentication mechanism that allows a person to verify their identity in several forms before being granted account access. Two-factor authentication gets its name from the fact that it needs a combination of two factors, whereas multi-factor authentication requires more.
An ATM card is a clear example of two-factor authentication in the real world. To enter your account, you must not only physically display the card, but also type in your PIN.
2FA gives that extra sense of security – it’s just that much harder for someone to access your accounts illegitimately.
Why do I need 2FA?
Passwords have traditionally been a poor form of protection on their own due to the sophisticated nature of hacking as well as the general frustration of password formation and usage. According to a Harris Poll, 78 percent of Generation Z uses the same password for different accounts, raising their potential risk if a thief figures out their passwords. Furthermore, almost 23 million accounts still use the password "123456."
Adding an extra step to account entry makes it more difficult for hackers to access your personal information. If you apply a knowledge attribute to your bank account, a cybercriminal who knows your secret would be unable to enter the account until he or she has your phone when the authentication code is sent.
In addition to this, it is easy to accidentally type your password into an illegitimate site, so even if your password is hard to guess there is still a chance someone could get their hands on it. Also, many large companies experience data leaks and breaches during which time your password information is vulnerable. So 2FA helps to protect your accounts between the time of the breach and you being notified to change your passwords.
Antivirus protection:
Antivirus software is intended to track, deter, and react to malicious software in your device, such as viruses – it is an integral component of a successful protection policy.
Antivirus programmes run in the background and scan any files you access, comparing it to suspected viruses and other forms of malware, helping you prevent them from infecting your computer. Device scans are also performed by the programme to ensure that no viruses are inactive on the server. If your antivirus programme detects a virus or other malware signature, it can interrupt the file from running and place it in quarantine, where it can either uninstall it automatically or you may opt to run it if you are sure it is a false warning.
Antivirus security is critical for any company who wants to keep its data and operating infrastructure from being compromised. Antivirus software acts as a security guard at the entrance, blocking intruders from entering. Since prevention is much more successful than treatment, it is preferable to have a mechanism in place built to track and deter virus attacks rather than spending time and resources fixing them.
If you need some more guidance on upping your cyber security and ways to protect yourself from cyber-attacks and cyber-crime, get in touch with Pearce IT today!