The top 5 types of cyber security threats every company needs to know about
The improvement of technology as well as the increase in interconnected businesses has led to a global increase in cyber security threats of alarming proportions. As a business, it is imperative to know about these cyber security threats, so one can adequately safeguard themselves from damage and loss. In this article, we’ve discussed the 5 types of cyber security threats that you should be aware of in 2022. Read about them below.
DDoS
- In a DDoS (Distributed Denial of Service) attack, the hacker attempts to overwhelm an internet server by directing an unusually high volume of traffic towards it. This disrupts the normal operation of the server and can bring entire systems to a complete halt.
DDoS attacks aren’t a new threat, however hackers have been using more sophisticated methods that allow them to carry out these attacks undetected. It was reported that in 2020 alone, over 10 million DDoS attacks were recorded globally. DDoS can cause damages in millions of dollars, in addition to prolonged server outages and IT infrastructure experiencing a cascade failure. Many businesses hire the services of a professional IT security company that provide endpoint protection & security for their IT infrastructure.
Deepfakes
- Deepfakes utilize artificial intelligence and deep learning algorithms to make simulated images and videos that appear convincingly real. Deepfake started out as an academic project, and has now been perfected to the point that it is almost indistinguishable from reality.
Deepfakes have been widely used in information propaganda, in an attempt to create mass hysteria and panic. The most recent deepfake attack involved hackers impersonating a company’s executive to initiate a 243,000$ transfer to their own bank accounts. Many cyber security companies around the world are educating people about the threats posed by deepfakes, and implementing strategies for early detection of this threat.
Ransomware & Phishing
- A ransomware is a malicious software that encrypts your data and demands a ransom for unlocking it. A phishing attack causes you to give your sensitive information to someone pretending to be a legitimate company.
In 2019, it was reported that ransomware and phishing cost businesses a loss of 450,000$, in the US alone. A business today cannot ignore this threat, and will need to take adequate security measures. Employee training to identify and report such instances can drastically reduce the probability of ransomware and phishing affecting a business.
Social Engineering Attack
A social engineering attack involves people using non-technical means to deceive and exploit security vulnerabilities in a business. These people employ several tactics such as impersonation, phishing phone calls and text messages, targeting business employees to gain trust, and pretending to need sensitive information to perform an urgent task.
An adequately trained workforce will be able to identify such instances, and report them to the IT security team. They will also be better able to understand the consequences of their actions, and employ better work practices to prevent any loss to the business.
IT Infrastructure Vulnerability
- Businesses need to make sure they have adequate security protocols in place such as endpoint security check, secured internet connection with a firewall, encrypted backups, an early warning and detection system, and a trained IT staff to deal with cyber security threats.
Many businesses hire an IT security company that provides crucial services such as vulnerability scanning, anti-virus services, provision of security updates and patches, regular testing of IT infrastructure against cyber attacks, as well as employee training and education.
Micro Strategies Technology Solutions is a top notch IT security service provider based in New Jersey. Call us today at 973-625-7721 and let our professionals conduct a security assessment of your business.
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