How to prevent cybersecurity threats: Tips for online businesses

How to prevent cybersecurity threats: Tips for online businesses
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The development of technology has impacted our lives in various ways, from the way individuals go about their daily lives to the way companies perform their business operations. The spread of the Covid 19 pandemic showed us how much we need technology, and technology definitely stepped up its game and helped us to bring some normalcy to our lives in a time when everything was strange and unexpected. It allowed most people to discover remote working for the first time in their lives, students to continue learning while staying safe at home, businesses to continue operating despite the new situation, and everyone to continue with their lives as best as they could.

How to prevent cybersecurity threats

But, not everything technology brings to our lives is as great as all the benefits. It also brought the danger of cyber attacks that can affect anyone who has access to the network. Unfortunately, cyber-attacks have become a part of our reality as nobody is safe anymore. Cybercriminals do not care what type of business you have or how big it is, they just care about exploiting it for financial gain. From using your confidential data to selling it to the highest bidder, cybercriminals can find profit anywhere.

Luckily, you can protect yourself and your business from cyberattacks by taking some actions like implementing cybersecurity tools such as data enrichment tools, device fingerprinting, and multi-factor verification, or by enforcing good password hygiene throughout the entire company. Taking just one step is not enough but implementing them all together can make a difference between staying safe and becoming a victim. Visit Constant C for more information.

What are the most common cybersecurity threats?

What Are The Most Common Cybersecurity Threats

In order to be able to fight against cyberattacks, you need to know what you are fighting against. You can’t go blindly into this fight if you want to come out as a winner.

With so many different types of cyberattacks, it is hard to know where to start, but these are the most common ones.

  1. Malware

    These types of attacks happen when cybercriminals use malicious software to gain access to a device in order to steal users’ confidential information, block users from accessing that device or even damage it for their financial gain. Malware attacks include different types of malicious software like viruses, worms, spyware, ransomware, and Trojan horses and they can occur on all sorts of devices which makes them even more dangerous.

  2. Ransomware

    This technically falls in the category of malware attacks, but it is so lucrative and widespread that it needs to be mentioned specifically. As malware attacks, it starts by gaining access to a system or a network which it uses to encrypt the data and block the victim from using it. This forces users to pay ransom in order to regain access back to their own systems. They can affect any type of business, from healthcare to the NBA which we have seen in recent years with the amount companies paid to hackers growing by 300%.

  3. Phishing Attacks

    This type of cyber attack exploits the human element of businesses and organizations. Cybercriminals use human naivety and tendency to trust to trick them into giving them confidential data or even installing malicious software. Due to many different types of phishing attacks like CEO fraud, smishing, fishing, and deceptive or spear phishing, it is no wonder so many people fall victim to it. Luckily, by knowing what to look for, you will be able to use common sense and prevent them from affecting your business.

  4. Account Takeover

    One of the most common types of cyber fraud on eCommerce sites happens when cybercriminals gain access to users’ accounts which they then continue to use for malicious purposes. From stealing users’ payment details, using the account for purchases, or accessing victims’ other accounts, fraudsters can cause significant damage with this type of cyber attack. This might seem like it is affecting only customers, but it can cause damage to the eCommerce business through the chargebacks.

  5. Man-in-the-Middle Attack

    With this type of attack, fraudsters intercept the communication between two sides while keeping a pretense normal session is still happening. This way they can get confidential data from both sides and use it for their financial gain which is why it is an extremely popular type of attack with financial institutions or e-commerce businesses.

How to prevent cybersecurity threats?

By staying vigilant, proactive, and following the actions below, you will be able to prevent cybersecurity threats affecting your business or organization.

Educate your workforce

This is one of the most important steps you need to take as your workforce is the biggest and most valuable element of any business. They control most elements of your business which is why the human factor is such a risk, especially when it comes to phishing attacks. Educating your employees about cybersecurity threats, not only about how to recognize them but also how to prevent them and what to do if they become the victim can make a big difference in reducing the risks.

Implement the cybersecurity tools

Cybersecurity tools are your first line of defense that can stop cyberattacks before they even happen. Even only by using firewall and antivirus protection you can make a significant difference as they can stop different types of malware attacks. Combined with specialized cybersecurity tools and measures like device fingerprinting, email lookup, data enrichment, or multi-factor verifications, you can also stop account takeover, identity theft, and man-in-the-middle attacks.

Keep your software up to date

By keeping your software and systems up to date, you will be able to patch any security vulnerabilities they might have that cybercriminals could’ve used to launch their attack.

Implement password policy throughout the company

With so many different sites we need to remember passwords for, it’s easy to just go with something simple or to reuse the old password. But this can cause significant damage to your business as the password is the last step of defense against the theft of your confidential data. By educating your employees about the importance of good password hygiene and implementing a password policy you will be able to prevent cybercriminals from using bad passwords to access your network or system.

Thank you for reading!