Top Cybersecurity Threats & Solutions To Empower Every Business

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By Naomi Hodges - cybersecurity advisor at Sufshark  

Today, there are increasing amounts of new devices and platforms being unveiled, particularly within the IoT realm. Businesses are welcoming new developments to better serve their clients needs. 

But with a plethora of data now being exchanged across expansive networks, hackers are rubbing their hands with glee. Attacks can be orchestrated by a number of parties: organized crime groups, foreign governments, competitors, hacktivists, or extortionists. 

The prospect of a cyberattack is unnerving, so it’s high time for businesses to get serious about cybersecurity and protect assets and clients.

What types of threats exist?

1.  Malware, Phishing, Ransomware

Phishing scams are nothing new to the vast majority of us but, astonishingly, they still represent one of the most lucrative and successful methods at an attackers disposal. 

Such attacks are initiated at the most basic level and often involve simply opening an email that appears legit.

Once opened, a machine or network may be unwittingly compromised with malware and possibly go undetected for a period of time. When ransomware is involved, operations can grind to a halt as hackers gain access and hold data hostage until their demands are met.

2.  DDoS attacks

This particular type of attack works by overwhelming servers with more traffic than they can handle so that it slows down or crashes completely. These attacks are often aimed at weakening the overall security of a network or can even used as a distraction tactic while other more damaging assaults are being carried out. 

3.  IoT and Algorithm manipulations.

Rapid developments within AI and the roll out of IoT have taken businesses into uncharted territory when it comes to cybersecurity.

Security is often undermined in IoT products s as manufactures and developers use hard-coded, fixed passwords by default, turning IoT appliances into sitting ducks within the network structure. If a hacker can crack the default password, then this may be entry point for a serious offense.

Furthermore, when integrating IoT products into a network, there’s a bigger demand for monitoring traffic flowing through each endpoint - putting a strain on human resources. There are innovations within the field of Machine Learning which are aimed at performing cybersecurity duties and can work to counterbalance the imperfections that IoT presents.

Solutions

With awareness of the different types of attacks, companies can begin building defenses where vulnerabilities exist.

1. Use cloud based IT platforms

When businesses heavily rely on multiple third-party vendors for software, applications, email accounts whilst using multiple devices, there is a greater risk of interception. Businesses will also be somewhat at the mercy to the creators of such applications and they can only cross their fingers that such vendors keep their products up-to-date and secure.

So, how can a company mitigate this issue? By moving to a cloud based IT platform. 

This is an “all-in-one” solution which houses all applications and accounts, and thus creating a secure space for communicating and sharing data. Security also gets an added bonus when cloud providers perform device authentication to prevent unauthorized access to designated parts of a network.

Furthermore, steps have been taken to incorporate AI driven analytics which recognizes unusual behavior quicker than any human analyst and therefore prompting an incident response which could save huge costs.

It’s a bold step to take and it’s a world apart from the traditional IT infrastructure. 

2. Train staff to be alert for threats

One area that requires ongoing management is keeping staff proficiently trained and equipped with knowledge and awareness of potential breaches. Human error often accounts for many data breaches and hackers are counting on it. 

Mistakes can be as simple as storing data on devices without encryption, opening a bogus email, or sharing sensitive information with people unnecessarily-or the wrong people entirely.

Incidents like these are usually avoidable, and many companies have learned the hard way. 

It’s important to implement policies to habituate safer online practices, such as creating stronger passwords and refraining from downloading third-party apps onto computers and mobiles. Also, restricting access to certain information, encrypting storage space, and creating regular backups of data are all basic necessities. 

3. Secure your DNS

DNS is a fundamental function of the internet. Each time a user enters a web address a query is sent to the DNS servers which then searches through DNS records to find the corresponding IP address and display the appropriate content. 

Most internet users are happy to simply leave it up to their ISP’s very own DNS servers to handle this task. However, ISPs can lack adequate resources to deal with sophisticated attacks that businesses are at risk from.

So, outsourcing to a professional dedicated DNS provider takes away much of the stress as they’ll be  guarding fort when it comes to preventing such threats as DDos attacks. Trustworthy providers can monitor internet traffic, analyze any unusual activity from suspicious locations, and IP addresses, which could indicate a hacker is testing the boundaries before launching a full-throttle attack.

4. Protect your internet connection

Simply connecting any device to your ISP leaves the door open for hackers. One simple solution is to use a VPN router, which will encrypt all internet traffic and shield it from interception. Read here to know what is a VPN?

It’s particularly useful as it provides full network-wide coverage for all devices regardless of whether they are capable of connecting to a VPN on their own, such as IoT appliances or wireless cameras. Also, any devices, such as a smartphone, will no longer need to download the vendors VPN software. Instead, they simply connect to the router itself to be instantly secured with strong encryption.

5. Have an action plan

Preventing an attack is priority but, if such methods fail, an emergency plan should kick into action. 

Action plans consist of identifying the points of failure within a network, how an attack could unfold, how quickly can the security team spot an incident, what impact it could have on the company, and how to recover. 

An emergency response team - consisting of members from all departments - should also be drawn up. 

If an attack begins to unfold, it’s ultimately the clients and customers that are in jeopardy, and a cascade of events can ensue.

Repercussions can go beyond just losing the trust of clients; costly and damaging legal issues can be the result of data falling into the wrong hands. Recovering from incidents is a lengthy process and expenses will mount up when retraining staff and rebuilding the company’s reputation. 

So, there’s little room for complacency in the world of cybersecurity. Technology is advancing fast, and surviving this new digital era requires business owners to constantly re-evaluate their security strategies.

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