Digital devices and the internet have made life comfortable today in different ways. However, there is a flip side to every good technology. There has been a transformation in communication and business operations, but enormous challenges with data protection still lurks, resulting in cyber attacks. This situation happens when an unauthorized user gains access to a system or network by exploiting a vulnerability. Cyber attacks can have negative effects on businesses, causing data and financial losses. Plus, customer trust may dwindle due to reputational damage. Companies can elevate their cybersecurity by knowing the various threats and adopting preventive measures. Here are some common varieties of cyber attacks that frequently strike businesses and how to overcome them.
Phishing
This is one of the most prevalent types of cyber attacks, and involves the use of social engineering tactics where attackers may send fake emails to victims. Fraudsters use this strategy to gain confidential information and account credentials by infecting your device with malware. You can prevent phishing threats by scrutinizing your emails, updating passwords, and being extra careful. Most phishing emails contain significant errors, including incorrect spellings that are easy to spot, so keep this in mind.
DDoS
Distributed denial of service (DDoS) is a cyber attack that involves the use of several compromised computer systems or devices to overwhelm a server, website, or network resource. The idea is to slow down or crash the system by flooding it with tons of messages or connection requests, essentially denying service to legitimate users. 2023 saw almost 7.9 million DDoS attack cases, representing a 31% year-over-year increase. The reasons for DDoS attacks can range from political or ideological motives to ransom demands. Advanced hackers use AI machines to boost their techniques. Recovering from a DDoS attack may require significant time and money. Firewalls are effective for preventing a range of attacks, including DDoS and backdoors. Installing one will allow you to control traffic flowing through your network. It can stop any suspicious activity that can potentially harm your computer.
Man in the Middle (MITM)
MITM cybercriminals insert themselves into a communication line between two or more unsuspecting parties, eavesdropping on the conversation and extracting sensitive information. They can manipulate the content of the compromised conversation and use it for their interest. MITM attacks used to be very common. However, the advent of end-to-end encryption in today’s email and chat systems has reduced their threats. Data encryption is a great technique to prevent cyber attacks by ensuring only users with a decryption key can access the data.
Malware
Malware refers to malicious computer programs including spyware, adware, trojans, and other viruses. Spyware is designed to steal confidential information without your notice, whereas ransomware blocks access to important systems until you pay some money to the hackers. Trojan virus, too, can masquerade itself as legit software only to damage your systems. Protect your computers against malware by installing antivirus software like Norton, Avast, and McAfee. It would help if you update your operating system and browsers. While at it, consider adopting the essential eight security strategies to help your organization reduce the risks of targeted attacks by 85%.
Zero-Day Exploit
A zero-day exploit attack can happen following the announcement of a network vulnerability. Fixing the bug may take some time, depending on the vendor or developer, creating opportunities for hackers to target the system before a patch becomes available. Organizations can prevent zero-day exploits by having well-communicated patch management processes. Avoiding delays in development can reduce the risks of hackers targeting the loopholes. Develop an incident response plan and keep a strategy to evade zero-day attacks.
SQL injection
All data-driven websites are prone to SQL injection attacks. Hackers use this tactic to manipulate, steal, and delete data from a database. It’s a code injection attack where cybercriminals inject malicious SQL statements into a data-driven app, allowing them to fetch information. The code can read and extract information like intellectual property, employee or customer details, and administrative credentials. SQL injection remains a widely used attack vector businesses should watch for. It ranked third on the 2023 Common Weakness Enumeration (CEW) list of the most dangerous software vulnerabilities. In one high-profile case of an SQL injection attack, hackers gained access to Progress Software’s Movelt web transfer application, resulting in data breaches for thousands of organizations using the file transfer system. One way to combat SQL injection is to use an intrusion detection system to identify unauthorized access to your network. Validate your user-supplied data and keep the user input in check.
Insider attacks
As the name implies, an insider threat comes from within an organization and not a third party. For instance, it could be a staff member from your company that knows everything about your IT systems. This variety of attacks is rampant in small businesses where staff have access to multiple accounts with data. They can cause significant damage to businesses. The reasons for insider threats can range from greed to malice and carelessness. Unfortunately, predicting insider attacks can be tricky. Therefore, organizations should have a good cybersecurity culture awareness. Consider limiting the IT resources staff can access depending on their job roles. Train employees to identify insider threats and encourage your team to report attempts to misuse organizational data.
Crypto-jacking
Crypto-jacking occurs when attackers access your computer and use it for mining cryptocurrencies like Bitcoin. They may use online ads with JavaScript for their activities. Most victims are unaware of crypto-jacking as the code operates in the background. One possible sign you are being crypto-jacked is when there is a delay in execution. Consider installing ad blockers since ads are a major source of crypto-jacking. An extension like MinerBlock is a great tool to recognize and block crypto mining scripts. Update all your security apps, as the cyber threat can target under-protected systems.
With the era of internet and smartphone devices also comes various cyber security threats that can bankrupt your business and tarnish your reputation. Therefore, take the necessary steps to avoid these attacks.
