If your business faces cyber threats, you’re not alone. According to a 2016 report by the Ponemon Institute, almost half of the companies worldwide have been affected by cyber-attacks that cost them an average of $7 million in lost productivity, legal fees, and other expenses. But what does this mean for your business? As the initial quote says, “while no company is immune to cyberattacks, the severity varies widely.” That means there are firms whose bottom line has been taken down temporarily or permanently due to these digital intrusions. Here are the reasons why your business is a target for cyber attacks.
The cyber-threat landscape has changed a lot in the last few years. The world’s largest center of innovation and talent, Silicon Valley, is a target because it has so much treasure trove to steal. On average, the digital bad guys are accessing more than 110 million Americans’ emails and files daily. Data theft can devastate businesses in industries that rely on the information hidden inside their offices.
Hackers are now getting paid for cybercrime just as you pay taxes to provide your government with the financial resources it needs to conduct the duties the citizen’s demand. Digital thieves are earning money through something called cryptojacking. Cryptojacking is when a cyber-attacker secretly installs malware on your computing device that uses its computing power to make cryptocurrency coins, which are then taken off your machine regularly. This is done without you knowing it’s happening, and the malware may remain undetected for months.
Your data is the entry point for a more powerful attack than just small-time cybercrime. Your sensitive data can be the key to unlocking a more comprehensive attack. If your network is penetrated, your security may not be fully in place. This can lead to additional attacks that are even more damaging to your organization’s bottom line.
As we enter a new age where everyone uses their smart devices, your business is vulnerable to attacks that lack sophistication because there need to be more people in-house to address all the problems efficiently. Many cyber crimes happen because companies do not have dedicated IT staff to manage them. An actual data breach can compound this issue by putting your entire organization at risk.
Preventative measures are essential, but they are only as strong as those implementing them. If your employees need to fully understand how to protect your data and implement the correct protocols, this will leave a massive opening for hackers. An awareness training program can help minimize these potential issues before they occur.
Security measures can be managed in a handful of ways, including using passwords or certificates. But these may not be optimal for your industry since they need to be updated and have already been compromised by hackers. A professional cybersecurity service provider can help you by implementing security standards relevant to your business’s needs.
There are some ways to avoid cyber attacks. But at the end of the day, there will always be threats to businesses in any industry. The key is to have a multi-layered defense that can detect and respond to hacking attempts before they leave your network vulnerable. That is where Blue Light IT comes in—contact us to see how we can help fortify your business’ cyber-defenses to deter criminals and mitigate your risks.
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