Corporations are paying more attention to their cyber security postures. The worst cyber security breaches like those suffered by Under Armour, US Universities, Uber, and Equifax increased awareness about corporations’ need to be more watchful in today’s threatened environment.
Among the worst cyber security breaches indicted in 2018, are the attacks carried out by nine Iranian hackers towards more than 300 universities in the United States and abroad. The cyber activists of Iran are charged with a three-year campaign to penetrate and steal more than 31 terabytes of information from American and foreign universities.
According to Protiviti’s 2018 Security Threat Report, that’s geared to help businesses understand and address their cyber security landscape, some common digital threats include unsupported systems, ignoring new software security patches and lack of user access controls and strong permissions. The report also indicated that financial companies are the most susceptible to cyber-attacks.
Cyber security keeps evolving. As organizations continue to integrate new technologies to enhance convenience and productivity, they also open themselves up to cyber-attacks. However, this doesn’t mean that they should stop adopting new technologies, but instead, they should try to find a fine balance between the two.
Here are the top cyber security vulnerabilities threatening corporations and how to avert them:
Phishing
According to Verizon’s 2016 Data Breach Investigation Report, the phishing attacks growth – both in sophistication and frequency – is a major threat to all corporations. As such, it is essential for staff to know how to pinpoint them if they are keen on preventing data security breaches. Some types of phishing include:
- Deceptive phishing – where cybercriminals impersonate a legitimate firm and try to steal personal data and login credentials
- Spear phishing – a more sophisticated version where the scammer uses available data (like name, position, work phone, company) to direct their request to a company
With this in mind, it’s vital for corporations to perform a security awareness training consistently so that executives and employees stay on top of phishing threats.
Insider threats
Insider threats are one of the most overlooked cyber security concern. Employees may be terminated or resign and decide to build a backdoor for themselves or bring along some sensitive data to a competing company. To ensure this doesn’t happen, companies should revoke the credentials of the employee as soon as they seize working for the company.
Malware, Ransomware
Malware is a file or program that infects a computing device or computer when a user opens a link or clicks on an email attachment to a malicious website. Examples of malware include computer worms, viruses, spyware, and Trojan horses. Ransomware, on the other hand, is a malicious malware that locks the victim’s computer by encryption and prevents access to all files until the user pays a ransom. End-user vigilance is a great way to spot dubious requests and suspicious files. Companies can also install endpoint security software to protect the network from infection. Above all, employee cyber security training can help combat such threats. Data backup is also an ideal way to deal with Ransomware as companies can wipe their system and avoid paying the ransom.
Internet of Things (IoT) vulnerabilities
Today, everything is connected, which makes lives easier; however, it also opens up a range of new security concerns. Without strong online security, cybercriminals can easily access files and steal important information. It’s therefore imperative for companies to change their passwords often, on the many IoT devices installed.
Conclusion
In addition to installing security products for defense, companies should employ strategies targeted on detection and prevention. They should train their employee to spot threats so they don’t fall prey. Besides, they should monitor threat on an ongoing basis as attacks can happen at any time.
