The advent of technology makes it easy for companies to maintain and improve protection for confidential data that may be subject to cyber threats. This enhanced security then ensures that business operations and ideas are well-protected, thereby helping enterprises create a strong brand identity and maintain a competitive advantage against other industry players. In this article, we learn 5 cybersecurity vulnerabilities every business should know.
The first step to establishing a solid IT security system is knowing the threats and vulnerabilities that a company might encounter. Having complete knowledge of different cybersecurity issues allows businesses to respond better and swiftly gain control of a cyber attack.
Read on to know five cybersecurity vulnerabilities that businesses should know and how to protect their security system from each of these threats.
Malware is a type of software designed to cause disruption and damage to a computer network or server. Cybercriminals create malicious codes to gain unauthorized access to private information and leak or destroy such data.
A malware attack is one of the most used and powerful types of cybersecurity threats since it comes in different forms. Email attachments, malicious websites and ads, shared networks, viruses, and torrents are some of the sources of malware files that can infect an unwitting user’s device or network.
Businesses can keep their data secure against this cybersecurity vulnerability by implementing anti-malware software in their computer systems and running regular scans to prevent infections. Providing cyber awareness seminars to deepen employees’ understanding of the possible risks of downloading files from untrusted sources also strengthens protection against malware attacks.
Poor Patch Management
Patching is a critical part of ensuring that a business security system is updated and compliant with regulations. Organizations must apply new patches as soon as they are released, since the vulnerability that the patches aim to fight is also made public and can be used to attack company networks.
Mishandling of patch management can leave companies’ confidential data exposed and subject them to various malware attacks. It can also result in long-term infection from viruses, buggy systems, frequent downtime, and loss of compatibility with other functions or systems.
Companies must ensure that their security systems have the latest patch updates to prevent these cyber issues from arising. Creating and implementing a corporate-wide patch management policy, as well as regularly monitoring all connected networks and devices, are additional steps businesses can undertake to uphold efficient patch management.
Phishing attacks sit high on the ranking of the most effective and widespread threats that businesses face. This cyber threat aims to obtain and compromise sensitive data by presenting its carrier as a trustworthy entity to its target.
It usually comes in the form of an email, in which the attacker impersonates a legitimate organization and attempts to hoodwink the receiver to click on a link. This link may introduce malware through a downloaded file, lock the system, or gather sensitive data like bank details or login credentials.
Email systems have (and continue to) become adept at detecting phishing attacks, but that also means cybercriminals are improving their attack tactics. Even in the tamper-proof Web 3.0 system, this cybersecurity threat will still be prevalent as malicious actors’ phishing strategies evolve.
A foolproof way to prevent this vulnerability from compromising company data is honing employees’ ability to discern the signs of a phishing email. Adding a multi-factor authentication mechanism in corporate systems provides another layer of protection against this cybersecurity issue.
Weak Passwords and Insufficient Authentication
Possibly the biggest threat to a business’ security and operations system is a weak password management policy. This means the passwords used by the company’s systems, especially ones created by employees, are predictable.
These easy-to-guess passwords make it a breeze for hackers to access corporate networks and obtain sensitive company information. It becomes much easier for cybercriminals to breach the system if the same passwords are used for different accounts and if they don’t have sufficient authentication technology in place.
Addressing this cybersecurity issue is quite easy: create unique passwords consisting of lowercase and uppercase letters, numbers, and symbols. Companies can also implement the use of business password management tools to easily manage multiple accounts with different sign-in credentials and create strong passwords.
Implementing multi-factor authentication for all login credentials also provides additional protection against unauthorized access even if attackers know the system’s password.
High-risk IoT Devices
Many Internet of Things (IoT) devices are connected to a company’s network. From tablets and computers to smart thermostats and smart locks, these technologies are all connected within the business cyber system.
While that connection offers great efficiency to business operations, it can also jeopardize them. Having numerous IoT devices connected to a single network provides multiple doors for a massive cyber attack that could put the enterprise at great risk.
To ensure the security of these technologies, companies should get an exact number of IoT devices connected to their network and the risk profile for each of them. Doing so allows enterprises to create an effective security system.
Understanding different cybersecurity vulnerabilities will help companies create and implement strong security policies to ensure the protection of their business operations. This deeper knowledge will also help business owners come up with effective solutions in the face of a cybersecurity threat, which can help them against the negative effects of being the target of a cyberattack.
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