Data breaches have become more common in recent years, owing primarily to the rapid emergence of new threats.
According to a new study, the average cost of a data breach increased 2.6% from 2021 to 2022.* Hackers can now access sensitive information a lot easier than ever before, thanks to the growth of the internet and the increasing interconnectedness of businesses. They can then sell that information on the dark web or use it to commit other crimes such as identity theft.
So, what can you do to safeguard your business against data breaches?
In this blog, we'll discuss a few of the threats you need to look out for to safeguard your business.
Here are some lesser known cyberthreats that you need to be aware of:
Juice Jacking
Juice jacking is a cyberattack where a malicious actor secretly installs malware on a public charging station. This malware can then infect the devices of anyone who plugs into the charging station. Once infected, the attacker can access the victim's data. Crazy, right?
An attack of this nature needs to be proactively tackled because more people are using public charging stations to charge their devices. Remember, it's not just phones that are at risk — any device connected to the infected public charging station is susceptible to juice jacking, including laptops and tablets.
If you must use a public charging station, take a few precautions. To start, only use trustworthy stations. Second, to keep your device from becoming infected, use a USB data blocker. Finally, ensure that your device is in "charging" mode rather than "data transfer" mode.
Malware-laden Apps
The number of smartphone users has grown and along with it the number of mobile apps. While there are many legitimate and safe apps available in app stores, there are also many malicious apps cybercriminals release despite valiant efforts to keep app stores safe.
One of the biggest dangers of downloading bad apps is that they can infect your device with malware. This malicious software can wreak havoc on your device, including stealing your personal data, vandalizing your files and causing your device to crash. In some cases, malware even equips hackers to take control of your device remotely.
So, how can you protect yourself from downloading malware-laden apps? The best defence is to be vigilant and research before downloading any app, even if it’s from an official store like the App Store or Google Play Store. Check reviews and ratings, and only download apps from developers that you trust.
Malicious QR Codes
It's no secret that QR codes are becoming increasingly popular. Unfortunately, while they offer a convenient way to share information, they also present a potential security risk. That's because scanning a malicious QR code can give attackers access to your device and data.
The best way to protect yourself against this type of attack is to be aware of the dangers and to take precautions when scanning QR codes. For example, you can use a reputable QR code scanner that checks malicious content before opening it. You can also avoid scanning QR codes that you don't trust.
Using public Wi-Fi without a VPN (Virtual Private Network)
Public Wi-Fi is everywhere, and it's often very convenient to use when you're out and about. However, what many people don't realize is that using public Wi-Fi without a VPN can be a security disaster.
When you connect to a public Wi-Fi network, you unwittingly invite potential hackers and cybercriminals to access your data. Without a VPN, anyone on the same network as you can easily see what you're doing online. They can intercept your data and even steal sensitive information.
That’s why we recommend using a VPN. A VPN encrypts your data and provides a secure connection, even on public Wi-Fi.
If you can't devote sufficient time and effort to combating cyberthreats, partnering with an IT service provider is your best option. An IT service provider, like us, can help you with cybersecurity, backup, compliance and much more.
We can also improve your employees' readiness to deal with cyberthreats by helping you provide regular security awareness training. Employees can benefit from this training by learning how to identify and avoid phishing scams, protect their passwords and detect other types of cyberattacks.
To learn more about security awareness training, download our eBook “Security Awareness Training: Your Small Business’s Best Investment” by clicking here.
Source:
* IBM Cost of Data Breach Report 2022
It’s crucial to identify insider threats early on. Keep an eye out for these tell-tale signs:
Unusual access patterns: An employee suddenly begins accessing confidential company information that is not relevant to their job
Excessive data transfers: An employee suddenly starts downloading a large volume of customer data and transfers it onto a memory stick.
Authorization requests: Someone repeatedly requests access to business-critical information even though their job role doesn’t require it.
Use of unapproved devices: Accessing confidential data using personal laptops or devices.
Disabling security tools: Someone from your organization disables their antivirus or firewall.
Behavioural changes: An employee exhibits abnormal behaviours, such as suddenly missing deadlines or exhibiting signs of extreme stress.
Here are our five steps to building a comprehensive cybersecurity framework that will ensure your business stays protected:
Implement a strong password policy and encourage the use of multi-factor authentication wherever possible.
Ensure employees can only access data and systems needed for their roles. Also, regularly review and update access privileges.
Educate and train your employees on insider threats and security best practices.
Back up your important data regularly to ensure you can recover from a data loss incident.
Develop a comprehensive incident response plan that lays out the plan of action on how to respond to insider threat incidents.
Protecting your business from insider threats can feel overwhelming, especially if you have to do it alone. That’s why you need an experienced partner. An IT service provider like Ratcliff IT can help you implement comprehensive security measures.
Let us help you safeguard your business from the inside out. Reach out and we’ll show you how to monitor for potential threats and respond effectively if an incident occurs.
To further enhance your cybersecurity posture, we invite you to take advantage of our cyber risk assessment. This comprehensive evaluation will identify vulnerabilities in your current security framework and provide actionable insights to help protect your business from emerging threats. Don’t leave your cybersecurity to chance—book your assessment today and take the first step towards a more secure future.