Global spending on IT security is expected to rise to over $1 trillion by 2025. This expenditure is due to the costs incurred by organizations to put in essential procedures to secure their data and systems from cyber-attackers.
As remote working and an increased trust in cloud services grow in the present world, many businesses have created vast volumes of data online, making them vulnerable to ever-increasing security threats.
But you may ask, what is a cyber-attack?
A cyber-attack is an unauthorized attempt to access data with malicious intentions. An attack can be launched by an individual or a group of people to steal, disable, alter or destroy data.
In this article, we will focus on two forms of cyber-attacks that hackers commonly use to exploit their targets; phishing and ransomware.
Phishing and ransomware have become the worst security nightmare for many businesses today. They are part of the rampart types of cyber-crimes, and their threats to data breaches are increasing rapidly.
Ransomware is a form of cyber-attack designed to extort money from the victims. Phishing is a form of social engineering attack whereby cyber-criminals access personal data through email and phonecalls. They then use this data for malicious gains. Phishing may involve the theft of passwords, bank card numbers and login user names.
A typical phishing attack involves sending an email with a malicious link or downloadable files to unsuspecting victims. The phishing emails look authentic, like they are sent from a trusted source. The victim may be lured to click or take action on such an email, quickly falling prey to the attacker’s trap.
The more unsuspicious a target is, the more successful the attack. As soon as the targeted user(s) clicks the email link, enters information into a web-page or downloads a malicious file, the attacker can quickly gain access to their data and systems, with the result that they may take control of personal information, or place orders for products on the unsuspecting persons credit card.
Some phishing attacks are complicated to detect. Even the most cautious users can easily fall prey to the attackers.
Ransomware can quickly overwhelm an organization’s system and negatively impact the entire operations. The attackers can take a company’s sensitive data, personal files, corporate data, healthcare records, government information and healthcare records hostage.
Without a clearly defined & tested disaster recovery plan, an attack can significantly impact business operations and affect productivity levels.
Preparation for a Ransomware attacks should be handled with a wide-ranging evaluation of a company’s preventive measures to know if they can counter the latest threats.
Ways to protect your business from phishing and ransomware
- Execute robust cyber-security awareness and training programs.
- Put in place active technical procedures to safeguard computer networks, such as:
- Sturdy spam filters to protect your networks from ransomware and phishing emails from reaching the end-users.
- Block malicious addresses by configuring firewalls.
- Use a centralized patch management system on devices.
- Set up antivirus and antimalware programs that will perform frequent scans automatically.
- Configure access controls
- Create concrete security policies that include but are not limited to complex password creation and expiration.
- Set up a website filter to block access to mischievous websites.
- Encrypting all sensitive company data.
- Constant network monitoring. It will assist you in identifying phishing and ransomware threats while keeping a close watch on your network’s traffic.
There is no absolute guarantee that you won’t be the target of a malicious attack, but working with a trusted Managed Service Provider like TLC Solutions can help to protect your data from ransomware and phishing attacks and keep your business safe. Our cyber-security services offer 24/7 protection with the most advanced AI threat detection and elimination technologies.
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