Cybersecurity threats are on the rise and show no sign of slowing. And many businesses don’t have the resources to monitor and manage such threats on their own. In fact, cybercriminals are able to penetrate 93% of company networks to gain access to local network resources.
In addition, a mere 50% of U.S. businesses have an active cybersecurity plan in place. Even worse: 32% of those businesses haven’t updated their plan since operations were forced to go remote during the pandemic.
Worse yet, cyber threats are expensive. In 2021, cybercrime cost U.S. businesses more than $6.9 billion. It’s clear that cybersecurity is a threat you cannot afford to ignore.
In this post, we reveal the following:
- – The top cyber threats currently plaguing businesses;
- – The impact these threats can have on your business;
- – How a managed service provider can help you avoid these attacks.
Which threats do you need to look out for? Let’s take a look at the most common cyber threats businesses of all sizes are currently facing.
The Biggest Cybersecurity Threats for Businesses in 2022
Cyberattacks have become more sophisticated and damaging each year. While there are many types of attacks, let’s take a look at the most common ones impacting businesses just like yours.
Malware
Short for “malicious software,” malware is a file or code designed to disrupt, damage or gain unauthorized access to a computer system. Common types of malware include the following: Trojan Horses; Spyware; Adware; Viruses; and Worms. There are a variety of ways malware attacks are spread, including the following:
- – Email attachments are opened and/or forwarded
- – Infected items downloaded to file servers
- – File-sharing software
- – Peer-to-peer (P2P) file sharing
Ransomware
As the name indicates, a hacker locks the victim’s computer or files and holds it for ransom. The victim must pay a fee or provide a trade-off to unlock the computer. Ransomware is spread through email or by unknowingly visiting an infected site.
As you can imagine, these attacks are particularly scary. Paying the requested fee doesn’t always guarantee control of your device or access to your files. Instead, your valuable information is left in the hands of the hacker.
Phishing
Phishing is a type of social engineering attack that happens when a hacker uses a false identity to trick someone into sharing sensitive information, downloading malware, or visiting a site containing malware.
Electronic communications are the favored approach here. Hackers use email, text messages (smishing), instant messaging and social media accounts to conduct attacks often posing as your friends or colleagues to build trust. The goal: to trick you into clicking a link that infects your computer.
Social Engineering Attacks
As human beings, we are prone to error and misjudgment. We also rely on social interaction to make it through our days. Social engineering attacks prey on our instincts and emotions to gain access to software or data.
The most common tactic hackers use is to make a person believe they’re helping another who’s in need. For instance, a hacker might pose as a coworker or a family member asking for access to a bank account, a document or other sensitive data.
How Cybersecurity Threats Impact Your Business
Your business has valuable data it needs to protect, like sensitive client information. Without any sort of protection, your business is a sitting duck for hackers looking to attack. Here are some ways your business is deeply impacted by cybersecurity threats.
Halted Operations
A single cyber attack on your business can stop operations entirely, making it possible for you to lose new business and a lot of money.
Loss of Customer Trust
You have a lot of sensitive customer data to protect, and they rely on you to keep it secure. A single data breach has the potential to damage trust and drive customers to the competition.
Lost Revenue
When customers move on to another business they take their money with them. Your former customers are also likely to share their experience with colleagues, impacting potential future revenue. Also, your bottom line will take a hit if you had to pay a hefty fine to regain access to your devices and information.
Arm Your Business with a Local Managed Service Provider
Regardless of size, it’s clear that every business is vulnerable to cybersecurity threats each day. However, many business owners fail to protect their most valuable information to save money and time. Unprotected networks and data are like low-hanging fruit to hackers, and that’s a risk your business cannot afford.
If you’re ready to add greater security, it may be time to consider partnering with a managed service provider that’s local to you. Not only do you gain more time to focus on your business, but you also get…
- – Constant monitoring
- – Increased security
- – Support from local IT experts
- – Peace of mind
Cybersecurity threats are here to stay, so it’s more important than ever to arm your business against them. A local managed service provider, like CloudWyze, allows you to fully remove technology management from your to-do list. Their trusted experts manage it all so you can focus on growing your business and serving your customers.
See how CloudWyze can provide your business with managed IT solutions. Click here to contact us today!