Common cyberthreats every small business should know about

Posted on Friday August 16, 2024

Cyberthreats are on the rise, and no business is immune. In fact, small businesses are often targeted because they often do not have the same robust cybersecurity measures that bigger companies have in place. However, by knowing what to look out for, you can take proactive steps to defend your business from these attacks. Below, we'll discuss common cyberthreats and how you can defend against them.

Malware

Malware refers to any malicious software designed to steal data, disrupt operations, or damage computer systems. This umbrella term covers various cyberthreats such as:

• Viruses – self-replicating programs that spread from computer to computer
• Spyware – software that secretly monitors and collects personal information
• Adware – programs that display unwanted advertisements
• Trojan horses – malicious software disguised as legitimate programs
• Ransomware – software that blocks access to your data until you pay a ransom

To safeguard your business from malware, you should have top-notch anti-malware protection in place. You also need to educate your team about common malware and emphasize the importance of avoiding suspicious links, websites, and files to prevent infection. You can implement these and other security measures yourself, or you can team up with a managed IT services provider (MSP) who can handle all this for you, easing the burden of managing your cybersecurity and giving you peace of mind.

Phishing

Phishing is a deceptive practice where cybercriminals send fraudulent messages that appear to come from trustworthy entities to trick victims into revealing personal or financial information. Such scams often lead to identity theft, financial loss, and data breaches.

You can protect your business against phishing scams by conducting employee security awareness training where you can teach them to spot common phishing signs, including:

• Urgent requests for personal information – Legitimate businesses rarely ask for sensitive data through email.
• Suspicious links or attachments – Hover over links to check the actual URL before clicking. Avoid opening attachments from unknown senders.
• Poor grammar and spelling – Phishing emails often contain grammatical or spelling errors.
• Generic greetings – Emails addressed to "Dear Customer" or "Dear User" are likely phishing attempts.
• Imitation of trusted brands – Cybercriminals often mimic well-known companies to gain trust.

By teaching your employees to recognize these red flags, you can significantly reduce the risk of falling victim to a phishing attack.

Distributed denial-of-service (DDoS)

A DDoS attack happens when cybercriminals bombard your servers with overwhelming amounts of traffic, causing these to crash or become inaccessible. This disruption can significantly impact your business operations, making it difficult for customers to access your services and employees to do their jobs.

DDoS attacks can be difficult to defend against because they can come from multiple sources at the same time. The effects can be long-lasting, with recovery sometimes taking days or even weeks. An MSP can help protect your business from DDoS attacks. They can continuously monitor your servers, swiftly identify and counteract malicious traffic, and create a detailed response plan to minimize downtime if an attack occurs.

Password attacks

In a password attack, cybercriminals try to break into your systems by stealing or cracking passwords. They may use brute force methods (i.e., trying countless password combinations) or use social engineering tactics to get people to reveal their passwords. Using weak or repetitive passwords makes your business an easy target for these attacks. Once in your systems, cybercriminals can steal data, install harmful software, or cause other damage.

To protect against password attacks, require your employees to use strong, unique passwords. Enable multifactor authentication (MFA) whenever possible. MFA requires users to provide more than just their password to access systems. This means even if a cybercriminal gets hold of an employee's password, they'll still need another form of identification to get in.

Understanding these common cyberthreats is the first step to safeguarding your business. To better boost your company’s security posture, partner with an MSP. We can provide expert guidance, implement security measures, and respond to incidents effectively.