The Most Common Cyber Attacks on Online Businesses

Would you leave your house unlocked when you are going out? Would you leave the keys in your car while you are doing some errands? No matter who you ask, the answer will always be no. We will take whatever steps are needed to protect our property. We will install security systems, use various security gadgets such as a Ring doorbell, turn on the alarm, and triple check everything is locked properly every time we leave the house. How many times have you had to go back inside to check if you turned off the oven or the iron even though you already checked it? Internet security should be the same.

Most people only hear about high-level breaches that happen to the big companies which is why they tend to think it won’t happen to them. But the truth is that there are a lot of different types of cyber-attacks
and few of them can hit closer to home than you might think.

In today’s digital world, most of our daily activities are happening on the internet. Now after the beginning of the Covid 19 pandemic, this is truer than ever. From our daily communication, shopping, working, dealing with our financial responsibilities to entertainment, everything is happening online. It is the responsibility of all businesses to protect their customers and in order to do it, they need to be aware of the threats they are facing and how to stop them.

This article will cover the top 3 most common cyber attacks online businesses are facing.

 1. Phishing Attacks

The biggest and the most damaging threat businesses and organizations are facing are phishing attacks.

This is a form of social engineering attack in which a cyber criminal pretends to be a trusted contact and by doing so they trick the user into handing over valuable and sensitive information. That could be account or credit card details, credentials, some intellectual property, or anything else they might need.

Did you know that 91% of attacks launch with a phishing email? These types of scams target everyone, and they are usually the easiest to accomplish. Who would’ve questioned an email that looks like it has been sent by your bank or by your CEO?

Social engineering attacks explain how easy it is actually to exploit human psychology and why everyone needs to be aware of all the risks they might encounter in their businesses. Education is the first step in any security process, but especially when it comes to social engineering attacks.

2. Malware Attack

The second biggest threat businesses and organizations are facing are Malware Attacks.
In the simplest terms malware attack is a process in which cybercriminals use malicious software that they install on users’ devices without their knowledge so they can access their sensitive data, gain access to the network, damage the device or destroy data. It is a broad term under which you will find viruses, spyware, ransomware, and Trojan horses.

You can get malware from suspicious downloads, spam emails, or by connecting to other infected devices. Can you imagine what kind of damage that can do to a small business?

3. Ransomware

Ransomware is one of the most lucrative forms of attacks. It is a process of encrypting data and blocking it so it cannot be used or accessed, and then forcing the business or company in question to pay a ransom in order to unlock the data.

The business then needs to make a difficult decision. Will they pay the ransom and lose the money or will they risk the loss of the data?

Recently cybercriminals have been using ransomware attacks on medical organizations because in most cases they don’t have a choice. With lives hanging in the balance, they can’t afford to wait for the problem to go away. But they are not the only ones at risk. According to recent research, businesses in 2021 will fall victim to a ransomware attack every 11 seconds. This puts all businesses in danger, no matter how big or small they are.

The priority of every business or organization needs to be online security. No matter the size of their business they handle a lot of private and confidential data from their clients that they need to make sure nobody can exploit them.

The first step to efficient online security is educating yourself and your employees so they know which threats they need to look after, but also educating your user so they can take all the steps necessary to protect themselves. So, by working together and creating an efficient online security program you can not only protect your users but also your business.