Cybercrime is nothing new, but increased levels of connectivity, remote working, reliance on technology, and automation mean the risk of attack is rising rapidly. In this article, we look at the common types of cybercrime and how you can protect your business against them.
The coronavirus pandemic has made many organisations more vulnerable to cyber-attacks because of :
- Relaxed control environment;
- Revised processes and procedures and
- Changing employee workforce profiles
All criminals target vulnerabilities, and this is no different online. Gaps in your defences can be targeted both at a human and system level.
Pandemic aside, the last five years have seen several significant data security breaches at high-profile organisations. Businesses must be better prepared and equipped to identify and respond to digital threats. Even larger corporate organisations that invest significantly in IT security must stay constantly up to date with the evolving cyber threat landscape.
There are trends and patterns organisations can look for to better prepare for what will likely be an inevitable occurrence for most.
Cybercriminals are constantly finding new ways to exploit vulnerabilities, but the most common types of cyber-attack include:
- Social engineering – criminals manipulate people to gain access to confidential and sensitive information.
- Phishing – criminals send emails pretending to be someone else, often an organisation, to obtain key information or a fund transfer.
- Identity theft – the deliberate and intentional use of someone else’s identity and credentials for gain.
- Spam emails – unsolicited emails which are sent in bulk.
- Malware – a type of software that is designed to disrupt systems.
- Ransomware – a type of malware that blocks access to data and systems until payment is made by the organisation or person under-attack
- Whaling – targets those in senior positions for financial gain or access to sensitive information.
- Island hopping – supply chain and third parties are used to target another organisation, usually, one that’s bigger or more complex.
Going by the latest survey, with more people working from home, there has been a 25% rise in cyber threats. Indian companies are a soft target for cyber-attacks as hackers steal important data and leak it on public platforms. The survey said that 94% of security professionals believe that the pandemic has only increased the level of cyberthreat. They said that it is difficult to return to pre-pandemic levels with 73% of Indian organisations reporting at least a 25% increase in the number of cyberattacks.
Cybercriminals don’t just target large organisations. Data is king when it comes to cyber-crime, and cybercriminals are on the hunt for vulnerabilities wherever they exist. Weak IT controls can grant access to systems and provide cybercriminals with a route to underlying business and personnel data.
A multilayer approach to prevention is your best defence against sophisticated, carefully targeted attacks. Engaging a Managed Security Service Provider (MSSP) can help you stay ahead of attacks by fast-evolving threats.
BlueVoyant provides advanced cyber threat intelligence, managed security services, and proactive professional services to businesses of all sizes.
How to protect yourself against cybercrime
Keep software and operating system updated
Keeping your software and operating system up to date ensures that you benefit from the latest security patches to protect your computer
Use anti-virus software and keep it updated
Using anti-virus or a comprehensive internet security solution like Kaspersky Total Security is a smart way to protect your system from attacks
Anti-virus software allows you to scan, detect and remove threats before they become a problem. Having this protection in place helps to protect your computer and your data from cybercrime, giving you peace of mind.
If you use anti-virus software, make sure you keep it updated to get the best level of protection.
Use strong passwords
Be sure to use strong passwords that people will not guess and do not record them anywhere. Or use a reputable password manager to generate strong passwords randomly to make this easier.
Never open attachments in spam emails
A classic way that computers get infected by malware attacks and other forms of cybercrime is via email attachments in spam emails. Never open an attachment from a sender you do not know.
Do not click on links in spam emails or untrusted websites
Another way people become victims of cybercrime is by clicking on links in spam emails or other messages, or unfamiliar websites. Avoid doing this to stay safe online.
Do not give out personal information unless secure
Never give out personal data over the phone or via email unless you are completely sure the line or email is secure. Make certain that you are speaking to the person you think you are.
Contact companies directly about suspicious requests
If you get asked for data from a company that has called you, hang up. Call them back using the number on their official website to ensure you are speaking to them and not a cybercriminal.
Ideally, use a different phone because cybercriminals can hold the line open. When you think you’ve re-dialled, they can pretend to be from the bank or other organization that you think you’re speaking to.
Be mindful of which website URLs you visit
Keep an eye on the URLs you are clicking on. Do they look legitimate? Avoid clicking on links with unfamiliar or spammy looking URLs.
If your internet security product includes functionality to secure online transactions, ensure it is enabled before carrying out financial transactions online.
Keep an eye on the URLs you are clicking on. Do they look legitimate? Avoid clicking on links with unfamiliar or spammy looking URLs.
Keep an eye on your bank statements
Keep an eye on your bank statements and query any unfamiliar transactions with the bank. The bank can investigate whether they are fraudulent.