Cyber Risks for Your Business
Cyber-related risks pose threats to your company that could result in an unauthorized access to your systems and data. This could lead cybersecurity risks to data breaches, ransom demands property destruction, disruption of services and financial losses.
Cyberattacks are most commonly phishing, malware, and social engineering. Malware attacks are advancing rapidly as hackers discover new ways to bypass security systems. These changes require a continuous game of cat and mouse between cybersecurity teams and attackers. In many cases, by the time cybersecurity analysts discover an attack, it could be too late to stop it from impacting the business.
Other forms of cyberattacks include advanced persistent threats (APTs) that are slow, stealthy and aimed at specific targets to gain sensitive information. DDoS attacks inundate systems with Internet traffic to disrupt operations. They also function as a mask for more intruder attacks. Ransomware attacks decrypt information and demand payment to unlock. And supply chain attacks compromise software or hardware before it gets to the user, exploiting the trust of third parties.
It is also important to consider the threat posed by employees in your organization who have access to systems and information. This includes disgruntled employees and malicious contractors. They may harbor a grudge or an incentive to harm the business and are particularly difficult to spot. Misconfigurations or vulnerabilities in your IT system could be exploited by hackers. This includes failing to update software on your computer and failing to implement the process of segmenting networks to separate different types data.