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Is your company vulnerable? Identify cyber security risks in your network

Figure out if your company is at risk and identify cybersecurity risks today. Here’s what to look out for!

What is cybersecurity risk?

Cybersecurity risk considers three different factors to prioritize infrastructure development.

  • Threat: How likely is it that will exploit a vulnerability?
  • Vulnerability: weakness in your network
  • Information value: the value of the information stored

To calculate your cybersecurity risk, use the following formula: Threat x Vulnerability x Information Value.

For example, if you store high-value information on an operating system with a version 2.1.2 vulnerability, your cybersecurity risk could be high. However, if you have a dynamic IT team that is aware of the vulnerability and updates the software, the risk is low, even if the information value remains high.

How do you identify cybersecurity threats?

Cybersecurity threats are identified through a risk assessment.

These assessments are used to identify vulnerabilities, assess cybersecurity threats, and prioritize based on risk levels. To this end, the organization’s operations, systems, and stored information are examined.

This process typically begins with several primary objectives

  • Identifying the company’s critical information technology assets
  • Deciding which data breach would have the most significant impact on the company
  • Identifying cybersecurity threats
  • Assessing the potential impact of each threat
  • Identifying internal and external vulnerabilities
  • Assessing the likelihood that will exploit each threat
  • Identifying the types of attacks that could affect the company’s ability to function
  • Deciding what level of risk the organization can take

Types of cyber threats

Malware: Made up of the words “malicious” and “software,” malware is a type of cyber threat that aims to harm a computer, system, or data. Examples include adware, ransomware, spyware, Trojans, viruses, and worms.

Phishing is a specific cybersecurity threat in which cybercriminals send fake emails (often using social engineering) that trick clients into clicking on a link or responding to data in hopes of stealing a user’s confidential information.

Spear phishing: Spear phishing is just a targeted phishing strike, such as an assault on business executives (additionally called “whaling”) or government officials.

Man-in-the-middle attack: An MITM attack is when an attacker intercepts communications between two parties to steal information, spy, corrupt data, or sabotage communications.

Trojan: A Trojan virus is malware often disguised as legitimate software to access a user’s system.

Ransomware: Ransomware is malware that rejects access to a computer system or data until a certain ransom is paid.

Denial-of-service attack or distributed denial-of-service attack (DDoS):  A DDoS attack occurs when several endangered computer systems attack a target, such as a web server, site, or network, resulting in a denial-of-service attack.

IoT device attacks: IoT (Internet of Things) connects devices over the Internet, and hackers can exploit Internet connectivity to steal data.

Data breaches: An information breach is a security incident where information is accessed unlawfully.

Malware on mobile apps: Most mobile device attacks occur via malware or malicious WLAN.

Signs that your company may be vulnerable to cybersecurity attacks

Sometimes you don’t realize something is wrong until it’s too late, but there are signs that your company may have cybersecurity vulnerabilities.

1. You don’t have a cybersecurity strategy

If you don’t have a cybersecurity strategy, your company is likely much more vulnerable to cybersecurity attacks.

When you read about hacks and significant data breaches, they usually involve large companies, so it’s easy to assume that your small business won’t be affected. Unfortunately, that’s not the case; each is a target.

The only method to limit the risk is to plan and implement the right strategies.

2. You are utilizing an old operating system

It cannot be apparent to keep up with technology. Do you get used to one operating system sooner than a new one replaces it?

It’s tempting to think that it’s better to stick with what you know, but security is one reason for the updates. The constant updates you keep downloading have a lot to do with security.

When cybercriminals find vulnerabilities in software, the manufacturer releases an update that closes the vulnerability.

If you are utilizing an outdated operating system, these fixes are no longer released, which significantly increases the threat to your cybersecurity.

3. Your data is not adequately backed up

If your data is not adequately backed up, the potential risk of a cyber attack increases.

One factor for this is that one of the most common attacks, ransomware attacks, blocks access to data and requires payment to restore access. The longer it has been given that you last backed up your data, the more data is lost, which increases the value of the ransomware attack.

If your data is adequately backed up, the risk is reduced because you always have access to an up-to-date copy of your data.

4. Your employees use their own devices for work

When employees use their devices for work, you have less control over security settings, antivirus programs, software updates, and whatever else.

You also blow up over that has access to the gadget.

Your employee may be reasonably security conscious, but what if their child has access to the laptop and accidentally downloads a corrupted file? It’s much harder to control what happens on personal devices, which increases the risk.

5. Your systems seem to slow down

If you notice that your systems are slowing down or your Internet connection keeps dropping, this could signify a denial of service (DoS) attack.

One of the signs that you’re facing cybersecurity threats is that sometimes things don’t feel right. Sure, your software may slow down over time, but it may be time to contact your IT support if performance changes.

What organizations should protect themselves from data protection threats?

The easy response is that every organization must protect itself from data safety hazards.

For cybercriminals, the question is not how big a company they are targeting but how easy a target it is. If you don’t have the suitable systems to protect against cybersecurity threats, you become an easy target, whether a large or small business.

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