Cybersecurity Attacks Don’t Discriminate: Is Your Company Vulnerable?

cyber security

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Cybersecurity attacks are no longer considered a “once-in-a-blue-moon” event. It’s an epidemic spreading aggressively, worldwide, across all sectors.

A Juniper research study forecasts that by 2023, cybercriminals are projected to steal 33 billion records, including name, address, and other personal information. That’s just one of the many shocking cybersecurity statistics that, on one hand, paints a grim picture about how susceptible your networks, programs, and systems are at being accessed by criminals; while, on the other hand, it gives you the foresight to be prepared through conducting penetration testing. Such tests help identify weak spots and shield your cyberspace assets with a comprehensive cybersecurity solution.  

No Business, Including Yours, is Too Small for Protection

Think your business is too small to be a victim of cybercrime? Well, here’s something that might change your mind— 43% of cybersecurity attacks target small businesses, and 60% of them go out of business within just 6 months of being hit.

Small businesses are easy targets because they naively assuming that criminals exclusively target multinational firms. But attackers are aware of this misconception and exploit this unpreparedness to their malicious advantage.

The impact can be disastrous with affected companies standing to lose a staggering $2.2 million in the aftermath of a cyber attack. Losing millions might just cause a small dent in a large corporation, but when it comes to medium and small businesses, that amount can sometimes stop vital operations, or even bring down the entire business.

Cybercrimes Are Becoming as Sophisticated as the Solution

We live in an era where data is as valuable as gold, and hackers will do anything to get their hands on it. While solutions do exist to beat the known problems, cybercrimes are getting sophisticated by the day. Hackers are constantly looking for new ways to penetrate vulnerable spots to gain a foothold within an organization’s network, to get access to databases of employee and customer information, to steal credentials and more.

Currently, some of the most notable cybersecurity threats include Advanced Persistent Threats, insider attacks, data leaks, malware and ransomware, phishing attacks, brute force login, Denial of Service (DoS), Identity Theft, Social Engineering etc. For cybercriminals, targeting companies is much more lucrative than targeting an individual user. And, while the attacks may be varied, they all aim to steal and abuse company and consumer data to their advantage.

With IoT devices gaining more traction in workplaces, it adds even more vulnerabilities to a company’s cyber-ecosystem.  Many devices are being used to connect to the internet and to collect and distribute data. This flow of information through these IoT devices needs to be safeguarded with effective security measures so that the hackers cannot prod the barriers to seep into the corporate network.

Cybersecurity Solutions Are an Investment Not an Expense

In the cybersecurity landscape, taking preventative security measures to mitigate the risk of an attack on your company’s networks, servers, and other endpoints is much less expensive than cleaning up the astronomical mess that intrusions and breaches can leave you with. And the severity of losses goes beyond money. Your company’s reputation among your workers and the consumers will also be tarnished

Although securing your IT infrastructure might seem like a daunting task at first, it is an effort worth your time.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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