Hundreds of thousands of people report being victims of cyber security crime every year, and such cases can hurt your business. It is worth noting that SMEs are just as likely to become victims of cybercrime as large corporations.
These crimes are implemented in different ways, and we shall look at some of the most common ones.
1. Phishing
Phishing is described as a fraudulent attempt to obtain sensitive information from individuals and companies by impersonating another entity. The most common phishing method is via email.
With this form of phishing, scammers will send emails that seem to be from legitimate organizations and bodies, and these messages contain links to fraudulent websites. Once you click the link and provide your login details, the scammers will use this information to access your details.
To avoid phishing scams, you should always be wary of emails that prompt you to click the links and instead google the company websites. Also, you can check whether the website name is spelt correctly and if it has extra numbers. Such details usually indicate that the email is from a scammer.
You should also consider getting a cyber security services provider.
2. Cyber Extortion
Extortion is also a common cyber security crime, and it can be extremely devastating to your business. With extortion, criminals have to use Distributed Denial of Service (DDoS) attacks to get control of critical control panels of your devices. With DDoS attacks, the hackers can delete or modify a company’s files, and they can also knock the business out of the internet.
Cyber extortion can also be implemented using ransomware or other forms of malware. In order to get access to your files and passwords, you will be required to pay a fee. Cyber extortion can be prevented by installing anti-malware software. You can also create file backups and train members of your team to recognize phishing attacks.
3. Data Breaches
Data breaches can be extremely devastating to small and medium-sized enterprises. Statistics indicate that 60% of SMEs shut down within six months of getting a data breach. Larger businesses may be more resilient, but their operations are also affected significantly by such attacks.
A key issue with data breaches is the fact that customers will blame the management of the company for the attack and will likely move to other businesses. The tarnishing of the brand name will also turn away potential customers.
It is worth noting that fixing data breaches can take a lot of money, and this will throw the company off its budget. Another issue that results from data breaches is the loss of good employees. Some will leave because of the stress involves in fixing the issue, while others will have to be released because of the tight budget.
To prevent data breaches, you should limit employee access to valuable data. You should also vet third-party vendors as they can open you up to security issues.
Conclusion
Cyber security crimes are becoming more common, and they can be extremely devastating to companies. The most common cyber security crimes are phishing attacks, cyber extortion, and data breaches.
You should take steps to prevent such attacks as they can easily lead to the downfall of your business. It might be a good option to hire the services of a cyber security company; you can find the best companies in this article here.