Watch These Business Security Risks in 2019

As more and more companies go to the internet to hook up their infrastructure and corporate data, the risk of getting hijacked or hacked has never been higher.

This is no more evident in the Experian hack we saw last year where over 100 million people’s financial data was exposed.

Prevention is Key

Therefore, companies need to stay up to date with the latest business security technology to make sure they are not next. While many threats are still physical, the vast majority will be coming from online sources as more information goes digital.

According to an independent study by the Ponemon Institute, the average cost of a data breach for a company is $3.86 million dollars. That’s a high cost for losing valuable company data that you can’t get back.

• Crypto-jacking

  • With the rise of Crypto currencies, criminals no longer need to rob banks in person- they just need to be good on a computer. Crypto-jacking occurs when hackers trick their victims into downloading mining codes onto their computer. This allows them to use their computer’s resources to mine cryptocurrency, which badly drains computer resources like performance and memory.

• Ransomware

  • Ransomware is a form of malware where the hacker encrypts the victim’s data and then demands ransom for its decryption. As these attacks become more popular, cybercrime is quickly becoming a multibillion dollar industry with no end in sight. The best method for dealing with ransomware is through prevention such as antivirus programs and regularly clearing your internet browser.

• Cloud Cyber Security Threats

  • The cloud has revolutionized the way we store and use data on the internet. Unfortunately, it has also given hackers a much easier way to steal company data and cause havoc on a very large scale. Threats include misconfigured Amazon buckets and Cloud malware. Companies can deal with these threats the best way through good prevention techniques such as secure cloud migration.

• Directed Denial-of-service (DDOS) attacks

  • These cyber-attacks target a businesses’ website or online presence, slowing down and overwhelming their servers by repeatedly requesting for data. This attack can be crushing if the company sells their products and services online, costing them thousands, or even millions, a day in losses.

We Need to be Responsible and Aware

Cyber-attacks are getting smarter and more dangerous every year. And with the looming rise of A.I, we will need to be more responsible with our technology than ever before. That’s why, for 2019, any company with an online presence should have cyber-security in their budgets. Or consider calling in a professional to beef up business security with state-of-the-art locks and cameras to protect from theft and burglary.

It’s not enough to simply think about it anymore. The threats are big enough to hit you and your company’s personal credit cards and online money accounts. So it’s time to get busy or face the numbers.