Protecting Your Business
From DDoS attacks to weak passwords, businesses can experience a large range of cyber security threats that can lead to data breaches, financial loss, and operational disruptions. Learn how your business can improve its security and help defend your business.
The most frequent cyber security threats experienced by businesses are:
Phishing attacks/BEC
What is it:
Phishing involves fraudulent emails or messages designed to trick employees into revealing sensitive information, such as passwords or financial details. BEC involves attackers posing as trusted contacts (such as a customer or vendor) to manipulate individuals into transferring money or sensitive information.
Impact:
Phishing and BEC scams can lead to data breaches, significant financial loss, and compromised systems.
Ransomware
What is it:
Ransomware is malware that encrypts a company’s data and demands a ransom for its release.
Impact:
SMBs often find it difficult to recover from ransomware attacks due to the high cost of recovery and lack of effective backups.
Insider threats
What is it:
These occur when employees or former employees intentionally or unintentionally compromise company security.
Impact:
SMBs may have less robust internal controls, making them more vulnerable to insider threats.
Malware and Viruses
What is it:
Malware is malicious software designed to disrupt, damage, or gain unauthorised access to systems.
Impact:
Malware can lead to data theft, system downtime, and significant operational disruptions.
Weak passwords
What is it:
Individuals using weak or easily guessable passwords make it easier for attackers to gain access to company systems.
Impact:
A weak password can lead to unauthorised access, exposing sensitive data or allowing further attacks.
Unpatched software/Vulnerabilities
What is it:
Cybercriminals exploit vulnerabilities in outdated or unpatched software to gain access to systems.
Impact:
Many SMBs fail to apply timely updates, leaving them exposed to attacks that exploit known vulnerabilities.
Social Engineering
What is it:
Social engineering involves manipulating people into giving up confidential information or performing actions that compromise security.
Impact:
Individuals may fall for scams, leading to unauthorised access or data breaches.
Denial of Service (DDoS) attacks
What is it:
DDoS attacks aim to overwhelm a company’s systems or networks, making them unavailable to users.
Impact:
SMBs can experience extended downtime, which disrupts operations and leads to loss of revenue.
Supply Chain/Third Party attacks
What is it:
Attackers target a third-party vendor or supplier to infiltrate the SMB’s network.
Impact:
SMBs often rely on third-party vendors, making them vulnerable to attacks through those connections.
Steps to improve the security posture and defences of your business:
Implement strong password policies
What to do:
Create strong, unique passwords for each account and enforce regular password changes.
How it helps:
Strong passwords reduce the risk of unauthorised access due to weak or easily guessed credentials.
Bonus:
Use password managers to securely store and generate complex passwords (e.g., LastPass, 1Password)
Enable Multi-Factor Authentication (MFA)
What to do:
Implement MFA for all critical systems and applications. This requires individuals to verify their identity using two or more methods (e.g., password + code from a mobile app).
How it helps:
Even if passwords are compromised, MFA provides an additional layer of security, making it harder for attackers to gain access.
Keep software and systems updated
What to do:
Regularly update operating systems, applications, and security software. Enable automatic updates where possible.
How it helps:
Software updates often contain patches for vulnerabilities that could be exploited by attackers. Keeping systems updated closes known security gaps.
Secure Wi-Fi Networks
What to do:
Ensure your business Wi-Fi networks are secure with strong encryption (WPA3 or WPA2) and use separate networks for guests and business operations.
How it helps:
Securing the Wi-Fi network prevents adversaries from accessing sensitive data or exploiting weak network configurations.
Conduct Regular Security Awareness Training
What to do:
Train employees to recognise common threats like phishing emails, social engineering, and ransomware. Regular refresher training should be conducted to keep them informed about new threats.
How it helps:
Employees are often the first line of defence, and well-informed staff can help prevent attacks by spotting suspicious activity before it causes harm.
Perform Regular Data Backups
What to do:
Regularly back up important data and store backups securely, preferably offsite or in the cloud.
How it helps:
Backups ensure that critical business data can be recovered in the event of a ransomware attack, system failure, or accidental data loss.
Restrict access to sensitive information
What to do:
Ensure that only authorised employees can access sensitive data. Limit administrator-level access to the fewest possible individuals.
How it helps:
Restricting access reduces the risk of accidental or intentional misuse of sensitive information and limits the damage caused by compromised accounts.
Have an Incident Response Plan
What to do:
Create and regularly update an incident response plan that outlines what to do in case of a security breach. Ensure the plan includes steps for communication, recovery, and legal reporting.
How it helps:
A clear, tested incident response plan minimises downtime, reduces the impact of an attack, and ensures quick and efficient recovery.
The most frequent cyber security threats experienced by businesses are:
What is it:
Phishing involves fraudulent emails or messages designed to trick employees into revealing sensitive information, such as passwords or financial details. BEC involves attackers posing as trusted contacts (such as a customer or vendor) to manipulate individuals into transferring money or sensitive information.
Impact:
Phishing and BEC scams can lead to data breaches, significant financial loss, and compromised systems.
What is it:
Ransomware is malware that encrypts a company’s data and demands a ransom for its release.
Impact:
SMBs often find it difficult to recover from ransomware attacks due to the high cost of recovery and lack of effective backups.
What is it:
These occur when employees or former employees intentionally or unintentionally compromise company security.
Impact:
SMBs may have less robust internal controls, making them more vulnerable to insider threats.
What is it:
Malware is malicious software designed to disrupt, damage, or gain unauthorised access to systems.
Impact:
Malware can lead to data theft, system downtime, and significant operational disruptions.
What is it:
Individuals using weak or easily guessable passwords make it easier for attackers to gain access to company systems.
Impact:
A weak password can lead to unauthorised access, exposing sensitive data or allowing further attacks.
What is it:
Cybercriminals exploit vulnerabilities in outdated or unpatched software to gain access to systems.
Impact:
Many SMBs fail to apply timely updates, leaving them exposed to attacks that exploit known vulnerabilities.
What is it:
Social engineering involves manipulating people into giving up confidential information or performing actions that compromise security.
Impact:
Individuals may fall for scams, leading to unauthorised access or data breaches.
What is it:
DDoS attacks aim to overwhelm a company’s systems or networks, making them unavailable to users.
Impact:
SMBs can experience extended downtime, which disrupts operations and leads to loss of revenue.
What is it:
Attackers target a third-party vendor or supplier to infiltrate the SMB’s network.
Impact:
SMBs often rely on third-party vendors, making them vulnerable to attacks through those connections.
Steps to improve the security posture and defences of your business:
What to do:
Create strong, unique passwords for each account and enforce regular password changes.
How it helps:
Strong passwords reduce the risk of unauthorised access due to weak or easily guessed credentials.
Bonus:
Use password managers to securely store and generate complex passwords (e.g., LastPass, 1Password)
What to do:
Implement MFA for all critical systems and applications. This requires individuals to verify their identity using two or more methods (e.g., password + code from a mobile app).
How it helps:
Even if passwords are compromised, MFA provides an additional layer of security, making it harder for attackers to gain access.
What to do:
Regularly update operating systems, applications, and security software. Enable automatic updates where possible.
How it helps:
Software updates often contain patches for vulnerabilities that could be exploited by attackers. Keeping systems updated closes known security gaps.
What to do:
Ensure your business Wi-Fi networks are secure with strong encryption (WPA3 or WPA2) and use separate networks for guests and business operations.
How it helps:
Securing the Wi-Fi network prevents adversaries from accessing sensitive data or exploiting weak network configurations.
What to do:
Train employees to recognise common threats like phishing emails, social engineering, and ransomware. Regular refresher training should be conducted to keep them informed about new threats.
How it helps:
Employees are often the first line of defence, and well-informed staff can help prevent attacks by spotting suspicious activity before it causes harm.
What to do:
Regularly back up important data and store backups securely, preferably offsite or in the cloud.
How it helps:
Backups ensure that critical business data can be recovered in the event of a ransomware attack, system failure, or accidental data loss.
What to do:
Ensure that only authorised employees can access sensitive data. Limit administrator-level access to the fewest possible individuals.
How it helps:
Restricting access reduces the risk of accidental or intentional misuse of sensitive information and limits the damage caused by compromised accounts.
What to do:
Create and regularly update an incident response plan that outlines what to do in case of a security breach. Ensure the plan includes steps for communication, recovery, and legal reporting.
How it helps:
A clear, tested incident response plan minimises downtime, reduces the impact of an attack, and ensures quick and efficient recovery.
