Protecting a business in 2023 is not only about physical security such as security guards at the entrance to your premises or CCTV cameras to keep the premises under surveillance.
Business owners must be as vigilant of their digital assets as they are of their physical assets.
Cybercriminals are becoming more inventive with cyber attacks on organisations each year. Only with the proper cybersecurity measures in place, can you be certain that security breaches will not impact your business.
Below we list four serious security risks that organisations should be aware of and putting measures in place to mitigate these risks.
1. Crime as a Service
You may have heard of ‘Security-as-a-Service’ (Saas), which you would see organisations subscribing to in order to securing, for example, their SAP environment. i.e. Organisations can subscribe to a service or solution provider to assist with SAP security and risk management. But what you may not have realised is that cyber criminals are not opposed to using similar services to achieve their goals.
‘Crime-as-a-Service’ (CaaS) has become a significant tool for cybercriminals over the past few years. With CaaS, if an individual wants to target a business but does not have the time or resources, they could pay another person to engage in a cyberattack on their behalf. Similarly, people can obtain the digital tools they require to perform a cyber hack themselves.
Businesses often assume that they would fly under the radar of significant hackers, but with CaaS on the rise, your organisation can easily be a target of attacks.
2. Cloud Security
If you are operating like most businesses in 2023, then you are likely using the cloud to some extent. For example, you may have all your organisations systems set up through the cloud, allowing you to access your computer interface, files, and programs remotely from any device. Alternatively, your organisation might have set up cloud storage for all your documents and digital resources.
Securing your systems or data on the cloud is imperative to running a successful business. Any significant attack on your cloud operation could cause an outage that impacts your uptime by minutes, hours, or even days.
3. Internet of Things Devices
These days, devices such as vacuums, security cameras, fridges, and even microwaves can connect to the internet.
Consider your office or business premises relies on Internet of Things (IoT) devices. Cybercriminals will often target these devices as an entry point into your network. Most IoT devices do not have the most robust security measures, which can create a weak point for your entire network.
Only cybersecurity personnel can determine if an IoT device is safe to install or if you can implement specific security measures to ensure that it does not allow entry into your systems.
Even though cyberattacks can happen in the most complex and unusual ways, criminals still rely on the most basic of actions at times. Email phishing scams are still very common and can pose a severe threat to your business.
You must ensure that your employees are aware of scams, and that they take precautions when opening emails, text messages, or any links they are sent when logged into a company network. Firms can put measures in place that provide warnings next to suspicious emails or easy tools that employees can use to report a phishing email.
The beauty of the digital age of commerce is that a business can succeed despite the most saturated market environments. However, whether you are opening a restaurant, creating a coworking space, offering print services, or selling goods online, your organisation could be the target of a cyberattack.
Cyber criminals do not discriminate when it comes to the organisations that they target. Between CaaS and the frequency at which prominent hackers go after businesses, your company is constantly under serious threat.