Top IT Security Threats to Modern Business

Internet security is a complicated sphere and we’re drifting in a cluster of data from domains across the globe. Cyber Security Breaches is a buzz word these days and it implicates the fact that ‘No one is Immune’. Threats have been hitting businesses exponentially at a pace that were never imagined couple of years back. Some major breaches (highlights) in the past few months –

  1. Acer online store hacked, millions of credit cards data were compromised
  2. Uber hacked for free rides
  3. Mark Zuckerberg’s Twitter and Pinterest accounts hacked
  4. Morgan Stanley pays $1 million fine over stolen customer data
  5. Singapore penalizes firms for data breaches

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From IT to BFSI and government organizations to logistics – No business is immune and it means that every organization/individual is vulnerable. Online presence, specifically website, is currently the most important asset for any industry. Unluckily, no website is completely protected from cyber-attacks and keeping it safe is not easy as buying a software.

Traditionally, hacking was practiced for fun without the intent of providing any financial loss to organizations or individuals. But in recent years, it has become more of a business, taking control of systems for financial benefits. RANSOMWARE is a key word, which is highlighted in the cyber security market. It is a malware that prevents or limits users from accessing their system, either by locking the system’s screen or by clutching the users’ files unless a compensation/ransom is paid. Ransom is in the form of Bitcoin. Organizations are left with no option except paying the ransom to get the access to minimize the business loss. The top 5 common security threats about which organizations need to be aware –

  • DDoS Attacks (Distributed Denial of Service) – Attacks are targeted on Application & Network layer of IT infrastructure. DDoS attack packages are available to anyone on the black market for very little money.
  • Phishing / Spear Phishing – This can be also called as Social Engineering. Fake emails or other electronic communications are used to acquire access or information which results in falling critical organizational information into the wrong hands.
  • Advance Persistent Threat – An attack which is unknown to an organization for a long period. Attackers use custom malicious codes (Malware) to steal the data.
  • Major Data Breaches – Financial, Media and Entertainment, Health Care, Retail and many more industries are highly vulnerable. A variety of methods is used to get sensitive information about enterprise companies. Business is disrupted; customer and company data is compromised and recovery costs are enormous.
  • Organized Cybercrime – Cybercriminals expertise lies in selling personal information in black market using ransoms & blackmails. Ultimately, this results in IP theft and business disruption due to compromised bank accounts.

An all-round approach is required to reduce the risk of wreaking havoc from hackers to your online information, whether it is a website, mail or profile accounts.

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