Network Security

Top 4 threats to network security

Your network can be the first place for a security threat to appear. In this article we discuss the threats to look out for.

Whether your business is transitioning back to an office atmosphere or your workforce will continue to work remotely, you are more vulnerable to network security attacks than ever before. Threat actors (those who represent a security risk to your network) are after the data on your network and are working hard to obtain it. Here are the top four network security concerns to assist you comprehend the issue.

Ransomware

Ransomware is a serious threat to your business, especially because it is so difficult to detect. 

Gone are the days when you had a virus and it just showed up and said hello. Ransomware infiltrates your system, embeds itself in everything, and then attacks! 

It can take weeks or even months for a breach to be discovered. The time it takes to identify something is increasing. 

In 2016, Fireye reported a global average of 146 days. According to IBM calculations, it is already 228 days, according to a Varonis report from 2021. 

A data breach’s cost is calculated in terms of time, money, and reputational damage. You must have the assurance that you are safe.

Social engineering

Why should threat actors put forth the effort to get past your endpoint and network protection when they can use your employees to do so? This fundamental concept is what makes social engineering such a danger to network security. 

“Psychological manipulation to fool users into making security blunders or giving out sensitive information,” according to the best definition we’ve seen. 

Phishing assaults (emails posing as a senior member of staff in order to obtain information or money) are the most popular tool in the social engineering toolkit. 

Another example is hacked websites. Cyber hackers are always trying to break into trusted websites in order to steal information or gain access to your network.

In the real world, a developing method of attack is being used. Malware-infected USB sticks are put outside of targets in the hopes that they would be picked up. 

People are intrigued when they are referred to as “staff bonuses” or “salary raises.” When they plug them into their laptops, the malware is released, and the problems begin. 

This is a staff education challenge for you, and our blog has a number of items that can help.

Crypto-mining

You can obtain crypto-currencies in one of two ways: by purchasing them or by mining for them. Crypto-mining necessitates a significant amount of computer power. 

Breaching your network and using your devices’ computing power is a growing issue. 

According to Cisco statistics, 69 percent of businesses have faced some kind of harm as a result of this. As the value of crypto-currencies rises, so does the degree of activity. 

Bitcoin was trading at £45,000 per coin at the time of writing, a new high.

Although this threat appears to be minor at first, it frequently serves as a stepping stone to more serious cybercrime. They can do a lot more than just use your processing power once they’re in. 

You may have been hacked by a cyberminer if your AWS computing charges have increased or your bandwidth is always blocked.

DDoS attacks

Although Systems IT does not provide website hosting, this is an increasing issue, which is why we’re talking about it now. 

DDoS (distributed denial of service) attacks grew by 55% in the 15 months leading up to March 2021, with NSFOCUS reporting that they had detected over 152,000 attacks by December 2020. 

The majority of DDoS attacks appear to be motivated by people disagreeing with your policies/beliefs or by you offending someone – whether intentionally or unintentionally. In the first half of 2021, the biotech and pharmaceutical industries were the most targeted. 

A network security breach has three costs, as previously stated:

  1. Time: a significant amount of time is lost, both in attempting to repair the damage and simply in downtime as your staff is unable to function. 
  2. Money: Whether you pay a ransom to get your data back or merely calculate the cost of lost revenue, it can soon add up. 
  3. Reputation: there are three considerations to consider here:
    1. Do you wish to inform your clients that your company has been hacked? What will they think of you, and will they decide to work with you again? 
    2. If your Personally Identifiable Information (PII) data has been accessed, you must notify everyone who may be affected, according to ICO regulations. The combination of a reputational risk and an increase in “ambulance-chasing” legal action can be devastating to your company. 
    3. What will your colleagues think of you if you refuse to increase the security around your network? Of course, enhancing security has a cost, but isn’t it far less than the costs we’ve discussed?

Survival

In the end, it could be the difference between your company growing and surviving. 

Within six months, 50% of organisations that have had a data breach have shut down. 

Even if they do survive, the impact of all of the above on the bottom line will be felt for a long time. 

These risks frequently go undiscovered for weeks or months, as stated earlier in the essay. 

Over time, the amount of damage is steadily increasing. 

The sooner you identify a breach and begin responding, the less damage is done.

The purpose of this article was to inform you about the threats that your network and business face. 

The next one will focus on how you can defend yourself. Simply subscribe here if you don’t want to miss that article. 

If none of the expenses listed above appeal to you, let’s discuss how ATS can assist you in protecting your network. Call us on 01903 357002 or send us an email. With cyber crime kill chains on the rise, it has never been more important to ensure you are protected than now. Check out out cyber security services here

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