August 11, 2023 Cybersecurity

Emerging Cybersecurity Threats and How To Protect Your Business

Reading Time: 3 minutes

Technology is advancing all the time, making it easier for businesses of all sizes to drive their operations, productivity and growth beyond all expectations. Unfortunately, there’s a flipside to this ideal digital transformation — an open door to a myriad of cybersecurity threats with severe consequences. Cybercriminals are continuously evolving their tactics, exploiting vulnerabilities and targeting sensitive data for financial gain or malicious intent.

To counter these ever-evolving threats effectively, businesses must employ robust cybersecurity measures. Here are some of the most prevalent cybersecurity trends and how to fortify your digital defenses by working with a managed IT consultant.

Ransomware Attacks

Ransomware attacks have emerged as one of the most dangerous cybersecurity threats in recent years — in 2022, data breaches linked to ransomware rose 41 percent, costing businesses an average of $4.54 million. This malicious software encrypts a company’s data, making it inaccessible until a ransom is paid. Cybercriminals are becoming increasingly sophisticated, utilizing phishing emails, malware-laden websites, and social engineering tactics to trick employees into unwittingly facilitating these attacks.

By understanding your unique vulnerabilities, a managed IT consultant can design multi-layered defense strategies to minimize the risk and impact of ransomware incidents — implementing robust firewalls, conducting regular data backups and providing employee training on identifying phishing attempts, ensuring your business is well-prepared to thwart ransomware attacks effectively.

Business Email Compromise

A type of phishing attack where a cyber scammer tricks an employee via email to send money or share private or classified company information, business email compromise can take shape in many ways — scams can range from simple data theft to CEO fraud, account compromise to false invoice schemes, and even bad actors posing as attorneys. 

A computer IT consultant will analyze email traffic for telltale signs, identify unusual requests for confidential information and implement role-based email access policies, helping minimize the risks of employees falling victim to a BEC scam. 

Internet of Things (IoT) Vulnerabilities 

The rapid proliferation of IoT devices — especially in post-pandemic hybrid work cultures — offers numerous benefits for businesses, but it also introduces new security challenges. IoT devices are often not designed with robust security measures, leaving them vulnerable to exploitation. Did you know that in the first half of 2021, there were 1.5 billion IoT-linked data breaches

Partnering with a skilled IT consultant ensures that your business can navigate this complex territory effectively. They can assess your IoT infrastructure, identify potential weaknesses and implement security protocols to safeguard against unauthorized access and data breaches.

Cloud Security Concerns

The adoption of cloud computing has revolutionized data storage and accessibility, but it has also raised concerns about data security and privacy. Misconfigurations, weak access controls, and shared responsibility models can expose sensitive information to cyber threats. In fact, in the last several years, we’ve witnessed a 150-percent increase in cloud environment vulnerabilities.

Amid growing concerns about cloud security, a managed IT and security services consultant offers invaluable guidance. By helping you navigate the intricacies of cloud security, they ensure that your data remains encrypted, access is tightly managed and your cloud infrastructure remains fortified.

A Menu of Managed IT Services

Engaging a managed IT and security services consultant offers several benefits in enhancing your business’s cybersecurity posture:

  • Tailored Security Solutions: Consultants will assess your business’s specific needs and develop customized security strategies to mitigate risks effectively.
  • 24/7 Monitoring: Security consultants offer round-the-clock monitoring, ensuring quick detection and response to potential threats.
  • Proactive Threat Mitigation: By staying informed about emerging threats, a consultant can implement proactive measures to safeguard your business against new and evolving risks.
  • Expertise and Experience: An IT consultant possesses specialized knowledge and experience in dealing with various cybersecurity challenges, allowing them to implement industry best practices effectively.
  • Incident Response and Recovery: In the unfortunate event of a data breach, consultants can guide your business through the incident response process and aid in recovery.

Consolidate Your Cybersecurity Protection

At SUCCESS, cybersecurity vigilance is our business. We take pride in protecting your data and, in turn, your reputation, your people and your bottom line. We espouse seeking balance, deeply caring, going above and beyond and always seeking improvement as some of our core values — those that we impart in our services. In trusting us with your managed computer security needs, keep your operations secure from cyber threats and grow beyond expectations.

Work with SUCCESS; contact us today