It is no hidden fact that we have become increasingly dependent on technology to carry out our day-to-day activities in our professional lives and personal lives. We now use technology for just about everything, in all areas of life. We rely on it to call our friends, send emails, watch TV, drive a car, navigate, check our finances. At almost any given moment of the day, we use some form of computer or electrical machine. When you contemplate your daily routine and count the number of technology gadgets you use in just one day, you will realise how important technology is in our lives.

And with each day, we also come across another news article regarding a cybersecurity attack. Just as technology is frequently evolving and melding seamlessly into our lives. Cybercriminals too are refining their tools and techniques, inventing new ways to infiltrate our systems successfully.

Unfortunately, due to the ever-changing nature of cyber threats, it is impossible to achieve complete security; nevertheless, early detection can assist organisations in avoiding harmful events.

To limit organisation’s vulnerability to cybersecurity threats, they must have the most up-to-date security measures in place.

What are the different types of cybersecurity threats? 

Before exploring the different types of threats, it is essential to understand what a cybersecurity threat is.

A Cybersecurity threat refers to any action taken to exploit a vulnerability in the system with an intention to either cause harm to the system or steal valuable information from it.

Some of the most common types of cybersecurity threats are listed below:

1. Ransomware

Ransomware is a type of malware, and once it enters your system, it prevents you from using or viewing your data and files.

Ignorance and inadequate understanding regarding security threats are the primary organisational weaknesses that cybercriminals seek to exploit. Attackers mislead you into accessing malicious links or downloading malicious software onto your systems, allowing them to control the device and files. Attackers then deny users access to their devices and files by encrypting or locking them. A ransom fee is demanded for access to be reinstated. 

2. Phishing

Phishing is a social engineering technique used by attackers to trick their victims into giving out sensitive information, including but not limited to personal data, login credentials, bank or card details. The attackers, in most cases, disguise themselves as trustworthy entities, sends malicious links through emails to their victims, and lure them into sharing sensitive data.

There are different phishing techniques, such as spear-phishing and whale phishing, used by cybercriminals to achieve their goals.

3. Cloud Vulnerability

More and more organisations are migrating their data and business processes to the cloud due to the long list of benefits it offers, and attackers are using this cloud adoption as an opportunity to attack vulnerabilities. Data stored online is under continuous threat of theft or loss. Cybercriminals may exploit existing security related flaws, take advantage of cloud misconfigurations, steal valuable information, or guess user login details to plant ransomware attacks. 

4. Denial-of-service attack (DoS)

DoS attacks are mainly launched when attackers aim to disable a computer or a network. A DoS attack floods the victim’s system or network with traffic making it difficult to respond to requests from their genuine website visitors . When an attack is launched using multiple compromised devices, it is known as ‘Distributed-Denial-of-Service’. 

5. Password attack

Hacking into the target organisation’s system by simply guessing the password is known as a password attack. For this purpose, attackers use different types of password cracking programs and create as many combinations as possible to keep themselves prepared for trial and error until they accomplish their goal of cracking the password. Using the names or dates of birth of family members, pets, favorite food, or destinations as passwords can be dangerous as one weak password can put the entire organisation at risk.

6. Insider Threats

Any threat posed by an organisation’s internal stakeholder, such as their employee, is an Insider threat. An employee may intentionally leak information valuable to the organisation to fulfill their motive. It could also result from unintentional actions that usually happen when the employees themselves are victims of the attacker. Typically, the attacker persuades employees to access or download a malicious link or software in such scenarios and illegally gains access to organisational data. Either way, the organisation is at risk.

How to counter cybersecurity threats? 

Businesses that depend entirely on antivirus software and firewalls to identify and protect themselves from cybersecurity threats are more likely to fall prey to cybercriminals’ tricks and face irreparable losses.    

Implementing strong cybersecurity measures does not make your organisation immune to cyber-attacks. Still, it can help lower your risk and keep you prepared to address such threats.

Below we list a few easy steps you can follow as a starting point to prevent yourself from potential cybersecurity threats.

  • Consult a cybersecurity expert and work towards implementing a solid security policy,
  • Educate your staff on how to identify threats,
  • Ensure you have a complex password policy in place and make use of multi-factor authentication,
  • Restrict access to critical data and files to just those who need it,
  • Regularly back up data,
  • Enable automatic updates for all devices.

Why is it vital to counter cybersecurity threats?

The ever-evolving technology has, without a doubt, brought along innumerable benefits, and our collective use and reliance on it continues to grow exponentially. Along with the comfort and convenience it provides, it also accompanied a variety of threats. In recent years, major corporations worldwide have been victims of cybercrime, experiencing it all from data loss, unauthorised access through to online impersonation, to mention a few.

Organisations of all sizes are at risk, especially those who do not take cybersecurity seriously to becoming easy targets for attackers. The decision to save some money today by skimping on advanced security may prove to be a costly affair in the future. To protect your business from any kind of loss, embarrassment, or reputational damage, you must prepare your organisation against cybersecurity threats.

Therefore, regardless of the industry you operate in or the size of your business, it is wise to invest in robust cybersecurity. 

A proactive approach can help organisations defend cyber-attacks in a better way. In the presence of a solid security framework, you can easily protect your data and systems from threats that are avoidable.

Conclusion   

Falling victim to a cybersecurity attack can seriously damage your business reputation. F1 Solutions, as an experienced managed service provider, works to protect Australian businesses from security breaches or events by taking swift action in the event of an attack. 

Whether working with small to medium-sized businesses, corporates, or government departments, we ensure our clients, and their stakeholders are kept safe. 

Our competitive advantage is that we successfully design, develop, and implement security strategies that match each organisation’s unique needs and the environment in which it operates.

Threats are evolving more quickly than ever; our deep level of subject matter expertise can help you implement appropriate measures and prevent risk.

Contact us today to discuss your security assessment.

Related Blogs

The ABCs of Ransomware

Security

You may have heard about the recent ransomware outbreaks throughout the world. You’ve probably thought something along the lines of “Do I need to do anything about this?”

Data Security for Small Businesses - Physical Protection

Security

Physical security refers to procedures meant to safeguard IT assets such as facilities, equipment, employees, resources, and other things against physical harm and illegal physical access. It is often neglected in favour of more technical risks such as hacking, malware, and cyberespionage.

Everything you need to know about Cybersecurity risk assessment

Security

Conducting an efficient risk assessment regularly is not only important for smooth day-to-day functioning but also saves the businesses’ funds and reputation from being tarnished in the long term.

Let’s get in touch