It's a fact that every business, regardless of size or industry, is at risk of cyberattacks. And as these threats become more pressing by the day, it's becoming even more critical to understand why cybercriminals do what they do. By knowing how malicious actors operate and their reasons for launching cyberattacks, you can better be prepared with the right knowledge and tools necessary for safeguarding your data against their tactics.
Here are the top reasons your business becomes a cybercrime target.
Your business holds valuable information
Cybercriminals target businesses that hold valuable information like customer data for several reasons. For one, these kinds of data can be used to commit identity theft, which is one of the most common and lucrative outcomes of cybercrime. Businesses with highly sensitive data, such as those in finance or government, can also be targeted in order for cybercriminals to acquire confidential information such as trade secrets and intellectual property. This information can then be sold on the black market for a high price. Cybercriminals may also attempt to extort organizations by threatening to expose confidential data unless they are paid a ransom.
Your organization lacks robust cybersecurity measures
Hackers often target smaller businesses with security systems that are less sophisticated than those of large organizations. This is because it's much easier to break into weak security protocols or systems with unpatched vulnerabilities, so cybercriminals can get the information they need easily.
Cybercriminals, therefore, look for businesses with weak passwords, outdated software, and unprotected networks. Exploiting these weaknesses in an organization's security system makes it a walk in the park for cybercriminals to steal data, disrupt operations, and cause financial losses or reputational damage.
You have mismanaged access rights
Cybercriminals can exploit weak security to gain unauthorized access to sensitive information such as customer records, financial data, and intellectual property, which can then be sold on the dark web or used for extortion. Cybercriminals may also use this opportunity to introduce ransomware into a system that would encrypt the business’s files until a ransom is paid. These make businesses with managed access rights extremely vulnerable — and hence, easy targets for cybercrime.
Your workforce has inadequate security awareness training
Cybercriminals know that the human component is one of the most unsecured aspects of a business's cybersecurity, and they wouldn't pass up an opportunity to exploit this vulnerability. Cybercriminals will weaponize employees' being unaware of and unprepared for potential risks, taking advantage of unsuspecting victims by sending malicious emails, planting malware on a computer, or infiltrating a system.
How can a managed IT services provider (MSP) help protect your business from cyberattacks?
MSPs are experts at detecting potential vulnerabilities and ensuring that systems are up to date with the latest security patches. They also offer around-the-clock monitoring of networks and systems, allowing them to quickly detect any malicious activity or suspicious behavior so you stay one step ahead of any potential cyberthreats.
MSPs can also provide access control services to ensure that only authorized personnel are privy to sensitive information or have access to secure areas. Plus, they can help create an effective response plan in case of a cybersecurity emergency, ensuring that you have the necessary protocols for dealing with a breach. This includes notifying affected parties, restoring data where needed, identifying the source of the attack, and any other steps required to prevent a similar attack from occurring again in the future.
And if you need a hand in educating your employees on cybersecurity best practices, MSPs can provide effective training in essential topics. For instance, they can teach your team how to set strong passwords, spot phishing emails, and be careful when clicking on links sent via email or social media sites.
Are you looking for a reliable MSP that can protect your business from cyberattacks? Contact Cutting Edge Network Technologies today. With years of experience in cybersecurity, our team of experts can provide comprehensive services and solutions that ensure your data stays secure.