Business organizations depend on the internet for their daily operations and storage of massive amounts of data. Given that, the likelihood of cyber attacks is all the more prevalent. It is due to this that governments, enterprises, and security firms invest billions of dollars in cyber security. Typically, increasingly adopting and relying on cyber technology heightens the possibility of cyber attacks. A recent security survey identified the leading cyber security threats. Read on to find out about the three most common security threats.
Top 3 Cyber Security Breaches
# 1: Malware, spyware, and viruses. According to statistics, these threats account for over 68% of all security breaches causing the most severe business losses. Typically, viruses and malware are distributed by being bundled with application or other downloads. In addition to that, attackers often trick unsuspecting users to download unnecessary items thus gaining access to a system. As soon as the virus gains access, it embeds, regenerates, and spreads throughout a host system. Some virus can be impossible to remove with no uninstall shields or wizards. An attack of this nature can result in loss of significant amounts of data, network connectivity, or even hardware failure.
# 2: Identity theft/Impersonation. This type of attack accounts for 32% of cyber security breaches. Though significantly lower than viruses, malware, and spyware, impersonation comprises a third of all reported attacks. Identify theft attacks target business in the financial and insurance sector, as attackers intention is to gain financially. Attackers might send a fake invoice or that they need you to verify your account details as your bank account has been hacked, for instance.
# 3Denial of service (DOS) attacks. DOS attacks accounts for 32% of all reported security breaches. A DOS attacks goal is preventing customers, users, and organizations accessing legitimate services. According to SecureList, a DOS attack on Deutsche Telekom knocked 900,000 Germans offline in November 2016. In 2015, because of a DOS attack, the BBC went offline for several hours. Finally, in fourth place are hacking and digital stealing of money at 13% with intellectual property theft accounting for 1%.
Aftermath of Security Breaches
Surveys indicate that attack’s impact doesn’t depend on financial losses or business reputation. Rather, it is felt in the labor, time, and resources needed to remediate the breach and implementation of new security measures for preventing future attacks. Financial implications include repair costs and investments in new or updated security applications. The average cost of data breaches is estimated at $3.62 million in 2017.
In any plan geared towards preventing attacks, it is important to identify an attack’s origin and the weaknesses that allowed it to happen. By properly training employees, you increase your organization’s breach detection capabilities. Ideally, efficient security software identifies potential threats before execution. In addition to that, hiring the services of external IT security provider can prove beneficial in preventing attacks. Use https://www.pagerduty.com/why-pagerduty/devops to learn more about preventing common internet threats.
A most simple method of preventing cyber attacks is installing, changing, or updating security software on a regular basis. Also, combining this with a good firewall system, appropriate staff training, an active IR plan, and communication significantly increases your threat preparedness. According to survey reports, human user errors comprise the largest cause of cyber threats. Hence, it is critical that you have the proper security procedures and policies in place with regular review, vetting, and updates.