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8 Security Risks For Companies In 2022

Security threats are becoming more sophisticated and widespread. The number of cyberattacks has increased exponentially over the last decade.

According to the Cost of a Data Breach Report, the average data breach cost has reached an all-time high of $4.24 million in the United States in 2021.

We will see significant changes in our daily lives due to new technologies such as artificial intelligence, autonomous vehicles, blockchain, virtual reality (VR), and augmented reality (AR). We need to be aware of the security risks associated with these new technologies.

Companies and organizations must understand these emerging technologies and how they can affect their business. They also need to know what steps they should take to protect themselves from potential future breaches.

Here are eight security risks your business should address as soon as possible.

Social Engineering Vulnerabilities

Social engineering is responsible for nearly half of all cyberattacks. Social engineering is when an attacker uses deception or psychological manipulation to trick someone into providing information.

This can include impersonating employees, using phishing emails, fake login pages, or sending malicious links that appear legitimate.

The most common types of social engineering attacks are spear-phishing and smishing.
  • Spear-phishing involves targeting specific individuals with a carefully crafted email message.

  • Smishing refers to text messages sent through popular messaging apps like WhatsApp or iMessage.

  • These messages often contain links to malware disguised as a bank transfer request or seemingly innocuous document.

The best way to protect against these attacks is by training your staff on how to identify them and what to do if they receive one.

You may also want to consider investing in Elliott Data Systems' Identity Enterprise or Identity as a Service, which allows you to protect against breaches and fraud in your network.

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IoT Attacks

The use of the Internet of Things (IoT) devices grows exponentially.

IoT devices have become increasingly vulnerable to hackers because they are connected to the internet and often lack basic cybersecurity protections.

According to a report from Gartner, there will be more than 20 billion IoT devices deployed globally in the coming year. That’s equivalent to every person on Earth having their own IoT device. While this sounds great, it also means that billions of IoT devices are exposed to potential attackers.

  • IoT includes everything from home appliances to medical devices.

  • It can be laptops, webcams, routers, manufacturing machines, home security system, refrigerators, vacuums, printers, cars, and so on.

  • Hackers can access these devices remotely and compromise them to gain control of critical infrastructure and sensitive personal information.

To minimize the risk of an attack, make sure your company has a comprehensive strategy for protecting its IoT devices. One option is to deploy a firewall appliance that blocks unauthorized connections to your internal networks.

Malware Attacks

Over the last decade, the number of malware infections has risen significantly. According to the Verizon data breach report, 92% of malware is still delivered via email.

Email attachments continue to be the primary vector used to spread malware. This is why companies must implement anti-malware solutions.

There are two primary ways that malware gets into your organization:

  • When users open suspicious files or click on links in spam/invalid emails.

  • When a malicious software is installed onto your computer without your knowledge.

Both of these scenarios require antivirus protection.

Even though many organizations are now deploying advanced endpoint detection and response technologies, it’s important to remember that current antivirus products do not detect all threats.

Malware targeting MacOS has increased 165% within the last year. MacOS is much less likely to get infected than Windows computers, but it’s still possible.

Because of this, companies must develop a plan to protect their MacOS systems.

One solution is to deploy a cloud-based product such as Elliott Data Systems' Entrust Identity Enterprise and Identity as a Service for Mac. It provides real-time threat monitoring and prevention capabilities, so you don’t need to worry about installing updates or patches.

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Cryptojacking

Cryptojacking is the practice of using someone else’s computing resources to mine cryptocurrency. This is done by installing mining code onto a user’s machine.

It is estimated that 25% of businesses have been impacted by cryptojacking.

Hackers compromise websites to inject mining scripts into them. These scripts are usually hidden deep inside the website source code. When a visitor loads the website, they unknowingly start mining for cryptocurrency.

Another method is to use browser extensions or adware programs that install themselves onto a user’s computer without their consent. They then use the computer’s processor power to mine cryptocurrencies.

While this may seem harmless fun, hackers can sell the mined crypto for cash.

Although most cryptojacking attacks occur online, they can also happen offline. If your business uses any hardware (such as printers) that connects to the internet, it could become a target.

The best way to prevent cryptojacking is to ensure that no one has access to your network. It would be best to block any known mining sites from accessing your network.

Ransomware

Ransomware is a form of cybercrime where hackers demand money in exchange for releasing encrypted data. Ransomware attacks are often deployed against individuals who have been targeted with phishing scams.

These scammers will send an attachment to the victim containing a ransom note demanding payment. Once the victim pays up, the hacker will release the encrypted information.

Hackers will hold the data hostage in some cases even after the ransom is paid. This makes it very difficult to recover lost information.

Ransomware-induced downtime cost businesses about $8,500 per hour.

If you suspect that your company has fallen victim to ransomware, you should immediately contact law enforcement officials.

There are several ways to combat ransomware.
  • One option is to implement encryption on all devices used by employees.

  • You should also ensure that all software installed on employee workstations is regularly updated.

  • If you do not update software, it leaves your system vulnerable to hacking.

  • Hackers can exploit outdated applications to gain access to sensitive data.

Tailgating

Most workplaces are secured with physical security measures such as locks and alarms. However, there are still many ways to get past these barriers. Tailgaters are people who sneak around locked doors and other physical security measures.

They do this because most companies do not have adequate technology to detect intruders.

They can easily bypass firewalls and intrusion detection systems to get onto your network. Tailgaters steal valuable intellectual property and confidential information. They can also cause significant damage to a company’s reputation.

To avoid becoming a victim of tailgating, you should invest in advanced security technologies.
  • For example, you could deploy an access control system at entry points. Access control systems allow only authorized personnel to enter specific areas. This prevents unauthorized users from gaining access to restricted areas.

  • You should also consider installing commercial video surveillance cameras. These devices record images and store them in a database. When someone tries to break into a secure area, the CCTV monitor footage can be reviewed in surveillance monitors or from mobile devices. This helps identify potential threats before they succeed in breaking into your facility.

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Employee Theft

One of the most significant risks facing small businesses today is employee theft. Employees may take advantage of their positions of trust to pilfer company assets.

They might sell or trade company secrets for personal profit. Or they may use stolen credentials to log onto company networks and download proprietary files.

Theft is widespread among salespeople and accountants. Salespeople often view customer records as a source of competitive advantage. Accountants may use privileged access to steal financial documents.

Theft costs companies billions of dollars each year. It also puts a severe dent in a business's bottom line.
  • To prevent employee theft, you need to train employees properly. You should also establish clear policies regarding information and company assets.

  • It is vital to keep track of what employees are doing. You should create an audit trail to determine whether any inappropriate activities are taking place.

  • In addition, you should ensure that employees understand how to handle confidential information responsibly.

  • It is also important to conduct regular audits of employee activity. You should review employee login details to see if anyone else has accessed company resources.

At Elliott Data Systems, we provide comprehensive solutions to help protect against employee theft. Our cloud-based video security provides real-time monitoring of all traffic. We also offer remote management tools that allow administrators to monitor user activity without being on-site.

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Vandalism

Another risk associated with office space is vandalism. Vandals destroy company property by damaging equipment or removing sensitive data.

Most people think about vandalism when they hear about break-ins. But there are other types of vandalism too. For example, vandals may spray paint graffiti on walls. Or they may deface company vehicles.

Vandalism is a big problem because it can cost thousands of dollars to repair damaged equipment. And it can cause damage to the reputation of a company.

If you want to reduce the likelihood of vandalism, you must make sure that your office space is well secured.
  • You should install an access control system combined with video surveillance cameras.

  • If you have any vehicles, you should also consider protecting these vehicles from theft. The best way to do this is through vehicle access control.

  • This technology allows authorized users to gain entry to your car park. They can even enter individual cars without having to open doors with a key manually.

  • You should integrate vehicle access control systems at entrances and exits of your parking lot.

  • Commercial grade security cameras are another effective way to deter vandalism. These devices record images continuously. If someone vandalizes your property, you will be able to watch the footage later.

These security camera systems are ideal for recording events such as shoplifting. It is also helpful for capturing incidents involving violence.

When selecting a commercial-grade security camera, you should look for features like night vision, HD display, motion detection, and high-definition image resolution.

At Elliott Data Systems, we provide a cloud-based video security solution that helps businesses protect their assets. We also offer remote access management tools that allow managers to view live footage from anywhere instead of being tied to security monitors.

Stay Ahead Of The Game

It will become increasingly difficult to stop cybercriminals from stealing sensitive data as we move forward. To stay ahead of the game, you must implement effective cybersecurity practices.

Hackers & criminals will continue to evolve their methods of attacking businesses and consumers. The best way to prepare for these attacks is by investing in technology that protects your organization from future breaches.

As such, companies must invest in robust cybersecurity technology and train employees to recognize and respond appropriately to new threats.

Digital & Physical Security Solutions Provider

Elliott Data Systems offers complete end-to-end solutions for protecting your network from hackers and criminals. Our products include physical security solutions, digital security solutions, and managed IT services.

Our physical security solutions help organizations secure their buildings, offices, and facilities. These solutions include intrusion prevention, security cameras, firewalls, ID badges, biometric readers, and access control.

Our digital security solutions help organizations secure information on their networks. These solutions include antivirus, anti-malware, web filtering, email security, and content monitoring.

Elliott Data Systems provides business owners with a comprehensive suite of managed security services. Our team of experts can help you develop a strategy that meets your unique needs, from physical security to network security.

Contact Us Today!

If you want to learn how Elliott Data Systems can help keep your business safe, please contact us today! We'd be happy to schedule a free demo. You can also call us at 1-888-345-8511.Start your post here...



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