Know Thy Enemy: Four Cybercrime Threats to Your Business

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Imagine a business during the pandemic.

Not a single employee contracts COVID.

Profits are up.

Productivity is up.

Workplace satisfaction is up.

Despite all of this, this business is more at risk than ever before.

Why? Because the number of cyber security threats have exploded during the pandemic, making check point software technologies more important than ever.

Here are some startling numbers: in the 2020-21 financial year, Australia saw:

  • An increasing in cybercrime by 13%
  • Over 67,500 cybercrimes reported
  • $33 billion lost due to cyber crimes
  • Just under five hundred reports of ransomware crime[1]

In other words, cybercrime is now more frequent, more severe, and more costly than ever before. Your business might have a COVID-safe plan, but does it have a Cybersafe plan?

What can we expect?

With the growing cybersecurity threat, what can we expect in the future? In general, cyberthreats will become more sophisticated, more insidious, and more costly in the 2021-22 financial year.

Sadly, this is because the reward for cybercrime is at an all time high. This is because of the immense value of your personal data, the sensitive information stored in your client databases, and the high level of integration of technology in all levels of your business. We can expect:

  1. Malware attacks that compromise valuable data.

In a malware attack, an employee is tricked into installing a program that can track, corrupt, or harvest sensitive data from their computer or your internal databases. At best, data breaches like these can be incredibly embarrassing for a company and lead to a loss of credibility and trust. At worst, they can totally erode the foundations of your business.

  1. Outdated software targeted by external organised attacks.

When your software is old, or when you are not using the newest check point software technologies, you make your business vulnerable to attacks. Perhaps the most damaging and insidious of these is a ransomware attack. In a ransomware attack, cybercriminals generally either extract valuable data, shut down key aspects of functionality, or threaten to activate crippling malware. The cybercriminals then make a demand for payment.

  1. The targeting of remote workers.

During the COVID pandemic, working from home was mandated across a range of industries and sectors. Though restrictions are easing, it is likely that work will remain flexible, with businesses increasingly giving employees the choice of when and how to work. This provides cybercriminals with new opportunities to do harm. Businesses must take action to ensure that their systems are not compromised by cyberattacks on remote workers.

  1. Cybercriminals exploiting employee carelessness or ignorance.

One of the key ways to prevent cyberattacks is to train your staff to recognise, resist, and report cybercrime. Teach your staff to act in a cybersafe way online, avoiding public WiFi, using two-factor authentication, and practising other basic security measures. You may also like to update your own policies and procedures to match the demands of the changing world.

Fight fire with fire

With all this in mind, it is worth remembering that cybercriminals are constantly planning ways to outmanoeuvre your business’ approach to online security. This is why it is important to fight fire with fire. In other words, it is necessary to leverage Check Point Software Technologies to best protect your business.

Manopark Business Solutions offers a suite of Check Point Software Technologies to protect your business from cybercrime threats. You can secure your network, your data in the cloud, and your family of only apps and devices to avoid a cybersecurity breach. With Check Point Software Technologies, you can precisely recognise, manage, and avoid the threats that could derail your company entirely.

Don’t hesitate – get in touch today to discuss how we can help you protect your business’ future.

 

[1] https://www.cyber.gov.au/sites/default/files/2021-09/2020-21-ar-the-acsc-observed.pdf