As a business owner, you’re constantly navigating various challenges in order to keep your company afloat and grow it into what you’ve envisioned. One of those challenges is the constant security risks you face, especially in the online space.
Cybercrimes have become a serious concern in recent years and something that both business entities and individuals need to be aware of and on high alert for. Because of this, the need for cybersecurity has become more important than ever, and understanding what you’re up against plays a major role. To clue you up, here are four risks that you might need to pay attention to as a business owner in 2024.
Phishing Attacks
One of the more “traditional” cybercrimes is phishing, where an attacker will typically impersonate someone else (like your bank) in order to steal your data, such as login credentials or credit card numbers.
These are typically easier to spot by simply being alert and cautious about who you hand over your information to. Additionally, modern cybersecurity technologies are becoming more and more able to identify suspicious emails and contacts in order to help you ignore offers that seem too good to be true. As a business owner, you need to be extra careful about what information you hand out, so make sure you’re vigilant.
Managed IT Services refer to a professional outsourcing solution where a third-party provider takes responsibility for the management, support, and monitoring of a company’s IT infrastructure and systems. This can include services such as network security, data backup, software updates, and technical assistance, allowing businesses to focus on their core operations while ensuring their technology remains reliable and efficient.
Legacy ACS
Many people know that legacy access control systems are actually a crucial part of your network infrastructure, but since they were typically implemented so long ago, they now often pose serious cybersecurity risks.
If an attacker gains access to the ACS, they might be able to manipulate access permissions and put your sensitive data at risk. On a larger scale, a business could also lose complete control over the systems they need to operate, resulting in serious consequences like data breaches, financial losses, and irreparable reputation damage. To avoid this, make sure that you update and modernize your access control in 2024.
Insider Attacks
As a business owner, you need to be aware of insider threats as well, no matter how much you trust your staff members. Any current or previous employee might use (or misuse) their credentials for theft, sabotage, or any other number of cybercrimes.
Depending on the nature of the attack, insider attacks can have significant implications for your business, financially and otherwise. Unfortunately, these are threats that can be tough to mitigate, and the best you can really do is keep your most sensitive data encrypted, work with people you trust, and keep your eye open for suspicious behavior.
Weak Authentication and Password Security
Yes, ignoring the “create a strong password” prompt is actually more dangerous than you think, especially for businesses. Using easily guessable passwords and failing to use two-factor authentication on all your business-related software and accounts is just looking for trouble.
Make sure that you understand the risks involved and learn the specifics behind creating strong passwords. Be sure to share this information with your team as well to make sure that all of your employees’ business profiles are protected.
