The rise in cybersecurity threats and what it means for your business

The rise in cybersecurity threats and what it means for your business

Cybersecurity threats come in many forms. The most common for businesses include ransomware attacks that lock an organisation out of its database, phishing emails and denial-of-service attacks that can take entire websites offline. The number of cyberattacks is, unfortunately, on the rise. Many cybercriminals have taken advantage of the COVID-19 pandemic by targeting the systems that were implemented quickly by organisations to allow more employees to work from home. Across the world, there was an increase of 105% in ransomware attacks in the last year.

The impact of a cyberattack

A cyberattack can disrupt a business significantly. Corporate information can be stolen, important data can be lost, and trade can be disrupted. The financial impact can be high as well, with some ransoms demanded by cybercriminals reaching into the millions of dollars. There is also the cost in time and money for a business because you need to rebuild databases, restore trust if consumer data was stolen. Additionally, there could be legal ramifications if the appropriate security measures weren’t taken.

How to prevent cyberattacks

Many businesses are choosing to increase their budgets for cybersecurity to prevent these attacks from happening in the first place. There are several preventative measures that can be taken, including the following:

  • Raise awareness in your organisation and make sure everyone knows how to identify and report suspicious activity. Your employees should know what forms a cybersecurity threat may take – phishing emails, scam websites, etc. 95% of data breaches are due to human error.
  • Ensure that your software is always up to date by installing the latest security patches. Cybercriminals can take advantage of gaps in security that may have been plugged in newer versions.
  • Create an information security plan. This is a set of policies and procedures detailing how your organisation protects its data and responds to cybersecurity threats. This document also shows how your business complies with industry regulations.
  • Implement multiple cybersecurity barriers, such as firewalls, antivirus, antimalware and performance monitoring software.

Netgen knows cybersecurity

At Netgen, we specialise in creating secure custom software for all of our clients. We also stay up to date with the latest cybersecurity threats so that we can do our best to ensure our clients’ systems stay safe from attacks. We provide ongoing maintenance in this regard, as well as recommending when our clients should do upgrades for security and operational purposes. Get in touch if you want to know more about how your business can stay safe through custom software.
Netgen is also an authorised Acronis service provider, offering backup software and data protection services for businesses of all sizes.

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