Companies today rely on electronically stored data. There may be a few holdouts still running the whole show on paper ledgers and file folders, but they’re few and small. To compete in today’s economic climate, you need electronic data and easy access to it. But with new opportunities come new risks. Just as companies adapt to the times, so do criminals. These days, every company has to think about cybersecurity.

1. Phishing Scams

Phishing is a social engineering scheme that attempts to trick people by sending them fraudulent messages. These can be emails, or they can be text messages delivered on any kind of communications platform or social network.

Phishing messages generally claim to be from a trusted source about an important matter. They are most effective when guided by inside knowledge of a company’s structure — a technique known as “spear phishing.” However, even a vague, broadly targeted message can sometimes trick a naive or distracted employee.

Some phishing attacks are designed to trick their victims into revealing sensitive information. Others contain embedded links which, when clicked, will download malware onto the user’s system.

2. Cloud Security Breaches

Cloud computing is the wave of the future. More and more companies are moving their operations to the cloud. Not only is storage moving to the cloud, but so is software and computing itself. The advantages include lowered costs, increased efficiency, and better communications.

However, a lot of companies lack experience in cloud computing. Without expert advice in your data migration, you can easily overlook details that can lead to a serious security breach.

3. Ransomware

Ransomware is a technique by which an attacker encrypts a user’s data. Once the data are encrypted, the user can no longer access them without the decryption key. The attacker then demands payment, or some other sort of concession, in exchange for the key. Denial of access to its vital data can easily cripple a company.

Ransomware was used recently in an attack on May 6, 2021. Hackers encrypted about 100 GB of data belonging to the Colonial Pipeline. The attack caused pipeline activity to stop and resulted in a sharp spike in gasoline prices in some areas. Colonial Pipeline reportedly paid some $4.4 million in Bitcoin as a ransom.

This sets an unfortunate precedent that is likely to embolden future hackers. Security experts generally recommend against paying the ransom, as there is no guarantee that the encryption code will be given.

Create Connections Can Help

Create Connections provides the security expertise you need to survive and thrive in the modern business world. Contact us today to learn how we can help you secure your data and operations so that you can focus on what you do best.