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Cybercrime is a broad term that refers to illegal activities that take place in the digital world. It includes everything from hacking, malware, and viruses to fraud, theft, and identity theft, as well as other crimes committed using computer technology.
Cybersecurity is a key concern for all businesses. It is a growing threat to businesses across industries. This is particularly impacting growing areas of digital activity such as e-commerce (also a key driver of the global economy). Cybercrime costs the global economy billions of dollars a year and it’s getting worse with each passing year. Cybersecurity Ventures estimates that by the end of this year, the cost of cybercrime could reach 6 trillion dollars worldwide, and it could reach 10.5 trillion dollars by 2025. In this guest post George Passidakis talks about the top 5 cybercrime and how you can protect yourself and your business on the internet.
Cybercrime can have several negative effects on businesses. These include:
Damaged reputation – Hacking or malware attacks can cause your brand to be perceived as vulnerable and incapable of protecting consumer and proprietary information, which damages its reputation. If your customers believe they may be vulnerable by associating with your business, they may avoid doing business with you altogether. They could also become less likely to trust your products and services in the future.
Lost time – In addition to having the website hacked or infected with malware, companies can also lose productivity when employees are forced to deal with cyberattacks on their own time. This is a fallout of the lack of adequate IT support or security measures in place.
Financial loss – Cybercrimes can cost businesses money in several ways, including paying for forensic investigation services and replacing stolen data if it isn’t backed up properly as well as fines, legal fees and more. Cybersecurity Services Sacramento guides local businesses on implementing relevant security features to stay ahead of continuously evolving threats.
Phishing scams are one of the most popular tools used by hackers. These typically leverage a form of social engineering in which emails are sent to users that look like they come from legitimate sources, but are actually attempts to deceive the recipient into providing sensitive information such as usernames, passwords, and credit card numbers. These can also appear to be messages from government agencies or banks threatening legal action if payment is not made promptly. Phishing scams can lead to identity theft, financial loss, damage to your company’s reputation, or all three depending on the nature of the scam.
Website spoofing is a common tactic in cybercrime that involves creating a fake website that appears to be a legitimate website. The goal of this type of attack is to collect login credentials, credit card data, or other sensitive information from unsuspecting users. The most effective method for preventing these attacks is vigilance and awareness. For example, if the user receives an email urging them to update their account information by clicking on a link, it’s best not to follow the instructions until verifying the legitimacy of the email with the company directly. And even then, it’s important to use caution when entering personal details into a website that is not vetted.
Ransomware attacks are increasing and affecting businesses of all sizes. Ransomware is a type of malware that encrypts your data and demands payment in return for the decryption key. The attacker can also lock you out of your system by deleting or modifying files. Ransomware is commonly delivered via spam emails or exploiting unpatched vulnerabilities. Ransomware attacks have been so successful in the recent past that hackers have consolidated themselves into ransomware gangs that now carry out Ransomware 2.0 attacks. These attacks are even deadlier, use more advanced strategies and are easier for hackers to execute as they make use of ‘plug-and-play’ ransomware kits. To protect your business against ransomware attacks, consider reaching out to the experts at IT Support Redding.
Malware is a generic term for software that is specifically designed to disable computers or computer systems. Malware can be used as part of a DDoS attack, to steal data, or even just gain access to system resources. There are many types of malware. Some examples include viruses and worms (which replicate themselves), spyware (which collects information about your online activity), and ransomware (which locks or encrypts files until the victim pays the ransom).
Internet-connected devices are mushrooming everywhere at an unprecedented rate. These are found everywhere from our homes to factory floors to industrial sites and hospitals performing a range of critical functions. These devices, commonly known as the “Internet of Things” (IoT), include things like smart TVs, voice-activated assistants, and security cameras. IoT devices are also commonly deployed in hazardous or hard-to-reach environments, such as factory floors and industrial sites. While these devices make our lives easier and more convenient, they also pose a risk to our privacy and security. Hackers can gain access to these devices and steal our personal information or even control them remotely. The problem is made worse by the fact that IoT devices often have little to no security features as these are typically low-cost and low-power devices. They are rarely (if ever) updated and can easily be leveraged by hackers to compromise not just individual IoT devices, but the entire network connected to that device. Managed IT Services Sacramento can guide businesses on securing their networks against IoT hacking.
George Passidakis is the Director of Sales and Marketing at Apex Technology Management, providing IT Consulting Sacramento, Redding & Sacramento. George has 30+ years of experience as an Information Technology professional. He also has extensive knowledge of Microsoft technology and other SMB IT products and solutions. Stay connected via LinkedIn.