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Keeping Your Business Safe

What are Common Cyber Threats? 

The idea of being hacked seems far-fetched to most businesses. It’s something a company hears about and thinks, “That will never happen to me.” According to a recent study by Cisco, though, nearly one-third of all organizations have experienced a cyberattack. The threat is real.

Every business that has valuable information is vulnerable to a data breach. A data breach occurs when confidential, sensitive, or protected data is disclosed and/or accessed by an unauthorized source. It’s important to identify the types of information you possess that could be subject to a data breach, including:

  • Financial information
  • Intellectual property
  • Medical information
  • Trade secrets
  • Sensitive client information
  • Personal information
  • Any other type of data that necessitates security
As a business, you must keep your data secure, and you also have an ethical obligation to keep your clients’ information safe. You can never take too many precautions. Make sure you’re taking the proper measures to maintain your data’s security.

The cost of cyber fraud for a single enterprise is estimated to be 1.1 million a 52% gain from last year.
In the past, most data breaches came from lost/stolen devices or employee negligence. In the modern world, however, hackers are the primary cause of data breaches, and every business that uses the internet is vulnerable. Hackers today use automated systems that constantly scan an array of networks hunting for weaknesses, and they will exploit any deficiency they find. They also attack systems using the following methods:

  • Spyware or phishing, in which hackers attempt to steal confidential data with fraudulent communications
  • Using ransomware to shut down communication systems such as phones and emails or even encrypt client information from your business’s access
  • Eavesdropping or “man in the middle attacks,” where a hacker intercepts information in a two-way communication between two parties
It’s important for your business and its employees to be aware of the different types of attacks they may encounter. Knowledge is power when it comes to preventing a cyberattack.

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Learn more about Dr. Schlosberg’s path to success and his advice for future entrepreneurs in his installment of our San Antonio Business Heroes podcast series.