Why Do You Need a Cyber Resilient Business in a COVID-19 World?

Businesses are increasingly prioritizing a concept called “cyber resilience.” It refers to the ability to reduce and overcome cyber threats, which have been on the rise the past decade. COVID-19 has given hackers another avenue to exploit businesses by targeting weak passwords and technical vulnerabilities. As such, businesses must be cyber resilient in the COVID-19 period.

How Hackers Breach Data Security

A hacker uses variations on a handful of techniques to penetrate business networks and steal confidential information. Some hackers are out to damage companies, while others are just trying to seize data they can sell to other criminals. Those that seek destruction often distribute malware, which can then lock up computers and damage data. Many hackers have used the COVID-19 world as a theme for tricking victims into clicking a link that unleashes malware.

Every large and small business should be aware of the common schemes and tactics used by hackers. Phishing is one of their most common scams in which they pretend to be someone else, such as a trusted friend or popular brand. Once they establish an online friendship, the hacker can then plan a series of hidden attacks. It’s an easy attack method for hackers since workers are usually not trained to detect and report suspicious emails.

The fact that security breaches have surged by 67 percent since 2014 should be enough evidence that hackers aren’t giving up. The more sophisticated cybersecurity gets, the more hackers try to catch up with the technology. Many times, they rely on hacking software that tests millions of passwords. Phishing is a more frequent scheme because it can lead to stealing money and information faster.

Cybercriminals are exploiting the pandemic by going after companies with new digital infrastructure designed to allow remote work. All it takes is for one employee to open an infected email to create disruption and potential downtime. Registration of domain names related to COVID-19 has skyrocketed in 2020, but many can be attributed to scams.

How Can Companies Fight Against Hackers

Companies need strong cybersecurity policies to protect themselves from hacking. Businesses need to train employees to avoid visiting unknown websites, especially those with nothing to do with their assigned work activity. Employees should beware of email and web addresses that resemble famous entities. Hackers commonly impersonate famous brands by using a domain that is one character off or includes a dash.

Fighting ransomware attacks involves watching out for emails making odd and urgent requests. Ransomware is a scheme in which a victim clicks a malicious link, and it locks up their computer with a hacker’s warning message to make a ransom payment or risk losing access to data. The payment usually must be cryptocurrency. The best protection against this type of attack is to regularly back up all critical files in a secure and separate location.

Multifactor authentication has become a common solution to help keep hackers locked out of accounts where they don’t belong. This strategy involves adding a second step to logging into an account after entering the password. It might include a security question in which only the account holder knows the answer or utilizes an email account or mobile phone to send a code to help verify identity.

Ultimately, businesses must be on the lookout for deceptive emails inviting clicks and treat them as unwanted spam. The key is to be aware of the cyber risks involved and use risk management tactics such as training staff, updating software,

With the constant threat of cyberattacks, finding the right insurance for your business, regardless of its size, is critical to entrepreneurial success. Let us help you find the right business insurance solutions that meet your needs and budget. Talk to the team at Kneller Agency today to get started. We can help you find affordable coverage for your start-up business.

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