Unfortunately, cybersecurity attacks have become so commonplace that we hear about them all the time. Calgary businesses are often targets of malicious attacks from across the globe.
The threat landscape is expanding rapidly, with security vulnerabilities rising by almost 600%. Cybercriminals are becoming more insidious, and their attacks are increasingly sophisticated, making them harder to detect and stop.
No business, regardless of size or industry, is immune from these evolving threats. Protecting your business without help from a security operations centre is nearly impossible.
What Are the Most Common Cybersecurity Threats Facing Calgary Businesses?
Understanding the most prevalent cybersecurity threats is crucial to defending your business. The following are the most common threats impacting businesses today:
Poor Password Management
Despite improving awareness of cyber threats, many businesses still use simple and easily guessed passwords. Passwords like “123456” and “password” continue to top the list of most commonly used passwords. Poor password hygiene exposes businesses to greater risks.
Protection Tips:
- Enforce strong password policies.
- Use separate password managers to generate and store complex passwords securely.
- Implement MFA to prevent unauthorized access.
Malware
Malware attacks, often delivered through phishing emails, are another major concern. Cybercriminals have turned the malware ecosystem into an industry, offering services like ransomware and information-stealing malware. This trend has made it easier for novice criminals to join the fray.
Types of malware include:
- Trojan Horses: Malicious software disguised as legitimate programs.
- Adware/Spyware: Collects data or displays ads while slowing down systems.
- Ransomware: Encrypts business data and demands a ransom to unlock it.
Protection Tips:
- Use antivirus software and firewalls.
- Partner with an IT service provider to ensure regular patch management and security updates.
Phishing Attacks
Phishing is one of the most significant threats to Calgary businesses. Attackers craft convincing emails, posing as trusted contacts, to trick employees into revealing sensitive information. A rise in Business Email Compromise (BEC) has made these phishing campaigns more dangerous, as criminals use stolen business email credentials to fraudulently request payments or access data.
Protection Tips:
- Implement employee awareness training programs.
- Employ multi-factor authentication (MFA) to add extra layers of security.
- Establish strict protocols around divulging sensitive information or making payments via email.
Insider Threats
According to the Verizon Data Breach Investigations Report, insider threats account for about a quarter of all data breaches. These particular threats can come from disgruntled former or current employees, careless individuals, or third-party vendors with access to your systems.
Protection Tips:
- Limit and monitor employee access to sensitive data on a need-to-know basis.
- Revoke access when it is no longer necessary.
- Monitor employee behaviour for unusual activity.
Lack of Backup and Recovery Systems
Ransomware attacks are particularly devastating, and many businesses pay a ransom to regain access to their data. The only way to avoid paying a ransom is to have comprehensive, offsite backups isolated from your primary network.
Protection Tips:
- Implement a Disaster Recovery as a Service solution to ensure you have a reliable backup system.
- Regularly audit and test your backups to ensure data can be restored during an attack.
As cyber threats evolve, Calgary businesses must proactively protect themselves. By implementing strong security measures, educating employees, and partnering with a trusted IT provider like Ironclad TEK, your business can better defend itself from cybersecurity threats.
Secure Your Business with Ironclad TEK’s SOC Services
As cyber threats grow in sophistication, safeguarding your business requires more than just basic security measures. Ironclad TEK, powered by Arctic Wolf, offers comprehensive Security Operations Centre (SOC) services designed to protect your business 24/7.
Our team of experts ensures your cybersecurity is comprehensive, responsive and adaptive to the evolving threat landscape. With advanced threat detection, timely responses, and scalable solutions, utilizing security operations centre services provides you with incredible peace of mind. Contact us today to learn how we can protect your business from cybersecurity threats.
