Cybersecurity is one of the most common concerns of the interconnected world today. As more organizations and companies transition their operation data online, the volume of cyber attacks has escalated as well.
According to a recent report, the number of cyber attacks in the past two years has nearly doubled. And these numbers do not account for attacks that go unreported. To make matters worse, most of these cyber attacks target small businesses and startups that do not have effective strategies and tools to defend their systems.
That is to say, if businesses do not take cybersecurity as a serious matter, they do it at their own risk. But sometimes, organizations fall for cybercriminals no matter how cautious they have been to prevent them. This happens because there are many cybersecurity challenges and issues that go unnoticed, as they are hard to spot.
Let us plunge into the discussion to find out what some of the top cybersecurity issues are that many businesses face and the reasons they go unnoticed.
Business Email Compromise (BEC)
A business email compromise (BEC) is a kind of phishing attack, which is becoming common in many companies. It is a little trickier as compared to typical phishing attacks because it works with a system that sends a fraudulent email from an authentic account.
With this attack, the cybercriminal quickly gets access to the official email accounts of high-ranking officials in the business. Then they request payments using that email account to a fraudulent account. The reason why BEC has become an increasingly common cybersecurity threat is the flawed cyber defense system and a lack of antivirus software on office workstations.
FormJacking is another fastest growing cybersecurity issue many businesses fail to notice. Cybersecurity experts consider it a virtual equivalent of money point skimming. It is not only tricky to detect but also provides cyber attackers with a considerable amount of financial data of a company. That is why Formjacking is quite popular among cybercriminals.
In Formjacking, a hacker injects a secret code into an eCommerce website. He/she then waits for buyers to use their checkouts. When customers do it, the inserted code reads all their personal data, including credit card and account details, and sends this information directly to the hacker.
The money goes through a normal transaction, and both the victim and the website remain unaware of any cyber attack.
Ransomware has taken its share of the limelight as it has no alarms or warning signs until your business is completely locked out of its network. The only choice is to restore the system from a pay up or backup.
Overall, the rising rate of cybersecurity is not only alarming but also indicates a lack of expertise in the respective domain. The critical shortage of skilled employees and the IT department leaves many organizations struggling to keep their systems secure. Thus, outsourcing services to the cybersecurity experts at Bellwether is one of the best ways to employ effective cybersecurity strategies.