Cyberattacks and cyber threats hit the headlines continuously in 2023 with no business immune to being a target. No matter where you live or the size of your business, we all need to remain vigilant when it comes to cybersecurity. This is why our approach at Arcus is all about prevention first.

2024 is set to continue in the same way as 2023, and in this article, we’ll touch upon some of the most common threats businesses need to defend themselves against. As cyber threats advance, we need to take a proactive approach to online security, something we’ll cover further later.

6 cyber threats all businesses need to prepare for

There is endless information on cyber threats and attacks, and we could easily take one of the below threats and write a piece solely focused on that. But today we want to highlight a few of the key threats all businesses need to be prepared for.

Social engineering

Every day businesses face the risk of social engineering attacks. Data breaches, financial loss and reputational damage are real risks and through manipulating individuals, techniques like phishing continue to be one of the biggest threats to organisations. Phishing attacks are continually growing in sophistication which means the likelihood of sensitive information being shared by an unsuspecting employee also increases.

Insider threat

Insider threat is a genuine risk to businesses of any size. Individuals within an organisation can pose the danger of misusing their access privileges to harm the companys’ security or interests intentionally or sometimes unintentionally. What could this look like? Anything from employees stealing data, sabotaging systems to them inadvertently leaking sensitive information.

Ransomware

No business wants to be held to ransom but unfortunately the facts and figures around companys’ having their data encrypted and being threatened with its public release if a ransom isn’t paid are an issue not to ignore. According to Statista, in the fourth quarter of 2022, nearly 155 million ransomware attacks were detected worldwide and made up 68.4% of all cyberattacks in that year.

Businesses must invest in cybersecurity measures to defend against ransomware attacks.

Configuration mistakes

We all make mistakes, but when configuration mistakes occur such as oversights in system settings or software configurations, it can leave businesses vulnerable. Mistakes might include weak password policies, unpatched software, or improperly configured security settings. Cybercriminals often exploit configuration mistakes to gain unauthorised access, steal data, or launch attacks. This is why regular audits are important.

Supply chain attacks

In our super connected world, attacks can come from anywhere. Supply chain attacks are designed to infiltrate an organisation through vulnerabilities within third-party vendors or partners that provide products or services to a business. How can you reduce the risk of this happening to you? Businesses need to build trust with vendors and partners, and conduct thorough due diligence when choosing who to work with. Working together you can implement supply chain security measures and establish protocols for monitoring and responding to potential threats.

Cloud vulnerabilities

The expansion of cloud-based infrastructure in recent years is huge which means more chances for cyber attackers to find and exploit weaknesses. As businesses increasingly rely on cloud computing for storage, processing, and hosting, they face the risk of data breaches, service interruptions, and compliance violations due to cloud vulnerabilities.

How can you keep your IT secure?

That’s a pretty quick run down of some of the key cyber threats businesses need to be aware of now and in the future. So, what steps can you actually take to ensure your business is as secure as possible?

As we briefly mentioned, at Arcus we’re all about a prevention first approach. Putting effective cybersecurity strategies in place is crucial and areas to consider and implement include:

1. real-time monitoring
2. regular risk assessment and profiling for external and internal threats.
3. regular data back-ups
4. employee awareness training
5. advanced threat detection
6. robust cloud security measures such as encryption, access control and continuous monitoring

Cyber Essentials

As just mentioned, we support businesses with Cyber Essentials certification, which if you haven’t yet heard of, it’s definitely worth looking into. At the start of 2024, the government issued a press release stating businesses need to toughen up their cyber-attack protection and highlighted around 66% of businesses which adhere to Cyber Essentials have a formal cyber incident response plan compared to just 18% of those who don’t.

National Cyber Security Centre CEO, Lindy Cameron stated:

“Cyber security is no longer a niche subject or just the responsibility of the IT department, so it is vital that CEOs and directors understand the risks to their organisation and how to mitigate potential threats.”

At Arcus, our solutions are designed to keep businesses secure and in the event of disaster have you back up and running as quickly as possible. From password management with Keeper security, JustProtect, JustSecure, YubiKey and Cyber Essentials, we can support you in implementing robust security measures. Our solutions cover everything from back-up and recovery to firewalls and 24/7 monitoring.

Working with the right partner can provide you will all the support you need, and our friendly team of experts are always on hand to provide IT Support in Barnsley and across Yorkshire. If you’d like to discuss your cybersecurity needs or find out more about our solutions. Get in touch!