Cyber risks for modern businesses
Entrepreneurs nowadays are facing new challenges and prevention has become a priority, especially when it comes to cybersecurity. In the modern era, most of the company’s information is kept online, the mixture of cybercrimes and the threads that come with new technologies, we need to be aware of all the potential risks we face and how to prevent them.
1. Phishing
This cybercrime has become popular in the last decade. Their targets are contacted by text message, mail, or phone call by an impostor playing a legitimate institution, asking individuals to give them sensitive data.
2. Internet of Things attacks:
Many modern companies are implementing the Internet of things (IoT) to manage their operations, control and acquire data, and improve customer service. Normally, IoT systems lack robust security, which means vulnerability for the business.
3. Cryptocurrency theft:
A lot of modern companies are getting on board with cryptocurrency and because of that, cyberthieves are now also finding ways to steal virtual properties and money.
Even though cryptocurrency is secure, there are some risks to look out for. The security tools used by cryptocurrency may not be updated to the most recent malware attacks.
4. Cloud vulnerability:
Modern companies rely on the cloud for remote workers and storing data, however, it’s important to implement cybersecurity features. The poor configuration of the cloud may generate data breaches.
5. Supply chain and third-party attacks
This cyberattack occurs most commonly in larger organizations through their outside supplier´s security systems. The companies depend on a few third-party services for their everyday operations like logistic partners, investor brokers, and payment processing companies.
How to prevent cyberattacks?
There are a few ways to do it. First, it is important to constantly update your software and systems and have more than one backup. Also, always keep track of who accesses your system and give your employees personal accounts so each login is different and unique, the information is at risk when many people enter with the same information. Lastly, having a plan in case an attack does happen is key. Many financial tools like business insurance guarantee your company’s well-being when facing catastrophic events.
Ready to protect your business? At Air Insurance we offer “360º Insurance Guidance” which includes risk analysis and custom-built plans. Protect your future today, call +52 55 4444 6043 or send us an email at info@air.com.mx
The information in this article is subject to terms and conditions applicable at the time of writing. If you have any questions about the current applicability of this information, please contact an AIR Insurance Brokers advisor.
