The Biggest Cyber Threats to Your Business

Recent statistics will not reassure you if you’re worried about cyber threats to your business and the ramifications that can come from them. Experts warn cyberattacks are on the rise, and businesses aren’t immune. However, you can minimize your cyber liability by investing in cyber insurance.

Cyber Threats: What Types Exist

What does cyber liability insurance cover? This kind of policy can cover losses from the following attacks.

Phishing

Phishing is one of the book’s oldest tricks, yet it persists because it remains an effective tactic. Phishing attacks entail emails fraudulently sent to an organization’s employees and making it look like they originated internally. The email may then contain a link that invites users to enter their login info. Ultimately, it will compromise their accounts.

DoS and DDoS

Denial of Service and Distributed Denial of Service attacks are yet another time-tested strategy that cybercriminals may use. This approach demands that predators send a massive wave of spam requests to a website or its network to impair its ability to function. With an overload of traffic, fraudulent traffic will overwhelm the network’s processing power,

and legitimate users cannot access the site.

Ransomware

Ransomware is quickly becoming one of the pernicious threats to businesses worldwide in recent years. According to one study, there were twice as many ransomware attacks in the first quarter of 2022 as in the entirety of 2021. To mitigate the risk of ransomware attacks, companies should maintain backups of all files and robust security infrastructure.

Malware

Malware is another disruptive form of software that can damage a computer or its network. It encompasses ransomware and many other types of cyber threats, such as viruses and malicious code. Companies can prevent malware as they would minimize the risk of other cyber threats — by maintaining strict cyber safety protocols.

Keyloggers

Keyloggers are a pernicious form of malware that can record every user’s keystroke on a device. Additionally, keylogger software often generates a report of this activity and sends it to the program administrator. Cyber threats can compromise credentials.

Spyware

Spyware is another form of activity monitoring malware. Besides recording keystrokes, it may also record a user’s screen or track the websites a user visits. It threatens any organization’s security, but unfortunately, spyware can often lurk on a computer undetected. Businesses should run anti-virus programs to detect any potential spyware infestations.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.