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If you are under the impression that SMBs do not face cyber crimes, then you are wrong. 61% of SMBs have experienced cyber crime in one way or another. Some on them saw their business closing down, others are still recovering from the damages because it is not easy to overcome a cyber-attack.
According to Cisco, on an average it takes $500,000 to recover from a cyber breach, which is a lot for an SMB to pay. It is better to secure your business with the help of endpoint security tools than regret later. If you are an SMB trying to protect your organization from cyber threats, these are the five trends that you should be looking for in 2019.
Cloud Is Not So Secure
No one can doubt the usability of the cloud, but every good thing comes with risks. SMBs are at a huge risk if their data is not secured on the cloud. Using an essential security layer like an endpoint security model should be part of all cloud-native security products. Endpoint security is a model which meets the demands of the modern enterprises.It secures all the endpoints of your organization like desktops, laptops, mobile phones, tablets etc. Endpoint security solutions provide firewall and intrusion prevention, antivirus scanning and malware defense for the whole network of endpoint systems.
Downside of Social Media
One of the major cybercrime trends of 2019 is using social media for cyber attacks. SMBs are struggling with data leakage threats on social media. There are two ways that the criminals harness the power of social media for attacking. Either they create and spread fake information about your company, or they build bot accounts and impersonate you in front of the customer. When they spread fake information about your company, it affects your brand impression in front of your customer. When the criminals try to imitate your brand in front of your customers, your customer might give out their personal information to the criminals. Both the methods are proved to be detrimental to your business.
Ransomware Is Here to Stay
Ransomware is a form of malware that denies access to your own data. Cybercriminals get into your system and block crucial data until a ransom is paid. They either encrypt the data or lock the users from using their own data. Their typical way of attacking is through phishing emails, targeting the employees of SMBs.All it takes is someone to click on that infected email and your entire network will get disrupted. If you do not pay what the cyber criminal has asked for, your data will be destroyed. And more often than not, even if you pay the criminals, they never unlock the data of your system. WannaCry is an example of one such attack. It infected schools, businesses and several hospital systems.
Cryptojacking is the New Silent Threat
With crypto-currency gaining popularity by the day, cyber criminals are cashing in through crypto-jacking. Criminals prefer crypto-jacking because it does not change the functions or appearance of the website, and makes it harder to detect the crypto-jacking malware. Crypto-jacking can happen by either corrupting the website files and injecting malicious code that can mine for crypto-currency on whoever visits that infected website, or by uploading infected ads online.SMBs can use malware detectors in their endpoint security software which can detect malicious content on any website and prevent it from corrupting the whole system.
Evolution of Intelligent Oriented Threats:
With a major boost in technology, this era has seen massive developments in terms of machine learning. Cyber criminals are becoming smarter by the day and using machine learning to initiate cyber-attacks. To save your system from the machine learning enabled threats, you need to use the same technology for protection. Whenever a machine learning algorithm detects a threat, it makes the necessary changes in the system automatically. So this year, you should focus on replacing your traditional methods with machine learning to ensure data security. Machine learning can be used to predict security threats based on the past data. Thus, organizations can better prepare to mitigate future threats.
What Should SMBs do?
You should train your employees. 54 percent of SBMs reported that the main cause of data breaches in their system was because of the negligence of employees. Lack of cyber security training is an obstacle for SMBs. You should train your employees on identifying attacks and report it to the cyber security team whenever they find one.
As an SMB, you should also implement endpoint security. Endpoint security refers to the approach of protecting a network when it is accessed with devices like smartphones, laptops, tablets etc.from cyber threats. It secures your system by blocking unidentified access attempts at the endpoints. It is different from antivirus software because antivirus software only protects one system, whereas endpoint security solutions give protection to a whole network of devices. Endpoint security basically works on a client-server model. The endpoint security software would be located on a centrally managed server and a client software would be located on each endpoint device. Endpoint security software verifies every login made from the endpoint devices into the system.
There are a variety of endpoint security tools available in the market. There are tools for single featured security solutions as well as full blown cyber security suites. These endpoint security tools can help you stay protected from the dangerous cyber threats waiting for a chance to hack your system. No matter what industry you are operating in, prevention from cyber threats should be the top priority.