cyber

Four Concerning Cyber Threats to Watch in 2019

Anthea Business Insurance

As large-scale cyber attacks continue to make headlines on a regular basis, many businesses have started to realize the importance of safeguarding their systems and data. However, hackers will keep exploiting cyber defense trends and new technology to steal valuable information and cause chaos.

Staying aware of developments in cyber security can help your business prepare an effective response plan. Credit reporting agency Experian recently released its 2019 data breach industry forecast, which predicts the four biggest cyber threats for the year to come:

  1. Biometrics — Device manufacturers like Apple, Google and Samsung have started to use biometric scanners as a more secure form of authentication. But, as fingerprint and facial recognition systems become more popular, hackers will start to target servers that store biometric data.
  2. Digital skimming — Criminals have used skimmers to steal credit card information for decades, but hackers are looking at a digital version of this crime that can target e-commerce websites.
  3. Wireless carriers — Recent security tests have found that hackers can infiltrate the signaling platform that allows wireless carriers to connect to each other. As a result, hackers may be able to start a large-scale attack on a motor carrier and remotely access data on smartphones.
  4. Cloud vendors — Hackers have targeted cloud computing systems before, but mostly focus on individual businesses instead of the service providers. If a large cloud vendor is attacked, it could expose data from thousands of businesses that assumed their data was safe.

What can you do to protect your organization?

Here at Mumby, we can support your organization in understanding your cyber risks and liabilities. We have useful work sheets to help you start building out a plan to reduce your data exposures.

Consider the following preventative steps to protect your organization from becoming a victim to cyber crime.

Provide security training

Employees are your first line of defence when it comes to cyber threats. Even the most robust and expensive data protection solutions can be compromised should an employee click a malicious link or download fraudulent software.

As such, it’s critical for organizations to thoroughly train personnel on common cyber threats and how to respond. Employees should understand the dangers of visiting harmful websites, leaving their devices unattended and oversharing personal information on social media. Your employees should also know your cyber security policies and know how to report suspicious activity.

Install strong antivirus software and keep it updated

Outside of training your employees on the dangers of poor cyber security practices, strong antivirus software is one of the best ways to protect your data. Organizations should conduct thorough research to choose software that’s best for their needs. Once installed, antivirus programs should be kept up to date.

Instill safe web browsing practices

Deceptive and malicious websites can easily infect your network, often leading to more serious cyber attacks. To protect your organization, employees should be trained on proper web usage and instructed to only interact with secured websites. For further protection, companies should consider blocking known threats and potentially malicious webpages outright.

Create strong password policies

Ongoing password management can help prevent unauthorized attackers from compromising your organization’s password-protected information. Effective password management protects the integrity, availability and confidentiality of an organization’s passwords.

Above all, you’ll want to create a password policy that specifies all of the organization’s requirements related to password management. This policy should require employees to change their password on a regular basis, avoid using the same password for multiple accounts and use special characters in their password.

Connect with us at Mumby Insurance Brokers to learn more by calling 1- 800-446-5745 or via our Contact page.