9 Common Reasons Behind Cyber Attacks

Cyberattacks are continuously rising and pose a major concern for every business. Cybersecurity is the only measure to prevent these attacks and safeguard your business. According to the report of Computer Emergency Response Team Data, India recorded 6,07,220 cybersecurity breaches in the year 2021. Forecasts say this number will rapidly increase by 2022.

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9 Commons Types of Cybersecurity Attacks

One of the best ways to protect your business from this threat is by knowing the different types of attacks and taking preventive measures to secure your networks. Usually, cyberattacks are of two types. Some target the security loopholes created by human error, negligence, or employee turnover. Whereas other attacks target security gaps in the networks themselves.

To know more about the common types of cybersecurity attacks, read below-

  1. Password-based Attacks

    In password-based attacks, the hackers smartly use some software and brute force attacks to access protected accounts. This password-cracking software can test several potential passwords as users usually follow a pattern of using an upper case, lower case, and punctuation mark while creating a password. Therefore, it becomes easy for the hackers and these password hacking devices to guess the password to access your secured account.

    The best way to protect your account is to create a random password that does not follow a pattern. Also, you can use long passwords as guessing them is not an easy job for the machines.

    Furthermore, be sure to use different passwords for business and personal uses. Change them regularly and consider using a password manager, as it will make everything easier.

  2. Invisible Systematic Risk

    Another mode of cybersecurity attack can be a system attack due to negligence in performing regular patching activity to secure the server and choosing not to update the software to save budget. These actions create a gap in the sense of security and increase the risk to the system's software.

    You can eliminate this problem by recognising the problem, reporting it, and discussing systematic risk for security management. Moreover, invest to upgrade your old hardware and software to tighten your system's security.

  3. Social Engineering Attack

    Social engineering attacks include password phishing emails. Under this, hackers reach out to their targets by copying the email format of companies like Amazon, Flipkart, American Express, or PayPal. Hackers do this to attract potential victims and hope that they will click on the email and enter their banking details.

    The majority of attacks are part of spear phishing, and this is a strategic move where spoof emails are carefully customised to deceive the receiver.

    To prevent your business from social engineering attacks, you should train & educate the employees to spot the spam emails. Moreover, encourage the employees to be extra cautious before entering their personal information like bank details.

    Moreover, you can implement two-factor authentication for secure login. It includes receiving a login OTP SMS on a registered mobile number. You can also install phishing detector applications that include email filters, firewalls, and anti-virus software. It automatically gives a warning or alert if they detect something suspicious.

  4. Social Media Attacks

    You might fall into the trap of a social media attack through spam friend requests and invitations to page like or play games. Here the target will accept the request or invitation and grant access to you to take advantage of your profile.

    As a business owner, you can use a single platform to operate the company's social media accounts and educate your social media team to prevent hacks. Additionally, do not share the passwords for these accounts.

  5. Malware Attacks

    Malware refers to malicious software. It is in the form of viruses, Trojan horses, and worms to encrypt the important files.

    The best way to protect your system from malware attacks is by having software protected by installing anti-virus and updating your firewalls.

  6. Denial-of-service Attacks

    In a denial-of-service attack, hackers push the website with unwanted traffic and data until the website crashes. They render a site and make it unavailable to the real customers. However, this does not have a direct financial loss, but indirectly it hampers the sales and website visits.

    E-commerce websites are the easy targets of denial-of-service attacks and hackers work hard to find high-profile businesses like media houses, law firms, and government organisations.

    To protect your business from this virus, keep your anti-virus software updated. Moreover, you should monitor your daily traffic report to know the traffic source and take action in case of a strange traffic pattern.

  7. Eavesdropping Attack

    In this, hackers secretly listen to the data that move through a network. They secretly access your passwords, bank card details, and other sensitive data. They hack the website where users usually share their private information.

    To prevent your system from eavesdropping attacks, use data encryption in transit.

  8. Man-in-the-middle attacks

    In a man-in-the-middle attack, the data flow gets disrupted between the users and the servers. The hacker steps in the middle of this data transmission process. Moreover, a user is not aware of the data breach.

    To prevent man-in-the-middle attacks, enhance the security of your website. As a user, enter any confidential information to the website that has HTTPS in its URL instead of HTTP. Avoid using a website that warns you about the site's security certificate is out-of-date or not updated.

  9. Drive-by Download Attacks

    With this technique of attack, hackers try to spread malware by casting a wide net to attack specific targets. When you visit this site, the webserver code automatically downloads malware or redirects you to any corrupted site. Another mode of drive-by-download is through pop-up notifications or spam emails.

    To shield your system from this attack, keep your firewall software updated. Try to keep minimum apps and plugins installed on your device as these increase the chances of attack.

Need of the Hour- Cyber Insurance Online Policy

To financially secure your business against any types of cyber attack, your company must buy cyber insurance online. It offers coverage to corporates, businesses, and firms against unauthorised access, cyber extortion, data breaches, etc.

Moreover, it keeps your sensitive and confidential business data like customer information and employee data safe. In the world of the internet, it has become easy for hackers to reach out to their targeted customers. Therefore, all the digital platforms are more prone to cyberattacks. Cyber insurance will give extensive protection against cybercrimes and cyber threats.

Final Words

As a business owner, you must take steps to prevent your system from cyberattacks. You can enhance cyber security expertise and keep your firewalls updated. Moreover, boost your security with the right cyber insurance online policy and ensure a seamless experience.

Written By: PolicyBazaar - Updated: 18 January 2023
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