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.

Read more
Get ₹5 Cr Cover starting at ₹4,60,000*

Get right expert advice

Hassle free policy

Speedy Claims

Get Free Access to Report: Cyber Breaches in Industry

Fast-track your search with instant quotes from prominent insurers

Don't Gamble with Cybersecurity - Insure Your Business Now!

Step 1/2

Don't Gamble with Cybersecurity - Insure Your Business Now!

secure-icon We don't spam
Are you buying the policy for?
Get Updates on WhatsApp
Check Plans for Free

Don't Gamble with Cybersecurity - Insure Your Business Now!

Step 2/2
Fast-track your search with instant quotes from prominent insurers
Expert advice

Buy right

Instant policy

Quick & Hassle free

Dedicated team

Speedy Claims

Get Free Access to Report: Cyber Breaches in Industry

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
Cyber Insurance Companies

Now help your friend get Business Insurance

Your referral is greatly appreciated!

Our team will reach out to your friend soon to help with their business insurance requirements.

Cyber Insurance News

Payment Gateway Company Reports Massive ₹16,180 Crore Cyber Theft
Payment Gateway Company Reports Massive ₹16,180 Crore Cyber Theft
In a startling revelation, the Thane Police have exposed a massive cyber heist, with cybercriminals pilfering an astonishing ₹16,180 crore. This...Read more
Cybercriminals Target Former Union Minister Dayanidhi Maran's Savings...
Cybercriminals Target Former Union Minister Dayanidhi Maran's Savings...
In a concerning development, cybercriminals managed to siphon off ₹99,999 from the personal savings account of Dayanidhi Maran, the former Union...Read more
Mumbai Police Nab Four Cyber Fraudsters in Extensive 22-Day Operation
Mumbai Police Nab Four Cyber Fraudsters in Extensive 22-Day Operation
In a 22-day operation spanning four states, including Uttar Pradesh, Rajasthan, Delhi and Madhya Pradesh, a Mumbai Police task force comprising seven...Read more
India Grapples with Mounting Cybersecurity Risks, According to Palo...
India Grapples with Mounting Cybersecurity Risks, According to Palo...
India is confronting a significant threat of cyberattacks aimed at its critical infrastructure, public sector, and essential services, as per a report...Read more
Pune-Based Engineering Supplies Firm Loses Over 22 Lakh in Cyber Scam
Pune-Based Engineering Supplies Firm Loses Over 22 Lakh in Cyber Scam
Pune City police uncovered a suspected 'man-in-the-middle' cyber attack that cost a Pune-based engineering supplies firm more than 24,000 Euros...Read more
Cyber Insurance Articles
As per the Indian Computer Emergency Response Team, 12.67 lakh cyber-attacks were registered by November 2022...Read more
21 Mar 2023 by Policybazaar 11819 Views
Every shop owner must put in extra efforts to make their retail store as safe as possible. To create a secure...Read more
29 Apr 2022 by Policybazaar 6068 Views
We live in the digital era. Now, almost everything is possible online as every other organization is going digital...Read more
12 Apr 2022 by Policybazaar 11297 Views
The cyber risks have increased after the outbreak of Covid-19. One of the main reasons behind the increment in...Read more
31 Mar 2022 by Policybazaar 4508 Views
Cyber insurance for the banking finance & insurance industry offers financial protection against potential...Read more
28 Feb 2023 by Policybazaar 1782 Views
Cybersecurity legislation in India is a critical line of defence...Read more
12 Jun 2024 by Policybazaar 43 Views
India's growing reliance on digital infrastructure has brought...Read more
11 Jun 2024 by Policybazaar 47 Views
In recent years, India has witnessed a remarkable surge in...Read more
11 Jun 2024 by Policybazaar 48 Views
As cyber threats grow more sophisticated and frequent, India is...Read more
11 Jun 2024 by Policybazaar 45 Views
The manufacturing industry is undergoing a transformative shift...Read more
10 Jun 2024 by Policybazaar 56 Views
Policybazaar for Business - Cyber Insurance - Customer Reviews
View all
Based on 47 reviews
out of 5
Based on 47 reviews
12 users
34 users
1 users
0 users
0 users
4.3 October 11, 2022
Aarti Singh
Knowledegable Team
The representatives at PolicyBazaar were knowledgeable, patient and genuinely committed to helping me find the best insurance policy for my requirements. They took the time to answer all my questions and provide valuable guidance, ensuring that I had a thorough understanding of the coverage details and terms. THANKS.
4.3 October 06, 2022
Quick And Hassle Free
After seeing a rise in cyber attacks in many of the companies, i decided to purchase a cyber insurance policy for my start up. I went on the Policy Bazaar website and learned about the coverage in detail and purchased it from their website only. It was quick and hassle-free purchase.
4.5 October 04, 2022
Paperless Process
We bought the contractual liability insurance from policybazaar and received the best overall package. The process was paperless as we applied for insurance online and the support was amazing.
4.5 October 03, 2022
Extensive Coverage
We thoroughly checked all the benefits and features and decided to buy a contractual liability policy from Policybazaar. It provides all the necessary features to safeguard our business against any loss.
4.5 October 02, 2022
Easy To Buy
It was easy to buy insurance from Policybazaar and customer support was also amazing to clear all the doubts. Contractual liability insurance is essential for my business and I could not get a better deal than this.
4.5 October 01, 2022
Easy Plan Comparision
An ideal Contractual Liability Insurance policy purchased to protect our business that we ecounter in our everyday operations. Policybazaar offers a platform to compare multiple plans.
4.5 September 30, 2022
No Broker And Paper Work
Great experience at Policybazaar. We did not know that buying Contractual Liability Insurance could be that easy. Also there is no broker and paperwork.
4.8 September 29, 2022
Perfect Insurance Coverage
I purchased Contractual Liability Insurance from Policybazaar and the coverage they provided is perfect to keep my hardware business safe various unforeseen instances.
New Delhi
4.5 March 18, 2022
Cloud Storage Cover
I wanted to purchase a cyber insurance policy could provide coverage for the data stored in cloud network. I went on the Policybazaar website and look up for plans that would provide me with this coverage. I compared different plans and in a matter of minutes i found the right cyber insurance plan that would fit my requirement.
4.5 March 17, 2022
Good User Interface
I was looking for a cyber insurance policy online. After looking for the insurance plan online I landed on the Policybazaar website. Trust me, the user interface of the website is so good that i was able to locate the cyber insurance plan and purchase it in not more than 10 minutes. Thanks Policybazaar.