Cybersecurity in business warrants greater attention in today’s world. If you are aware of your own vulnerabilities, you can get a head start and effectively defend against hacker attacks. At TITANS, we have summarised the threats that are evolving alongside modern technology and we recommend strategies for your company to prevent them.

Cybercrime, terrorism and hacker activism are causing concerns for businesses all over the world. According to Deloitte’s Future of Cyber Report 2023, 91% of organizations experienced at least one cyber incident last year. Moreover, experts agree that in the politically significant year of 2024, companies face increased risks related to uncertainty about regulatory policies and government intervention. Statista reports that the global cost of cybercrime will exceed US$13.82 trillion by 2028. Spreading awareness is crucial so at TITANS we have put together a handy summary of the most serious threats along with prevention measures worth considering.

Protect Company Data Diligently      

With an increasing amount of client information being stored digitally, data leaks have become a major concern. Use encryption and frequent security audits to protect them. In addition, comply with data protection laws depending on your market. You can also make it more difficult for attackers to succeed by storing information securely in the cloud. Another pillar of cybersecurity is a responsible approach to passwords. Some hacker groups try their luck by quickly entering millions of passwords, while others may monitor your social media activity for clues. Therefore, use unique passwords for different business applications and consider implementing an encrypted centralized password management system or multi-factor authentication.

Implement Software and Network Restrictions

Software updates are not just annoying notifications, they often contain critical security patches for vulnerabilities. So, pay attention to them regularly on all company devices. At the same time, set restrictions on who can install new software on company systems, and keep a record of everything installed so your IT team can maintain the visibility they need. Say goodbye to both unused applications and software that production companies no longer support or update.

Secure your corporate Wi-Fi network and instruct your staff to connect outside the office using encrypted VPNs or mobile networks. Remember that the Internet of Things (IoT), including connected printers and cameras, also presents an opportunity for hacker groups to infiltrate your network. Therefore, secure every device connected to your network with the same thoroughness with which you approach terminals, laptops, and mobile devices.

Invest In Advanced Security Solutions

You can achieve early detection and prevention of attacks by adopting endpoint protection, firewalls, anti-virus software and intrusion detection or prevention systems. Given that cybercrimes are increasingly driven by artificial intelligence (AI) and machine learning, consider investing in AI-powered protection solutions that can respond quickly to new threats. If you have limited resources, don’t be afraid to seek expert support from outside your organization. An example of a valuable investment might be partnering with a reputable provider of managed cybersecurity services such as continuous monitoring, threat reporting, and expert advice. An alternative is ethical hacking, which will identify any vulnerable areas of your infrastructure and allow you to learn how to better protect your company.

Train Human Firewalls in The Company

One of the biggest drivers of cyberattacks aimed at companies is employee mistakes. These mistakes are targeted by a group of attacks called social engineering, which employs sophisticated manipulation strategies. They include phishing (fraudulent emails, messages or websites), whaling (a targeted attack on high-ranking employees such as the CEO or CFO) or scareware (a form of malware with false security warnings). If a person clicks on a link in a fraudulent message, they may download ransomware onto their device that encrypts data and demands payment in exchange for decrypting it. Therefore, double-check remote desktop access requests as well. It may appear that it’s your IT team, but it could actually be a hacker attack.

Encourage internal staff to speak up if they receive suspicious messages, test them regularly with fraud simulations, and reward them if they raise an issue. Corporate finance departments should also be on the lookout for fraudulent billing or payroll schemes and check all invoices carefully. If someone insists on paying by bank transfer, cryptocurrency or gift card, it is probably a fraudulent scheme.

Another example of social engineering is the honey trap, i.e. the creation of a false identity to gain access to sensitive information by winning your trust. Shoulder surfing or spying on your devices through hidden cameras or binoculars can also cause great damage. So be aware of your surroundings and use privacy filters. Don’t forget that hacker groups routinely look for confidential information even in your company’s trash can. In other cases, they may try to slip into secure areas by walking closely behind you (tailgating), or by posing as delivery service or staff who need help (this tactic is called piggybacking). Deepfakes, i.e. fake videos, audio recordings or live streams created by AI, are a very serious threat. Always make sure to check for visible shadows, eye-blinking or unnatural wrinkles in the videos. Listen for audio quality, especially subtle differences in pronunciation.

Always Be One Step Ahead

Improving technology defenses and security policies is an essential weapon in the fight against cyber–attacks. Equally important is cultivating a culture of vigilance and regular training for internal staff to help them recognise and avoid common hacking tactics. Pay attention to the early signs that are present long before an attack succeeds. No matter how strong your protection is, it’s critical to have a well-defined security incident response plan. It should contain steps that will be taken in the event of a protection breach, including communication procedures and legal obligations.