Latest Statistics About Cyber Theft

Each day, all over the world, companies are being hit with malware and ransomware attacks. Hospitals and small businesses have become the biggest targets for hackers. The reason is simple. They aren’t as well prepared as larger organizations. Many don’t have the best network security. Small businesses and healthcare organizations rarely train their employees on how malware and ransomware attacks occur.

With the cost of one data breach now hovering between $1 million and $3 million, this has become an important topic for boardrooms and managers.

Worthwhile Investments in Data Security

Whether you become the victim of a data breach or not, all companies must share the burden of cybercrimes. Today’s organizations are spending more than ever on security and yet the number of attacks increases each year. One area where you can begin to make a difference is employee training. Your staff must learn all about data breaches. They should become experts at identifying a phishing email. Spear-Phishing attacks have become prevalent and yet many employees and executives don’t know what spear-phishing is.

An Explanation of Spear-Phishing

Because of the prevalence of social media, it’s very easy to find out about the executives at your company. If you have a LinkedIn page, then all your executives are probably listed there as well as on your website. That makes it easy for a hacker to take the names of your top executives, then create an effective Spear-Phishing campaign.

They begin by learning a few things about your executives. Again, this information is freely available online. Next, they craft email messages that sound exactly like they might come from your CIO or CFO. Then they send these emails out to people at your company. These are good employees but they’re busy so they don’t really pay attention to the wording or the logos, etc. There are almost always tell-tale signs if you know what to look for.

In one such Spear-Phishing effort, hackers sent emails to the accounting department in the name of the company’s CEO. They ask that $56,000 be wired to a certain bank account. These employees did as they were told. They wired the money, only to find out later that their CEO knew nothing about the wire transfer and hadn’t ordered it. By then, it was too late. The money was gone.

Cyber Crimes Are Evolving

This has become a common occurrence. Hackers and cyber thieves are upping their game. They’re working overtime to create targeted phishing campaigns that could fool anyone. They’re developing new ransomware viruses that go to work immediately locking down all your files so you aren’t able to access anything. The only recourse? Pay the ransom and hope they keep the word and restore all your data.

If you’re lucky, they’ll only want a small amount of money this time. In some cases, though hackers make huge financial demands that range from a few thousand dollars to $100,000. They’re targeting small businesses and healthcare organizations right now. Both these types of entities have become good, easy targets for hackers.

Why Attack Small Businesses?

In small businesses, there usually aren’t very strong security protocols in place. Many just have antivirus software and a firewall and that’s about it. Any hacker worth his salt could break through those defenses in a few moments. Now that makes thousands of small businesses across America vulnerable to hackers.

For healthcare organizations, cyber thieves are anxious to break through their security fortress because of the treasure trove of information that lies waiting. Anyone in the healthcare industry should understand this. Doctors, hospitals and clinics collect much more information about each individual they see. Healthcare records include more than just your name, address, phone number, and date of birth. They also include sensitive information about your health. This type of information will bring premium prices on the dark web. It’s valuable. And it’s readily available. So why not steal it?

What You Can Do

Your company should have a layered security approach that addresses each area where hackers could break in and steal information. Your employees should get in the habit of creating stronger passwords. Your company should provide quarterly training for all employees, including executives. Your network should be monitored and managed 24/7. There are many other ways to protect your IT infrastructure from hackers.

Contact Us

If you’d like to learn more about how HitsTech can protect your business from the growing number of global cyber-attacks, please contact us. HitsTech can take care of your network security and make sure your employees are ready for the next attack. Contact our team in North Carolina.

In the meantime, make sure you and your staff stays up-to-date on what’s happening in the world of IT. Visit Our Blog regularly. We continuously post new content that will help you use technology to grow your business. Here are a few sample articles:

https://www.hitstech.net/uncategorized/whats-inside-health-it/

https://www.hitstech.net/uncategorized/steps-to-avoid-hipaa-compliance-violations-and-data-breaches/

https://www.hitstech.net/uncategorized/hipaa-violations-are-not-limited-to-data-disclosure/