The cybercrime industry is projected to cost the world over $10 trillion by the end of 2025. A major contributing factor is hackers who target businesses to compromise their sensitive data. Unfortunately, there’s no shortage of network security issues that businesses face.

Understanding common network security threats will help ensure you take the appropriate precautions and safeguard your sensitive information. The sooner you identify them, the faster you can take action. Let’s explore the key information you should keep in mind when moving forward.

Phishing Attacks

These network security threats occur when a hacker masquerades as a reputable entity. For example, you might receive an email that appears to be from your company’s bank. It could claim they need you to log in and provide certain information.

The link provided is a false copy of your bank’s website. This page is designed to steal your login information. Phishing attacks often instill urgency to make it more difficult for the users to think.

Experienced hackers can make false emails look almost identical to ones you’d receive from a legitimate source. Great ways to discern phishing attacks are checking the link destination and domain name

You should also look for awkward phrasing or grammatical errors. Reputable organizations wouldn’t send messages with these elements.

Ransomware

Ransomware is one of the most dangerous attacks companies have to deal with. It involves a hacker encrypting sensitive information at an organization. They then demand a ransom to be paid in cryptocurrency.

If the victim doesn’t pay, the hacker will either delete the data or leave it encrypted indefinitely. While this can be an overwhelming experience, it’s imperative to be level-headed. Even the FBI recommends against paying ransomware demands.

This money will only be used to facilitate future attacks. There’s also no guarantee they’ll return access to your information.

Insider Threats

People often overlook insider threats. However, even a single incident can have catastrophic consequences. For example, let’s assume a mid-level employee had access to proprietary data.

They could compromise it and sell it to competitors. They could also delete it to cause as much havoc as possible. You can mitigate this possibility by establishing access control for your IT infrastructure.

Implementing a zero-trust policy is one of the best ways to get started. As the name implies, no user is fully trusted.

Regardless of how often they’ve accessed information in the past, they’ll still need to authenticate themselves. Multi-factor authentication is also highly effective. This requires multiple forms of identification before access is granted.

Avoid These Common Network Security Issues

Many network security issues can easily your company’s operations. The information in this guide will help ensure you take the best course of action. From here, you’ll have no trouble keeping your data protected.

Inception Network Strategies is dedicated to providing affordable managed IT services without sacrificing quality. We’ve helped hundreds of clients reduce complexity, minimize costs, and navigate issues they would’ve otherwise struggled with. You’ll learn more about the benefits we provide when you book a consultation today.