9 de mayo de 2024
Recently, our team attended a fascinating workshop hosted by our client, The Alexander Group about the State of Cybersecurity in 2024. The workshop's featured speaker was Fred Moore, President of Moore Computing LLC, Read on to learn some of Fred's key points and his recommendations for the critical actions small business owners can take to safeguard their businesses, employees, assets, and their reputation. What comes to mind when you think of a hacker or a digital scammer? A lone, 40-year-old man typing away at a computer monitor hunkered down in his mother's basement? An older adult who thinks she's on the phone with her granddaughter? Certainly not you? If that's your belief, it's time for a reality check. Cybercrime has increased by over 250% over the last two years, and the global cost of cybercrime is estimated to have exceeded 6 trillion dollars in 2023. The criminals behind these numbers are running highly efficient and effective operations – and many cybercrime organizations have hundreds of members/employees. The cybercrime industry intersects with international law, global politics, high-level business interests, fast-paced technological advancements, and human trafficking. While this information can be daunting, and the large-scale implications seem intangible, small business owners can't let overwhelming feelings prevent them from taking action. While many cybercrime organizations target large corporations, small businesses continue to be the most frequent victims of digital scams. Types of Cyber Crime in 2024 Phishing Scams Phishing remains one of the most common scams affecting business owners and employees. The idea behind phishing is simple: a bad actor sends a message pretending to be someone else and prompting the recipient to reveal private information. Phishing scams are constantly evolving, with scammers designing email messages that resemble a standard email from a company, a client, or even the recipient's boss. Fred asserts that vigilance with links is vital. Be wary of any links sent in emails, especially those that ask you to share certain information. Verify the link before clicking on it. Take caution if you notice glaring spelling errors, conspicuous vocabulary, or something that needs to look right in the email's footer. It takes time to recognize these emails, and training can help. Ransomware Ransomware is one of the most detrimental cybercrimes. When cybercriminals target individuals or businesses with ransomware, a virus infects the computer system, encrypts data, and blocks the victim from accessing their information until they pay a ransom. The ramifications of a ransomware attack can be disastrous. Even if an attacked company can work with their legal team to pay the ransom or regain their data, the average downtime from a ransomware event is 21 days . When MGM Grand suffered a severe ransomware attack in 2023, getting their casinos and properties up and running took days since everything was tied to the computer system. Businesses may incur costs from the ransomware attack itself, along with costs from loss of business and reputation. Business Email Compromise Business email compromise scams are another common issue. These scams take phishing one step further, with cyber criminals hijacking email accounts. Once the bad actor can access the victim's account, they often orchestrate unauthorized fund transfers or manipulate account details. Like phishing, vigilant training and awareness are critical to lessen the chance of these attacks. Always be alert, never cut corners, and always follow company protocols to minimize risk.