The Top 3 Cybersecurity Threats Facing Melbourne Businesses

Cybersecurity Threats

As more businesses continue to store sensitive company data in cyberspace, cyber threats and cyber-attacks have become very real and dangerous problems for Melbourne’s small business owners. With hackers becoming increasingly skilled with the latest technology, securing corporate information networks is now more critical than ever.

In this article, we’ll discuss the top three cybersecurity threats that Melbourne businesses face today – from ransomware attacks to cloud storage leaks – so that you can better safeguard your digital assets. Keep reading to learn which measures you should implement for optimum online protection.

1. Ransomware

Ransomware is among the most prevalent cyber attacks affecting hundreds of companies yearly. It’s a kind of malware, however, it could block your company’s devices and demand a ransom in exchange for their release.

Expert Insights reports that small businesses are particularly at being at risk from this type of attack. Studies have found that the majority of ransomware attacks target small businesses with an average ransom requirement of $116,000.

Smaller companies are more likely to be willing to pay the ransom because their data is usually not protected and must be operational as quickly as possible.

To avoid these threats, Businesses must also have an effective endpoint security system and a reliable cloud backup solution to guard against any data loss.

2. Insider jobs

Although it’s not a typical risk, it’s essential to recognize that insider jobs are on the rise. The Verizon study reveals that more than 30 percent of data breaches resulted from insider threats.

Insider threats pose a risk for an organization that is caused by the actions of former employees, employees, business contractors, or associates. They can gain access to crucial information about your company and can cause harmful consequences through malice, greed, naivety, and inattention.

To protect against insider threats, small-scale businesses must ensure that they have a policy of security consciousness in their company.

3. Web exploit attacks

Web exploit attacks use gaps or flaws in your online software or the online tools you use to gain access to your sensitive data.

Mimecast explains in detail: ‘Web applications can be exposed to attacks for various reasons, including system flaws that stem from improper coding, misconfigured web servers, application design flaws or failure to validate forms.

These weaknesses and vulnerabilities allow attackers to gain access to databases that can contain sensitive information. Because web applications must be available to customers at all times, they’re an easy target for attackers to exploit.’

So while there’s a large variety of web application attacks, there are application security programs designed to protect against a large portion of them. They include automated vulnerability scanning and security testing that help organizations find, analyze and mitigate vulnerabilities and misconfigurations, and web application firewalls to protect and block malicious traffic.

Some offerings may even provide secure development testing, where security teams will consider the results of attacks on a system and work to make it as safe as possible.

Final Thoughts

The Melbourne cybersecurity company is an industry leader in providing cutting-edge security solutions to protect businesses from cyber threats. Their experienced team of experts utilizes the latest technology, such as AI and machine learning, to ensure your business data is secure from external attack.

They understand that what works for one business won’t work for another, so we tailor our solutions to your unique business needs. So don’t wait – take the first step in protecting your company with the best cybersecurity solutions from the Melbourne cybersecurity company.

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