Don’t Be a Victim of Cyberattacks This Holiday Season

There is never a good time for cyberattacks to occur. However, any cyberattack on your business process during the holiday season could reap disastrous results.

This is because, during the holiday season, users are more active than ever on the Internet, whether online retail, booking tickets, etc. The greater the number of active users, the more opportunities businesses have to exploit them, as a substantial amount of revenue can be lost during this time.

As per CSO Online, Ponemon Institute pegs the average cost of a single attack at $5 million, with $1.25 million—a quarter of the total—attributable to system downtime and another $1.5 million (30 percent) to IT and end-user productivity loss.

The costs mentioned above occur due to the incapability of the employees to carry out their work during the attack. These costs exclude the revenue that the attacker might ask as a ransom for ceasing the attack.

Whether it is eCommerce, accounting, construction, healthcare, or others, there are certain precautions that every industry must follow during the holiday season to mitigate the effects of cyberattacks or prevent them altogether. So, let’s begin by learning how you can protect your business from cyberattacks.

Types Of Cyberattacks

There are numerous ways in which the attackers can carry out a cyberattack on your business online. These may also differ based on the motive of the attack. For instance, an attacker may intend to extort money from the business owner. Meanwhile, competitors might plan for others to bring a business down. Some attackers do it just because they can.

There are numerous ways in which cyberattacks creep up now and then. However, the following types of attacks are the most impactful and are a menace to businesses in the present scenario.

• Ransomware Attacks – This type of attack involves the hijacking of PCs or servers with the help of malware. The attacker gains full access to your system and asks for a ransom to free your system. Failing to comply leads to the attacker leaking critical information publicly.
• DDoS Attacks – Distributed Denial of Service (DDoS) attacks are perpetrated by bombarding a server or group of servers with vast amounts of data, such as SYN requests. The server ultimately crashes if the attack is not mitigated in time.
• Phishing Attacks – In the case of phishing attacks, an email is sent to you with a message luring you into opening the attachment containing the malware. The message may be, “You have won an Audi car.” The hackers could also ask you to open a URL or provide your credit card or bank details.
• SQL Injection Attack – The attackers inject SQL commands into the SQL database of a website to retrieve confidential information. The website may contain information regarding the customer’s credit card, passwords, and personal information.

What Are The Tips To Avoid Holiday Cyberattacks?

1. Use Strong Passwords and Multi-factor Authentication

In the digital world, passwords are equivalent to the locks you put on safes to protect your assets. In today’s world, where you have to set a password for every account you create online, including social media, online banking, and cloud servers, there can be a lethargy in creating strong passwords.

However, creating a strong password for every account on the Internet is strongly advised. A weak password can be hacked easily, and all your personal or business-related data can be extracted. Users generally do not pay heed while setting up a password and follow a common pattern such as –

• aabbccdd
• 12345
• John@123

Try not to use predictable patterns or passwords with personal details such as date of birth, spouse’s name, or your name.

A strong password policy should be implemented in the offices, and every employee should be made aware of the importance of a strong password.

Under the strong password policy, the password should combine alphabets, numbers, and special characters. It is also advised to keep the password at least 8 characters long.

You should also implement multi-factor authentication, ensuring the data is not compromised even if your password gets hacked.

2. Choose a Secure Cloud Provider

If you find implementing the security procedures necessary to secure your business from cyberattacks unfeasible, you can always opt for a cloud hosting provider.

Competent cloud providers deploy advanced security practices and safeguards to protect your data. These safeguards may be physical, administrative, or technical, implementing methods like Intrusion Prevention and Detection Systems (IPS & IDS), data encryption, access controls, and multi-factor authentication.

For these security measures to be implemented in the local setup, you would need a hefty amount of revenue and a lot of effort.

Why go through all that trouble when you can get the cloud provider to do your job?

3. Backup Your Data

Whether you are hosting your process on the cloud or deploying a local setup, it is essential to back up your critical data. In the case of a Ransomware attack, when hackers compromise your system, you must have access to your data on redundant data storage devices.

The hackers who control your system threaten you by corrupting or deleting the data. However, if you have a copy of the data, you do not need to comply with their demands.

Try to keep a copy of your data in multiple locations to be able to retrieve the data even if the entire network of one area is compromised. You should also implement backup policies in your office so your data gets backed up regularly, not specifically during the holiday season.

4. Take Care of Your Local Setup

Your local setup consists of PCs, network devices, local servers, and other equipment. It is required to take good care of your local systems. The desktops should be installed with the latest anti-virus and anti-malware software. The operating system of your desktop should be updated regularly with security patches to counter any cyberattacks.

The local firewall, whether hardware or software, monitors the traffic and prevents malicious traffic from harming your network. It should also be updated regularly to ensure data protection.

5. Intelligent, Fully Managed Security Solutions

For robust holiday cybersecurity, fully managed security solutions offer unmatched protection by automatically detecting and mitigating threats in real-time. With certified security experts, these solutions quickly address vulnerabilities and defend against complex threats, including malicious bots, API attacks, malware, and more.

Operating 24/7, these solutions ensure your business remains secure—whether your team is at total capacity or scaled down for the holidays.

6. Keep Everything Updated

Keeping your operating system and security software up to date is essential for protecting your business from cyber threats. Unpatched vulnerabilities and outdated systems can provide easy entry points for attackers, making regularly applying security patches and updates crucial. This proactive approach fortifies your defenses against the latest threats and minimizes the risk of data breaches and unauthorized access to sensitive information.

Beyond security, updated software often improves performance and introduces new features that enhance operational efficiency. Establishing a routine update schedule demonstrates your commitment to security and operational excellence, fostering a culture of vigilance within your organization.

7. Spread Awareness

Implementing all the security methods is of no use if your employees themselves are not aware of the do’s and don’ts for preventing cyberattacks. It is recommended that sessions on security practices be conducted before the holiday season.

Employees should be instructed to set strong passwords for all their accounts. They should be educated about the various types of cyberattacks and how to prevent them. For instance, employees should be instructed to refrain from opening emails from unknown addresses or untrusted URLs, or they could be victims of phishing attacks.

If the employees are working remotely, they should not connect to any unknown Wi-fi network as these can be hacked easily. Instead, a secure VPN should be used to connect to your office.

Be Safe This Holiday Season

The holiday season is a time for celebration and evaluating your year’s hard work. It should not be spent trying to fend against cyberattacks. Hence, you must be prepared and implement the best security practices and methods.

Be sure to backup your data on other storage devices to prevent you from being a victim of a ransomware attack. Inform your employees of the best security practices and update your firewalls and operating systems with security patches. Make a habit of creating a strong password for all your accounts. You can also opt for a cloud provider (Ace Cloud Hosting) to host your business process securely.

You can also make changes specific to your business process, along with all the suggested tips.

Do you have some questions about the best security practices? Do write to us in the comments section.