What if we told you that the first cyberattack was in 1962?
Cybercrime is often assumed to be a ‘new’ phenomenon that we’ve had to deal with in the last 20+ years since the boom and growth of the internet. However, cybercrime has slowly crept up on us, advancing and shapeshifting to create problems for organisations and individuals alike.
Today, in 2024, cyberattacks have become even more advanced, meaning that organisations must review their corporate infrastructure to reduce the risk of a cyberattack.
“Over the past decade, cybercrime has become big business — a $1.5T industry with an entire ecosystem of organizations run like legitimate organizations. Some offer technical leadership and step-by-step instructions through robust customer service via ransomware-as-a-service. The most brazen threat actors have even taken out pop-up ads selling their products.” - Arctic Wolf
The truth is, cybercrime can be disguised as something for good, whether it’s using phishing techniques to get personal information from internet users, through to hacking and software piracy to cause large-scale data leaks.
Unfortunately, cybercrime isn’t something that can be avoided altogether. Like day-to-day crime, it’s something you can manage and safeguard, whilst also being aware that it could strike at any time.
“Cyberattacks always happen when you least expect them. And when they happen, they happen quickly. Responding appropriately is not just the responsibility of your cybersecurity team; everyone in the organization has a role to play. Is your team prepared? Do they know what to do and what not to do? Most importantly, has your whole team practiced their response?” - HBR
So, how can businesses ‘cyber-proof’ themselves in the ever-changing technological ecosystem?
Invest in OTPs
OTPs, also known as ‘one-time passwords’ are a great way of securing certain programs and applications using two-factor authentication. The great thing is that a lot of websites and platforms also have this in place, and the key is ensuring that employees using the technology are upholding security standards.
If you’re using OTPs for company-sensitive information and platforms, you must have access to all devices that are used for this process. For example, having OTPs sent to employees’ personal phones
Educate on Phishing
Phishing can happen to us in our personal lives, whether it’s an e-mail we get from someone pretending to be someone else or simply someone trying their luck to get information or money from you. Within a professional setting, phishing scams can be rampant, in particular CEO fraud.
“CEO fraud is a type of scam in which a person poses as a CEO or another high-level executive to trick employees or others into providing them with confidential information or money. The scammer may contact victims via email, phone or social media, and use fake websites or other methods to make their scam appear legitimate.” - [source]
Look at Blockchain for cloud storage
Blockchain technology is incredibly hacker-proof and is a secure but user-friendly way of storing sensitive information. Particularly for cloud platforms, blockchain technology is a popular solution. If you’re looking for a cloud system, or you’re looking to upgrade what you’re currently using - consider Blockchain technology. For example, some of the biggest organisations (such as MasterCard, Microsoft and Amazon
Look at VPNs for remote employees
In the world of hybrid (or even fully remote) working, it can be difficult to secure company data when you don’t have access to devices or have devices on a shared system. Even with cloud storage, OTPs and educating employees on cyberattacks, you want to ensure that you have multiple layers of security. Another way of doing this is by having VPNs that act as an additional layer of protection for remote employees, enabling them to access websites or files securely on a separate system. This can also work well for employees who are travelling a lot and may not have a secure network at times.
Finally, it’s all about education
Each organisation is different, and a bank will be susceptible to different types of cyberattacks in comparison to healthcare organisations or government bodies.
It’s important to educate employees on cyberattacks and provide training and development on basic things such as phishing, non-secure networks, and updating passwords regularly. Many of us consider ourselves to be “tech-savvy” but the truth is that cyberattacks can happen to well-prepared, tech-literate organisations.
