Written by 
Ty

What is Cyber Security? Everything You Need to Know

Published On 
January 30, 2024

What is Cyber Security

Cyber security is the practice of safeguarding systems, networks, and programs from digital attacks aimed at accessing, altering, or destroying sensitive information, extorting money from users, or disrupting normal business operations. As the number of devices surpasses the global population and cyber attackers grow more innovative, implementing effective cyber security measures presents a significant challenge.

The Importance of Cyber Security

The significance of cyber security stems from the sheer volume and importance of data ranging from personal data to corporate intellectual property, and the potential financial gain from holding it hostage. A security breach can lead to devastating consequences like identity theft, extortion attempts, and loss of critical data. For businesses, a breach can also lead to financial losses, erosion of customer trust, and damage to the brand. Cyber security is not just a technology issue but a critical part of business operations that cannot be ignored.

Cyber Security for Small Businesses: Are You a Target?

Many small businesses mistakenly believe they are not targets for cyber attacks, but the reality is quite the opposite. Small businesses are often seen as easy targets because they usually have less stringent security measures. It's vital for businesses of all sizes to understand that cyber security is essential for protecting their assets, reputation, and customer trust.

Types of Cyber Security Explained

Cyber security encompasses various strategies to defend an organization's IT infrastructure from cyber threats. Understanding these categories facilitates the development of a holistic security strategy:

  • Network Security: Ensures the security of a network and its data by managing access and combating threats to prevent them from infiltrating or spreading. Techniques include firewalls, intrusion prevention systems (IPS), and virtual private networks (VPNs).

  • Information Security (InfoSec): Protects data integrity and privacy in storage and transit, employing data encryption, identity and access management (IAM), and security token services (STS).

  • Application Security: Aims to keep software and devices free of threats with secure coding practices, regular testing, and security patches, safeguarding against unauthorized access or modifications.

  • Operational Security (OpSec): Focuses on managing and protecting data assets, addressing asset management, environmental controls, and data leak prevention to secure how and where data is stored and shared.

  • User Education: Addresses the human element in cyber security, emphasizing the importance of training employees on phishing awareness, password management, and safe internet habits to mitigate risk.

Common Cyber Threats

Email Threats

Email threats are a constant and insidious form of cyber attack that can have devastating consequences for businesses. These threats often take the form of phishing, where attackers send deceptive emails that appear to be from trusted sources. The goal is to trick recipients into revealing sensitive information, clicking on malicious links, or opening harmful attachments. These emails can be highly sophisticated, mimicking the style and tone of legitimate communications from well-known companies or internal departments.

One common tactic is the use of dangerous attachments or links. These attachments, often disguised as invoices, work documents, or PDFs, can contain various forms of malware, including ransomware, which can encrypt critical business data and demand a ransom for its release. Links in these emails can redirect users to fraudulent websites designed to capture login credentials or personal information. Another sophisticated scam is Business Email Compromise (BEC), where attackers pose as company executives or trusted partners to request transfers of funds or sensitive data. These attacks are especially dangerous because they can bypass traditional security measures by exploiting human trust and curiosity.

  • Dangerous Attachments and Links: These are often used in phishing emails. Malicious attachments can contain malware, and links can lead to fraudulent websites designed to trick employees into entering their credentials.

  • Business Email Compromise (BEC): This is a sophisticated scam targeting businesses working with foreign suppliers or businesses that regularly perform wire transfer payments.

Malware

Includes viruses, worms, trojans, and ransomware that can infect both computer systems and mobile devices. It can breach a network through a vulnerability, such as when a user clicks a dangerous link or email attachment.

Malware, short for malicious software, encompasses various types of harmful software designed to damage, disrupt, or gain unauthorized access to computer systems. It includes viruses, which can corrupt or delete data on a computer; worms, which replicate themselves to spread to other devices; trojans, which disguise themselves as legitimate software to sneak onto devices; and ransomware, which locks users out of their systems or encrypts data, demanding a ransom for its return. Malware often infiltrates systems through email attachments, software downloads, or operating system vulnerabilities. Once inside, it can cause a range of problems from stealing sensitive data to rendering systems inoperable. Protecting against malware involves, at the very minimum, using updated antivirus software, maintaining strong firewalls, and ensuring all software and operating systems are regularly updated to patch vulnerabilities.

  • Viruses: These are malicious programs that, once activated, replicate themselves and spread to other programs and files, potentially causing significant system damage.

  • Worms: Similar to viruses, worms are self-replicating but can spread independently without needing to attach to a program.

  • Trojans: Disguised as legitimate software, trojans can create backdoors in your security to let other malware in.

  • Ransomware: This type of malware encrypts a user's files and demands payment for the decryption key, often threatening to delete the files after a deadline.

Phishing Attacks

Phishing attacks represent a significant threat to computer systems, primarily targeting individuals through deceptive communication, most commonly emails. These attacks cleverly mimic legitimate messages from reputable sources, such as banks, service providers, or even internal departments within an organization. The objective is to trick the recipient into revealing sensitive personal or corporate information, such as login credentials, credit card numbers, or social security details. The danger of phishing lies in its ability to bypass technical safeguards through social engineering, exploiting human trust and curiosity. As phishing techniques become more sophisticated, they can include elements like urgent language, convincing fake websites, and seemingly legitimate sender addresses, making them harder to identify. Educating employees about recognizing phishing attempts, verifying the authenticity of unexpected requests for information, and using advanced email filtering solutions are critical steps in mitigating this threat.

  • Spear Phishing: A more targeted form of phishing, where attackers customize their messages based on job positions or other personal information to trick recipients into revealing confidential data.

  • Whaling: A type of spear phishing targeting high-level executives to steal sensitive information.

  • Vishing and Smishing: Phone-based (voice phishing) or SMS-based phishing tactics.

Navigating Common Cyber Threats

Businesses face numerous cyber threats, each requiring specific awareness and preventive measures:

  • Email Threats: Include phishing and business email compromise (BEC) scams, leveraging deceptive emails to extract sensitive information or money. Techniques involve the use of malicious attachments or links to compromise security with the aim of launching ransomware attacks. Use of a third party email filtering system is critical to safeguarding inbound email.

  • Malware: A broad category of malicious software, including viruses, worms, trojans, and ransomware, capable of inflicting severe damage to systems and data. We recommend installing a reputable endpoint security solution

  • Phishing Attacks: Employ fraudulent communication to steal sensitive data, often through disguised emails posing as legitimate sources. While email filtering can do wonders to protect from phishing attacks, it's important to utilize DNS blocking solutions as another layer of security. These systems block dangerous websites and downloads should they not be detected by other cyber security solutions.

Cyber Security Best Practices

Adopting best practices in cyber security is crucial for defense against threats:

  • Regular Software Updates and Patch Management: Keeping software up to date is a fundamental aspect of cyber security. This practice extends beyond merely updating the operating system on computers; it also includes updating network equipment, routers, and wireless access points. Manufacturers frequently release software updates to address vulnerabilities that have been discovered since the last version. By ensuring that all components of your IT infrastructure are updated, you significantly reduce the risk of cyber attacks exploiting known weaknesses. Effective patch management policies and tools can automate this process, ensuring timely application of critical updates across the organization.

  • Strong Password Policies & Multi-Factor Authentication (MFA): Implementing strong password policies is crucial for securing access to systems and data. Passwords should be complex, unique, and regularly changed. However, passwords alone are often not enough. Multi-factor authentication (MFA) adds an additional layer of security by requiring users to provide two or more verification factors to gain access to a resource, such as a physical token, a fingerprint, or a one-time code sent to a mobile device. This practice significantly reduces the risk of unauthorized access, even if a password is compromised.

  • Continuous Monitoring and Incident Response Planning: Continuous monitoring of network and system activities is vital for the early detection of potential security incidents. By implementing advanced monitoring tools and services, organizations can identify suspicious activities and react promptly to mitigate threats. Alongside monitoring, having a well-defined incident response plan is essential. This plan should outline the steps to be taken in the event of a security breach, including containment strategies, communication protocols, and recovery processes. Being prepared can minimize the impact of an attack and expedite the return to normal operations.

  • Data Encryption and Secure Storage: Encrypting sensitive data is a key measure in protecting it from unauthorized access. Encryption should be applied both to data at rest and data in transit, ensuring that even if data is intercepted or accessed by unauthorized individuals, it remains unreadable without the encryption key. In addition to encryption, secure data storage solutions must be utilized to safeguard against data loss and breaches. This includes employing robust access controls and regularly auditing storage systems to ensure compliance with security policies.

  • Reliable Offsite Backups: Maintaining reliable offsite backups is a critical component of a comprehensive cyber security strategy. Regular backups of essential data ensure that, in the event of cyber attacks such as ransomware, a system failure, or a disaster, data can be recovered with minimal loss. Offsite backups, stored in a physically separate location or in the cloud, provide an additional layer of protection against data loss. Regular testing of backup processes and recovery procedures is also essential to ensure data can be effectively restored when needed.

Cyber Security Insurance

Having robust cyber security practices in place is paramount. Insurers often evaluate an organization's security measures before offering coverage, and the extent of these measures can significantly influence premiums and coverage limits. Good planning, thorough documentation, and maintaining detailed access logs are crucial components of a solid cyber security framework. These practices not only help in preventing breaches but also ensure that, in the event of an incident, the organization can quickly provide insurers with the necessary information to process claims. This preparedness can lead to faster resolution times and potentially lower costs associated with the breach.

Conclusion

Robust cyber security is indispensable for safeguarding data, maintaining customer trust, and ensuring the operational integrity of businesses. It demands a proactive approach, encompassing a broad spectrum of practices from technical defenses to user education and incident response planning. Cyber security is not solely an IT concern but a cornerstone of modern business strategy.

How Can We Help?
Our team thrives on new challenges. If you have a project in mind or simply want to ask a question, we’d love to hear from you.
Lumitiv is an experienced Calgary based IT Support and Cyber Security provider with over 14 years on the job. We help simplify and guide businesses through the technical landscape.
Copyright 2023 Lumitiv
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram