Do You Need Endpoint Security For Your Business?

endpoint security business data protection

Attackers Lower Their Aim 

Hackers are no longer targeting just the big, newsworthy companies with cyberattacks. Small companies are increasingly becoming a target too. Small businesses are easier to focus on because malware is now automated and SMEs tend to have low or non-existent cybersecurity. Small businesses now comprise 43 percent of online attacks

According to the 2019 Hiscox Cyber Readiness Report the average cost of cyberattacks: 

● To all businesses jumped from $34,000 in 2018 to just under $200,000 in 2019. 
● To large firms, had an 18-fold rise to $395,000. 
● To small firms rose to $9,000, up from $3,000 in 2018. 

The same report found that small firms (less than 50 employees) reporting one or more cyber attacks was up from 33 percent to 47 percent while for medium-sized firms (with between 50 and 249 employees), the proportion had leaped from 36 percent to 63 percent. 

While Simultaneously Raising Their Aim 

Cyber attackers have generally used the same tactics to hack IT systems throughout the years, phishing scams, ransomware, and so on. IT users have become more adept at identifying these attacks and preventing them. Unfortunately, attackers have evolved and have started to use more sophisticated tactics, for example: 

● Phishing scams could easily be identified by their use of language or procedure that was a bit off-key. Hackers are now using AI to quickly craft more convincing messages that could more easily get users to compromise their security. 

● Cryptojacking is a new form of cyberattack that has risen with the cryptocurrency trend. Hackers hijack the victim's computer processing power to mine cryptocurrency, so the hackers make money by piggybacking off the victim's computer. Cryptojacking slows down the victim's computer and can cause productivity losses to businesses. 

● Web skimming threats that use a browser to skim data as it is entered into web forms, particularly on reservation sites and e-commerce sites. 

Infrastructure cyber attacks are a new vulnerability, as everything is now connected to the internet. Railways, electricity grids, water sources, to mention a few, are all now vulnerable to cyberattacks that could result in real-world consequences to citywide or nationwide day to day life. 

● State-sponsored attacks are on the rise; this is billed as the next war frontier between states. These government-sanctioned attacks may not only be against other nations or their infrastructure but also private companies. 

IoT is going to be a new front line for cyberattacks. The sheer number of new devices that connect to the internet makes them an easy target for hackers. Both personal and business devices can be hacked for control, overloading systems, ransom, disruption, or destruction. 

● Credential stuffing is becoming a more common practice among hackers. Since most users have the same username and password for multiple sites, hackers can steal the credentials for one site and try to use them on multiple sites. 

● Third-party business partners like vendors or contractors present a new risk for organizations. If their IT systems are compromised, then it can be used to infiltrate and infect your own systems. 

● Hackers can also highjack legitimate software updates and input their malware into the patch. These hijackings create a backdoor that they can use later 

● Social engineering uses human psychology to trick an employee and gain access or password through them. It is a more direct and less resource-intensive form of hacking, so it becomes simpler than attacking a secure IT system. 

How To Prevent Endpoint Attacks 

Endpoint security is defined as the protection of end-user devices (desktops, laptops, cell phones, tablets, etc.) on an enterprise network. The definition also includes servers in a data center. Endpoint security software is what you need to protect your endpoints. It is available in both consumer and enterprise versions. 

Endpoint security does more than protect servers and desktops that are onsite. It extends protection to mobile devices that are not within the location. This protection is vital in a world that is embracing remote work. 

Endpoint security also provides encryption for data and emails, along with data classification. Endpoint security restricts access to the organization's network, so unauthorized devices cannot gain entry. It supports privileged user controls along with application whitelisting or control. It also monitors and prevents risky or malicious activities. 

Endpoint Security Is A Need 

Considering the level of sophistication hackers are putting into their attacks, all connected devices must be secure. All of these devices connect to the internet using a network that can be used to infiltrate and infect your IT system.

Bootstrap Business Blog Newest Posts From Mike Schiemer, Partners, & Blog Outreach Services