How to Identify, Deter, Protect Against, Detect, and Respond to Cybersecurity Risks

Cyber security risks could be weaknesses and threats that could compromise your company’s data. They result from both malicious cyberattacks as well as accidental mistakes or accidental exposure of data. The most commonly encountered threats are malware, ransomware and phishing.

Cyberattacks that are malicious can be devastating for businesses as well as individuals. These attacks may expose sensitive financial and personal information, disrupt vital services and cause significant financial losses. It is crucial that businesses, large and small, as well as the Federal Government improve their ability to identify, deter, safeguard against, detect and respond to cyberattacks.

In a malware attack, hackers infiltrate a computer system to do damage by deleting, altering, or accessing information. These attacks can take on a variety of forms, from viruses that attack the system to trojans (like the Trojan Horse of mythology) that give cybercriminals access to backdoors.

Cyberattacks may also involve denial-of service attacks, which overload the system to disrupt services. Other less well-known methods are IP spoofing, in which attackers alter the destination addresses of network communications to gain access. There are also ransomware-related attacks, that block businesses from their systems until a ransom is paid.

Internal cyber risks could also be triggered by angry or malicious employees with some resentment or motivation to take action against the business. In addition, the more you rely on third-party suppliers the more likely your company is prone to their mistakes or attacks. This is why it’s vital to develop a holistic and automated security risk management.

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