Tag Archives: Cybersecurity risks

How Hackers Use Social Engineering Tactics in Phishing Scams

social engineering tactics

Social engineering is quite a buzzword these days in the world of cybersecurity. But what is it, and why are businesses so afraid of it? It is a form of hacking that uses deception and manipulation to get victims to divulge information. Companies have reason to be fearful because social engineering tactics have led to a lot of destruction and millions of dollars in losses for businesses worldwide.

Phishing is one of the most rampant types of attacks these days. It has been highly successful because it uses tried-and-tested social engineering techniques to hoodwink potential victims.

What are these Social Engineering Tactics, and how do hackers use them?

  • Riding on human emotion.

    When people get scared, nervous, pressured, or curious, they are more likely to make impulsive decisions or actions. Hackers bank on this natural reflex to get victims to reveal personal information before they can think about it. By the time they have calmed down and realized the danger, it will already be too late.

  • Establishing credibility.

    People are quick to trust entities that have an established reputation. This includes institutions like banks or vendors, as well as personal contacts. By imitating these entities, hackers can create a credible image as one of the social engineering tactics that potential victims will almost certainly trust.

  • Personalizing content.

    There is plenty of information in the public domain hackers can use to spin a web of deceit to capture their victims. It goes further than simply calling a target by name. They might refer to a concert you have recently attended or a restaurant you love. By creating familiarity, they cause a potential victim to let their guard down and be more vulnerable to an attack.

  • Using lookalike websites.

    Many hackers send out links that lead to fake login pages identical to real ones as one of their social engineering tactics. A typical tactic is telling you to change your password because it is about to expire. The link they send you to is a lookalike site where you can enter your data. It all looks legit, but if you look at the URL, you see it is a fake link.

  • Creating panic-inducing situations.

    When people get into a panic, they rarely think logically. They will act on the impulse to free themselves from the threatening situation as quickly as possible. If the hackers tell them their account will be closed if they don’t click on the link, you can expect them to click the link in a second.

  • Social engineering tactics – Intentionally misspelling words.

    The typo errors and poor grammar commonly associated with phishing emails are intentional. It is their way of dodging detection by spam filters. Since people are not as vigilant as malware detectors, hackers easily fooled many people despite these glaring errors.

  • Attacking during holidays and special events.

    There is a general air of excitement and engagement around these periods, and hackers capitalize on that to boost the success rate of their phishing attacks. Also, timing the attacks with these events gives an illusion of legitimacy, which makes the targets more likely to become victims. This is one of the common social engineering tactics that hackers use.

  • Spreading malware through attachments.

    Ordinarily, most systems can detect and block malware, but if these malicious files get installed into the system through phishing, your network defenses cannot do anything about it. Once installed, malicious attachments can do a range of damage, from destroying your files to stealing sensitive data.

  • Posing as top executives is a social engineering tactic.

    When your boss requests confidential data, you don’t ask questions and give them what they want with minimal delay. After all, that is what a good employee does, right? Exactly! Therefore, hackers have taken this new approach of pretending to be top executives to get easy access to company information.

  • Creating a pretext.

    This social engineering tactic takes a lot of work and patience because the hackers need to build trust. Gradually, they gain the confidence of the victim, who will eventually disclose information more freely.

Final Thoughts about Social Engineering Tactics

Now that you know how hackers use social engineering tactics for phishing, you have the knowledge to avoid an attack. However, despite all the awareness and safety precautions, it is still possible to become a victim. For this, we have created an infographic called “The Top 10 Steps to Take If You Think You Have Been Hacked.” If you think you have been hacked, this tool would be very handy. You can download it right here. 

If you need more information on social engineering and other cybersecurity issues, call us. We will provide everything you need to improve your protection against online threats!

Why Cybersecurity Insurance Matters

Cybersecurity Insurance

As businesses move forward into a digital environment, cybersecurity insurance becomes even more crucial as online threats grow more advanced. Before, hackers only targeted large, high-revenue corporations since they had the money and the valuable information. But statistics show that over 40% of recent cyberattacks target small businesses. But what’s even more alarming is that only 14% of these small businesses are prepared for such an attack.

Cybersecurity Insurance is a Wise and Necessary Investment

Organizations are already taking more stringent measures to protect their businesses against online threats. Despite these efforts, malware and ransomware can still make their way into your system, and data breaches can still happen. To protect your business from the many ramifications of these attacks, you must invest in a good cybersecurity insurance plan.

While cybersecurity insurance cannot prevent or undo cybercrime, there are many ways that it can help your business recover in case an online attack takes place.

Reduce Financial Setbacks

Dealing with the consequences of a cyberattack can be expensive. Depending on the severity of the attack, it can set your business back by millions of dollars! You will pay for legal services, IT support, damage control, and more. A comprehensive plan can cover all these expenses and much more.

Cover Downtime Losses

Getting your business back on its feet can take a long time, again depending on the gravity of the situation. During rebuilding or while operations are on hold, insurance can tide you over until your business is fully recovered.

Fill the Gap Liability Insurance

When purchasing a general liability insurance plan, many business owners assume that this covers cyberattacks, which is typically not the case. Standard policies might offer coverage to some extent, but it is rarely enough. A separate cybersecurity insurance policy will give you the widest possible coverage to protect your business.

Recovery Assistance

Many cybersecurity insurance plans today offer so much more than just financial help. Many providers offer a complete recovery package that includes legal services, PR damage control, and IT forensics. You can get all these services from separate providers, but why stress yourself when you can get them all in one place?

Competitive Rates for Robust Security

Insurance carriers usually offer very competitive rates to clients with a robust cybersecurity system in place. This is to encourage companies to prioritize cybersecurity and implement better strategies. If you wish to avail discounted rates, it would be a good idea to level up your protection as early as now.

Best Practices for Improving Cybersecurity Insurance

There are many ways to boost cybersecurity in the workplace, as many of us know by now. For starters, you must train your employees regularly, as lack of awareness still ranks at the top of how hackers break into systems. You must also secure your networks, constantly update your anti-malware tools, and implement multi-factor authentication.

Bring Your Own Device Policy

Another excellent way to improve your company’s cybersecurity is to implement a sound Bring Your Own Device or BYOD policy in the workplace. The policy should clearly define the responsibilities of the company and the employee when using their personally owned devices to access company data and other uses of the device within the workplace.

To guarantee that you include all the vital elements in your company’s BYOD policy, you can use our BYOD Policy template, which you can download by clicking right here. You can customize it any way you need to make it align with your organization’s operations and goals.

Final Thoughts on Cybersecurity Insurance

A business needs to do everything necessary to boost cybersecurity. But no matter how strong your defenses might be, one must never be complacent. Investing in a good cybersecurity insurance plan is one of the best things you can do to protect your business. Call us now so we can help you with any questions you may have about cybersecurity insurance.

What Is BDR and How Does It Impact Business?

what Is BDR

Businesses these days conduct most of their processes digitally. On one hand, this is great because it speeds up transactions, improves data accuracy, and so on, allowing for faster and more efficient IT business development. But the heavy reliance on digital data brings new risks of data loss or damage. All businesses should have a good backup and disaster recovery plan to lessen these risks. We will explain to you what is BDR and how it impacts businesses.

An Introduction to What is BDR

BDR stands for “backup and disaster recovery.” It is a set of solutions that make sure data is safe and can be recovered after a disaster. A BDR plan aims to protect a business and maintain the continuity of operations despite any mishaps.

We often consider BDR solutions a defense against cyberattacks, which are becoming more frequent in recent years. But they are also beneficial in other circumstances, like keeping a business safe after a natural disaster or in any situation where the company’s data is at risk.

What a Sound BDR Strategy Can Do for Your Business

The lack of a proper BDR solution can have a negative impact on your business. At the very least, it can cause disruptions to your operation as your staff scrambles to recover all your data. In worst-case scenarios, you might not only find yourself with a destroyed business, but you may also face lawsuits as a repercussion of the disaster.

But if you have a tried-and-true BDR solution protecting your data, more than likely, you won’t have to face these dreadful scenarios. In addition, there are multiple other benefits that you can enjoy, such as the following.

Protection against Data Loss and Damage

There are so many ways for digital data to get lost, stolen, or damaged. It can happen through a data breach, a cyberattack, a system failure, human error, or a natural disaster. But if your business has a trusty BDR plan, it will protect your data despite any of these unfortunate incidents.

Better Data Security

Data security is integral to IT business development. A good BDR system makes sure of this by keeping a copy of all your business data, like contracts, transactions, client profiles, and so on, in a safe and remote location. Through high-tech encryption tools and physical security measures, we should protect data backups both physically and digitally.

Customer Retention

If you are not prepared for a disaster, you could lose hours or even days of downtime as you try to get everything back in order. Your clients will not be very forgiving of such situations and will probably leave and take their business to your competitors. With a sound BDR plan, you can have a quick and complete recovery, and your customers can have peace of mind and will not have a reason to leave.

Evaluating Your BDR Strategy

If your IT provider has already set up a BDR solution for your business, that’s great. But do you know how dependable it is? If disaster strikes, are you sure your defenses will hold up and keep your system and data protected?

Discover the impact that a BDR plan has on your business. Learn how the BDR plan affects your employees and the growth of your enterprise. For ideas and tips on creating your BDR strategy, download our FREE infographic or watch the video HERE.

We can also assess your existing BDR plan and make the necessary adjustments to make it perfectly suitable for your business needs. Call us today for a consultation!

The Role of Technology in Businesses in 2023

Technology in Businesses in 2023

Technology has always played a key role in businesses across different industries in 2023. But recently, this role has grown even more because IT is used more and more in businesses around the world. To draw more customers and stay ahead of the competition, you should understand all the changes and use them to your advantage.

Technology Trends in Businesses to Look Out for in 2023

grow your business in 2023

Many trends in technology are useful in growing businesses in 2023, as discussed in our first blog this month, 8 Ways Technology Will Grow Your Business in 2023. You don’t need to use all of them – just take your pick depending on your industry and the nature of your business. There are some kinds of technology, however, that can add value to just about every industry, like the following:

Artificial Intelligence

Commonly used today for online shopping, digital assistants, and fraud prevention, AI can make your operations faster and more efficient while freeing up a lot of time and other resources for your business.

Cloud Computing

Cloud-based solutions virtually take away the boundaries to how you operate your business. It gives you access to software, infrastructure, and other resources you could only dream of before.

Automation

So many processes that used to be done manually are now automated through technology in businesses, especially in 2023. This transition speeds up operations, reduces the risk of human error, and makes for a much better customer experience.

Internet of Things

Now that software, sensors, and other things can connect almost everything, we are living in the age of connectivity. The IoT provides many ways for businesses to save time and increase efficiency, but it also opens up new security risks, so we must exercise due caution.

Vendor Management Technology in Businesses in 2023

Working with vendors is a more complicated task than many assume. To reduce risks, you need to keep costs low and get the most out of your vendors. With the aid of a good VMS, all this is possible without breaking a sweat.

The Importance of Cybersecurity Technology in Businesses in 2023

importance of cybersecurity in 2023
Technology Trends for Cybersecurity
As technology in businesses advances in 2023, so does the risk of online threats. For this reason, it is more important than ever to protect your business with a dependable cybersecurity solution.

As we talked about in our blog post on week 2, Top 8 Technology Trends and How They Impact Cybersecurity, each current technology trend has its own impact on cybersecurity. Some are good, and some are not so good. You can read more about it by checking out our blog here.

Perks of Working with a Managed Service Provider

Changing your IT provider

Staying updated on all the changes in technology in businesses can be tiresome in 2023. Typically, business owners would not have the time to do it themselves. But there is a way to enjoy the benefits of technology for your business—by partnering with a managed services provider.

If you currently already have an IT provider but are not always happy about the service you are getting, it might be time to make a change. Changing your MSP is a bold move that must not be taken lightly. In our week 3 blog entitled When Is It Time to Change Your IT Provider? we list some signs that tell you to find a new provider.

A reliable MSP can give you all that IT offers and make it work for your business, just like we do at Our Company. We can provide everything from simple IT consultation to business automation, vendor management, cybersecurity, and anything technology-related that can help grow your business.

One of our areas of expertise is vendor management. This is quite an underrated aspect of business that needs more attention as it deals with crucial business expenses that impact growth. Click here for more about our vendor management services and how they can benefit your business.