Cybersecurity

​Technological advancements have brought us numerous opportunities and expanded our horizons; with advanced technologies and the right approach, it is easier to grow and develop. Businesses, even small ones, have enormous potential even without significant starting capital. However, there is a darker side of innovations- cybercrimes. We have crimes in reality, too; the difference is that the scale of cybercrime risks and damages is significantly larger than traditional crimes. Instead of goods, people steal information and data on an unbelievable scale. This problem is growing annually, with data breaches increasing by 72% since 2022.

October is a Worldwide Cybersecurity Month! We want to remind you about the problem.

Many people think that cyberattacks happen mostly within healthcare or financial organizations, but what if we tell you that the sector most affected by cyberattacks is manufacturing? Yes, you read it right. According to Statista, 25% of all cyberattacks target manufacturing businesses. We constantly read news articles and see how enterprises suffer from cyberattacks. One of the most significant cyberattacks happened in 2023 to Clorox, which cost companies 365 million dollars.
​
"But I am a small business owner. That would never happen to me!" somebody might say. Unfortunately, the statistics are not very positive, which might make you read the post to the end. According to statistics, 46% of all cyberattacks hit small businesses, almost half of all companies.​

But everything is not that bad. Understanding the problem is the first step to solving it! Let’s discuss the most common cyberattack types and find solutions to prevent them.

We discussed some attack types in our recent social media posts. For more information, follow Kelly Industrial Supply on Facebook.

Ransomware is the manufacturing industry's most common and financially damaging cyberattack. Hackers use malicious software to encrypt or block access to data, forcing companies to pay a ransom to regain control. Corporations lose a lot of money, reputation, and time, as while they are trying to solve the problem, their systems and operations come to a halt.

Social engineering. Phishing attacks often use psychological tricks to deceive individuals into revealing sensitive information or clicking on malicious links. Attackers may pose as company representatives to steal personal data.

DDoS attacks overwhelm services with excessive data, causing them to crash.

Supply chain attacks target third-party suppliers to gain access to a company's systems.
​
Intellectual Property Theft involves stealing a company's ideas, designs, or other creative work.

Understanding these common cyberattacks can help us take steps to prevent them. We'll explore solutions and strategies in more detail now.

Every cyberattack can have its own solutions and prevention plans; here, we will discuss universal rules to prevent the threat of becoming a victim of cybercrime.

1. Regular data backups are crucial for protecting your business. In unexpected situations, having reliable backups can be a lifesaver. However, it's important to remember that backups must also be secured. There is a good strategy for effective data back-ups called 3-2-1. First, you create three copies of your data, store them on two different media, and keep one off-site copy in a separate location. 
2. The usage of antivirus software. Everyone is familiar with antivirus software, but it's worth reiterating its importance. Antivirus software prevents your business from a common cyberattack threat: malware. It scans your systems for malicious software (viruses, worms, etc.) and helps protect your data from infection. While it might seem obvious, many companies underestimate the importance of antivirus software to save money. However, neglecting to implement proper antivirus protection can lead to severe consequences, such as financial losses, intellectual property theft, and damaged reputation.
3. Software updates. Building on the previous point, cybercrime is constantly evolving. Unfortunately, outdated software can't effectively protect against new viruses and threats. Regularly updating your software (including your antivirus software) is essential for maintaining a strong cybersecurity posture.
4. Education and training. Educate your customers about the potential for phishing scams and social engineering attacks. Make it clear that legitimate companies wouldn't send emails or make calls in your name. Develop clear communication protocols to help customers identify legitimate communication from your business. Additionally, train your employees in cybersecurity best practices. This includes using strong passwords, enabling multi-factor authentication (MFA), and being cautious of suspicious emails and attachments.
5. Firewalls. A firewall is basically the barrier between the computer and any external network. Non-authorized connections won’t be able to access the network or your computer. While firewalls are very useful and helpful sources that might protect from many issues, they should not be used as the only source of protection. The best additions to these are anti-virus and regular backups. And never forget about the proper configuration.
6. Finally, train yourself and include regular checks of your network and software. Just like with viruses and diseases, prevention is critical in cybersecurity. Regularly check your systems for vulnerabilities and install updates promptly.

Let us know if you want an additional post on what to do if a cyberattack happens. Thank you for reading. Follow for more!