Building defence against network security frauds

Is your organisation risk-proof?

A study conducted by Cybersecurity Ventures brings into perspective that by the end of 2023, the cost of cybercrime would reach $8 trillion. This figure is all set to scale to $10.5 trillion by 2025. In fact, companies observed a rise in 61% of phishing attacks in the year 2022, as per the report from SlashNext. This is followed by mobile malware, ransomware, DDoS, spyware and adware that have been penetrating the system network to incapacitate the measures taken by IT security and pushing them into compromising facets.

Imagine the impact these staggering statistics are going to have on existing companies, yet businesses across the globe fail to understand the vitality of introducing network security in their security fold.

To reason with this, who can forget the ICRC 2022 cybersecurity and data breach that can be considered the biggest data breach in the history of humanitarian organisations? While at first glance it appeared to be a data compromise from one of the organisation’s subcontractors, the investigation painted a different picture. It was ultimately revealed that the breach was targeted at ICRC servers specifically which resulted in compromising over 515,000 vulnerable people’s data. These people were already separated from their families due to migration, and other catastrophic events. The malicious attempt conducted by fraudulent people who camouflaged as admins jeopardised privileged accounts and exposed the susceptibility of networks.

While the ICRS is a large-scale organisation with access to resources, mid-size and small-scale organisations are the same if not less or more vulnerable to both insider and external attacks. No matter how aware you are about the security practices, if your business is not adopting network security company measures, it is most likely to fall into a threat framework, compromising its finances, and employees as well as denting the reputation of the business for a downfall.

So, how do you protect your brand and avert such attacks on your network from impairing your business? Security frameworks designed by a network support company enter the business landscape to create a shield around every business that hopes to scale its operations.

Network Security: What is it and why your business needs it now more than ever

Network security threats can come from both external and internal sources, such as hackers, cybercriminals, employees, and even business partners. With the increasing complexity and connectivity of networks, it has become essential for organisations to implement robust security measures, such as firewalls, intrusion detection and prevention systems, antivirus software, and security protocols, to protect against these threats. The consequences of a successful network security breach can be severe, including financial losses, legal penalties, reputation damage, and loss of trust from customers and stakeholders. Therefore, it is crucial for organisations to stay vigilant, stay up-to-date with the latest threats and trends, and take proactive measures to secure their networks and data.

Networks must have security embedded into their very design. A network security architecture provides a basis for an organisation’s cyber defences and helps to protect all of the company’s IT assets, finances, and employee security as well as guard its reputation.

Building a robust checkpoint security requires you to first understand the types of network security threats that exist to compromise your business security. These include, but are not limited to-

SQL Injection: It encompasses a code injection technique that carries the capacity to destroy your database. The intervention allows a hacker to absorb data by interfering with the queries that an application makes to the database. The technique incapacitates the underlying server or a back-end infrastructure involved, compromising the data of users.
Malware: Malware refers to any malicious software designed to harm a computer or network. This can include viruses, trojan horses, worms, and spyware. Malware can cause damage to network infrastructure, steal sensitive data, and disrupt normal operations.
Phishing: Phishing is a social engineering attack that involves the use of fake emails or websites to trick users into providing sensitive information. Phishing scams are often designed to look like legitimate requests from reputable organisations, making them difficult to detect.
Denial of Service (DoS) Attacks: A DoS attack is an attempt to overwhelm a network or website with a flood of traffic or requests, effectively taking it offline. DoS attacks can be launched from a single computer or coordinated across a network of computers and can cause significant disruption to businesses and organisations.
Password Attacks: Password attacks are attempts to gain unauthorised access to a network or computer system by guessing or cracking passwords. These attacks can be launched manually or through automated software, and particularly affects more when the users do not use strong passwords.
Man-in-the-Middle (MitM) Attacks: A MitM attack involves intercepting communication between two parties to steal or manipulate data. This can be done through a variety of methods, including eavesdropping on unencrypted network traffic, spoofing legitimate websites, or intercepting and altering emails.
Ransomware: Ransomware is a type of malware that encrypts a victim's files, effectively locking them out of their own system. Attackers then demand payment in exchange for a decryption key, often with a threat to delete or leak the data if payment is not made.
Insider Threats: Insider threats are one of the worst network security threats where the employees themselves pose a threat to their organisation's security landscape, either intentionally or sometimes even unintentionally. This can include employees, contractors, or partners who have access to sensitive data and systems. Insider threats can be particularly difficult to detect and prevent, as the individual may already have authorised access to the system.

Whether your business accepts it or not, the entire world is facing a high momentum of sophisticated threats crippling even the most cutting-edge networks. Moreover, the evolution of work-from-home practices and a major shift to cloud computing has mushroomed the threat landscape. No matter the type of threat, every network security risk has the potential to damage organisational assets on a different level. Hence, each network security threat requires a different approach for prevention and mitigation laid out by a network security company.

Leveraging security posture from a robust network security company

As business giants continue to fall prey to the sophisticated threat landscape that threatens their very existence, invest in a network support company to foolproof your security posture. It is important to implement strong security measures, such as firewalls, antivirus software, and intrusion detection systems, to protect against these threats. Moreover, by staying vigilant and taking a proactive approach to security, businesses can help to mitigate or at least avert the risks of these threats and protect their business operations from crumbling down the security threat route.

To assist the security posture of your business, Kodehash, a network security company can cement your brand against even the most sophisticated of attacks. With our real-time threat intelligence services, our network security company offers the right solution to shield your digital assets. From protecting your data to safeguarding your customer’s data, enhancing network performance and protecting against cyber attacks, Kodehash is your catalyst in your network security journey.