Cybersecurity should be a priority for any business, large or small. Data breaches can happen to anyone and have serious consequences. A 2021 study by IBM found that the average cost of a data breach is $4.1 million.

Hackers are evolving their strategies and using more sophisticated methods to gain access to company data. It’s important to be aware of the risks so you can take steps to protect your business. Here are the six biggest risks to your company cybersecurity:

1. Weak and Stolen Passwords

One of the most common ways hackers gain access to business systems is by stealing or guessing passwords. This can happen if employees use weak passwords or if they reuse the same password for multiple accounts. Hackers can also buy lists of stolen passwords on the dark web.

You can protect your business by requiring employees to use strong passwords and by using two-factor authentication (2FA). 2FA adds an extra layer of security by requiring two forms of identification, such as a password and a fingerprint, to log in.

2. Phishing Attacks

Phishing is a type of online attack where hackers pose as a trustworthy entity to try to trick victims into sharing sensitive information, such as passwords or credit card numbers. They often do this by sending emails or text messages that appear to be from a legitimate source, such as a company or government agency.

Hackers can also use phishing attacks to install malware on a victim’s device. This can give them access to the victim’s files and allow them to spy on their activities.

You can protect your business from phishing attacks by educating your employees about how to spot them and by using email filtering software.

3. Malware

Malware is a type of malicious software that can infect computers and devices. It can give hackers access to your system and allow them to steal data or damage your files. Malware can be installed on a device through a phishing attack or by visiting a compromised website.

You can protect your business from malware by using security software, such as antivirus and antimalware programs. You should also ensure that your employees only visit trusted websites and that they don’t click on any links or attachments in emails unless they’re sure they’re from a trusted source.

4. Distributed Denial-of-Service Attacks

A distributed denial-of-service (DDoS) attack is a type of attack where hackers use multiple computers to flood a system with requests. This can cause the system to crash and can prevent legitimate users from accessing it.

You can protect your business from DDoS attacks by using a firewall and by having multiple servers. This can help to filter out illegitimate traffic and ensure that your systems are still accessible if one server is down. If you need help, information technology professionals can also provide DDoS mitigation services.

5. SQL Injection Attacks

SQL injection attacks are a type of attack where hackers insert malicious code into an SQL database in order to steal data or damage files. This can happen if a website has vulnerabilities that allow hackers to inject code into the database.

You can protect your business from SQL injection attacks by using parameterized queries. This helps to prevent hackers from injecting malicious code into your database. You should also regularly test your website for vulnerabilities.

6. Insider Threats

An insider threat is when an employee, contractor, or vendor uses their access to company systems to commit fraud or theft. This can happen if an employee is disgruntled or if they’re lured by a hacker.

You can protect your business from insider threats by monitoring employee activity and by using security controls, such as access control lists (ACLs). ACLs allow you to restrict what employees can see and do on your company’s systems.

Cybersecurity is an important issue for all businesses. There are many different types of risks that businesses face, and it is important to be aware of them. By taking steps to improve cybersecurity, businesses can protect themselves from data breaches, reputation damage, and legal liability.