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Looking Inside the Mind of an Enterprise Hacker

by Olufisayo
Mind of an Enterprise Hacker

As the role of big data in businesses increases, so does the risk of your data being hacked. Business owners in all industries need to understand that user and company data are a highly valued currency.

While companies can use accumulated data to create a better experience for their users, others can exploit the massive amounts of data gathered at a single location for their own gain at your business’s cost.

Attacks can corrupt years’ worth of data and ruin businesses, while financially wounding others. To properly protect yourself against all sorts of attacks, you need to thoroughly understand how hackers think and operate.

What Hackers Want

A small minority of hackers breach databases as a joke or to showcase their skills. Most of those are harmless and can open your eyes to potential holes in your security system. Your main concern should be hackers with malicious intent.

From corrupting your data to releasing confidential information or demanding ransom, hackers often look for businesses with weak security systems or inexperienced staff with data that fits their goals.

       

Motivations typically fall under one of two main categories:

  • Ethical Motivation– Releasing private information for an ideological or political cause they follow.
  • Financial Motivation– Holding data for ransom or selling user information in the black market.

Why Hackers Target Businesses of all Sizes

The target of hackers is readily unattainable data, which both small, medium, and large businesses have. While larger businesses are more likely to be targeted for financial extortion, that doesn’t exclude smaller ones as they usually aren’t as prepared.

The Continued Rise of Ransomware Attacks

The number of organizations that reported being a victim of ransomware rose from 55 percent in 2018 to 62 percent in 2020, and it’s only expected to increase in the upcoming years. Businesses in different industries store different types of data, making them susceptible to hackers with different intentions.

While businesses usually hold financial and personal or behavioral data on their users, hospitals and government-run facilities hold social security numbers and legal documents. While the first set gets sold to marketing businesses with unethical practices, the latter typically gets used in identity theft and fraud.

As the technology that enables hackers to bypass security systems is rapidly evolving, experts predict that global costs of ransomware attacks will reach $20 billion by 2021.

       

Understanding Cybersecurity Threats in 2020

Businesses are more susceptible to attacks due to their large numbers and different security measures. Some of the most common cybersecurity attacks are:

  • Phishing Attacks– A common type of social engineering attack, a phishing attack occurs when hackers trick employees into clicking on a link or opening an attachment sent via text or email.
  • Ransomware Attacks– Ransomware, a type of malware, is a simple software that encrypts a device’s data in exchange for paying a ransom. Ransomware usually deletes the data or leaks it.
  • SQL Attacks– SQL injection attacks usually target large databases. The hacker injects an SQL code into the database that works on corrupting or leaking the data.

It’s important to be on high alert due to the current circumstances. Many hackers are taking advantage of COVID-19 to target businesses that shifted their work online, as they have less experience in securing all digital access points.

While many sympathize with businesses falling victim to attacks, a single attack could ruin a business’s reputation in a matter of days. This is especially true for the social media industry, where people spend a lot of time and share a lot of private information.

Top-of-the-line Cybersecurity Software

Similar to how data security is evolving, so are the ways to bypass it. To keep your business safe, you need to always be a step ahead of any hacker by investing in the most advanced security software available on the market. The best current technology can offer is cloud-based endpoint detection and response (EDR) software.

Endpoint security software by VMware CB secures all access points to your network. And, as the name suggests, it responds to threats in addition to detecting them as they occur. It does that by analyzing big data from previous attacks and recognizing suspicious behavior.

       

Today’s Investment is Tomorrow’s Guarantee

Investing in futuristic security software might feel like overkill, especially for smaller businesses, but it’s far from that. Data and information are more valuable than they’ve ever been, and hackers are working around the clock to come up with new ways to obtain them. It’s your duty as a business owner or manager to make sure that part of your business remains secure at all costs.

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