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What Are The Top Cybersecurity Attack Trends For 2023?

January 31, 2023

Thomas Fox is president of Tech Experts, southeast Michigan’s leading small business computer support company.

As the world becomes increasingly reliant on technology, cyber attacks have become a major concern for individuals and organizations alike. In 2023, it is likely that we will see a continuation of current trends, as well as the emergence of new threats. Here are some things to look out for:

Ransomware attacks

Ransomware attacks involve hackers encrypting a victim’s data and demanding a ransom in exchange for the decryption key. These attacks can be extremely disruptive, as they can prevent businesses from accessing important data and systems.

It is likely that we will see an increase in the number of ransomware attacks, as well as more sophisticated and targeted attacks.

What’s Changing In The Cybersecurity Insurance Market?

January 31, 2023

Cybersecurity insurance is still a pretty new concept for many SMBs. It was initially introduced in the 1990s to provide coverage for large enterprises. It covered things like data processing errors and online media.

Since that time, the policies for this type of liability coverage have changed. Today’s cyber insurance policies cover the typical costs of a data breach including remediating a malware infection or compromised account. Cybersecurity insurance policies will cover the costs for things like:

Recovering compromised data
Repairing computer systems
Notifying customers about a data breach
Providing personal identity monitoring
IT forensics to investigate the breach
Legal expenses
Ransomware payments

The increase in online danger and rising costs of a breach have led to changes in this type of insurance.

No one is safe. Even small businesses find they are targets. They often have more to lose than larger enterprises as well.

The cybersecurity insurance industry is ever evolving. Businesses need to keep up with these trends to ensure they can stay protected.

Demand is going up

The average cost of a data breach is currently $4.35 million (global average). In the U.S., it’s more than double that, at $9.44 million. As these costs continue to balloon, so does the demand for cybersecurity insurance.

Companies of all types are realizing that cyber insurance is critical. It’s as important as their business liability insurance.

With demand increasing, look for more availability of cybersecurity insurance.

Premiums are increasing

With the increase in cyberattacks has come an increase in insurance payouts. Insurance companies are increasing premiums to keep up. In 2021, cyber insurance premiums rose by a staggering 74%. Insurance carriers aren’t willing to lose money on cybersecurity policies.

Certain coverages are being dropped

Certain types of coverage are getting more difficult to find. For example, some insurance carriers are dropping coverage for “nationstate” attacks. These are attacks that come from a government.

Many governments have ties to known hacking groups. So, a ransomware attack that hits consumers and businesses can very well be in this category.

In 2021, 21% of nation-state attacks targeted consumers, and 79% targeted enterprises. So, if you see that an insurance policy excludes these types of attacks, be very wary.

Another type of attack payout that is being dropped from some policies is ransomware.

Insurance carriers are tired of unsecured clients relying on them to pay the ransom. So many are excluding ransomware payouts from policies. This puts a bigger burden on organizations.

It’s harder to qualify

Just because you want cybersecurity insurance doesn’t mean you’ll qualify for it. Qualifications are becoming stiffer. Insurance carriers aren’t willing to take chances. Especially on companies with poor cyber hygiene.

Some of the factors that insurance carriers look at include:

Network security
Use of things like multi-factor authentication
BYOD and device security policies
Advanced threat protection
Automated security processes
Backup and recovery strategy
Administrative access to systems
Anti-phishing tactics
Employee security training

Business Email Compromise (BEC) And Phishing Are Dangerous For Small Businesses

January 31, 2023

Business email compromise (BEC) and phishing are two of the most common and damaging cyber threats facing businesses today. BEC involves the fraudulent use of email to impersonate a legitimate business or individual in order to gain access to sensitive information or financial resources.

Phishing, on the other hand, is a type of cybercrime that involves the use of fraudulent emails or websites to trick individuals into revealing sensitive information, such as login credentials or financial information.

BEC attacks often target employees with access to sensitive financial information or those who have the authority to make wire transfers or other financial transactions.

The attackers use sophisticated social engineering tactics to trick the employee into revealing login credentials or other sensitive information, or to convince them to make a financial transaction on behalf of the company. In some cases, the attackers may even impersonate a high-level executive or vendor in order to gain the trust and cooperation of the employee.

One of the most common tactics used in BEC attacks is the “man-in-the-middle” attack, where the attacker intercepts legitimate emails and alters them to redirect payments or other financial transactions to their own account.

Other tactics include the use of fake invoices, purchase orders, or other financial documents to trick employees into making payments to the attacker.

Phishing attacks, on the other hand, generally aim to trick individuals into revealing sensitive information or clicking on malicious links. These attacks often take the form of fake emails purporting to be from legitimate organizations, such as banks or government agencies, and may contain links to fake login pages or download malicious software onto the victim’s computer.

To protect against BEC and phishing attacks, it’s important for businesses to implement strong security measures and to educate their employees on how to spot and avoid these threats. Some best practices for protecting against BEC and phishing attacks include:

Implementing strong email security measures, such as spam filters and email authentication protocols, to help identify and block fraudulent emails.
Training employees on how to spot and avoid phishing and BEC attacks, including teaching them to be wary of unsolicited emails and to verify the authenticity of any emails requesting sensitive information or financial transactions.
Establishing strong passwords and using two-factor authentication to protect login credentials and other sensitive information.
Setting up monitoring systems to detect and alert on unusual or suspicious activity, such as unexpected wire transfers or login attempts.
Regularly updating software and security protocols to ensure that the latest security measures are in place.

In addition to these measures, it’s important for businesses to have a plan in place for responding to a BEC or phishing attack. This should include:

Establishing a clear chain of command for reporting and responding to suspicious activity.
Designating a team to investigate and respond to potential attacks.
Having a process in place for assessing and mitigating the damage caused by an attack.
Reviewing and updating security protocols on an ongoing basis to ensure that they are effective in protecting against these threats.

Overall, BEC and phishing attacks are a serious threat to businesses of all sizes. By implementing strong security measures and educating employees on how to identify and avoid these threats, businesses can protect themselves and their customers from these damaging cyber attacks.

Why Should Your Business Consider VoIP?

January 31, 2023

Voice over Internet Protocol (VoIP) phone service is a popular choice for small businesses because it offers a range of benefits that can help improve communication and increase productivity.

In this article, we’ll take a look at some of the key advantages of using VoIP phone service for small businesses.

One of the biggest benefits of VoIP phone service is cost savings. Traditional phone systems often require expensive hardware and installation fees, as well as monthly charges for long distance calls.

VoIP phone service, on the other hand, uses the internet to make and receive calls, which means there are no additional charges for long distance calls. This can be a major cost saver for small businesses with employees or clients in different locations.

In addition to cost savings, VoIP phone service also offers flexibility and convenience. With VoIP, you can make and receive calls from any location with an internet connection, which means you can stay connected even when you’re on the go.

This can be especially useful for small businesses with remote workers or those that need to stay connected while traveling.

VoIP phone service also offers a range of advanced features that can help improve communication and increase productivity. For example, many VoIP providers offer call forwarding, which allows you to automatically redirect incoming calls to another phone or voicemail. This can be particularly useful for small businesses that may not have dedicated receptionists or that need to manage calls outside of normal business hours.

Another useful feature of VoIP phone service is the ability to use virtual numbers. This allows small businesses to have a local presence in different areas, even if they don’t have a physical location there. This can be particularly useful for businesses that want to target customers in different regions or that want to make it easier for customers to reach them.

VoIP phone service also offers the ability to integrate with other business tools and applications. For example, many VoIP providers offer integration with customer relationship management (CRM) systems, which can help small businesses keep track of customer interactions and improve their overall customer experience. Other integrations, such as the ability to send text messages or make conference calls, can also help small businesses stay connected and collaborate more effectively.

Finally, VoIP phone service is generally easy to set up and use. Most providers offer simple plug-and-play devices that can be easily connected to an internet router, and many offer online portals that allow users to easily manage their accounts and make changes to their settings. This can be particularly useful for small businesses that may not have IT staff or that want to minimize the time and effort required to manage their phone systems.

In conclusion, VoIP phone service offers a range of benefits for small businesses, including cost savings, flexibility, advanced features, and ease of use. By switching to VoIP, small businesses can improve their communication and increase productivity, while also enjoying the convenience and cost savings that come with using internet-based technology.

2022: The Year Of Malware, Hacks And Phishing

December 30, 2022

Much of our time this year has been spent working with our clients, making sure they’re ready to fend off newly emerging cyber threats or malware strains.

So to look back at the year, we thought we’d round up what many experts agree has been the nastiest malware of 2022.

At the top of the list is Emotet. Chances are you haven’t heard of it by that name, but it’s a trojan that’s spread by spam email. It usually looks like a genuine email with familiar branding, but it tries to persuade the recipient to click a malicious link (using language like ‘your invoice’ or ‘payment details.’

It may also look like it’s from a parcel company. This malware goes through your contact list and sends itself to family, friends, colleagues, and clients. Then it looks less like spam, because it’s come from your email account.

In second position is LockBit. This is ransomware that’s designed to block access to your files and systems when cyber criminals encrypt them.

They ask you to pay a ransom for the decryption key (which they often still don’t hand over, even when you’ve paid). If you don’t have a solid backup strategy, it is highly likely you’ll experience data loss.

This is a targeted attack that spreads itself once it’s infiltrated one device on a network. In fact, it can ‘live’ for weeks inside a network before the attack is launched.

In third place is Conti, another form of ransomware, and in fourth position is Qbot, a trojan designed to steal banking information and passwords.

It may all sound scary, but there’s plenty you can do to give your business greater protection from these threats:

Keep your entire network and all devices updated
Don’t download suspicious attachments or click links unless you’re certain they’re genuine
Practice strong password hygiene, including multi-factor authentication, password managers, biometrics, and passkeys where available
Give your people access to only the systems and files they need. Remove ex-employees from your network immediately
Create and regularly check back-ups
Educate your people regularly

We can help with all of this – just get in touch!

Overcoming Barriers for “Bring Your Own Device (BYOD)” Success In Your Business

December 30, 2022

Mobile devices make up about 60% of the endpoints in a company network. They also handle about 80% of the workload.

But they’re often neglected when it comes to strong cybersecurity measures. This is especially true with employee-owned mobile devices.

Purchasing phones and wireless plans for staff is often out of reach financially. It can also be a pain for employees to carry around two different devices.

This has made BYOD the preferred way to go by about 83% of companies. Here are some tips to overcome the security and challenges of BYOD.

Define your BYOD policy

If there are no defined rules for BYOD then you can’t expect the process to be secure.

Employees may leave business data unprotected. Or they may connect to public Wi-Fi and then enter their business email password, exposing it.

If you allow employees to access business data from personal devices, you need a policy. This policy protects the company from unnecessary risk.

Keep your policy “evergreen”

As soon as a policy gets outdated, it becomes less relevant to employees. Thus, they may tend to ignore it. Make sure to update your BYOD policy regularly.

Use VoIP apps for business calls

Customers having employees’ personal numbers is a problem for everyone. Employees may leave the company and no longer answer those calls. The customer may not realize why.

You can avoid the issue by using a business VoIP phone system. These services have mobile apps that employees can use. VoIP mobile apps allow employees to make and receive calls through a business number.

Create restrictions on saved company data

No matter what the type of device, you should maintain control of business data. It’s a good idea to restrict the types of data that staff can store on personal devices. You should also ensure that it’s backed up from those devices.

Require device updates

When employee devices are not updated or patched, they invite a data breach. Any endpoint connected to your network can enable a breach. This includes those owned by employees.

An endpoint device manager can push through automated updates. It also allows you to protect business data without intruding on employee privacy.

Include BYOD in your offboarding process

If an employee leaves your company, you need to clean their digital trail. Is the employee still receiving work email on their phone? Do they have access to company data? Are any saved company passwords on their device?

Make sure you check all this during offboarding.

SETUP CHECKLIST FOR MICROSOFT TEAMS

December 30, 2022

Microsoft Teams is a lot of things.

It’s a video conferencing tool, a team messaging channel, and a tool for in-app co-authoring, just to name a few.

During the pandemic, the popularity of Teams skyrocketed.

You can think of Teams as a virtual office in the cloud. It’s a centralized hub where teams can communicate, collaborate, and manage tasks. There is also an external communication component to Teams.

You can use the app to video conference with anyone. You can also invite guests to a chat channel.

Here are some of the features of MS Teams:

Set Up Your Teams/ Departments
Add Team Members
Set Up Team Channels
Set Up Team Tabs
Schedule MS Teams
Training

Insider Threats Are Getting More Dangerous

December 30, 2022

One of the most difficult types of attacks to detect are those performed by insiders.

An “insider” would be anyone that has legitimate access to your company network and data via a login or authorized connection.

Because insiders have authorized system access, they can bypass certain security defenses, including those designed to keep intruders out.

Since a logged-in user isn’t seen as an intruder, those security protections aren’t triggered.

A recent report by Ponemon Institute found that over the last two years insider attacks have increased by 44% and the average cost of addressing insider threats has risen by 34%

Four types of insider threats

Malicious/Disgruntled Employee
Careless/Negligent Employee
3rd Party with Access to Your Systems
Hacker That Compromises a Password

Ways to mitigate insider threats

When hiring new employees make sure you do a thorough background check.

Malicious insiders will typically have red flags in their work history.

You want to do the same with any vendors or contractors that will have access to your systems.

Endpoint device solutions

Mobile devices now make up about 60% of the endpoints in a company. But many businesses aren’t using a solution to manage device access to resources.

Put an endpoint management solution in place to monitor device access. You can also use this to safelist devices and block unauthorized devices by default.

Multi-factor authentication & password security

One of the best ways to fight credential theft is through multi-factor authentication. Hackers have a hard time getting past the second factor.

They rarely have access to a person’s mobile device or FIDO security key.

Employee data security training

Training can help you mitigate the risk of a breach through carelessness.

Train employees on proper data handling and security policies governing sensitive information.

Network monitoring

Use AI-enabled threat monitoring. This allows you to detect strange behaviors as soon as they happen.

For example, someone downloading a large number of files or someone logging in from outside the country could be indicators your systems or security are compromised.

Advantages Of Conditional Access

December 30, 2022

It seems that nearly as long as passwords have been around, they’ve been a major source of security concern.

Eighty-one percent of security incidents happen due to stolen or weak passwords. Additionally, employees continue to neglect the basics of good cyber hygiene.

Access and identity management have become a priority for many organizations.

Once a cybercriminal gets a hold of an employee’s login, they can access the account and any data that it contains. Using conditional access policies can mitigate the risk of an account breach.

What Is Conditional Access? Conditional access is also known as contextual access. It is a method of controlling user access. You can think of it as several “if/then” statements, meaning “if” this thing is present, “then” do this.

Conditional access allows you to add many conditions to the process of user access to a system. It is typically used with MFA.

This is to improve access security without unnecessarily inconveniencing users. Some of the most common contextual factors used include the IP address that is associated with the user, the geographic location if the login, time of day, the type of device used and the role or group the user belongs to.

Implementing conditional access for identity management will improve security, automates the access management process, and allows the business to restrict certain activities.

Another advantage of conditional access is the ability to apply the principal of least privilege, making sure that users can only access appropriate resources.

Guide For Better Endpoint Protection

November 30, 2022

Endpoints are the collection of computers, mobile devices, servers, and smart gadgets that make up your company’s network and IT infrastructure. Each of those devices is a chance for a hacker to penetrate a company’s defenses. 64% of organizations have experienced one or more compromising endpoint attacks.

The following solutions are focused on the protection of endpoint devices.

Address Password Vulnerabilities

Passwords are one of the biggest vulnerabilities when it comes to endpoints.

Poor password security and breaches make credential theft one of the biggest dangers to cybersecurity.

Address password vulnerabilities in your endpoints by:

• Training employees on proper password creation and handling
• Look for passwordless solutions, like biometrics
• Install multi-factor authentication (MFA) on all accounts

Stop Malware Infection Before OS Boot

USB drives (also known as flash drives) are a popular giveaway item at trade shows. But an innocent-looking USB can actually cause a breach.

Hackers can use them to gain access to a computer by booting from a USB device containing malicious code.

There are certain precautions you can take to prevent this from happening. One of these is ensuring you’re using firmware protection that covers two areas: Trusted Platform Module (TPM) and Unified Extensible Firmware Interface (UEFI) Security.

TPM is resistant to physical tampering and tampering via malware. It looks at whether the boot process is occurring properly and also monitors for the presence of anomalous behavior.

Additionally, seek devices and security solutions that allow you to disable USB boots.

Update All Endpoint Security Solutions

You should regularly update your endpoint security solutions. It’s best to automate software updates if possible so they aren’t left to chance.

Firmware updates are often forgotten about. But they are just as important for ensuring your devices remain secure and protected.

Use Modern Device & User Authentication

How are you authenticating users to access your network, business apps, and data? If you are using only a username and password, then your company is at high risk of a breach.

Use two modern methods for authentication:
• Contextual authentication
• Zero Trust approach (Trust but Verify)

Apply Security Policies Throughout the Device Lifecycle

From the time a device is first purchased to the time it retires, you need to have security protocols in place.

Examples of device lifecycle security include when a device is first issued to a user. This is when you should remove unnecessary privileges.

When a device moves from one user to another, it needs to be properly cleaned of old data and reconfigured for the new user. When you retire a device, it should be properly scrubbed.

Prepare for Device Loss or Theft

Unfortunately, mobile devices and laptops get lost or stolen. When that happens, you should have a sequence of events that can take place immediately. This prevents company risk of data and exposed business accounts.

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