Why Cyber Attacks Are the Top Risk for All Businesses

According to insurer Allianz, the biggest risk that companies face in the year 2020 will be cyber attacks. Learn how to keep your Northern Utah company safe.  

Cybersecurity Solutions In Salt Lake City

Cyber Attacks Target Local Organizations

European financial services company, Allianz, has stated that cyberattack incidents will be the biggest risk for companies in 2020.

For most Northern Utah companies, this isn’t a surprise. In recent years, awareness of the threat that cybercrime poses has increased by a large margin. An increasing number of companies are aware of incidents throughout North America involving cybercriminals, ransomware, phishing schemes, malware, and other dark activity.

Still, the recent statistics from Allianz’s annual list of top company concerns is alarming. In 2013, cybersecurity was listed as the 15th most worrisome risk. Today, it is number one.

What is happening to companies who are targeted?

There are all sorts of cyber scams out there, but most of the incidents have something to do with extortion after a data breach. Often, a cyber attack will involve gaining access to a company’s sensitive data, then shielding access to that data. The targeted company will then receive a message stating that if they do not pay a certain large sum (often in the hundreds of thousands or millions), the data will be released on the dark web, deleted, or encrypted forever.

These “ransomware” incidents can happen to any company, no matter the industry, no matter the size. Extremely large corporations are targeted as are small mom-and-pops and midsize businesses with 20 to 50 employees

What do companies need to do to stay protected?

As is evidenced by the Allianz risk survey, the majority of companies are aware that cybersecurity is something they need to pay attention to. Still, many companies are using old types of firewalls, easy to crack passwords, and other rudimentary security measures to protect their data. These tactics simply don’t cut it anymore. Hackers have stated plainly that most passwords are easy to decode in a matter of seconds. Moreover, employees are not trained well in cybersecurity measures and are easily duped by phishing emails.

The best way to keep your company safe from a ransom incident or any other type of cybersecurity threat is to work with a managed service provider who is experienced and skilled in cyber protection. You’re looking for an IT company that stays on the cutting edge of security measures and knows all of the latest attack tactics as well. While you may have been able to handle your own company’s IT security 10 or 15 years ago, today it’s virtually impossible to adequately protect your business without outside help from a managed service provider.

What are the advantages of hiring a managed service provider?

While your company may be big enough to have an in-house IT department, many companies can’t legitimize such a payroll obligation. Furthermore, many IT departments are manned by only a few employees who need to spend most of their time troubleshooting for your employees, installing new software and hardware, and handling other basic day-to-day IT needs.

A managed service provider can provide you with all the cybersecurity measures you need to keep your business safe. They can monitor your data and network systems to look for anomalies and possible breaches. They can also update your systems and security tactics whenever new threats arise. Because they are not in-house, you need to pay only for the services you require and not more.

Is your company’s data safe?

Think about the current state of your company’s data. Would it be safe if a cyber attack were to happen right now? If not, consider this article a sign that it’s finally time to take charge of your cybersecurity with the help of a reputable IT company in Northern Utah.

Contact Your Cyber Security Professionals

Nexus IT is a leading IT services company in Salt Lake City, Park City, and all across Northern Utah. Our worry-free, hyper-responsive approach has won us numerous awards in IT support and solutions. Are you ready to take your IT security to the next level in 2020? Schedule your IT service consultation with Nexus IT today.