How To Guard Your Business Against Cyber Threats Amid the Pandemic in 2021

Cyberattacks are more common than ever and can happen at any time. These attacks are not only damaging to business continuity, they can affect a company’s bottom line and brand image. Since all companies are potentially vulnerable to an attack, we must consider the implications of losing all our data. Is there anything worse than not being able to access your business files and/or financial records?

Liberman Networks, Inc., 60 per cent of small companies

Handout

A Cyber Attack Trends: 2021 Mid-Year Report states that global cyber attacks increased by 29 per cent as hackers continue to exploit the COVID-19 pandemic and shift to remote work. Along with this alarming statistic, the report also states ransomware attacks surged by 93 per cent in the last six months, fueled by innovation in an attack technique called “Triple Extortion”.

In 2020, one of the most notorious cyberattacks happened on the social media platform Twitter. Around 130 accounts were targeted after a tweet went out to millions of followers, requesting donations in cryptocurrency from official celebrity accounts. The cyber criminals received hundreds of transfers, which totaled more than $100,000. The stock market value of Twitter dropped, as well as its reputation and any followers who fell for this scam, lost their money.

The media tends to report more stories on well-known companies targeted by cyber criminals because they are newsworthy. However, 43 per cent of cyberattacks are also directed at small to medium-sized businesses.

The impact of COVID-19 on cybersecurity

The challenging times spurred by the COVID-19 pandemic has shown that no corporation is immune to cyberattacks. Even the largest and seemingly secure companies have suffered from system vulnerabilities.

Liberman Networks, Inc. was founded in 2005 with the intention of economizing IT service for the SMB and SOHO space, largely in the healthcare and financial industries. These two fields are particularly prone to cyber threats, especially during the pandemic as hackers look to steal social security numbers, patient medical records and other personal data. With over 15 years operating in the cyber security space, LNI is a significant and highly trusted player. The company has developed strong partnerships with the likes of Microsoft, Dell, Datto, Lenovo, N-Able, SentinelOne, Crowdstrike, Horizon3 AI and Cisco. With their ability to protect and safeguard businesses, they were quick to provide security upgrades for companies that were caught flat-footed during times of hardship.

Backup your data

Data backup is critical for any business in order to preserve its security and continuity, as well as protect the brand’s reputation.

According to CyberCrime Magazine, 60 per cent of small companies go out of business within six months of falling victim to a data breach or cyberattack. A data breach where information is stolen and accessed by a cybercriminal without authorization is one way to destroy a company’s bottom line and brand reputation. 

Jason Liberman, founder of Liberman Networks, Inc. shares, “It is recognized and accepted that data backup is a necessity, but are you backing up all of your data? Your cloud-based data in Microsoft 365 and Google Apps is vulnerable to attack and corruption. Backup of SaaS data is crucial to a disaster response plan. Testing of the backup sets should be done regularly. Instead of solely backing up, look to business continuity solutions such as Datto.”

Having only one copy backup of your data stored on-site is not an adequate measure for data protection, nor is having paper copies of business data. Keeping either two or three copies stored offsite is a safer protection method. Cloud backup services are now becoming increasingly popular for businesses in need of cyber security solutions.

Use multi-factor authentication

Multi-factor authentication (MFA) is an additional layer that makes hacking even more difficult by requiring access beyond a username and password. Some ways include entering codes from apps on smartphones into logins screens.

According to research from LastPass based on data from 47,000 orgs, approximately 57 per cent of businesses around the world are currently using multi-factor authentication (MFA), with a 12 per cent gain over the stats from last year.

Because MFA is an access control component that requires users to authenticate their identity with at least two distinct verification factors before accessing a website, mobile application, or another online resource, if one of the factors is compromised, the attacker has at least one more hurdle to overcome before gaining access to your data. According to Liberman, “Multi-factor authentication is no longer optional. Passwords are easily compromised through a variety of methods including phishing, social engineering and brute force. Not using MFA is akin to relying on your brakes to protect you while driving. Although brakes do reduce the likelihood of harm, seatbelts are more appropriate.”

Deploy an EDR

Endpoint Detection and Response (EDR) is an advanced security system that provides an integrated solution for securing computer hardware devices from potential threats.

EDR includes real-time monitoring and detection of threats for those that may not be easily recognized or defined by standard antivirus. It helps to eliminate threats quickly and minimize the impact of an attack. Since the software is installed on the device and monitored constantly, the user gets notified almost immediately when a threat is found. This is a crucial tool for business owners to have in their cybersecurity toolbox.

Liberman Networks, Inc. founder Jason Liberman advises that relying solely on antivirus solutions of yesterday will make any company vulnerable to new attacks. He adds, “EDR solutions like SentinelOne, Sophos and Crowdstrike offer robust protection to emerging threats. It is the next generation of protection.”

Technology is complicated and dangerous, yet it is a necessary part of modern life. The security flaws of a business could potentially cause greater repercussions in 2021. It is critical for everyone to understand how to prevent and manage the risks involved.

News Related

OTHER NEWS

SEC Chairman Lays Out Crypto Market Agenda in Senate Testimony

U.S. SEC Chairman Gary Gensler spoke to a Senate Committee about the U.S. markets and listed several areas of focus with respect to the crypto markets. – be[IN]crypto United States ... Read more »

What is Google Page Experience, and Why Does it Matter?

Have you heard of Google Page Experience? If you haven’t, and you prioritize search engine optimization (SEO) as a strategy to support your business, you’re behind the times. Google’s Page ... Read more »

The Case for Transparent AI

I can’t go on Facebook without seeing magicians. I can trace it back to when I watched a video of America’s Got Talent. It started with singers, but soon it ... Read more »

Fidelity Makes Case for Bitcoin ETF With SEC

In a recent presentation for the Securities and Exchange Commission (SEC), Fidelity Investments argued the merits of approving its Bitcoin exchange-traded fund (ETF). – be[IN]crypto According to filings from the ... Read more »

How to recognize a fraud of an app that lends money?

They will say that it is clickbait but it is real: Currently there is a type of credit (called liquidity), offered by the internet and applications downloaded to the cell ... Read more »

This biohacker is the real-life 'Nebula': she has more than 50 chips in her body and identifies as a cyborg

If you are a fan of the Marvel universe, you surely know Nebula , Gamora’s blue sister, both adoptive daughters of Thanos. The rival of The Avengers made a series ... Read more »

Windows 11 will not be compatible with Apple's new M1 chip, Microsoft confirms

In the framework of the Apple Event , Microsoft confirmed that Apple’s M1 chip “is not a compatible scenario” for Windows 11 , as reported by The Register . Mia ... Read more »

Learn How Machine Learning Can Help Your Business

The business world is changing all of the time and smart entrepreneurs are always looking for a way to gain an advantage over the competition. One area you may not ... Read more »

Rozy, the virtual influencer who seeks to make millionaire profits

@Rozy.gram, Instagram Read more »

Crypto Execs Should Cooperate With Regulators, Says SALT Panel

Cryptocurrency executives ought to work with regulators to facilitate wider acceptance, according to members of a digital currency panel at Wall Street’s SALT conference. – be[IN]crypto The panel included Canadian ... Read more »

Pfizer Says COVID-19 Vaccine Efficacy Weakens Over Time

Pfizer said that data from Israel and the United States suggests that its COVID-19 vaccine efficacy drops over time and claimed that booster doses are effective at dealing with new virus variants. Federal health ... Read more »

With This App, A Healthy Lifestyle Is Just One Click Away

Amid this pandemic, there has been a lot of change in our lifestyle, from our eating habits to the way we are perceiving things. We have been doing everything with ... Read more »

Taco Bell is Rolling Out A Subscription Service That Will Give Fans a Taco a Day

A taco a day probably keeps something away, but for fans of beloved fast-food chain Taco Bell, it will only keep customers coming back for more. SOPA Images | Getty ... Read more »

Starbucks and Other Businesses Near Disney World Reportedly Sell for Higher Prices

The Orlando Business Journal reported this week that Starbucks locations in Central Florida usually sell for about $3 million, but ones near the Walt Disney World Resort can sell for ... Read more »

This Is Probably the First All-in-one Finance and Wellbeing Platform

There were many peaks and valleys in KashAmini’s life. At an early age, he came to realize that hard work and discipline were the keys to achieve any goal and ... Read more »

Reshaping the World Of Gaming Kingdom, Your Go To Place For Entertainment

When the COVID-19 pandemic was on the rise, the gaming industry was also making its kingdom discovered. In nanoseconds, the gaming industry exploded in popularity familiarising millennials with another secret ... Read more »

This Young Gun Can Be an Inspiration For Many

Success is a spectacular feeling which cannot be defined but only perceived. With innumerable ways to walk on the path of success, nothing in the world can guarantee you the ... Read more »

A Visionary Doctor Explains How Novel Technology Is Changing Advanced Manufacturing

Technology is changing rapidly. The limits of what was believed to be possible are constantly being shattered. IoT, smart technology, AI, AR/VR, and more are all transforming industries across the ... Read more »

The Engineers' Era

“My husband is from IIT-Delhi, my brother-in-law is also from IIT-Kanpur and everyone in my family is an engineer, including me. However, my son has scored 7 out of 10 ... Read more »

Want Tasteful Lingerie? Here's Where To Get It From

It has been said that lingerie is the maximum expression of a woman’s femininity. But these days, it seems that lingerie is more promiscuous than it is classy and tasteful. ... Read more »

A Breakthrough Innovation In Women's Innerwear

A proper-fitting bra can help a woman feel more confident. Additionally, it can help reduce breast sagging and other health issues. Research has shown that the majority of women are ... Read more »

Household Income of Americans Fell in 2020 for First Time Since 2011: Census Bureau

The household income of Americans fell last year as COVID-19-related lockdowns wrought havoc on the economy, according to new figures from the Census Bureau. The median household income was $67,521 in 2020, ... Read more »

E-mobility And Batterytech Startup Sheru Raises Pre-Series A From Venture Catalysts And Others

E-mobility technology startup Sheru, on Wednesday, announced to have raised an undisclosed Pre-Series A round led by early-stage investor Venture Catalysts (Vcats).  The round also saw participation from e-mobility-focused investors including ... Read more »

Gaming Platform Quizbee Raises Funds From Kanodia Group

Online gaming startup Quizbee on Wednesday announced that it has raised an undisclosed amount of funds through pre-Seed funding led by Kanodia Group. Quizbee Quizbee, a new entry in the ... Read more »

Anar Raises $6.2 Mn Seed Funding Co-led By Elevation Capital And Accel India

Business-to-business (B2B) networking platform Anar on Wednesday announced that it has raised $6.2 million in Seed funding co-led by Elevation Capital and Accel India. This round also saw participation from ... Read more »

SaaS Startup Godamwale Raises $1 Mn Seed Funding

Software-as-a-service (SaaS)-based supply chain and logistics service provider Godamwale on Wednesday announced to have raised $1 million in its Seed fund round from angel investor Captain Anand Aryamane. Godamwale The ... Read more »

Edtech Startup Tinkerly Raises INR 6.5 Cr Led By Navneet Education And Others

Jaipur-based edtech startup Tinkerly, on Wednesday, announced to have raised INR 6.5 crore in the latest round by Navneet Tech Ventures (a wholly-owned subsidiary of publication and content provider, Navneet ... Read more »

Scalenut Raises $400,000 Seed Funding

Artificial Intelligence (AI)-enabled content intelligence platform Scalenut on Wednesday announced that it raised $400,000 in Seed funding led by Titan Capital, First Principles VC, AngelList, Abhishek Goyal, and other angel ... Read more »

MPL Is India's Latest Unicorn; Now Valued At $2.3 Bn

Esports and skill gaming app Mobile Premier League (MPL) has become India’s latest startup unicorn, raising funds at a $2.3 billion valuation in Series E financing. Unsplash The investment round ... Read more »

Shadez Raises Over $200,000 Pre-Series A Round Led By Inflection Point Ventures

Home interiors startup Shadez on Wednesday announced that it raised over $200,000 in pre-Series A round led by Inflection Point Ventures (IPV). Shadez The funds raised will be used for ... Read more »

Vahan Raises $8 Mn Series A Funding Round Led By Khosla Ventures

Bengaluru-based jobs and livelihood platform for blue-collar workers, Vahan on Wednesday announced that it raised $8 million in its Series A round of funding led by pre-eminent Silicon Valley investor ... Read more »

Gemba Capital Launches $10 Mn Micro VC Fund ToInvest In 24 Companies In The Next 2 Years

Committed to supporting founders that possess an unwavering ambition to build large world-class companies, Gemba Capital on Wednesday announced the launch of its maiden Micro VC fund of $10 million. ... Read more »

Earnings Estimates Have Stopped Going Up

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please ... Read more »

Skyworks Solutions (SWKS) Stock Sinks As Market Gains: What You Should Know

Skyworks Solutions (SWKS) closed the most recent trading day at $176.77, moving -0.76% from the previous trading session. This change lagged the S&P 500’s 0.85% gain on the day. – ... Read more »

FuboTV Inc. (FUBO) Stock Sinks As Market Gains: What You Should Know

fuboTV Inc. (FUBO) closed the most recent trading day at $27.15, moving -0.22% from the previous trading session. This change lagged the S&P 500’s daily gain of 0.85%. – Zacks ... Read more »

Haverty Furniture (HVT) Outpaces Stock Market Gains: What You Should Know

Haverty Furniture (HVT) closed the most recent trading day at $34.22, moving +1.36% from the previous trading session. This change outpaced the S&P 500’s 0.85% gain on the day. – ... Read more »

Patrick Industries (PATK) Outpaces Stock Market Gains: What You Should Know

Patrick Industries (PATK) closed at $80.47 in the latest trading session, marking a +1.71% move from the prior day. This change outpaced the S&P 500’s 0.85% gain on the day. ... Read more »

Penn National Gaming (PENN) Outpaces Stock Market Gains: What You Should Know

Penn National Gaming (PENN) closed the most recent trading day at $76.46, moving +1.85% from the previous trading session. The stock outpaced the S&P 500’s daily gain of 0.85%. – ... Read more »

Will China ETFs Feel the Heat of Weak Economic Data?

The world’s second-largest economy continues to see a streak of disappointing economic data for August. According to the National Bureau of Statistics (NBS), industrial production increased 5.3% year over year ... Read more »

Texas Instruments (TXN) Outpaces Stock Market Gains: What You Should Know

Texas Instruments (TXN) closed the most recent trading day at $197.50, moving +1.22% from the previous trading session. This change outpaced the S&P 500’s 0.85% gain on the day. – ... Read more »