Intelliworx warns SMBs of evolving cyber threat landscape

Intelliworx, a firm specialising in IT and cybersecurity, has highlighted several lesser-known cyber threats that small and medium-sized businesses (SMBs) face.

Cyber threats are evolving rapidly, and recent research indicates that in approximately 45% of cybersecurity cases, data is stolen within a day of a breach. This leaves organisations with only a short window to counter such attacks. SMBs, in particular, are experiencing an increasing variety of cyber threats.

Evil twin attacks are one such threat, where hackers create a fake Wi-Fi network in public spaces that resembles a legitimate one. This deception can lead to users inadvertently providing sensitive data such as passwords, emails, and credit card details to attackers. Research from Forbes Advisor shows that 40% of users have had their data compromised using public Wi-Fi networks.

To mitigate the risk of evil twin attacks, employees are advised to avoid connecting to unfamiliar Wi-Fi networks, to employ VPNs for secure internet access, and to configure their devices' Wi-Fi settings to require confirmation before connecting to new networks. When on public Wi-Fi, accessing sensitive information should be avoided, and the use of mobile data is recommended.

SQL injection attacks pose another significant threat to SMBs. These attacks involve the insertion of malicious SQL code into input fields like search bars or login forms, allowing hackers to bypass security measures and access, alter, or delete data. These attacks do not require login credentials and can be performed from multiple platforms, making them particularly concerning.

Attackers using SQL injections can gain unauthorised access to databases and IT systems, potentially stealing personal, financial, or valuable data. Some cases even enable attackers to execute arbitrary code on the server, providing them control over the system.

Cryptojacking is another growing concern where cybercriminals take over users' computing resources to mine cryptocurrency without their awareness. SonicWall reported that cryptojacking activity has surpassed the total levels recorded in 2018 and 2019 combined.

For SMBs, cryptojacking could result in higher electricity costs, reduced device performance, and possible hardware damage. To counteract cryptojacking, businesses are advised to use antivirus software, keep their systems up-to-date, and monitor device performance and resource usage.

The increasing sophistication of cyber attackers highlights the need for businesses of all sizes to strengthen their cybersecurity measures. With a reported 49% year-on-year increase in victims on ransomware leak sites, protecting against cyber threats remains crucial.

Companies should ensure all devices are equipped with the latest security updates, encourage strong and unique passwords among employees, and enable two-factor authentication when possible. Employees need to be cautious of what they download or click on, and organisations should consider antivirus protection as an additional safeguard. Regular data backups are essential to safeguarding critical information in the event of an attack. Staying informed and vigilant against evolving threats is key for SMBs to remain secure.