Booming Businesses, Looming Threats- Secrets of Security Threats
We cannot
imagine leaving our PC, laptop or mobile phone operating system unprotected
from potential security threats in the current era. Similarly, do not leave
your business unguarded and vulnerable to security threats. Internal and
external threats act like parasites, latching onto growing businesses. Security
threats can compromise the framework of any business internally and externally.
Some of the most common security threats to any establishment are spyware,
malware, ransomware, trojan horses, etc. Apart from these, any establishment
may face other security threats as well.
Possible
internal threats are often overlooked as trivial issues, but these issues can
be morally and financially damaging to any establishment. A begrudged worker or
an unauthorised visitor can easily cause data leaks internally without being
detected. Using unauthorised devices can increase network breaches' risks,
causing the establishment of operating systems to be targeted by phishing
attacks, ransomware attacks, viruses, spyware attacks, and much more. Theft of
data and unapproved data sharing are internal security threats that can make
any establishment vulnerable. To pick out these threats can be comparable to
picking out a needle from a haystack.
Security
Threat Assessment
External
threats may appear in the form of project mismanagement, frauds or any form of
a cyber-attack on the establishment's mainframe. Security from such external
threats is necessary for the growth of any establishment. A security risk assessment agency is
required to be brought on to the scene to assess all possible threats that may go unnoticed by personnel of any establishment. Such agencies
employ in-depth assessments to locate the vulnerable sections and minimise the
effects of any threat posing harm to any establishment's growth. Hence
most establishments employ internal security or external security agencies to monitor any security lapses occurring over time.
Fraud
Risk Assessment
Misappropriation
of assets, corruption within organisations, fraudulent reporting can profoundly
impact any establishment's future. Fraudulent activities as such are rooted
deep and cannot be detected easily without a professional fraud risk assessment agency. These agencies perform audits to
detect possible diversion of profits, personnel misconducts, fraudulent
schemes, etc. The agencies detect fraud risks and formulate countermeasures to
combat fraudulent activities, and offer elaborate strategic plans to secure the
establishment from future fraudulent threats.
A
Risk without Discrimination
It is a
common misconception that small level establishments are not subjected to
security threats. Instead, the small and mid-level growing establishments are
more prone to security lapses causing data leaks. However, high-level establishments
are not immune to data leaks either. Over time large scale data leaks have
occurred from highly reputed companies due to security breaches. In the year
2013, one such large scale data leak occurred from a well-established company
resulting in 38 million user accounts being breached with their data stolen.
Several parts of the necessary source code were reported as stolen as well by
the establishment. The data leak incident resulted in a hefty penalty on the
establishment for its lapse of security which left its clients
vulnerable.
It is very
common to wonder what happens to the data leaked from an establishment. Stolen
data can help perpetrators spy on their victims' actions and use their data for
gains suitable for their purpose. Data thieves use the stolen data to access
accounts and often use debit and credit card data to siphon money out of the
victims account without any alerts. They may also use the data to target the
victim with specific Ponzi schemes to cause much higher financial losses. The
data thieves may also carry out an elaborate coercive strategy to cause
establishments severe financial losses and reputational risk, which can leave a
long-lasting impact on the establishment's future growth.
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