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  • Writer's pictureIntellikor Team

Common ways companies get hacked

Updated: Mar 28, 2023

Hackers often use unsecured Wi-Fi networks and phishing techniques to gain privileged access. Phishing is the spur for so many different types of cyber crimes.

It starts with social engineering, that leads to extortion techniques and then ransom is required. Ransomware is a type of malware which prevents you from accessing your device and the data stored on it, usually by encrypting your files. A criminal group will then demand a ransom in exchange for decryption.

Ransomware attacks on average cost the victim $1 million (for larger scale institutions, less for smaller businesses). These companies generally incur $2 million in cost for rebuilding from a cyber breach, including IT rehabilitation, data recovery and protection, plus lost productivity, and revenue. That figure doesn’t even reflect the softer cost of a tarnished brand image. Generating these attacks is now easier than ever, where (for as low as $35 per month) an attacker can pay a phishing attack service fee to help push phishing attacks into your network.

Sectors impacted by ransomware attacks

Attackers gain access due to phishing, remote access credentials (people emailing themselves a password to remind themselves sent in clear text. Software vulnerabilities not keeping systems patched, for all devices phones, computers hackers go after known vulnerabilities.

Best practices

1. Awareness and training - practice phishing campaigns

2. Regular patching and auto updates

3. Disaster recovery plan, table top exercise (practice runs)

4. Regular backups of data, redundant data stored off network

Most costly reported cyber crime last year business email compromise. Thats why at Intellikor we offer the best practices to prevent cyber attacks for our clients. Find out more today by contacting us.

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