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What Industries are Most at Risk for Cyber Attacks?

Security

Is Your Industry More Vulnerable to Cyber Crime?

Functional and secure IT has become vital in almost every industry. Businesses and organizations that handle sensitive information or have low technology budgets are at especially high risk of cyber attacks. As digital operations and interactions become the norm, business leaders have to recognize the risks and take a proactive approach to cybersecurity. Identifying vulnerabilities is the first step toward enhanced security for organizations in industries at risk for cyber attacks.

Top Industries at Risk for Cyber Attacks

The following isn’t an exhaustive list by any means, as just about any organization can fall victim to a cyber attack. Still, our experience with cybersecurity has taught us that the following industries are especially vulnerable to cyber attacks. Hackers target businesses and other organizations they think are likely to have valuable, vulnerable information.

It’s always important to know the risks, especially if you work in any of the following industries at high risk for cyber attacks.

Industries at Risk of Cyber Attacks:

How an MSP Can Help

Manufacturing
  • Eliminate Costly Downtime
  • Reduce Operating Cost
  • 24/7/365 Support
Healthcare
  • HIPAA Risk Assessment
  • Business Associates Agreement
  • Disaster Recovery
Financial
  • Phishing Attack Training
  • Cloud-Based Backups
  • SOC1 Certified Data Center
Legal
  • Protect Confidential Information
  • Help Desk Plus Onsite Support
  • Private Network Support
Real Estate
  • Cloud Collaboration and Sharing
  • Document Versioning Capabilities
  • SOC1 Compliance
Not-for-Profit
  • Risk Assessment Technology
  • Managed Network and Support
  • Procurement Advice
  • Manufacturing – Unplanned downtime will almost always damage the bottom line. Maximize efficiency and profits without excessive upfront investments.
  • Healthcare – The stakes are high when health is on the line. Protect patient privacy and provide superior care with secure, productive networks.
  • Financial – Hackers like to target organizations that manage lots of money. We’ll protect your business while you protect your clients’ nest eggs.
  • Legal – Lawyers work day and night, and are no strangers to confidentiality. We’re similarly invested in tireless support and complete discretion.
  • Real Estate – Misplaced paperwork can halt transactions in their tracks. Give your agents the tools they need to keep closing deals.
  • Not-for-Profit – As disturbing as it is, some hackers target not-for-profit organizations that don’t have the budgets for adequate cybersecurity. The right IT and security partner can address threats with affordable solutions to keep you focused on the mission.

What Happens During a Cyber Attack?

Hackers are becoming more sophisticated, so ransomware and other cyber attacks are becoming more complex. The best method of defense is to know what you’re up against, but following trends and keeping up with technology is demanding work. Business leaders are realizing the need to educate themselves and their employees about different types of ransomware.

Even while taking proactive steps to increase cybersecurity, disaster recovery plans have proved to be critical. The cost of ransomware averages close to 100,000. Ransom demands cost businesses in the United States billions of dollars each year in total, and the effects can be devastating.

Outsourcing Cybersecurity

In one of the industries at risk for cyber attack? No need to stress about it! Contact ThrottleNet, and our team of cybersecurity experts will create a customized plan to keep your organization safe. We’re consistently rated among the best IT companies in St. Louis because of our focus on security. When you reach out to us, you’ll see why we’re the trusted MSP for organizations in industries at risk for cyber attacks.

As we close in on the fourth quarter of 2020, it’s beyond a doubt that the COVID-19 pandemic has had a major impact on virtually every industry. A health crisis has expanded into an economic one, and we have witnessed the tragic loss of life and livelihoods. While some were lucky enough to maintain their jobs by working remotely, others have been dealt a cruel blow and have lost their employment. 

The industry that has almost indisputably come under the most pressure since the COVID crisis began is the medical industry. Not only have medical professionals had to deal with unprecedented volumes of patients, but they have also had to do so in compromised conditions. 

On a positive note, due to the aid of technology and remote work possibilities, many medical practices are able to continue safely offering their services. Medical professionals have adapted to the circumstances, requiring masks and regular sanitation procedures, as well as offering telemedicine services.

The Security Risks of Telemedicine

With telemedicine becoming a major trend during the pandemic, many medical professionals have since transitioned to this remote service offering. Using video conference technology and other tools, doctors and health professionals can provide appointments to their patients from their own homes. Although telemedicine isn’t always as effective as face-to-face examinations, it allows for much-needed long-distance advice, care, and monitoring for high-risk patients.

That said, there are several potential cybersecurity threats that exist when practicing medicine remotely. Practitioners may not be accessing confidential data securely, putting them and their patients at risk of a data breach. This is not only dangerous for doctors and their patients, but it could be in violation of HIPAA regulations. It’s vital that medical professionals working from home are using secure connections to access data and review patient records. 

If you have or are planning to establish a remote medical practice, here are five ways to make sure you can practice telemedicine securely:

1. Set up a secure VPN to access data.

A virtual private network (VPN) provides a secure connection to onsite servers via an Internet connection. Companies set up VPNs to allow their employees to have remote access to their business networks from any location. 

The VPN works by securing the connection between the user and the servers, as if it were a tunnel encasing any information being sent across the VPN. It also encrypts any files that travel across the network so that even if the data is intercepted by an unauthorized user, they will not be able to read the file.

To set up a VPN, work with a professional in remote network security who can set up a network that will work best for your practice.

2. Implement MFA on all devices and accounts.

Multi-factor authentication (MFA) is a security measure that protects accounts from being hacked. MFA involves multiple security steps to gain access to a device or account. When a user attempts to log in, they are required to provide additional information other than a username and password. 

For example, you may be asked a series of personal questions (decided by you) that nobody else knows the answers to. Fingerprint scanning is a more modern example that’s frequently used with mobile technology. Another second authentication factor may be a text code sent to your mobile device. 

The idea is that while hacking someone’s password may be simple for an experienced threat actor, it becomes nearly impossible for the hacker to both steal your password and your physical device, or get access to your fingerprint, or answer a security question. In fact, MFA prevents about 99.9% of account hacking attempts.

MFA adds depth to the security measures, keeping your devices and accounts safe. You should implement MFA on any and all accounts and devices.

3. Ensure your Internet connection is secure and has the proper bandwidth and connectivity.

You’ll want to check the security, speed, and bandwidth of your internet connection to ensure data can be safely accessed on your devices. You should also install anti-virus and theft preventative software to minimize the risk of a data breach. 

Adequate network speed and bandwidth facilitate your work demands and ensure you have the capability to safely perform tasks such as video conferencing with patients without your Internet cutting out. While commercial Internet speeds are generally quite high, some home network speeds are too slow to work from and could be easily intercepted by a threat actor.

4. Learn how to avoid social engineering attacks (especially phishing emails).

Phishing is a type of scam whereby hackers attempt to trick you into sending them your personal information. This is generally done by email, text message, or social media. The scammer pretends to represent a reliable source, such as a bank or subscription service, and asks you to confirm account information, click on a link, or download an attachment.

When you click on a phishing link or attachment, it will often be laced with malware that will infect your device and compromise your data. Reliable businesses will likely never directly ask you for personal information in an email, so it’s best to avoid these requests altogether.

Scan all messages closely and be wary of anyone asking for information to be shared online. Look out for red flags such as improper grammar, strange sender addresses, and links that resemble legitimate business addresses (such as amaz.on.com rather than amazon.com).

5. Eliminate any BYOD policies and opt for company-issue devices instead.

Bring-Your-Own-Device policies have their benefits, but when running a medical business remotely, it’s important to prioritize security for the sake of you and your patients. 

Healthcare data is highly valuable to hackers, so it’s wisest to work from company-issued devices that can be securely maintained and managed according to HIPAA regulations rather than use personal devices. Company-issued devices can be customized to only allow access to certain sites, prevent downloads of unauthorized programs, and monitor any potential security threats.

As your medical practice finds ways to leverage technology and help patients more effectively during these difficult times, it’s critical that you maintain safety. By implementing these 5 best practices for remote security, your practice will be well-positioned to defend against even the latest remote threats.

One of the fastest-growing newcomers to the social media game, TikTok, is accused of harvesting its users’ personal data and has been pinpointed as a major security threat by authorities.

TikTok is a Chinese-owned app that has risen to startling heights among the social media community in recent years. Users of the app can make short, entertaining videos, adding filters, music, and other effects. Due to the short and engaging nature of the app, it has become very popular for viral challenges. 

The TikTok content algorithms intend for videos to have high reach potential, regardless of the number of followers that the creator has. Where popular social platforms like Instagram, Facebook, Twitter, and YouTube have become brand and monetary focused, TikTok has maintained a creative identity where like-minded people can connect as a virtual community, increasing its popularity, especially among youth.

TikTok’s Worldwide Success

Here are some statistics to demonstrate TikTok’s popular position in the marketplace:

  • In 2019, TikTok was the second most downloaded free app in the world. The only app with more downloads was WhatsApp. 
  • The app has 800 million active users worldwide and has been installed on over 1.9 billion devices all over the world.
  • It is available in 154 countries and is most popular in Asia.
  • Per post, it has the highest engagement rate of all social media channels. 
  • 20% of TikTok’s revenue comes from the USA and 69% of its revenue comes from China.
  • 90% of active users use the app multiple times every day.

With such a strong popularity worldwide, data harvesting user information would be an egregious breach of privacy. However, issues have been identified recently that position TikTok as a major security threat according to authorities.

TikTok Security Concerns

The security concerns were first brought to light publicly in early 2019. Rival social media companies questioned the data collecting and sharing processes of the app. This prompted a call for action and investigation against the company. Government officials publicly warned people of their suspicions, including that TikTok’s privacy policies and security procedures were ambiguous at best.  

The general feeling of distrust and suspicion was fueled further in early 2020. On April 8th, a Reddit thread exploded when a user claimed to have reverse-engineered the app, subsequently finding suspicious and intrusive user tracking. The thread detailed a host of privacy issues within the app. The user claimed that TikTok was a “data collection service that is thinly-veiled as a social network.” 

The Reddit user suspected that TikTok has been using an API to collect private information on users, users’ contacts, or users’ devices. There have also been claims that TikTok had been harvesting data involving the following:

  • Phone hardware: CPU type, hardware ID, memory usage, disk space, etc.
  • Other apps installed on your device.
  • Network information: IP addresses, routers, Wi-Fi information.
  • Information on whether or not your device has been rooted or jailbroken.
  • GPS data.
  • A proxy server (intended for “transcoding media”) that has zero authentication.

What We Know About TikTok’s Data Harvesting

Since these claims, some security researches have refuted the allegations and claimed that the information that TikTok collects on their users is in line with the regular standards for social media apps. Beyond the speculation and allegations, however, here are some key points that we know for sure about TikTok’s information gathering: 

  • TikTok records all information involved in creating content or messaging, including drafts, deleted content, and content or messaging that was never posted. 
  • Keystroke dynamics, indicating where you touch or swipe your screen, are recorded. These patterns are significant. No other social media platforms claim to capture this data.
  • TikTok absorbs all information about your device. This is standard practice for the majority of social apps. 
  • Access to your contacts is granted with your permission.
  • TikTok determines what you’re interested in and generates a custom feed to provide content that you will enjoy. The main issue with this is that developers in China can potentially manipulate what content you see. This can lead to subliminal messaging, persuasion, censorship, and other intrusive acts. 

While there is still much speculation regarding whether or not TikTok is harvesting users’ data illegally, national governments and those studying the app have noted significant security concerns tied to the app. 

What Can Users Do?

One thing that is certain is that TikTok does collect a lot of information from its users. Security experts therefore suggest working with a trained managed IT security professional to ensure your devices are properly managed to secure private data and avoid breaches of personal information. 

Working with a security expert is especially critical if as a business owner, your employees use TikTok on the same devices they access company data. This is becoming more common as employees are working from home and often subject to BYOD policies. Downloading and using TikTok on the same device your employees work from could put company data at risk. 

As studies continue on the legality of TikTok’s data harvesting and the security threats it could pose, it’s wisest to be extremely cautious when using the app, if you use it at all. Ensure your privacy settings are set to protect your private information, and make sure you are fully aware of the privacy you may be compromising by agreeing to their usage policies.

Security has become very complex, and it presents a constant challenge. Over 4 billion records were exposed by data breaches in the first half of 2019 alone*1. More than 70% of breaches are financially motivated*2, and the average cost of a data breach is almost $4,000,000*3. As the rate of cyberattacks rises, vulnerability audits help businesses identify their current weaknesses before they eliminate threats withoutsourced cybersecurity.

Is Outsourcing Cybersecurity Possible?

Security is all about limiting access, so does it really make sense to outsource? In this case, yes it does. You probably didn’t install the doors, windows, and alarm system by yourself, either. Trusting a managed IT service provider with your security is a good idea because some jobs are best left to the professionals.

How Do You Know It’s Time to Outsource IT Security?

Many business leaders only realize it’s time to outsource IT security after experiencing data loss or some other disaster. By the time you’re reading this article, you’ve probably already seen some of the signs that it’s time to entrust your cybersecurity to dedicated specialists:

  • Past Cyberattacks – You’ve almost run into trouble with viruses, malware, or phishing attacks in the past.
  • High Risk – You have a lot of sensitive customer data or other confidential information. This is common for many companies, especially those in industries like finance, healthcare, and legal.
  • Remote Work – Employees often work remotely or use their personal devices for work.
  • Cloud Computing – Investing in the cloud is a great way to future-proof a business, but it can also be risky if the execution isn’t ideal.
  • Limited IT Budget – You don’t have enough security experts in your IT department, and don’t have the funds to hire more.

Pros and Cons of Outsourcing Cybersecurity

Like most business decisions, the decision to outsource IT security presents both advantages and disadvantages. The benefits of outsourcing cybersecurity outweigh the drawbacks for most companies, especially in the presence of any warning signs from the list above. Considering all of the following helps business leaders know what to look for when choosing a provider:

Disadvantages of Managed IT Security

  • Monetary Cost – There’s a price to pay for the best cybersecurity solutions, just like there always is when you invest in your business. The good news is that outsourcing almost always costs less than assembling an in-house team.
  • Reliability – Some managed service providers hide behind buzzwords, then collect money without providing anything of real value. Separate contenders from pretenders by looking for cybersecurity companies that provide free consultations. This will help you see how the service can address your needs.

Advantages of Managed IT Security

  • Prevent Disasters – Simply put, investing in security will help keep your business safe. Managed IT companies will find the right specialists for your needs, then help train your own staff as needed.
  • Save Time – Hiring a managed service provider for any IT need takes work off your plate, especially when it comes to a security landscape that requires constant attention. Securing technology also limits disruptions.
  • 24/7/365 Protection – The best IT security solutions don’t have days off. This is how you manage IT risk in your sleep.

Reliable IT Security Service in St. Louis

Here at ThrottleNet, we built a team of cybersecurity experts so you wouldn’t have to. As cyber criminals become more sophisticated, we invest in new software and training to stay a step ahead of them. When you decide to outsource cybersecurity (or upgrade from your current provider), we’ll keep you protected around the clock. Contact us today for a free on-site consultation.

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Ransomware attacks normally start with something as inconspicuous as an email.

Hackers often try to impersonate a trustworthy source, so the recipient may think the email is coming from a company or person they know. Just by clicking a link or opening an attachment, the recipient may be exposing your organization to malicious software.

In the case of the St. Louis Public Library, malware was installed a different way in 2016: through a network break-in. It didn’t take long before the hackers were demanding $35,000 to relinquish control of more than 700 computers. The library was able to restore IT security because of frequent backups, but some organizations aren’t so prepared.*1

How Much Do Ransomware Attacks Cost?

Ransomware demands in the United States may exceed $1.3 billion in the United States in 2020 alone, according to a report based on hundreds of thousands of incidents. This cost only accounts for the ransom demands themselves, and businesses may lose much more because of prolonged downtimes. Once factoring in the cost of being down for 16 days, companies in the United States alone may lose over $9.2 billion because of ransomware throughout 2020.*2

The average ransom demand as of Q4 2019 was $84,116*3, but some organizations have been hit several times harder. Three different government organizations in Florida got attacked within three weeks in 2019, and at least two of the three ended up paying $500,000 or more each.*4 Hackers don’t just go after big organizations, either. In recent years, some cybercriminals have realized it’s easier to go after small or medium businesses that don’t have good defenses.

Once an organization is subjected to a ransomware attack, they’re between a rock and a hard place. Refuse to pay up, and you might be looking at weeks of downtime, lost data, and other disasters that can cripple operations. When a business does pay up, they’re essentially adding malicious hackers to their payroll. Worse still, organizations that pay ransomware demands are identified as known buyers, which may inspire more attacks in the future.

How to Prevent Ransomware

Instead of choosing the lesser of two evils during an attack, take a proactive approach against ransomware. Each of the following steps can dramatically reduce IT risk for an organization:

1 – Back up Your Data

Some businesses pay ransomware demands because they simply can’t afford to lose their data. Cloud-based backup is a critical part of any disaster recovery plan. This is why the St. Louis library was able to recover so well from their attack.

2 – Keep Remote Access Secure

Employees are at higher risk when traveling, working from home, or using public internet. Secure remote access is a must-have now that everyone works on the go.

3 – Outsource Cybersecurity to a Reliable IT Company

Cyber criminals are always finding new ways to cause chaos, steal data, and extort businesses. As hackers get more sophisticated, it’s a full time job to stay a step ahead of them. If you don’t have the payroll to build a team of security experts, find an IT security partner to protect your business.

IT Security Service in St. Louis

Here at ThrottleNet, we like to think of ourselves as the opposite of the hackers we oppose. Instead of giving you two bad choices like ransomware does, we want you to have lots of options. That’s why we offer free consultations, allowing you to gather more information before you make a decision. Contact us today to get started, and we’ll get to work protecting your business.

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Is In-House IT Holding You Back?

There’s just no way around it: most businesses can’t be successful without good IT practices. Unfortunately, it’s hard for many companies, teams, and leaders to keep up with their IT support because of the speed at which technology evolves. In recent years, more businesses in the St. Louis area have found a solution by outsourcing their managed IT support.

What Is Outsourced IT Management?

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“Managed IT” can mean a lot of different things, and it really depends on what your company or team needs. Small business owners might outsource the management of their entire IT department. Alternatively, an in-house team, manager, or administrator may just need a little bit of help when they’re understaffed and overloaded. Managed IT services can cover all of the following and more:

Outsourcing Competitive Advantage

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There are many benefits of outsourcing IT, and it can revolutionize the way some companies operate. When a business or team improves its use of technology, it immediately becomes easier to crush the competition. Our clients in the St. Louis area normally talk about six key ways in which outsourcing IT creates a competitive advantage.

1 – Increased Flexibility and Reduced Costs

Hiring a skilled IT team is difficult because the best technologists can command high salaries. The payroll balloons when you need someone to manage the network, someone to enable remote access, and someone for cybersecurity. Managed IT gives you access to a whole team of experts who can meet your specific needs, and you don’t pay for skills you don’t use.

2 – Cutting-Edge Solutions

It takes a long time to identify and implement the best technology solutions. The right managed service provider will help you stay up to date without spending hours reading up on the latest and greatest. Quality IT companies leverage years of training and experience to find efficient solutions while reducing expenses.

3 – Network Speed and Agility

Small companies are at a serious disadvantage against bigger companies that can afford faster, better technology. A managed network is one of the most efficient ways to increase speed and agility. You’re gaining access to the technology and expertise bigger companies have, but without paying for an entire in-house department.

4 – Eliminate Downtime

Preserve business continuity, minimize disruptions, and recover from disasters more quickly by leveraging solutions like the following:

  • Cloud Computing
  • Data Backups
  • Remote Access Capabilities

5 – Save Time and Resources

Outsourced IT management gives you more time to think about the big picture. There’s no need to pull someone from an important project next time trouble arises– just call your outsourced IT partner. When your team isn’t working on technology-related chores, they can focus on the core business of making customers satisfied.

6 – Improve User Experience

Not only will you have more time to focus on your customers, you’ll also be able to provide them with better interactions. Employees and clients alike will appreciate the opportunity to use intuitive dashboards and smooth login portals. Simultaneously, improved internal systems make it easier to call up accurate information whenever you need it.

IT for Competitive Advantage

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The decisions you make today will impact your ability to compete and win in the future. Our team provides IT services to help companies near St. Louis do exactly that. Get your IT situation in line now and be poised for victory no matter what the future throws your way. Be ready for anything with ThrottleNet.

Step 1 is a complimentary network assessment and consultation. Contact us today to get started.