Prevention Techniques for Common Cyber Attacks: A Guide to Keeping Your Business Safe

Cyber threats are constantly evolving, and every business—big or small—faces the risk of an attack. Last week, we explored what happens when employees encounter the top 10 common cyber attacks like wire fraud, ransomware, and phishing. We also discussed how employees should react to mitigate the damage.

Now, we shift focus to prevention. In this article, we’ll delve into actionable prevention techniques for common cyber attacks that can stop these threats before they even reach your door. Whether you’re an end user, part of an IT department, a virtual CISO (vCISO), or a Managed Service Provider (MSP), you play a critical role in preventing cyber attacks.

For small and medium-sized businesses (SMBs), resources for cybersecurity are often limited. This can lead to vulnerabilities, especially when compared to larger corporations with bigger budgets. But don’t worry—simple and cost-effective prevention techniques for common cyber attacks exist that you can start implementing today. With a collective effort from both technical teams and employees, these attacks can be prevented.

Let’s take a closer look at how to prevent the top 10 common cyber attacks, starting with wire fraud.

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   Wire Fraud Prevention: Protect Your Financial Transactions

Wire fraud remains one of the most common cyber-attack methods targeting businesses.

Here’s how to protect yourself:

• Use Multi-Factor Authentication (MFA): Require MFA for all financial transactions to add an extra layer of security.
• Verify Requests Independently: Always double-check wire transfer requests through a separate communication channel like a phone call to a verified contact.
• Set Up Alerts: Enable bank account alerts to monitor unusual transactions.

BONUS: Establish strict protocols for authorizing wire transfers, ensuring no single person has full control over the process. A Wire Transfer Protocol can help with this.

2. Business Email Compromise (BEC): Stop Phishing in Its Tracks

BEC is a major threat, often leading to significant financial losses.

Here are ways to stop it:

• Email Filtering and Security: Invest in advanced email security tools to detect and block phishing attempts.
• Employee Training: Conduct regular training to help employees identify suspicious emails and understand the importance of verifying unusual requests.
• DMARC, DKIM, and SPF: Implement these email authentication protocols to reduce spoofing risks.

BONUS: Keep employees sharp with regular positive and educational phishing simulations. These realistic tests can help reinforce awareness and increase preparedness.

3. Ransomware Prevention: Keep Your Data Safe

Ransomware attacks can bring your business to a halt.

Here’s how to defend against them:

• Regular Backups: Schedule frequent offline backups of critical data for quick recovery.
• Patch Management: Keep all software up to date with the latest security patches to reduce vulnerabilities.
• Network Segmentation: Split your network into segments to contain ransomware in case of a breach.

BONUS: Implement Endpoint Detection and Response (EDR) solutions to detect and respond to threats in real-time.

4. Phishing: Stay One Step Ahead

Phishing attacks trick employees into revealing sensitive information.

Prevent them with these steps:

• Email Security Solutions: Use security software to block phishing emails before they even reach your inbox.
• Security Awareness Training: Regularly train employees on identifying phishing attempts and the correct actions to take.
• Phishing Simulations: Use educational phishing simulations to test and train employees effectively.

BONUS: Encourage employees to always pause and think before acting on urgent emails. A skeptical attitude helps prevent falling for scams.

5. Credential Stuffing: Safeguard Your Accounts

Credential stuffing attacks target weak login systems.

Here’s how to fight back:

• MFA Everywhere: Require MFA for all user accounts to add a protective barrier against unauthorized access.
• Strong Password Policies: Ensure all users create long, unique passwords and store them in a password manager.
• Monitor and Respond: Keep a close watch for unusual login attempts and respond quickly to potential threats.

BONUS: Teach employees the importance of using different passwords for every site to avoid falling victim to credential stuffing.

6. Social Engineering: Don’t Get Fooled

Social engineering manipulates people to gain access to confidential information.

To avoid it:

• Awareness and Training: Regularly train employees to recognize social engineering tactics.
• Verification Protocols: Develop clear steps for verifying requests for sensitive information.
• Reporting Mechanism: Create an easy way for employees to report suspicious interactions.

BONUS: Role-playing scenarios during training sessions can help employees practice recognizing social engineering attempts.

7. DDoS: Defend Against Overwhelming Attacks

Distributed Denial-of-Service (DDoS) attacks can overwhelm your network and bring down your services.

Here’s how to prepare:

• DDoS Mitigation Services: Use specialized services that can absorb DDoS traffic and protect your network.
• Scalable Infrastructure: Build your infrastructure to handle sudden traffic spikes and absorb attack traffic.
• Incident Response Plan: Create a plan specifically designed to tackle DDoS attacks, and update it regularly.

BONUS: Test your DDoS response plan with regular drills to ensure all team members are prepared.

8. Malware: Stay Protected from Malicious Software

Malware can compromise your entire system if left unchecked.

Here’s how to keep it out:

• Antivirus and Anti-Malware: Use real-time protection software to detect and block malware.
• Regular Updates: Keep all systems and software, including antivirus programs, updated.
• User Education: Educate employees about safe browsing and the dangers of downloading unknown files.

BONUS: Implement application whitelisting to prevent unauthorized software from running on your systems.

9. Insider Threats: Monitor Internal Risks

Insider threats often come from employees who misuse their access.

To prevent this:

• Access Controls: Implement strict access control measures based on job roles and regularly review them.
• Monitoring and Auditing: Monitor employee activity and perform routine audits for suspicious behavior.
• Employee Education: Teach staff about the importance of data security and the consequences of unauthorized access.

BONUS: A positive workplace culture can lower the chances of disgruntled employees becoming insider threats.

10. Zero-Day Attacks: Stay Prepared for Unknown Vulnerabilities

Zero-day attacks exploit vulnerabilities before they are discovered.

Here’s how to stay protected:

• Patch Management: Quickly apply critical updates to minimize exposure to zero-day threats.
• Vulnerability Scanning: Regularly scan your network for weaknesses and fix them promptly.
• Threat Intelligence: Keep up with the latest exploits using threat intelligence services.

BONUS: Use Intrusion Detection and Prevention Systems (IDPS) to detect and block potential zero-day attacks.

Conclusion: The Power of Prevention

The digital world is filled with potential cyber threats, but implementing the right prevention techniques for common cyber attacks can significantly reduce your risk. By combining technical solutions with the proactive engagement of employees, you can stop most cyberattacks before they even start. Whether you’re an SMB or a large enterprise, these affordable and practical strategies will help safeguard your business.

Collaborate with your IT teams, train your staff, and always stay informed about the latest threats. Prevention is the best defense. Follow Cyber Knowledge Base for more information.