In the digital age, opportunities for SMEs have been multiplying exponentially. However, with them, the risks associated with cybersecurity have also increased. Digital fraud is now one of the main threats to business continuity, affecting both large corporations and small businesses.
Most common types of digital fraud
- Phishing and identity theft: Emails that mimic legitimate entities with the aim of obtaining bank details or access credentials. Just like in fishing, baits are used to deceive and capture fish, these tactics involve attracting the attention of victims to deceive them and steal sensitive information related to their activities and even their money.
- Ransomware: Data hijacking through encryption, demanding a ransom for its recovery. This is a particularly harmful type of programme that hinders or prevents victims from accessing their bank accounts, networks, or any device essential for their daily activities.
- Financial fraud: Alteration of bank accounts on invoices sent to customers or suppliers. These can be carried out through hacking, manipulation of networks or digital devices, etc.
- Business Email Compromise (BEC) attacks: Manipulation of messages between employees and executives to obtain unauthorised transfers.
Some challenges for businesses
- Low level of digital maturity: Many SMEs have not yet implemented basic cybersecurity protocols, due to, among other factors, the potentially high costs of implementing them, as well as the difficulties that the digital transition entails for companies of this size.
- Lack of specific training in cyber threats: Technical ignorance makes attacks more likely to succeed. Additionally, as mentioned in the previous point, the digital transition sometimes causes resistance in some sectors, which not only delays the necessary structural changes but also makes it easier for cybercriminals to exploit this vulnerability.
- Dependence on obsolete or poorly configured systems: IT tools without maintenance are vulnerable to attacks. Due to the slowness in acquiring new technologies and digital tools, the infrastructures used by SMEs and other business groups are outdated and poorly adapted to the needs of the increasingly widespread digital world.
- Lack of specialised IT personnel: Especially in rural areas, where resources are limited and outsourcing services can be costly.
Solutions and best practices to prevent digital fraud
- Strengthen technological protection: Multi-factor authentication on all platforms is a security method that requires users to provide one or two forms of verification to access their accounts or systems. This approach is much more secure than the traditional use of a single password, as it offers greater protection to users. Additionally, the use of next-generation antivirus with real-time detection allows for the identification of potential attacks as they occur. This gives users more leeway to effectively deal with such attacks. Finally, automatic and encrypted backups ensure that data is protected and available in case of any eventuality, guaranteeing the integrity and security of the information.
- Implement security policies: It is essential to protect systems and information. One of the key measures is to change passwords periodically, ensuring they meet robustness criteria to prevent unauthorised access. Additionally, segmenting access to systems and controlling permissions allow only authorised individuals to access certain areas or data, thus reducing the risk of security breaches. Finally, activity logging is crucial for auditing access and detecting suspicious behaviour, facilitating the quick identification and response to potential threats.
- Continuous staff training: It is crucial to maintain security in any organisation. A fundamental part of this training is the identification of fraudulent emails (phishing), which helps to avoid scams and identity theft. Additionally, it is important to teach good practices in the use of mobile devices and passwords, so that employees do not fall into traps set by cybercriminals to obtain private information. Finally, awareness of the most common types of attacks and how to avoid them is essential for staff to be prepared and able to act effectively against potential threats.
- Diagnosis and planning: These are essential steps to strengthen a company's cybersecurity. Assessing the organisation's level of digital maturity allows for the analysis of its characteristics and determination of its readiness to operate in the digital world, as well as its ability to face the dangers it may contain. Additionally, identifying weak points is crucial for developing a cybersecurity improvement plan. This plan should be designed to prevent cyberattacks and any other form of criminal activity on the network, thus ensuring the protection of the company's information and systems.
DIGIS3 support for effective cyber security
Support from DIGIS3 for effective cybersecurity DIGIS3 acts as a reference point in Castilla y León for the secure digitalisation of SMEs, midcaps, and entrepreneurs. In the field of cybersecurity, it offers:
- Free digital maturity and cyber risk assessments to improve cybersecurity and the use of digital tools as "firewalls" against network attacks.
- In-person and online workshops on digital fraud prevention, to improve the level of education and knowledge about the digital world and the use of new technologies in contributing to the business development of these organisations
- Access to specialised technology providers and subsidised solutions, to ensure that companies have the opportunity to obtain the new technologies they will need for the economy of tomorrow.
- Individualised advice to implement specific improvements.
Additionally, companies can benefit from tools, training, and connections with solutions through the DIGIS3 service catalogue.
Request your free assessment today or participate in one of our practical workshops. DIGIS3 is here to accompany you every step of the way towards a safer and more sustainable digitalisation. Contact us at info@digis3.eu