October 30, 2024

Protect Your Business from Internal and External Cyber Threats

Managed IT Services

Cybersecurity

6

Minutes to read

Internal and external threats can compromise your business's security. Learn how to spot red flags, prevent phishing attacks, and strengthen your IT defenses.

Cybersecurity is no longer just about protecting against external attacks. Your business could also face significant risks from within — whether through employee negligence, unauthorized access, or intentional sabotage.

Additionally, phishing attacks are becoming increasingly sophisticated, making it harder to spot the difference between legitimate communication and a scam.  

Let’s explore the most common internal threats, the increasing sophistication of phishing attacks, and the proactive steps you can take to protect your business. By identifying early warning signs and strengthening your IT defenses, you can stay ahead of potential security breaches.

Common Internal Threats

There are various types of insider threats, each with its own risks. Here are some of the most common threats:

  • Data theft
  • Sabotage
  • Unauthorized access
  • Negligence and error
  • Credential sharing

Data Theft

Data theft happens when an employee or someone in your organization downloads or leaks sensitive data for personal gain or malicious purposes. Physically stealing company devices containing privileged information or digitally copying them are both considered data theft.  

Sabotage

Sabotage occurs when a disgruntled employee, an activist, or somebody working for your competitor deliberately damages or disrupts your organization by deleting important files, infecting its devices, or locking your business out of crucial systems by changing passwords.  

Unauthorized Access

Unauthorized access is a security breach when malicious actors, such as hackers or disgruntled employees, gain access to business-critical information. However, individuals can mistakenly access sensitive data unknowingly, too.

Negligence and Error

Both negligence and error lead to insider threats that can pose a security risk. While errors can be reduced through training, dealing with negligence requires a stricter level of enforcement.

Credential Sharing

Think of credential sharing as handing over the keys to your house to a friend. You can’t predict what they will do with it. Sharing your confidential password with colleagues or friends creates many possibilities, including an increased risk of exposing your business to a cyberattack.

“Credential sharing is one of the most common and unintended threats. Businesses think they’re gaining efficiency but are actually unknowingly increasing their threat surface."

“Credential sharing is one of the most common and unintended threats,” said Matt Cooke, Director of IT Operations at Clearview Group. “Businesses think they’re gaining efficiency but are actually unknowingly increasing their threat surface. We help clients analyze purpose and goals, then align a solution with IT best practices.”

While internal threats are a significant concern, external attacks, especially phishing scams, present an equally dangerous threat that directly targets your employees. These attacks often capitalize on human error and can easily bypass even the most advanced internal defenses.

Let's explore how phishing attacks target organizations.

Types of Phishing Attacks

Modern phishing attacks have become highly complicated, making them difficult to detect. Cybercriminals now use advanced techniques, like AI, to create emails, websites, and messages that closely mimic legitimate communications from trusted sources.

Most phishing attempts today look authentic, using logos, branding, and language that resemble reputable companies or people. This level of deception means that even well-trained individuals can fall victim to cleverly disguised phishing attempts.

Phishing scams come in various forms, each exploiting different vulnerabilities. The most common types of phishing scams are:

  • Email phishing
  • Spear phishing
  • Whaling
  • Smishing
  • Wishing
  • Clone phishing
  • QR code phishing

Email Phishing

Email phishing is the most common type of phishing. In this type of phishing, cybercriminals send emails that appear to be from legitimate sources, such as banks or well-known companies. These emails often contain links to fake websites, which they use to steal sensitive information.

“We worked with a client who fell victim to an email phishing scam. The email appeared to be from a trusted source when, in fact, it contained a link to a fake website that looked identical to the legitimate one. The client entered their login credentials, which the scammers then stole,” said Cooke.

“Our team at Clearview took immediate action, updating their account security, educating the client, and providing ongoing support. By taking these steps, we were able to help the client recover from the phishing scam and improve their overall security posture.”

“Our team at Clearview took immediate action, updating their account security, educating the client, and providing ongoing support. By taking these steps, we were able to help the client recover from the phishing scam and improve their overall security posture.”

Spear Phishing

Spear phishing targets specific individuals or organizations. Attackers gather information about their targets to create personalized and convincing messages, making it particularly dangerous since it can bypass traditional security measures.

Whaling

Whaling is a type of spear phishing that targets high-profile individuals like CEOs or executives. The goal is to trick these individuals into revealing sensitive information or authorizing financial transactions.

Smishing

Smishing is a social engineering attack that involves sending phishing messages via SMS or text. These messages often contain links to malicious websites or ask recipients to call a phone number, prompting them to provide personal information.

Vishing

Vishing involves phone calls from attackers posing as legitimate entities, like banks or tech support, asking for sensitive information over the phone.

Clone Phishing

During a clone phishing attack, attackers duplicate a legitimate email you’ve previously received, replacing links or attachments with malicious ones. This tactic exploits trust, making it hard to differentiate fake email from genuine communication.

QR Code Phishing

Cybercriminals use QR codes to direct victims to malicious websites. These codes often appear on flyers, posters, or email attachments. When scanned, the QR codes take you to a phishing site.

How to Spot IT Red Flags

Now that we've explored internal and external threats, it's vital to recognize early warning signs within your organization. Spotting red flags before they escalate can make all the difference in preventing a costly security breach.

Here are some of the signs your business needs to keep an eye out for:

  • Unusual access patterns: An employee suddenly begins accessing confidential company information irrelevant to their job.
  • Excessive data transfers: An employee suddenly starts downloading a large volume of customer data and transfers it onto a memory stick.
  • Authorization requests: Someone repeatedly requests access to business-critical information even though their job role doesn’t require it.
  • Use of unapproved devices: Accessing confidential data using personal laptops or devices.
  • Disabling security tools: Someone from your organization disables their antivirus or firewall.  
  • Behavioral changes: An employee exhibits abnormal behaviors, such as suddenly missing deadlines or exhibiting signs of extreme stress.

By identifying these red flags, your team can prevent small issues from becoming larger security threats. Awareness is critical to protecting your organization.

How to Improve Your IT Defenses

Having recognized the dangers posed by internal red flags and phishing attacks, it’s time to fortify your defenses. Building a strong IT security framework is essential to minimizing risks and safeguarding sensitive data.

To safeguard your business and improve your defenses, follow these steps:

  1. Train employees regularly to recognize the latest phishing attempts and conduct simulated exercises.
  2. Implement advanced email filtering solutions to detect and block phishing emails.
  3. Use multi-factor authentication (MFA) on all accounts and implement a strong password policy.
  4. Keep software and systems up to date with the latest security patches.
  5. Utilize firewalls, antivirus software, and intrusion detection systems to protect against unauthorized access.
  6. Back up your important data regularly to ensure you can recover from a data loss incident.
  7. Ensure employees can only access data and systems needed for their roles. Also, regularly review and update access privileges.
  8. Develop a comprehensive incident response plan that lays out the plan of action for responding to insider threat incidents.

Strengthening your IT defenses is an ongoing process. With the right strategies, you can avoid threats and safeguard your business from future risks.

However, protecting your business from cyber threats can feel overwhelming, especially if you have to do it alone – that’s why you need an experienced partner. An IT service provider can help you implement comprehensive security measures. Let’s safeguard your business from the inside out.

Get started with a free IT consultation.

Matt Cooke
Director
Latest Articles

Protect Your Business from Internal and External Cyber Threats

READ MORE

State and Local Tax Update: North Carolina Announces 2025 Property Revaluations

READ MORE

How to Create a Lasting Enterprise Risk Management Program

READ MORE

See what a relationship with Clearview can do for your business.

We are a full-service management consulting and CPA firm covering all aspects of audit, compliance, risk management, accounting, finance, tax, IT risk, and more. Just let us know what you need help with and an expert will be in touch!

Request Your Consultation