Cybersecurity is undoubtedly the most important framework a business must implement to protect its network and digital data, regardless of its size or location. Scammers, hackers, and other malicious actors constantly scour the internet for the opportunity to gain unauthorized access to valuable information that can put money in their pockets and destroy their victims financially, socially, and in various other ways.

As the digital landscape continues to grow and technology continues to advance, so do the techniques cybercriminals use to compromise networks and intercept data. Let’s look at some of the most common and current cybersecurity threats that your business in Florida should protect against.

Phishing Attacks

“Phishing” is a type of cybersecurity threat in which cybercriminals present themselves as a reliable source, often in the form of an email, and ask the recipient to provide sensitive information, download malware, or take another action that leaves them vulnerable to cybercrime. The goal is for the victim to take the bait and perform whatever action the criminal hopes for.

For example, if an attacker knows their target uses a particular bank, the attacker could create a fake email address using the bank’s name to send a believable email message to the target. The email would likely include an urgent or enticing request, such as:

  • You’ve been selected to receive a $100 credit! Follow this link to redeem a loyal customer reward!
  • Your account will be deactivated if you do not take action! Follow this link to activate your account!
  • Your account has been compromised! Follow this link to change your password and protect your data!

Should the target click or tap the link, they will be taken to a phishing website that likely has a somewhat believable URL and the bank’s branding elements, such as its name and logo, to help promote trustworthiness. The website will definitely include a place to “log in” with the target’s username and password.

If everything goes according to the attacker’s plan, the target would submit their information, which would go straight to the attacker, who could then use the information to log into their new victim’s real online bank account.

Phishing is a type of social engineering scam that relies on emotional and mental manipulation, and it is the most common cybercrime tactic out there because it works. Even the most skeptical and cautious person can fall victim to a phishing attack if the criminal applies enough pressure or pulls at the right heartstrings.

The reported number of phishing attacks in 2022 exceeded 500 million. In 2023, it was reported that the average cost of a phishing-related data breach was $4.7 million.

Malware Attacks

Man sitting at his desk with his head in his hands - his computer monitors display a notification that says "system hacked"

Malware is defined as malicious software that is designed to damage a computer, server, network, or network infrastructure. The most common reason cybercriminals rely on malware is because it allows them to extract crucial and confidential data from the user or their entire company.

There are many ways a user can intentionally or unintentionally install malware on their endpoint device (PC, laptop, tablet, etc.), including:

  • Downloading an infected program from a malicious website
  • Opening an infected attachment or clicking on a malicious link from an email
  • Connecting an infected USB drive or other external hardware to your computer
  • Suffering a drive-by download where malicious software is automatically installed from a malicious website without the user ever taking action to click on a bad link

In many attacks, the user is unaware that malware has been installed on their device, especially if their network and endpoints are unsecured or under-secured.

Four of the most well-known types of malware include:

  • Viruses—Downloaded viruses infect files and programs on a single computer. If an infected file is sent to another computer, the virus can infiltrate the new computer and infect more files, ultimately spreading from device to device. Viruses can only spread through human interaction.
  • Worms—A worm is a type of malware that can replicate and spread through file sharing, just like viruses. However, worms can also spread on their own through unsecured protocols, shared access points in a network, and unpatched vulnerabilities in any operating system.
  • Trojans—A trojan is difficult to detect because it can present like a reliable, legitimate software program and often works behind the scenes without the end user realizing it’s there. One common use for trojans is to set the computer’s system up to receive more malware.
  • Ransomware—Ransomware has become an increasingly popular form of malware for cybercriminals to use as it holds critical information or crucial operating systems for ransom until the victim pays for the information to be released or the systems to be restored. Ransomware attacks are on the rise for government entities, big corporations, and even small and mid-sized businesses because receiving ransom money can be so lucrative for the criminals behind the attacks.

Man-in-the-Middle Attacks

In cybersecurity, a man-in-the-middle (MITM) attack occurs when a malicious actor positions themselves between an unsuspecting user and the web application the user wants to engage with. The user has no idea the perpetrator is there impersonating the application to obtain critical and confidential information.

Typically, MITM perpetrators target those who use:

  • Financial applications
  • Software as a Service (SaaS)
  • Ecommerce sites
  • Any site that requires logging in

There are two main phases of an MITM attack: the interception phase and the decryption phase.

Interception

The most common way a malicious actor can begin an MITM attack is by creating a malicious WiFi hotspot in a public location that anyone can connect to. If a user selects the network, the perpetrator gains access to their online activities and data exchanges.

Additional interception methods include:

  • IP spoofing
  • ARP spoofing
  • DNS spoofing

Through spoofing techniques, the attacker can present like a legitimate web address or infiltrate a legitimate server to intercept any of the data sent to the legitimate website.

Decryption

Once the perpetrator has access to the user’s data exchanges, they must decrypt any two-way SSL traffic without drawing attention. Through successful HTTPS spoofing, SSL hijacking, SSL stripping, or other methods, the criminal is able to interfere with the communication between the user and the application without being detected.

Depending on the information gathered from the user, the perpetrator could be positioned to commit:

  • Identity theft
  • Monetary theft
  • Account hijacking
  • Network infiltration

And many other actions or crimes.

Phishing, malware attacks, and MITM attacks only scratch the surface of common cybersecurity threats for your Florida business. Protect yourself against them all with Managed IT Services from MHD.

Cybercrime is only getting more sophisticated and harder to detect without the proper protections in place. Safeguard yourself, your team, and your network with solid managed IT solutions from the cybersecurity experts at MHD. We serve small and mid-sized Florida businesses in Tampa, Palm Beach, and surrounding areas with the IT services and cybersecurity services needed to catch and stop suspicious behavior before it can devastate what you have built.

To learn more about our IT services and security solutions for your Florida business, contact an MHD specialist today: 833-MHD-INFO (833-643-4636)

MHD is your premier IT partner, serving businesses in and around Tampa, Florida, and West Palm Beach, Florida.