Businesses and organizations of every size face the growing threat of cyberattacks. According to the FBI’s 2020 Internet Crime Report, nearly 800,000 complaints of suspected internet crimes were filed, with reported losses from these crimes exceeding $4.2 billion. Threats of cyberattacks are also increasing due to current global conflicts.
Small and medium-sized businesses are targets for cybercriminals because they tend to lack the security infrastructure many of the largest corporations use to prevent attacks. Often these businesses and organizations do not have a dedicated IT department or enough time to handle their cybersecurity matters, while others do not know where to begin.
Learn the steps your company needs to take to assess your cybersecurity vulnerabilities, how the Russian war in Ukraine affects cyberattacks, and what you can do to improve your cybersecurity.
How to Stay Safe from Cybersecurity Threats
Cyberattacks are a growing concern for private companies of all sizes. You can protect your business by learning about common threats, assessing your cybersecurity vulnerabilities, and making necessary changes.
Understand the Most Common Threats
Although cyber threats continue to evolve, being aware of the most common cybersecurity vulnerabilities is essential for running your business.
- Phishing: this type of cyber attack uses malicious websites or emails to entice users to open an attachment or click on a link. The emails and websites contain malicious code that infects the device with malware once opened.
Phishing emails generally appear as though they are from a legitimate company or known entity to gain your trust. Once your device becomes infected, cybercriminals can collect sensitive information without your knowledge. Business email compromise is a common type of phishing threat.
- Malware: this threat uses software purposefully designed to damage a computer network, server, computer, or client. Malware may include ransomware or viruses within the software.
- Ransomware: this cyberattack is delivered through phishing emails. Ransomware is that infects your computer, restricting access to the device until your business pays the ransom demanded by the attackers. Vulnerabilities in software that are not corrected can also be exploited for ransomware attacks.
- Viruses: these harmful programs spread malware between computers and other devices connected to your network. Viruses are designed to give the cyber attacker access to your system and information.
Use the Right Tools to Assess Your Risk
Your business cannot improve its cybersecurity until you understand where the most significant risks lie. Fortunately, you can use assessment and planning tools to help you discover your vulnerabilities. These resources are also helpful for creating a plan of action to reduce future risks.
Vulnerability assessments are critical because cyber attackers automate their reconnaissance efforts. If you are not proactively scanning for weaknesses, you are already at a disadvantage.
Why These Assessments Matter
- Proactive Risk Reduction: Regularly assessing your systems helps you reduce your attack surface before adversaries can exploit any gaps, giving your business a crucial security advantage.
- Compliance Requirements: Many industry regulations and security frameworks require consistent vulnerability assessments to maintain compliance and avoid costly penalties.
- Operational Continuity: By identifying and addressing vulnerabilities early, you can prevent potential disruptions that might impact daily operations or revenue.
Taking the time to assess your cybersecurity risk is not just good practice, it is essential for staying ahead of evolving threats.
- Cyber Resilience: the Department of Homeland Security (DHS) has a free assessment tool to evaluate your business. Their Cyber Resilience Review assesses your current cybersecurity practices and operational resilience. This non-technical evaluation addresses current programs and policies, including incident management, risk management, and service continuity.
- Cyber Hygiene: the Cybersecurity and Infrastructure Security Agency (CISA) offers a vulnerability scan of your internet-connected systems. This automated service scans your network and delivers reports on vulnerabilities weekly.
- Cybersecurity Planning Tool: the Federal Communications Commission (FCC) helps small businesses create custom cybersecurity plans for their needs. It includes network security, email, privacy, and data security topics.
- Assess Supply Chain Management: cybersecurity risks can also develop through your supply chain. CISA’s risk management tool helps protect your information and communication technology from supply chain attacks through strategic messaging and resources to strengthen your company’s resilience.
These tools are helpful but should not be considered a substitute for a dedicated IT team or a cybersecurity consultant.
Vulnerability Assessment vs. Penetration Testing
It is common to wonder about the difference between a vulnerability assessment and penetration testing, since the terms are often used interchangeably, but they serve distinct purposes in keeping your business secure.
A vulnerability assessment is a comprehensive review that scans your systems to discover and prioritize potential weaknesses. Think of it as a broad health check for your IT environment, flagging possible risks so you can patch flaws before attackers find them. This process is typically automated and non-intrusive; it doesn’t attempt to exploit discovered vulnerabilities, but rather focuses on prevention and ongoing risk management.
On the other hand, penetration testing (or “pen testing”) goes a step further. In this exercise, security professionals simulate real-world attacks on your systems, intentionally trying to break through your defenses. The goal is to see whether existing vulnerabilities can actually be leveraged by attackers to gain access, similar to a “fire drill” for your cybersecurity.
In summary:
- Vulnerability assessments = finding and listing your risks, so you can address them.
- Penetration testing = safely exploiting those risks to demonstrate how they might be used by cybercriminals.
Both are vital tools, but they target different steps in a robust cybersecurity strategy. Vulnerability assessments help you spot the gaps, and penetration tests show you what happens if those gaps go unaddressed.
Cyber threats are constantly changing, and working with an experienced cybersecurity consulting firm like Windes ensures your business is protected and prepared.
How AI Can Improve Vulnerability Assessments
In today’s fast-paced threat landscape, artificial intelligence has become a powerful ally for businesses looking to stay ahead of cyber risks. Modern AI tools assist with vulnerability assessment in a few key ways:
- Spotting Patterns: AI algorithms can sift through vast amounts of security data, identifying unusual trends or suspicious behaviors that may indicate a new vulnerability before it becomes widespread.
- Predictive Risk Analysis: By analyzing historical attacks, AI can predict which vulnerabilities are most likely to be exploited, helping businesses prioritize patching and mitigation efforts.
- Real-Time Anomaly Detection: AI can monitor network activity around the clock, quickly flagging anything out of the ordinary, such as unauthorized access attempts or strange data transfers.
Solutions from industry leaders use these AI features to help organizations strengthen their defenses. Still, it is important to remember that while AI offers speed and efficiency, it works best when combined with human expertise. Security teams are essential for interpreting AI findings, responding to incidents, and fine-tuning strategies for your unique business needs.
Recognize Compliance Frameworks That Mandate Assessments
Various regulations require businesses to conduct vulnerability assessments as part of their security protocols. Frameworks such as HIPAA (Health Insurance Portability and Accountability Act), PCI DSS (Payment Card Industry Data Security Standard), and the NIST Cybersecurity Framework specifically outline the need for regular vulnerability testing. Similarly, businesses operating under GDPR (General Data Protection Regulation) in the EU are expected to routinely identify and address system weaknesses to protect sensitive data.
For those in the financial sector, GLBA (Gramm-Leach-Bliley Act) also calls for ongoing risk assessments and remediation measures. Staying compliant with these regulations can help your business avoid penalties, maintain customer trust, and strengthen overall security posture. Cyber threats are constantly changing, and working with an experienced cybersecurity consulting firm like Windes ensures your business is protected and prepared.
How to Prioritize Vulnerabilities After an Assessment
Once your assessment is complete and vulnerabilities are identified, the next step is to determine which ones need your attention first. Not every issue is equally urgent, and understanding where to focus resources will help you mitigate threats efficiently.
Consider the following aspects when deciding where to act:
Ease of Exploitation: How simple would it be for a cybercriminal to take advantage of this vulnerability? Flaws that are widely known or have existing exploits should move to the top of your list.
System Importance: Evaluate how critical the affected asset is to your business operations. Issues on public-facing servers, core databases, or payment processors generally deserve faster resolution than those on lower-priority internal machines.
Potential Impact: Think through what could happen if the vulnerability were abused. Would it allow access to sensitive data, disrupt operations, or cause financial loss?
Exposure Risks: Systems accessible from the internet or those that connect to third-party vendors often carry higher risks. Focus on these before less exposed resources.
For example, if you find a missing security patch on your primary customer portal, address it before a minor flaw in an isolated, non-essential workstation. Routine security reviews and retesting help ensure you’re staying ahead of emerging threats and not leaving significant risks unattended.
Prioritize and Address Vulnerabilities
After you have identified your business’s cybersecurity weaknesses, the next critical step is deciding what to fix first. Not every vulnerability is equally urgent, so it is important to take a thoughtful, practical approach.
- Evaluate the Risk Level: Focus your efforts on vulnerabilities that are most likely to be targeted and can cause the greatest harm. For example, unpatched public-facing servers or outdated software that attackers are actively exploiting should rise to the top of your list.
- Consider the Importance of Affected Assets: Systems that house sensitive customer data, financial information, or support essential business functions deserve extra attention. A vulnerability in these systems could have an outsized impact on your operations and reputation.
- Assess Potential Business Impact: Weigh the consequences if a particular weakness were exploited. Could it result in data theft, lost revenue, or significant downtime? Understanding this helps you address the most damaging issues first.
Once you have set your priorities:
- Patch and Update: Immediately apply security patches to critical systems, starting with those exposed to the internet.
- Mitigate Where Possible: If a patch isn’t available, put compensating controls in place, such as increased monitoring, network segmentation, or disabling affected features, to minimize risk.
- Document Your Actions: Keep a log of vulnerabilities found and actions taken. This supports future reviews and demonstrates your commitment to ongoing improvement.
Remember, managing vulnerabilities is not a one-time exercise. Regularly reassessing your risks and updating your responses will help ensure your business stays resilient as threats evolve.
Connecting Vulnerability Assessments and Incident Response
Understanding where your vulnerabilities lie is the foundation of a strong incident response plan. When you regularly assess your systems for weaknesses, whether through self-assessment tools or by engaging a cybersecurity consultant, you are not just checking off a box. You are creating an actionable map that guides your team if a security breach occurs.
Think of it this way: A thorough vulnerability assessment highlights the most likely entry points that attackers might exploit. With this information, you can build customized incident response playbooks that address these specific risks, streamlining your reaction time if something goes wrong. After an incident, conducting a post-event analysis can reveal whether your initial assessments were accurate and whether your response plans targeted the real issues, helping you refine your processes for the future. This cycle of assessment, planning, and improvement is key to staying ahead of evolving cyber threats.
How Vulnerability Assessment and Threat Intelligence Work Together
Vulnerability assessment and threat intelligence are two distinct but deeply connected components of a robust cybersecurity strategy. A vulnerability assessment pinpoints weaknesses in your systems, software, and business processes, showing you where attackers could potentially slip through the cracks.
Threat intelligence, on the other hand, adds valuable real-world context. It keeps you informed about the latest cybercriminal tactics, current attack campaigns, and specific vulnerabilities that are being actively targeted. By combining both, you’re able to prioritize which weaknesses demand immediate attention, especially when intelligence shows certain flaws are already being exploited.
For example, if a vulnerability assessment reveals outdated software, and threat intelligence reports that this very software version is under attack by ransomware groups, it becomes clear which patches and protections should shift to the top of your to-do list. This collaborative approach ensures limited resources are used where the risk is highest, making your business less attractive to would-be attackers.
Schedule Regular OT Vulnerability Assessments
Operational Technology (OT) systems play a critical role in many businesses, especially in sectors like manufacturing, utilities, and logistics. To maintain strong cybersecurity, it is important to conduct regular vulnerability assessments of your OT environment.
How often should these assessments happen? In general, it is best practice to perform a full OT vulnerability assessment at least annually. However, consider increasing the frequency to semi-annual or even quarterly reviews if your organization:
- Has recently implemented significant changes to OT systems or networks
- Operates in a highly regulated industry
- Has previously encountered cyber incidents or near-misses
- Relies on aging infrastructure
Beyond scheduled assessments, always conduct a targeted review after major upgrades, new integrations, or incidents. The National Institute of Standards and Technology (NIST) and the Cybersecurity & Infrastructure Security Agency (CISA) both recommend routine OT assessments, as these environments frequently fall outside traditional IT security reviews and are increasingly targeted by cybercriminals.
By making these evaluations a regular part of your cybersecurity routine, you’ll help identify weaknesses before they’re exploited, ensuring your essential systems remain protected and resilient.
Web Application Vulnerability Assessments
Web application vulnerability assessments are a critical aspect of strengthening your business’s cybersecurity. These evaluations focus on identifying gaps in web-based platforms, such as online portals or cloud services, where sensitive data could be exposed to cybercriminals.
Common vulnerabilities targeted in these assessments include:
- SQL Injection: Attackers exploit insecure data entry fields to access or manipulate your database.
- Cross-Site Scripting (XSS): Malicious code is inserted into websites to target unsuspecting users, potentially stealing login information or personal data.
- Broken Access Controls: Inadequately managed permissions could allow unauthorized users to access protected resources.
- Insecure API Endpoints: Flaws in how applications communicate can open doors to attackers if not properly secured.
To identify and address these weaknesses, tools like OWASP ZAP and Burp Suite, together with thorough manual code reviews, are often used. Incorporating regular web application checks helps ensure your business’s online presence remains a fortress rather than an open door.
Mobile Application Vulnerability Assessments
Securing mobile applications requires a distinct approach compared to traditional software, simply because mobile apps operate in more unpredictable environments and face frequent updates or delayed patches. A mobile application vulnerability assessment evaluates your app to identify security gaps that could leave your business exposed.
Several challenges are unique to securing mobile apps:
Irregular Patching Schedules: Updates for mobile apps can be inconsistent, which means vulnerabilities may persist longer and give attackers more opportunity.
Device Diversity: With a wide mix of devices, operating systems, and user configurations, the security landscape is more fragmented than with standard desktop environments.
Exposure to Specific Threats: Mobile apps are prone to issues like insecure data storage, weak encryption, poor session management, and risks from reverse engineering, making it easier for attackers to access sensitive information or manipulate the app.
To address these risks, security experts often use dedicated mobile security testing frameworks such as MobSF and Drozer. These tools provide a comprehensive assessment, simulating real-world attacks to uncover vulnerabilities before cybercriminals can take advantage.
Identifying and addressing these unique mobile threats is critical if your organization develops or relies on mobile applications.
Implement Cybersecurity Practices
Lower your risk of cyber threats by following best practices in your business.
- Protect and Backup Business Data: regularly backing up critical data from all computers to the cloud or offsite prevents your business from losing important information during a cyberattack. Include databases, financial information, accounts receivable and payable, human resource files, and all documents and spreadsheets through automatic or weekly backups.
- Train your employees: cyberattacks via email are among the easiest ways for criminals to access your network. Teaching your employees how to identify a phishing email, create strong passwords, avoid suspicious downloads, and protect vendor and customer information helps prevent cyberattacks.
- Secure your network: use a firewall and encrypt your information to help secure your internet connection. Consider hiding your Wi-Fi network by using a router or wireless access point that is password-protected.
Increased Risks Due to the Russian Conflict
While the Russian invasion of Ukraine is happening far from U.S. soil, American companies are also at risk. The FBI recently called on businesses to prepare for more Russian-sponsored cyberattacks as tensions rise in Europe.
U.S. actions against Russia to deter their military action in Ukraine include implementing sanctions and limiting their access to international banking. There is concern that Russia will respond to these measures by increasing state-sponsored cyberattacks on U.S. companies.
Small and medium-sized businesses are just as vulnerable as major, well-known corporations. International cybercriminals will exploit any infrastructure vulnerabilities they can to access sensitive information useful to their means. Current cyberattack strategies aim to influence and destabilize the country through disinformation campaigns and to promote doubts about the country’s current government leadership.
The risk of cyberattacks may grow as the Russia-Ukraine conflict continues. To ensure you protect your company from this rising threat, consider working with an outside firm that can provide comprehensive cybersecurity services.
Protect Your Business from Cybersecurity Threats
Windes understands that your business may not have the time or resources to address cybersecurity vulnerabilities and threats. To help protect your business against cyberattacks, we offer comprehensive cybersecurity services that can assess, manage, and respond to threats. We have the resources to monitor your network regularly and prevent cybercrimes.
Contact us for a free cyber health check to learn how our team can help you prepare and protect your business from cyberattacks.