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Ensuring Business Security: Safeguarding Against Password Theft

09 February, 2021

Internet security has been a concern since its early days, with vulnerabilities leading to password theft and potential breaches. In the past, security measures like certificates and proper computer identification were lacking, making passwords susceptible to theft. Even banking systems were vulnerable. Fortunately, the limited number of tech-savvy criminals mitigated the risk of significant meltdowns. However, modern-day hackers could have caused extensive damage back then.

Over time, we have witnessed significant cases of password and identity theft, exemplified by the PSN incident involving Sony. Thousands of users had their credit card information, passwords, and personal data compromised by Chinese hackers. This breach could have been prevented if Sony had implemented two-step authentication (2FA) and better security protocols.

Server attacks, which are difficult to execute when servers are properly secured, often involve brute force attacks or exploiting undiscovered vulnerabilities. Smart businesses ensure their front doors are robust and their windows are locked to deter unauthorized access.

However, most password and identity theft occurs through other means. The internet can be likened to a city with safer neighborhoods, questionable areas, and places one should avoid entirely. Let’s explore the risks associated with these neighborhoods.

Methods Used by Hackers to Steal Passwords and Personal Information

Phishing remains one of the most common cyberattacks for stealing passwords and valuable data. Hackers send out emails containing malicious links, directing users to fake websites and tricking them into divulging private information.

Once hackers obtain this information, they attempt to break into business and personal accounts, potentially leading to data theft or loss of access.

SSL and HTTPS are security measures that provide certificate management to prevent unauthorized devices from connecting to your account. They use strong ciphers to prevent intercepted data packets from being deciphered. This can be compared to allowing only authorized phones to connect and encrypting the conversation to thwart wiretaps.

Unfortunately, individuals often access sensitive information over public Wi-Fi, which can be highly risky even with SSL enabled. Malicious actors can intercept Wi-Fi transmissions, gather passwords, personal data, and even gain access to devices, leading to serious consequences.

Weak security measures on computers or laptops also pose a threat. Without Windows Defender or an equivalent third-party software running in strict mode, malicious executables can run in the background, logging keystrokes, spying on browsers, and accessing cache data.

Understanding Your Digital Environment

As a user, your first line of defense against password and identity theft is to ensure that you only enter passwords and personal information on websites with proper security measures in place. Currently, 2FA logins offer the highest level of safety. Additionally, avoid entering private information while connected to public Wi-Fi, including on mobile devices.

When using business devices, it is advisable to avoid lesser-known sites, such as aggregate or fan-based websites. If you choose to make purchases on non-commercial sites, ensure the transaction occurs in a secure and insured environment.

Lastly, when in a work setting, it is important to avoid accessing the dark web entirely.

What to Do If Compromised

If you suspect your information has been compromised, immediately report it to your IT department or Managed Service Provider. Back up your hard drives if possible and report stolen credit cards to your bank. Promptly contest any fraudulent transactions you discover on your accounts.

Once your system is up and running, change the passwords for all of your accounts, and consider changing your mobile phone number, as hackers can sell that information as well.

Ultimately, identity and password theft often stem from user error. Employees may lack proper security knowledge and exhibit excessive trust. It is crucial to educate everyone in your office about password hygiene and basic security protocols. They need to understand internet safety rules and exercise caution when encountering unknown individuals.

While security and privacy concerns persist, being vigilant and adhering to preventive measures can help you navigate these challenges. Contact us today to ensure the protection of your data, passwords, and privacy.

09 February, 2021