10 types of security risk and how to safeguard your SME

Criminals are after your data. Whether sold on the dark web or used in scams, data is valuable. Worse yet, they are sharpening their social engineering skills, making their attacks more convincing than ever.

Small businesses are particularly vulnerable because they often lack the advanced security infrastructure needed to fend off threats. It's time for businesses of all sizes to prioritise their cybersecurity.

Here are 10 major cybersecurity risks you should be aware of, and practical ways to keep your business safe:

1. Insider threats

It sounds like something out of a spy thriller, but insider threats are very real. Employees or third-party contractors with have access to your systems may misuse their privileges, sometimes unintentionally, sometimes not.

Protect your business:

• Give users access only to what they need, to do their jobs.
  
• Monitor and audit user activity.
  
• Have strict offboarding policies when staff exit the business.

2. Malware

Malicious software such as viruses, worms, and trojans can infiltrate devices and networks, compromising functionality and stealing data. SMEs are especially vulnerable as they may not have advanced anti-malware systems in place, which could result in costly downtime and data loss.

Protect your business:

• Install and update trusted antivirus software.
  
• Train staff not to click on unknown links or download suspicious files.
  
• Regularly scan devices and networks for infections.
  
• Choose your web hosting provider carefully.

3. Phishing

Phishing is fake emails that, amongst many other tactics, usually mimic trusted brands to trick people into revealing sensitive info or download malware. They’re getting more sophisticated too, making it difficult to spot.

Without proper training or awareness, SME staff are often easy targets, opening the door to data breaches and financial fraud.

Protect your business:

• Educate staff on how to recognise fake emails.
  
• Avoid clicking links or downloading unexpected attachments.
  
• Use email filters to block suspicious messages.

4. DDoS attacks

A distributed denial of service (DDoS) attack floods your site with traffic until it crashes. It can lead to downtime, lost revenue, and reputational damage. For businesses that rely on online platforms to serve customers, even short periods of downtime can lead to lost revenue and a damaged reputation.

Protect your business:

• Invest in firewall and DDoS mitigation tools.
  
• Monitor traffic for unusual spikes.
  
• Choose a reputable web hosting provider that includes DDoS protection.

5. Ransomware

Ransomware is a type of malware but the goal is to lock your data and demand payment to release it. Even worse? Paying doesn’t guarantee you’ll get your data back. Businesses that lack reliable backups or quick recovery plans, are more likely to pay the ransom and usually do not have their data restored, thus potentially encouraging further attacks and draining critical resources.

Protect your business:

• Back up data frequently (and store it securely).
  
• Avoid opening unknown attachments or links.
  
• Use endpoint protection to detect threats early.

6. Outdated software

Using old or unpatched software leaves systems exposed to known vulnerabilities that hackers can easily exploit. Businesses that postpone updates due to cost or time constraints, unintentionally create entry points for cybercriminals.

Protect your business:

• Always install updates and patches.
  
• Enable auto-updates or host with a provider that does this for you – like Domains.co.za’s WordPress Hosting.
  
• Perform routine audits to ensure everything’s up to date.

7. Weak passwords

Yes, remembering a zillion passwords is annoying. But weak or reused passwords make life easy for hackers. Businesses that lack strict password policies put everything from email to financial records at risk.

Protect your business:

• Use strong, unique passwords (or a password manager like 1Password).
  
• Turn on multi-factor authentication (MFA).
  
• Change passwords regularly and never reuse old ones.

8. Domain hijacking

This occurs when attackers gain control of your domain name. Losing control of a domain not only means loss of access to emails and the website, but hackers can also reroute traffic, steal data, or impersonate your brand. It’s a nightmare scenario for any business.

Protect your business:

• Use strong passwords and enable MFA on your domain registrar account.
  
• Lock your domain to stop unauthorised transfers.
  
• Choose a registrar with strong security features, like WHOIS Privacy.
  
• Monitor domain changes and renew it early.
  
• Keep your domain contact info updated.

Did you know? Domains.co.za includes free Domain Transfer Lock for all .za domains (.co.za, .org.za, .net.za, .web.za) to help prevent unauthorised transfers.

9. SQL injections

Attackers can exploit unprotected website forms to access or corrupt a database, sometimes even delete everything. Companies with poorly protected websites are especially vulnerable, and a successful attack can result in stolen customer information or total site compromise.

Protect your business:

• Validate user input and use web application firewalls.
  
• Keep your website and any plugins updated.
  
• Regularly audit your site for vulnerabilities.

10. Unsecured Wi-Fi

Hackers can slip in through weak Wi-Fi networks, especially if a business is using default router settings or outdated encryption. Operating on a Wi-Fi network without encryption or strong passwords allows nearby cybercriminals to intercept data or plant malware on connected devices.

Protect your business:

• Use strong passwords and WPA3 encryption.
  
• Set up a separate guest Wi-Fi network.
  
• Keep routers updated and turn off remote access.
  
• Avoid public Wi-Fi for work unless you're using a VPN.

Cybersecurity isn’t a one-and-done thing. Stay up to date with the latest trends to protect your business.