Recent cybersecurity statistics reveal that the worldwide information security market was worth around $170 billion in 2020. This included spending on cyber security products and services, as well as cyber liability insurance. The reason for this large amount of cybersecurity spending is due to hackers becoming more sophisticated, and constantly finding new ways to damage websites and businesses.
In fact, global cybercrime costs reached $600 billion by 2021, up from $445 billion in 2018. This included the cost of lost data, stolen money, and damaged equipment. SME cyber attacks (link to Article: How vulnerable are SMEs to cyber attacks?) are particularly alarming, with 60% of SMEs experiencing a breach in 2017. This is due to the fact that they often lack sound security and business advice from experts or the resources to properly protect their systems.
Damages Hacker Can Cause to your Website
You may have heard about the dangers of hackers and the havoc they can wreak on an unprotected website. But what are the specific damages that can be caused? As a business owner, it is important to be aware of the dangers hackers pose so you can take steps to protect your site. In the rest of the article, we will list ten of the most common damages that can occur when a hacker accesses your site. Be sure to read through them so you can better protect your website from these harmful individuals!
#1: Virtual and Physical Damages
Cyber attack damages can include any or all of the following: the destruction of data, theft of data, interruption of service, and unauthorized access to systems. Cyber attacks can also result in physical damage to equipment, such as servers being fried.
#2: Theft of Intellectual Property
Theft of intellectual property is a serious problem for businesses large and small. Hackers can steal trade secrets, customer lists, product designs, and copyrighted material. This type of theft can be devastating to a company’s bottom line and reputation.
#3: Leak of Sensitive Information
Data breaches are becoming more common as hackers become more sophisticated. A data breach can expose sensitive information, such as customer credit card numbers, personal information, passwords, and more to the public. This can damage a company’s reputation and lead to costly lawsuits and fines.
#4: Steal Sensitive Information
Hackers can steal sensitive information via several methods such as phishing and man-in-the-middle attacks. A man-in-the-middle attack is when a hacker intercepts communications between two parties on a website in order to eavesdrop or tamper with sensitive data. This can allow the attacker to steal sensitive information or inject malware. Phishing attacks are another type of cyber attack that can damage your business. In a phishing attack, hackers send emails that appear to be from a legitimate website in an attempt to trick people into giving them sensitive information. This information can then be used to steal money or commit identity theft.
#5: Access and Disruptions to Website’s Backend Systems
Security breaches can occur when hackers gain access to your website’s backend systems. A security breach usually gives hackers the ability to change website content, and delete data. They can also deface your site. This means they can change the appearance of your site, usually by adding offensive or pornographic images. They can also change the look and feel of your site to reflect their own message or goals.
#6: Repercussions from Breach of Control Systems
Control systems are often targeted by hackers because they provide access to critical infrastructures, such as power plants and water treatment facilities. A breach of these systems can lead to a loss of life or major property damage.
#7: Plant Malicious Software on your Website and Servers
Hackers can install malicious software on your site, which can then be distributed to visitors who access your site. This can include viruses, worms, and Trojans. This malicious software, also known as malware, can do a number of things, including stealing information, launching attacks on other systems, wreaking havoc on your servers and destroying data.
#8: Theft of Personal and Financial Information from Websites and Computer Systems
Any website and computer system, in general, is at risk from hackers. In addition to causing damage, hackers can also steal personal information, such as social security numbers, bank account information, customer data or proprietary company information. Some common attacks hackers perform to steal personal and financial information including cookie theft, SQL injection and cross-site scripting (XSS) attacks. Cookie theft attacks occur when a hacker steals cookies from a user’s browser in order to gain access to their account on a website. This can allow the attacker to perform actions on the account, such as making purchases or changing passwords. SQL injection attacks occur when a hacker inserts malicious code into a database via an input field on a web page. This can allow them to access sensitive information, such as passwords and credit card numbers. XSS attacks occur when a hacker injects malicious code into a web page that is then executed by the browser of an unsuspecting user who visits the page. This can allow the attacker to steal information or infect the visitor’s machine with malware.
#9: Deletion of Content
Hackers can delete all your content once they gain access to your website. This is probably the most common damage that hackers do. They can also delete your backups, so you have no way to recover your content.
#10: Overload your Site with Unnecessary Traffic
A distributed denial-of-service (DDoS) attack is when a hacker overloads your server with traffic in an attempt to take it down. These attacks can be devastating to businesses because they cause the site to crash and prevent legitimate users and customers from accessing it. This can disrupt your business and cost you money in lost revenue. In addition, DDoS attacks can cost thousands of dollars to fix.
Closing Thoughts
As you can see, hackers can cause a lot of damage to your business. It is important to be aware of the risks and take steps to protect your website. If you need help, consider hiring a cybersecurity consulting firm to assess your needs and provide advice on how to best secure your site.