With more SMBs being targeted by malware-based cyber attacks, it is critical to take action today so you can protect your business.
5 Mins
2nd April 2024
Article
SMB, Cyber security, Digitalisation, Business Launch & Operations
The frequency at which businesses get targeted by cyber attacks is increasing all the time. The level of sophistication seen in cyber attacks is also rising, and it is becoming harder for businesses to detect and mitigate these threats.. A recent Kaspersky study showed that 50 malware files masked as business applications were distributed to Singapore SMBs in the first half of 2023, which resulted in 452 attacks, a three-fold increase from the previous year's 112.
As malware threats surge, SMBs must proactively fortify their defences to prevent potential damage to their businesses. What action can be taken today to prevent such malware attacks?
Detecting and preventing malware attacks require a meticulous approach, especially when it comes to verifying the source and legitimacy of business applications. Malicious actors often exploit the guise of legitimate software, and caution should be exercised before installation.
First and foremost, SMB owners should source their business applications from reputable and official channels. This includes obtaining software from the official websites of developers or trusted app stores. Steering clear of unverified third-party platforms is crucial, as these pose a heightened risk of malware infiltration.
Before proceeding with installation, do a quick check on the developer or company responsible for the application. Look at available information, such as reviews, ratings, and user feedback, to gain insights into the legitimacy and reliability of the software. Platforms like app stores often host user reviews, offering a valuable perspective on the performance and security of the application.
It can also be useful to look for digital signatures. Legitimate applications typically come equipped with verifiable digital signatures, serving as a cryptographic stamp of authenticity.
You can go one step further and invest in robust security solutions that cater to businesses. These solutions stand as the first line of defence, safeguarding individual devices connected to your corporate network. Here are some solutions and capabilities to look for:
Singtel offers a comprehensive set of Endpoint Security solutions that protects all your business’ endpoints including desktops and mobile devices, by analysing malicious behaviour in apps while offering real-time threat and data protection.
Educating employees about the nuances of malware-based cyber attacks is also key in protecting your business. Often it is an unsuspecting employee who downloads what looks like a legitimate application, only to realise later that it contained malware.
As a basic step, you should mandate your employees to adopt strong passwords and Multi-Factor Authentication (MFA) for their email accounts and critical business apps. Additionally, train your employees to follow the same standard processes to verify the legitimacy of applications – from looking for official sources, checking reviews and looking for digital signatures. It can be helpful to encourage them to take part in cyber security workshops which simulate phishing scenarios and provide insights to help them stay up to date with the latest malware threats.
Last but not the least, you should also establish some standard incident reporting protocols to make it easier to take action in a timely manner once a malware threat is detected. By promptly reporting incidents, employees contribute to the swift identification and mitigation of potential threats.
To help your business combat malware, Singtel offers Business Protect Basic, an end-to-end malware protection solution. It uses machine learning to detect and defend against threats, while also protecting your employees’ devices and data.
SMB, Digitalisation
SMB, Digitalisation, Connectivity
SMB, Cyber security, Digitalisation, Business Launch & Operations
SMB, Cyber security, Digitalisation, Business Launch & Operations
SMB, Cyber security, Digitalisation, Business Launch & Operations
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