Here’s a concerning fact: 94% of small- to medium-sized businesses (SMBs) have experienced at least one cyberattack. According to The State of SMB Cybersecurity in 2024 report by software company ConnectWise, this is a dramatic increase from 2019’s 64%.
One of the biggest reasons behind this is the fact that SMBs are struggling to keep up with today’s rapidly evolving threat landscape, particularly in addressing emerging network security vulnerabilities.
In this blog, we will discuss what network security vulnerabilities are, common types you need to look out for, and how you can protect your business from them.
Network security vulnerabilities (also known as network vulnerabilities) are flaws or weaknesses in software, hardware, or organizational processes. Cybercriminals can exploit vulnerabilities to gain unauthorized system access, allowing them to steal sensitive data or cause network disruptions.
One prime example was the supply chain attack that affected SolarWinds, a software company. Back in September 2019, attackers infiltrated the SolarWinds network and inserted malicious code into updates for the Orion platform.
SolarWinds unknowingly distributed the hacked software update to its customers, allowing the hackers to gain access to the networks of thousands of organizations globally. The attack served as an important reminder for the need for robust cybersecurity measures and the huge impact of unaddressed network vulnerabilities.
Network vulnerabilities take several forms, which include:
Updates for software applications don’t just come with the latest features and improvements, but they also typically include security patches that can address software vulnerabilities.
By not updating your tools regularly, cybercriminals can more easily exploit software flaws and gain unauthorized access to your systems. As a result, they can introduce malware (e.g., viruses, ransomware, worms, Trojan horses) that can corrupt or steal your data. This can result in severe consequences like reputational damage, financial losses, and legal ramifications.
While your business might use a firewall to protect your systems from unauthorized network access, you need to make sure that it’s correctly configured.
For example, your network can become more exposed to cyberthreats if you have overly permissive rules that allow too much traffic through the firewall. The same applies if you don’t regularly update your firewall’s firmware, fail to segment your network, or don't review logs constantly.
The use of weak passwords like “123456789” and “qwertyuiop123” is also a big network vulnerability for businesses. These passwords can easily be guessed, allowing threat actors to penetrate your systems.
The same goes for the dependence on outdated authentication systems like single-factor authentication (SFA). Under SFA, a user’s identity is verified using only one layer of authentication to grant access to a service or system. This could be something the user knows, like a password, PIN, or passcode. This allows users to log in with minimal hassle.
However, if an attacker steals a user’s password through phishing or brute force attacks, they can immediately gain access to the account and move laterally across a business’s network.
Phishing is a cyberattack wherein threat actors send messages purporting to be from legitimate companies. It has a goal of convincing the receiver to reveal confidential information, such as passwords and credit card data.
Phishing is one of the biggest cyberthreats in the industry today. In fact, a 2023 report by the FBI’s Internet Crime Complaint Center found that phishing was the most common cybercrime, recording almost 300,000 complaints.
One of the reasons why phishing is popular with cybercriminals is its exploitation of human psychology, such as trust curiosity, fear, and urgency. For example, let’s say a sales employee receives an email from someone trusted like a colleague, asking them to immediately verify a financial transaction. Because of the sense of urgency the message has created, the employee might comply with the request, which can result in the disclosure of sensitive financial information.
Phishing attacks have also gone beyond email, as cybercriminals are now also using text messages, calls, and even QR codes. Some threat actors are even using AI to make their attacks more effective.
Did you know that threat actors may also come from inside your organization? These are known as insider threats.
They could be your employees, business partners, or contractors who have legitimate access to your IT systems and data. Some of them may have malicious intent, while others may only be negligent with their actions (e.g., not locking their computer when they’re away from their desk). However, both can cause significant damage to your business.
What makes insider threats tricky to detect is the fact that they don’t need to breach your network because they already have access. This allows them to stealthily bypass typical security solutions and misuse data, corrupt systems, or facilitate data breaches.
Security audits help evaluate and improve the security posture of a network. They examine security policies, controls, and practices to ensure that they can protect a business from network threats.
Without regular security audits, you may not be able to immediately detect software vulnerabilities in your network and systems, leaving them open to exploitation. Once cybercriminals infiltrate your systems, they can steal sensitive data. Additionally, insufficient audits can result in non-compliance, leading to legal issues and fines.
One of the best things your business can do to address and mitigate network security vulnerabilities is to perform an IT security assessment for network vulnerabilities.
A network assessment is the process of identifying, quantifying, evaluating, and prioritizing security vulnerabilities within a business’s IT infrastructure. Its aim is to allow organizations to address any issues and strengthen their network security before cybercriminals can exploit any weaknesses. Think of it like a health checkup for your IT network.
The typical process of conducting a network vulnerability assessment includes:
Dealing with network security vulnerabilities can be difficult, especially if your business doesn’t have the necessary IT skills. But thanks to Techmedics, you no longer have to do everything on your own.
With our managed security services, our expert IT team will be the one to identify, prioritize, and address all vulnerabilities in your network. This way, you can focus on driving more value for your business. Schedule a call today.
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