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Cybercrime can be more debilitating than previously thought

Tech firms must become aware of potential threats. Published: 10/24/2012

Understanding the problems that can occur as a result of cybercrime is something managers at small tech companies need to take very seriously. During a recent meeting of the Business Executives for National Security in New York, Leon Panetta, U.S. Secretary of Defense and former CIA director, called the internet "the battlefield of the future," reported the IDG News Service.

"A cyber attack perpetrated by nation states or violent extremist groups could be as destructive as the terrorist attack on 9/11," he said in the televised speech. "Such a destructive cyber terrorist attack could virtually paralyze the nation."

These strong words should push owners at small tech companies to make sure they are protected from any potential cyber attacks that can debilitate their firm. A strong cyberliability insurance policy can provide small tech firms the protection they need for their critical business files.

The effects of Shamoon and malware
Distributed denial of service attacks - an attempt to make a machine or network resource unavailable to its intended users - are becoming a more popular method for cybercriminals to infiltrate the IT infrastructure of businesses. However, according to Panetta, malicious software - commonly known as malware, including attacks such as "Shamoon" that disrupted the operations at oil company Saudi Aramco - are even more startling, the news source reported.  

"All told, the Shamoon virus was probably the most destructive attack the private sector has seen to date," he said at the meeting. "Imagine the impact an attack like that would have on your company."  

Business must work to protect critical infrastructure
Small tech companies and large organizations alike have important business files that could be greatly harmed if they are compromised by some type of cyberattack. This is why businesses must do all they can to make it as difficult as possible for computer hackers and cybercriminals to infiltrate their infrastructure, according to the news service.

"The most destructive scenarios involve cyber actors launching several attacks on our critical infrastructure at one time in combination with a physical attack on our country," Panetta continued. He also said cyber attacks have a much higher potential to do mass damage than many people would like to believe.

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