Cybersecurity threats continue to make headlines worldwide, costing businesses vast amounts of money each year. Cyberattacks do not spare even small and medium-sized enterprises. The majority of such hacking attacks are email-based, with the target being manipulated to check the email, open the links, or download files.
According to statistical data, more than 99 percent of hacking attacks are human-centric and depend on human interaction to function. While malicious hackers involve human input to steal information, the most notable recent progress in network-based malware allows the attacker to violate security walls without any need for human interference.
Among the most serious concerns for VIPs is information security. Lawyers, cryptocurrency traders, and high-profile individuals are all financially rewarding victims of all sorts of cybercrime. VIPs like celebrities, lawyers, crypto traders, executives, athletes, and entrepreneurs face the constant pressure of online security threats like social engineering, SIM swapping, email hacking, identity theft, and more.
What is Online VIP Security?
A VIP is someone who necessitates a high degree of protection. People at the top of any sector are valued victims of malicious actors. Cyberattacks on VIPs can have severe consequences for their image, assets, and even their workplaces.
Currently, VIP security is a necessity. Since they help produce high-level access within an organization, VIP top management and VAPs appeal to hackers. Prevalent security issues to VIP security include SIM swapping, identity theft, social engineering, hacked email account, social media impersonation, and mobile phone attacks.
As per the survey, the average total cost of data breaches has risen to USD 4.2 million, the highest figure in the study’s 17-year historical record.
Combining VIP security services, on the other hand, mitigates the risk and ensures protection against potential threats.
Why Are VIPs Valuable Cybercrime Targets?
VIPs and top execs critical to a company’s and brand’s success make them a perfect target for malicious people seeking to gain access to classified data.
According to statistics, C-suite execs introduce 40 percent of businesses to cybersecurity threats. Let’s look at a few reasons why VIPs are a popular target for hacking attacks:
- Tech-savvy cyber attackers use SIM swapping, social media spoofing, email hacking, and identity theft to target CEOs, CFOs, and executive officers.
- Cybercriminals understand that higher-level execs with classified access are perfect for obtaining valuable information and data about the complexity of an organization. Once intruders gain access to the system via VIP accounts, they can extract helpful and distribute corporate data, blackmail, remove money, and harm the business image.
- VIPs, executives, and employees frequently give out personal information on social networking sites used by cybercriminals for profile imitation. It puts a company at risk of reputational damage and financial loss.
- Organizations are facing reputational damage due to social networking spoofing and the exposure of VIPs’ IIP as a result of a data leak.
- The digital risks associated with VIP exposure include brand visibility and vulnerable record leakage to the audience.
- VIPs are continuously vulnerable to cyberattacks due to a lack of understanding of cybercrime, inadequate cybersecurity training, remote work structure, and BYOD (bring your device) policies.
Tips to Online VIP Security
Below we have added some excellent VIP security tips to secure your data and reduce your VIPs’ vulnerability to cyber attacks.
Mandate VIPs Credential Update Timely
Numerous companies have BYOD (bring-your-own-device) policies in place or provide antivirus software pre-installed on their employees’ smartphones, but execs are still vulnerable to malware. Companies should develop security systems to detect and identify susceptible credentials as soon as possible and mandate a timely refresh of VIOP certificates to avoid the leak of passwords. Leaked login details could be used for spoofing attacks, putting your company’s online security at stake. A susceptible private account can serve as an entry point for malicious actors into your company.
Employ Multi-Factor Authentication
Multi-factor verification should be enabled for all VIP’s personal and social accounts. One option is to use authenticator apps, including Google Authenticator, 2FA Authenticator, Microsoft Authenticator, and Authy. You could also use a password manager to create OTPs )one-time passwords) for added security, such as LastPass and BitWarden. Another excellent multi-factor authentication method is physical tokens such as YubiKey.
It is also worth noting that attackers read SMS utilizing phishing and session hijacking, which is why you must avoid using SMS-based authentication.
Cyber Awareness Training
Provide proper cyber awareness training to all the VIPs, top management, and rest of the staff to recognize cyber threats, and stay up to date with the latest developments. Adequate cyber security training is one of the best ways to prepare your team and organization for cyber attacks and take necessary action to combat such attacks.
Get Mobile Security Solutions
To prevent devices from security breaches, ensure that your organization implements mobile security products such as quick email access. By integrating fully-featured security solutions, managers are less likely to disregard security measures. Efani’s digital VIP security services guarantee online security 24 hours a day, seven days a week.
Protection Against Targeted Attacks
Malicious hackers will go to great lengths to target VIP employees to steal essential assets. Threat actors test leaked or stolen credentials, SIM-swapping, and spear-phishing strategies to penetrate accounts and manipulate executives, managers, and other employees with access to the sensitive data. Taking measures and putting a cyber security policy in place can protect your organization against targeted attacks.
Placing cyber security policies and training employees against cyber attacks is one thing. But getting cyber insurance to cover a company’s damage is another essential aspect of preventing significant financial loss. Get your clients and your company to sign a cyber insurance contract to minimize the economic deterioration in case of data theft.