In an increasingly digital world, Baltimore businesses face a variety of cyber threats that could disrupt operations, compromise sensitive data, and damage customer trust. For small and medium-sized businesses (SMBs), these dangers are particularly potent, as limited resources can make it difficult to defend against sophisticated cyber-attacks. Understanding the key threats and taking preventative steps is crucial for businesses looking to stay secure in the future.
Here, we’ll explore the top cybersecurity concerns for Baltimore businesses in 2024, with some practical advice on how to protect your company from these risks thrown in for good measure.
Phishing, Vishing, and Deepfakes
Phishing continues to evolve and is now more deceptive than ever, especially as it’s paired with technologies like artificial intelligence (AI). While email phishing remains common—86% of companies experienced it in 2023—newer forms like vishing (voice phishing) and deepfakes (AI-generated media that imitates real people) are becoming more frequent and harder to identify.
Baltimore businesses need to stay particularly vigilant, as these types of attacks have increasingly targeted local SMBs. Cybercriminals might impersonate trusted partners or even local government agencies to trick employees into revealing sensitive information. Falling victim to these scams can lead to financial losses, data breaches, and reputational harm.
Preventive Measures to Combat Phishing
- It’s essential to train employees to recognize suspicious communications.
- Implementing comprehensive cybersecurity in Baltimore means factoring in regular staff training and phishing simulations to keep everyone aware of potential threats.
- SMBs should also consider tools that can verify the identity of email senders and detect deepfake videos.
Ransomware
When successful, ransomware is one of the most devastating 2024 cybersecurity threats for businesses. This is particularly true in Baltimore, where local governments and organizations have been prime targets in the past.
Ransomware attacks lock users out of their systems or encrypt data, demanding a ransom to restore access. Even for those who don’t pay, the operational downtime and reputational damage caused by such attacks can be significant.
You might not be in a position to pay out the $18.2 million the city lost to the 2019 network attack, but don’t let that lull you into a false sense of security. SMBs are often targeted because they may lack the sophisticated detection and defense measures of larger companies. As we see out 2024, ransomware is expected to continue evolving, using more advanced encryption techniques and focusing on smaller businesses.
How to Prevent Ransomware Attacks
Regularly backing up your data and storing it independently from your network is crucial. Additionally, ensure your cybersecurity strategy includes:
- Strong firewalls
- Up-to-date antivirus software
- Routine penetration testing to identify vulnerabilities before hackers do.
Ransomware response plans, including tabletop exercises, can also help local businesses stay prepared for any attempted attacks.
Malware as a Service (MaaS)
Malware as a Service, or MaaS, is making it easier for inexperienced cybercriminals to deploy dangerous malware. It’s not just SMBs in Maryland who’re increasingly being targeted by this threat—hackers can rent or purchase pre-built malware tools to infect any business’s systems, steal data, or hijack computer resources, if they don’t have appropriate defenses in place.
Malware can take many forms, including:
- Viruses: A virus is a malicious program that attaches itself to legitimate files or software. Once someone unknowingly downloads or opens the infected file, the virus spreads to other parts of the system. Viruses can cause all sorts of harm, from corrupting files to slowing down your computer or even harvesting sensitive information.
- Trojans: Named after the infamous Trojan Horse, trojans are designed to trick you into believing they’re harmless—or even useful. They usually come disguised as legitimate software or files but carry hidden malicious code. Once installed, trojans can allow hackers to control your system.
- Spyware: Spyware is software that quietly monitors your activity without your consent. It can track everything you do online, record your keystrokes (like usernames and passwords), and even capture sensitive information, like bank details.
The purpose of any form of malware is usually to steal data for identity theft or fraud. For SMBs in Baltimore, these attacks can result in severe financial losses, reputational damage, and prolonged downtime that halts operations.
Using Cybersecurity Strategies to Combat Malware in Maryland
Staying secure in the age of MaaS requires advanced threat detection tools, regular system audits, and frequent updates to security protocols. Partnering with local IT support providers can give Baltimore businesses access to the latest defensive technologies, as well as expert guidance on malware protection.
IoT Device Exploitation
The Internet of Things (IoT) is expanding, and so are the risks associated with it. Many businesses rely on IoT devices like smart cameras, thermostats, and other connected technologies—and may not even consider them a security vulnerability. However, these devices often come with weak safeguarding features, making them an easy entry point for cybercriminals looking to infiltrate a company’s network and just as much of a priority as any other cybersecurity tool.
Hackers can exploit vulnerabilities in IoT devices to:
- Gain access to your business network
- Launch data breaches
- Disrupt services
Given that many businesses in Baltimore have adopted IoT technology without implementing robust security measures, this is a growing threat that needs to be addressed as we move into 2025.
Preventing IoT Device Risks
Changing default passwords on all IoT devices and ensuring firmware updates are applied regularly are simple steps that can significantly reduce the chances of exploitation. Additionally, separating IoT devices from your main business network can help contain any potential breaches. Baltimore businesses should seek professional guidance from local cybersecurity experts in Maryland to ensure comprehensive protection for their IoT systems.
Social Engineering
Underpinning most modern-day cyber threats is social engineering. It’s a dangerous tactic used by cybercriminals to manipulate employees into providing access to sensitive information. Unlike technical hacks, social engineering relies on psychological manipulation and can be highly effective—especially if attacks are personalized. In Baltimore, where local businesses are tightly connected within the community, attackers can use this familiarity to gain the trust of unsuspecting employees.
Thanks to social media, techniques like baiting, pretexting, and impersonation have become more sophisticated, making them hard to detect. Social engineering is particularly concerning for SMBs, which may not have dedicated IT teams constantly monitoring communications.
How to Steer Clear of Social Engineering
SMBs in Baltimore can protect themselves by:
- Conducting regular cybersecurity awareness training that covers the latest social engineering tactics.
- Changing privacy settings on personal social media accounts to restrict who has access to your information and being mindful of what’s shared on company platforms.
- Implementing multi-factor authentication (MFA) across all systems. This ensures that even if an employee is tricked into revealing credentials, attackers won’t easily gain access to their account.
Final Thoughts on Cybersecurity in Baltimore for 2024
The threats to Baltimore businesses in 2024 are numerous and varied, from evolving phishing tactics to IoT vulnerabilities. It’s only by understanding these risks and implementing strong preventive measures that local SMBs can reduce their exposure to cyber-attacks.
Partnering with a trusted cybersecurity provider in Maryland is one of the most effective ways to stay protected. By leveraging expert knowledge and cutting-edge tools, SMBs can guard against 2024 cybersecurity threats, ensuring that they continue to operate securely and efficiently.
Trusted Technology Partners: Empowering and Securing Maryland’s Businesses with Personalized IT Services
Based out of Nottingham, MD, Trusted Technology Partners is a premier ‘can-do’ IT service provider helping local businesses thrive.
Our all-inclusive IT support in Maryland takes care of your business’s IT environment, so you can take care of your business. Whether you’re in need of infrastructure, cybersecurity, consulting, or cloud solutions, our team of helpdesk heroes is on hand. Reach out to say hello today!
