Cyber attacks cost businesses more than 600 billion dollars in 2017.

With so much money at stake, hackers are always developing new techniques and technology.

It’s essential to your business’s success and survival that you’re familiar with cyber attacks.

Use this guide to learn about ten of the most common types of hacking in use today.

Types of Hacking: The Basics

The image most people have of a hacker is of a skilled programmer typing away at a keyboard. This couldn’t be further from the truth.

Most modern hackers don’t even write their own code. They use existing software designed to exploit vulnerabilities in widely used systems. They can also use direct contact methods to try and steal information from your business.

Protecting against hackers is becoming more complicated than ever before. It’s important to seek out more info about effective cybersecurity methods.

Here are some of the most common hacking methods in use today.

1. Social Engineering

Social engineering attacks have been around forever. Hackers use information about an organization’s practices to convince people to give them greater access. One of the most famous hackers in the world, Kevin Mitnick, worked almost exclusively using social engineering.

This kind of attacker will often call up your business or support team. They’ll then try and talk them into giving up sensitive information, access credentials or more information.

Many companies struggle with social engineering attacks. There is no ‘magic bullet’ software solution for them. Frequent training of employees is the only way to protect yourself.

2. Ransomware

Ransomware attacks work by holding your system or data for ransom. An attacker accesses your network and proceeds to encrypt sensitive data. This makes it inaccessible to you.

Then they demand payment, usually in the form of bitcoin, for the unlock key. If you don’t pay up your data is permanently encrypted and unusable. Major organizations across multiple countries have been hit with this kind of attack.

Attackers will often try to convince users that they targeted them for illegal actions they took. This is to stop them from seeking help from law enforcement.

3. Phishing Attack

Phishing is one of the most common cyber attacks today. A hacker will send out an email that looks like it comes from a reputable source.

If you don’t notice that it’s fake and click on it the attack springs. Often a link will take you to a fake version of a website and then harvest your login information.

4. Denial of Service

DoS and DDoS attacks are often used as retaliatory hacks. The goal is to send so much fake traffic to your webpage that available bandwidth is used up.

This prevents actual users and potential customers from accessing your site and services. It’s very difficult to stop a DoS attack once it’s begun. Many attackers will use botnets and other distribution methods to bog down your system.

This makes it very difficult to identify a single source of an attack.

5. Bait and Switch

A bait and switch attack exploits common content marketing tactics. Bad actors use advertising links placed across huge numbers of websites to insert malicious software.

They submit a valid link to an advertising agency and get it approved. Once this happens they switch the destination of that link with one that will download malware. This type of attacker will often try and hide their tracks as long as they can. In some cases, they will log the IP addresses of advertiser reviewers to present a legitimate page.

6. Man-in-the-Middle Attack

A man-in-the-middle attacker eavesdrops or modifies the communication between two parties. This type of attack is commonly employed by state-sanctioned hackers attempting espionage and corporate sabotage activities.

The attacker often does nothing but record the communication for later use. In this way, they can gain significant knowledge of business plans and secrets.

Other uses involve intercepting banking communications. This lets them capture your login credentials and trick you into thinking you are communicating with your bank. You’re actually using a fake website that’s stealing your information.

7. Packet Sniffing

Packet sniffers exploit the ubiquity of unsecured public Wifi hotspots. They connect to these hotspots and set up a program that reads all the traffic going through it.

If your employees don’t follow proper safety protocols when accessing public networks they may be at risk. Hackers can steal usernames, passwords, banking information, and sensitive data.

8. Trojan Viruses

Trojan viruses usually aren’t themselves the threat. Trojans pose as legitimate software and give an attacker access to your systems.

Once they’re in they can cause significant damage. They may choose to install remote access tools, ransomware or other malware. They can also steal your data. If you believe you have a virus on your system it’s important to act quickly to protect yourself.

9. Cookie Theft

Cookie theft occurs when an attacker copies a user’s unsecured cookies. This often takes place using packet sniffing over an unsecured network.

They then use these cookies to impersonate the user. They can make posts in their name on blogs and forums or even transfer money from bank accounts.

10. Backdoor Attacks

This type of hacking uses a combination of techniques to succeed. Hackers will try and get a user to install a remote access tool (RAT) on your system disguised as something else.

This is achievable using a trojan virus, social engineering or another attack method. Once installed this RAT allows them complete access to your network and data. They can install other malware, such as ransomware, or steal sensitive data.

Many backdoor attackers will do nothing. They give no indication they’re watching and skim off valuable data for months or even years.

Stay Vigilant

Protecting your organization against cybersecurity threats requires knowledge. Knowing what types of hacking are most often used is the first step. Once you know what to look for you can begin to put countermeasures in place to protect your data.

If you found this article useful, check out some of the other advice we have available.