Top Cyber Security Risk Assessment Companies 2024

Jamie Wallace

Top Cyber Security Risk Assessment Companies 2024

The world of cybersecurity is constantly evolving, with new threats emerging daily. The average cost of a data breach in the United States is $9.4 million, highlighting the significant damages businesses face. To protect sensitive information from phishing attacks and data breaches, companies must assess and counter cybersecurity risks. Learning about current and future threats is crucial.

In 2024, the top cybersecurity threats include phishing and smishing, malware, ransomware, business email compromise, and trusted insider threats.

Cybersecurity risk assessment companies play a vital role in assisting organizations in identifying and mitigating these threats. These companies specialize in evaluating security measures, identifying vulnerabilities, and providing recommendations to enhance overall cybersecurity posture.

As the demand for cyber risk assessment grows, the competition for the top cyber security companies will intensify. To stay ahead of the curve, businesses need to partner with leading firms that offer comprehensive solutions and cutting-edge technologies.

In this article, we will explore the top cyber security risk assessment companies in 2024, helping businesses make informed decisions and secure their digital infrastructure against ever-evolving cyber threats.

Phishing and Smishing

Phishing and smishing are two prevalent cyber threats that pose significant risks to businesses. These attacks aim to exploit individuals and organizations, seeking to steal sensitive data and credentials for malicious purposes.

  • Phishing attacks: Phishing attacks typically occur through emails, where the attackers impersonate reputable entities to deceive recipients into disclosing confidential information. These messages often contain urgent requests or appear to be from trusted sources, luring unsuspecting victims into clicking on malicious links or providing sensitive data.
  • Smishing attacks: Smishing, on the other hand, adopts similar principles as phishing but leverages SMS messages to target mobile devices. Attackers send fraudulent text messages, enticing users to take action or provide personal information by disguising themselves as legitimate organizations. These attacks exploit the trust people have in their mobile devices, making them susceptible to scams.

Both phishing and smishing attacks are designed to bypass security controls and exploit human vulnerabilities. Once attackers gain access to an individual’s or a company’s network, they can navigate undetected, accessing confidential information, including customer and employee data.

Counteracting these cyber threats requires proactive measures to enhance security and protect against phishing and smishing attacks.

Phishing Prevention Strategies:

  1. Implement robust email security protocols to detect and block phishing attempts.
  2. Train employees on how to identify and report phishing emails, emphasizing the importance of verifying the legitimacy of requests.
  3. Utilize multi-factor authentication for all sensitive systems and accounts to provide an extra layer of protection.
  4. Maintain up-to-date antivirus software and regularly update systems and applications to close any security gaps.
  5. Encourage employees and users to be cautious when clicking on links or downloading attachments from unfamiliar sources.
  6. Conduct regular phishing awareness campaigns to educate employees about the latest techniques used by attackers.

By implementing these prevention strategies and fostering a culture of vigilance, organizations can effectively mitigate the risks posed by phishing and smishing attacks, safeguarding their sensitive information and preserving their reputation in the face of evolving cyber threats.


Malware, or malicious software, comes in various forms and can have devastating effects on a business. It often enters through phishing emails and can steal data, slow down systems, and render machines unusable. Malware spreads rapidly across an organization’s network, posing a threat to the entire company.

Preventative measures against malware include:

  • Using advanced antivirus and anti-malware software
  • Regularly updating systems to patch vulnerabilities
  • Conducting network security assessments to identify and address potential weaknesses

By implementing these cybersecurity measures, businesses can significantly reduce the risk of malware infections and protect their sensitive data from cyberattacks.


Ransomware is a malicious software that poses a significant threat to businesses by locking their systems and denying access to critical data until a ransom is paid. This type of cyberattack has become increasingly prevalent and sophisticated, targeting both large organizations and small businesses with limited resources.

The decision to pay the hackers or risk losing valuable data is a difficult one that many companies face when affected by ransomware. However, it is important to note that paying the ransom does not guarantee the return of the data or ensure future protection against similar attacks. Prevention is key to mitigating the impact of ransomware attacks.

To prevent ransomware infections and safeguard your organization’s data, there are several essential measures that should be implemented:

  1. Update Systems: Regularly update operating systems, software, and applications to ensure they have the latest security patches and defenses against known vulnerabilities.
  2. Maintain Separate Backup Systems: Regularly backup all critical data and store it separately from your main systems. This way, even if your systems are compromised, you can recover your data without paying the ransom.
  3. Practice Good Cyber Hygiene: Educate employees on best practices, such as avoiding suspicious email attachments, not clicking on unknown links, and using strong, unique passwords. Regularly remind them about the risks of ransomware and the importance of being vigilant online.
  4. Use Virtual Private Network Services: Ensure your employees connect to your organization’s network through a secure virtual private network (VPN). A VPN encrypts data transmitted between devices, reducing the risk of interception by cybercriminals.

Moreover, it is crucial to have an incident response plan in place to effectively respond to a ransomware attack. This plan should include steps to isolate and contain infected systems, notify relevant stakeholders, and involve cybersecurity professionals to investigate the attack and help recover the compromised data.

By implementing strong prevention measures, updating systems, maintaining secure backups, practicing good cyber hygiene, using VPN services, and having an incident response plan, businesses can significantly reduce the risk of falling victim to ransomware attacks and protect their critical data.

Business Email Compromise

Business Email Compromise (BEC) is a cybercrime that poses a significant cybersecurity risk to businesses. In BEC attacks, cyber attackers compromise business emails to deceive employees and defraud the company. These attackers manipulate employees into making payments into fraudulent accounts instead of legitimate ones, leading to payment fraud and financial losses.

The deceptive nature of BEC attacks makes them challenging to identify. Attackers often disguise their emails as genuine requests, tricking employees into believing they are conducting legitimate business transactions. This makes BEC a serious threat to businesses of all sizes.

Prevention methods for BEC

It is crucial for businesses to implement effective prevention measures to mitigate the risk of BEC attacks. Here are some recommended strategies:

  1. Use strong passwords: Encourage employees to create strong, unique passwords for their email accounts to reduce the likelihood of unauthorized access.
  2. Implement effective software: Utilize robust cybersecurity software, such as firewalls and anti-malware solutions, to detect and prevent BEC attacks.
  3. Verification process for payment requests: Establish a reliable verification process, such as a two-factor authentication system, to ensure that payment requests are legitimate.
  4. Multi-factor authentication: Enable multi-factor authentication for email accounts to add an extra layer of security.

In addition to these technical measures, educating employees about BEC and implementing security best practices is vital. Training employees to recognize suspicious emails, verify payment requests, and follow proper email security protocols can significantly enhance the overall resilience of a company’s email systems.

By implementing these prevention methods and fostering a company-wide culture of cybersecurity awareness, businesses can better protect themselves against the threats posed by Business Email Compromise.

Trusted Insider Threats

Trusted insider threats pose a significant risk to businesses in their ongoing battle against cybersecurity. These threats originate from individuals who have authorized access to sensitive information, including current or former employees, associates, or contractors. It is crucial for organizations to recognize that data breaches caused by insiders account for a significant portion of all breaches.

To combat insider threats effectively, companies must implement robust authentication controls to ensure only authorized personnel can access sensitive data. Regularly updating access credentials adds an additional layer of security to mitigate the risk of unauthorized access. Furthermore, maintaining good cyber hygiene practices, such as promptly revoking access when an employee’s role changes or when an individual leaves the organization, is essential.

In addition to technical measures, educating employees about the risks associated with insider threats is vital. By fostering a culture of security awareness, companies can empower their workforce to identify and report any suspicious activity promptly. Furthermore, implementing incident response plans ensures a swift and effective response in the event of a trusted insider threat. These plans should include steps to contain the breach, investigate the incident, and mitigate potential damage.

As the threat landscape continues to evolve, businesses must remain vigilant in their efforts to protect against insider threats. By implementing strong authentication controls, regularly updating access credentials, maintaining good cyber hygiene, and educating employees, organizations can minimize the risk of data breaches and safeguard sensitive information from trusted insider threats.

Jamie Wallace