Cybersecurity Risks for Freelancers & Tips to Protect Your Data

While freelancing is lucrative and provides loads of flexibility, it also comes with several cybersecurity risks. After all, freelancers don’t have the luxury of having a designated cybersecurity department to help them the way traditional employees do. Learn cybersecurity risks freelancers are exposed to and how to protect yourself and your data.

• Introduction
• Why is Cybersecurity Important for Freelancers?
• Cybersecurity Risks Freelancers May Face
• Top Cybersecurity Threats in 2024
• Steps to Assess Your Cybersecurity Vulnerability
• Best Practices and Tips for Cybersecurity
• Tools and Resources for Enhancing Cybersecurity
• Staying Updated on Cybersecurity Trends
• Conclusion
• FAQs

What is Cybersecurity?

Before we jump into the importance of cybersecurity, let’s talk about what it actually is. Cybersecurity is essentially several methods, technologies, and processes that help protect sensitive and confidential information. 

All these methods help ensure that your devices, software, and other electronic assets are safe from threats by malicious hackers and third parties.

Why is Cybersecurity Important for Freelancers?

While cybersecurity practices are important for anyone who has an electronic device, it’s particularly vital for freelancers and those who work remotely. As more and more people embrace remote working and digital nomadism, protecting your assets becomes crucial.

As mentioned, freelancers don’t have the luxury of having an entire cybersecurity team to protect them the way traditional employees working full-time for a company do.

Plus, more often than not, freelancers have to pay out of pocket for laptops, phones, or software that they might require for work. This is unlike traditional employees who are usually issued work laptops that come with cybersecurity software like malware scanners already installed.

For a lot of freelancers, their personal laptops and other electronic devices are necessary tools that help them earn money and perform their jobs, so if their devices somehow get hacked, stolen, or compromised, it’ll be considerably expensive for them. 

In a report published by the Institute for Security and Technology in 2022, 43% of all cyberattacks targeted small businesses, meaning that freelancers also run a huge risk of being targets.

Cybersecurity Risks Freelancers May Face

Beyond having their hardware stolen or hacked, there are several other risks associated with freelancing or even becoming a digital nomad. Below, we share other cybersecurity risks that come with going freelance:

The financial implications of a cyberattack will definitely be costly

Besides having to get their hardware back up and running, freelancers might have to pay the price – literally – for stolen data, information, and the theft of intellectual property.

In most cases, before a freelancer is engaged, they’re made to sign legal documents and other obligations that protect their companies and clients. The General Data Protection Regulation (GDPR) that’s part of the European Union (EU) and the UK affects anyone who works with information created in the EU and the UK, even if the freelancer is located outside of these areas.

Data protection laws also exist in countries like Australia, the U.S., and Canada, meaning freelancers might actually be fined if they do not take enough precautions to protect the data on their devices.

Your reputation is at stake

Reputation damage is another negative impact that could affect a freelancer’s livelihood. Many freelancers rely on referrals and have to market themselves on social media to get jobs. So, if their reputation is affected following a data breach, it will be much harder to obtain employment and build trust with clients again. It’ll definitely be difficult to shake off any bad review from a client after an attack happens.

Cyberattacks are huge distractions

It’s estimated that companies take anywhere from two weeks to six months to recover from a cyberattack, depending on the type of information lost and the damage done by malicious actors. However, one thing’s for sure: a cyberattack is nothing but a costly and big distraction.

For freelancers who are paid on an hourly basis, having to recover information and fix any issues means valuable work time down the drain. Furthermore, investigations and reports might sometimes need to be done if a particular breach was really bad. For cyberattacks that are particularly damning, the authorities might even have to get involved.

Cyberattacks could impact your life outside of work

We’ve already discussed how expensive a cyberattack can be. However, it could also affect your life outside of work.

Outside of freelance work, we interact with many different apps for our personal use. For example, many of us use finance and digital banking apps. Freelancers may even use a platform to invoice and receive payments to their PayPal or bank accounts. That said, it’s extremely important to protect their accounts because if a hacker manages to infiltrate them, they could use your account to wire money elsewhere or make it harder for you to receive your payments.

Top Cybersecurity Threats in 2024

As technology advances, so do threats and cyberattacks. Reports and statistics conducted over the years indicate that cybersecurity threats are becoming more diverse, complex and dangerous. Cybersecurity threads can broadly be categorised into the following:

#1 Malware

Malware refers to software that is designed to cause harm or disruption to a computer or server. This ecompasses various forms of threats including viruses, worms, spyware, ransomware, adware, etc. 

The most common type of malware is a virus. Cybercriminals spread malicious files throughout a computer or a server intending to damage or corrupt the system’s operation. The virus is usually transmitted through a type of executable file and once activated, replicates itself until it affects the whole system. 

In 2024, however, we are seeing an escalation in ransomware attacks – another type of common malware attack. As the name suggests, ransomware is a type of cybersecurity attack that involves locking out a person from their computer or files until a ransom is paid. 

An example of ransomware is the WannaCry ransomware attack which occurred in 2017 by the WannaCry ransomware cryptoworm. It impacted more than 200,000 computers across 150 countries and hit major corporations including FedEx, Honda, and Nissan.

#2 Phishing

Phishing is a form of social-engineering attack that involves attackers posing as legitimate institutions to obtain sensitive information like user data, including login credentials and credit card numbers. 

A classic scenario of phishing is when you get emails from Netflix saying “Your account is suspended.”, only for it to be from an unknown email instead. 

Recent trends show that phishing attacks have grown in significance over the past few years and are still an issue in 2024. In fact, according to a report published by cybersecurity firm SlashNext, an average of 31,000 phishing attacks are dispatched daily.

Real-life examples of phishing include the infamous phishing attack on Facebook and Google from 2013-2015 where an attacker posing as Quanta – a Taiwan-based company – sent invoices to both companies, resulting in almost a $100 million in losses. 

#3 Man-in-the-Middle Attacks

A man-in-the-middle attack, or MitM for short, is a type of cyber attack where the attacker intercepts communication between two parties with the intent to steal data and information.

Attackers place themselves “in the middle”, allowing them to steal or modify and manipulate communications.

An example of an Mitm attack is when you think you’re communicating with your bank in a secure manner, but a hacker is actually logging all of your interactions.

#4 Third-party risk

Another cybersecurity threat that’s been of significance lately is third-party risk which involves criminals targeting third-party networks in an attempt to access privileged information.

A major example of this type of cybersecurity is when AT&T – an American telecommunications company – was hit with a massive breach that affected more than 70 million customers, exposing call and text data, passwords, and more.

Steps to Assess Your Cybersecurity Vulnerability

There are various steps you can take to assess how vulnerable you are as a freelancer from cybersecurity attacks:

• Identify weak points in your setup: By identifying vulnerabilities early on in your setup, you can uncover issues that can lead to any future attacks. This will help limit the damage incase of any breach and can minimise your business’s data and financial loss.
  
• Evaluate the sensitivity of your data: Assessing the sensitivity of your data ensures that you take proactive steps to mitigate any risks. The best way to determine if data is sensitive is to think about how the loss of confidentiality or integrity of that information would affect your freelance business.
  
• Assess the security of third-party tools and platforms: As a freelancer, you’re more prone to using third-party tools and platforms to ensure business growth and management. It is therefore advisable to evaluate the security measures of the third-party tools you use in order to safeguard your data.
  
• Review access permission: Make sure your data is only available to those who need it and when they need it. Reviewing and updating access permissions regularly helps you limit cybersecurity vulnerability and protects your data.

Practical Cybersecurity Tips for Freelancers

Thankfully, there are things freelancers can do to protect themselves from becoming victims of cyberattacks and malicious threat actors. Some of the basic and practical tips and tricks that freelancers can use include:

#1 Always use strong passwords

A strong and complex password is the first line of defence against any sort of cyberattack or threat. ExpressVPN’s study on passwords found “123456” is the most commonly-used password anywhere in the world, regardless of language differences.

To create a strong password, remember to create one that uses more than 12 characters and consists of a mix of letters, numbers, and symbols. If you find it difficult to remember your passwords, consider investing in a password manager that will help you store and generate strong passwords. 

Popular password managers like LastPass, 1Password, and KeyPass have smartphone apps that allow you to access your passwords even while on the go.

#2 Use two-factor authentication (2FA) on all accounts

Two-factor authentication, also called multi-factor authentication, are security settings that add an extra layer of protection to any account. These settings require a user to log in with a password and then verify it with a secondary credential – whether a unique code or a biometric scan – to access any account.

Most times, codes are either sent via a registered email or phone number. Many freelance applications, like Slack, Gmail, and WorkMarket require secondary means of authentication.

Wherever possible, make sure to enable 2FA to increase your cybersecurity defences.

#3 Update your software regularly

Updating any type of software, or operating system you use is a great way to protect your device. Most software updates come with patches for bug fixes and irregularities that could make an app vulnerable to attacks, so it makes sense to want to update them. 

Like file backups, most software or app updates are automatic, but it’s definitely worth checking to see if something requires manual updates once every few weeks or so.

#4 Regularly backup your data

Make it a point to regularly backup your data to an external drive or the cloud every few weeks. This ensures that your data is secure in case of any hardware failures or hacks. 

While most backups are done automatically, some software might require manual backups. That said, you might want to consider setting up reminders to back up your data.

#5 Implement safe browsing practices

Safe browsing practices are essential in protecting your information and data. This is especially necessary if you’re a freelancer who loves working out of a cafe or a co-working space. While it’s great that changing work locations offers a change in scenery as well, anywhere with free Wi-Fi can be a hive for hackers and threat actors.

In particular, hackers love using a hacking method known as the Evil Twin and trick unknowing users into connecting to a fake Wi-Fi access point. Once a user connects to this access point, the hacker is then able to see all the internet activity done by a user and any sort of information they’ve shared. This spoofing method is popular with hackers because it’s easy to set up and most users are none the wiser.

It is therefore essential that you adopt safe browsing practices such as using a secure browser, turning on a VPN, regularly clearing your browsing data and being careful with what you click on or download.

#6 Secure all files in a trusted place that’s encrypted

As a freelancer, you might want to consider separating the personal information of your clients, like payment details, addresses, and full names, across different file servers. 

Alternatively, see if you can do away with storing these types of information natively on your device or have the company you work for handle the storage of these datasets instead. This way, should your device get compromised, hackers will not be able to gain access to all this information.

#7 Educate yourself or attend cybersecurity training courses

One of the easiest ways to prepare and protect yourself is to learn basic cybersecurity training methods. Alternatively, consider asking if the company you happen to be freelancing for provides cybersecurity training for its full-time employees. Some companies might even allow you to attend or create a specific training course for freelancers.

If you’re wondering where to start, topics worth learning about should include things like ways to identify suspicious emails and messages, what to do if you’ve received something suspicious, and ways to recognize phishing methods. You might also want to take it a step further and learn about ways to create strong passwords.

With the tips above, we hope you’ll be able to protect yourself better as a freelancer and understand the nuances that come with being one. While it might seem daunting and difficult at first, learning to adopt cybersecurity best practices could save you a lot of time and money over the years.

Tools and Resources for Enhancing Cybersecurity

There are various tools and resources available that can help safeguard your freelance business operations and fortify it against potential threats:

#1 Antivirus and Anti-Malware Software 

Installing reputable antivirus and anti-malware software will protect your devices from dangerous software. 

Examples of leading antivirus and anti-malware tools include Norton 360, Malwarebytes, McAfee, and Avira.

#2 VPNs and Secure Networks

The main benefit of using VPNs and secure networks is the privacy it offers. VPNs encrypt your data and any identifiable information and helps mitigate any risks. NordVPN, Norton Secure VPN, and ExpressVPN are just some examples of VPNs that are available.

#3 Password Managers

Password managers are a powerful resource that help create and store passwords. They help generate complex passwords for each of your many accounts, thus reducing the risk of password-related breaches. 

They also store these passwords in an encrypted space, ensuring that non one has access to your credentials. 

Examples of password managers include NordPass, Bitwarden, 1 Password, and Proton Pass.

#4 Encryption Tools

Using encryption tools safeguards sensitive information, ensures confidentiality, and maintains data integrity. It also builds trust and confidence in your clients and promotes brand reputation. 

Some examples of encryption tools are VeraCrypt, NordLocker, LastPass, and BitLocker.

Staying Updated on Cybersecurity Trends

Staying up-to-date on cybersecurity trends is crucial, especially with how fast threats evolve. If you want to fortify your business’s defences, you need to stay informed and ready. Since cybercriminals are constantly finding new ways to attack, staying informed of current technologies and trends in cybersecurity will help you recognise threats and defend yourself from them. 

You can stay up-to-date with the latest trends by following reputable cybersecurity news sources such as Dark Reading, CyberCrime Wire, Security Magazine, etc. 

You can also attend cybersecurity conferences and webinars and connect with professionals through communities and forums like Reddit’s r/cybersecurity.

Certifications and courses are other good options for staying informed and learning best practices. Some examples you might consider are as follows:

• The Beginners 2024 Cyber Security Awareness Training Course
• Google Cybersecurity Professional Certificate
• The Complete Cyber Security Course : Hackers Exposed!
• IFCI Expert Cybercrime Investigator’s Course

Conclusion

Cybersecurity is crucial for freelancers, especially in today’s increasingly digital world. Seeing as how most freelancers tend to handle sensitive information such as client data and financial records, they are a prime target for cyberattacks such as ransomware, data breaches, phishing, etc.

To mitigate these risks, it’s important to understand where you are vulnerable and take the right steps to ensure you are protected and secure. From using stronger passwords and keeping your software updated to using encryption tools and implementing secure browsing strategies, you can defend yourself and your business from malicious attacks and harm. 

It’s important to prioritise cybersecurity as a freelancer because at the end of the day, you are responsible for the security of your business. Staying vigilant and informed will help you combat any potential risks and keep your business safe.

FAQs

What are common cybersecurity risks for freelancers?

Common cybersecurity risks for freelancers include phishing, malware, and social engineering. Understanding these threats and what each of them mean allows you to protect your freelance business from hackers and cybercriminals.

Do I need cyber insurance?

Every situation is different and what kind of insurance you need depends primarily on your circumstances. However, if you are worried about cyber threats and would like to protect your freelance business at all costs, cyber insurance is a good idea. 

What is a data breach?

A data breach is an incident that results in information taken or stolen from a system without the knowledge of its administrator. The stolen information is then either sold for profit or used as part of a wider attack.

How do I know if my data has been breached?

Check for any suspicious activity on your accounts such as logins and misleading password retrieval emails and messages. If you find these, chances are your data has been breached. There are also platforms like Have I Been Pwned or Avast that let you know if your email has been breached.

What types of freelance businesses are most at risk for a cyberattack?

Businesses that deal with manufacturing, financial, health, intellectual, and government information are the most likely to be victims of cyberattacks. In fact, according to statistics from the IBM Security X-Force Index 2024, 25.7% of cyberattacks were made on manufacturing businesses in 2023. 

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