Cyber criminals may threaten to destroy computer systems or erase data. They can also infect a company’s computers with viruses. Businesses of all sizes are subject to these attacks every day.
How can your business be protected from ever-evolving cybercrime?
Businesses were at risk from cybercrime in 2020 due to the shift to remote working. Zoom calls, emails, and other technologies are used to run businesses. Remote work meant that businesses were more likely to be hacked. Even the most secret information had to be transmitted digitally by 2020. This allowed hackers to gain greater access and control over business data.
Cyber gangs like Exaggerated Tiger and Cosmic Lynx get smarter and more dangerous every day. These criminals can combine ransomware with extortion to cause irreparable damage for businesses all over the globe. High-quality cybersecurity software is essential for protecting data and businesses.
For more information on cyber-attacks against your business, contact a technology attorney. Here are some ways to prepare yourself for cyber-attacks.
Get to know your IT environment
You must understand each section of your network, and how it connects. You might have cybersecurity on your laptop but not your phone or iPad. Hackers may gain access and information on your devices that are not monitored to gain access or modify your computer or broader database. Both your professional and personal devices should be protected.
Authentication
Multi-factor authentication will keep hackers out of your company network. Employee passwords should be changed monthly. Also, you can use request and acces authentication to update your employee’s passwords, as well as face-ID and face-ID. Firewalls, antivirus software, and firewalls are less important than authentication. Multi-factor authentication, while it is tedious and time-consuming at times, can save you much time and money down the road.
Your client and investor information is also stored on your company’s software. You may not have sufficient cyber protection and these people might be reluctant to work with your company. If their bank details and private addresses are at high risk, consumers are less likely than others to invest in your business.
Be ready to fight ransomware
Ransomware has grown in popularity over the last few months. Hackers can hack into your company’s data to steal it and ruin it until you pay ransom. Ransomware could damage your business’ reputation and drain your finances.
Cybercrime Prevention Tips for Your Company
SMBs, which are small- to medium-sized enterprises (SMBs), see cybersecurity as an issue that should be addressed once they have more money. These businesses are more likely to be the victims of cybercrime. 43% of cyberattacks are directed at small businesses. Although criminals understand that large corporations have strong security measures, smaller businesses can be vulnerable. If cybersecurity is not a priority for your SMB, it is time to make that a priority. There are many things you can do to help yourself protect even if you don’t have the resources.
1. Training employees
Employees who lack proper security training are at great risk. It is essential to train employees to identify warning signs and how to minimize risks.
Phishing is an extremely common security threat. The Henry M. Jackson Foundation is a medical research charity that used fake phishing emails to educate employees. When the Jackson Foundation began phishing-education campaigns, their click rate was just 27 percent. When an employee clicked the fake email, they were prompted to open a popup explaining the warning signs. The pop-up alerted employees to the dangers and helped the company reduce click rates by about three percent.
Employees need to be taught about security threats regularly. This should not be done as a one-off event. For employees to be able to keep up with the latest technology, and avoid creating security risks for themselves, cybersecurity training should be conducted on a daily basis.
2. Create a system security plan
A system security policy (SSP), which is a list of security practices that will protect your data, is what you call a comprehensive summary. SSPs identify features within a system like hardware, software security measures, training methods, incident-response plan, and security measures. This document includes information on how to limit access to authorized user and how employees can practice security habits and respond to security breaches. It helps prevent things from falling through cracks in busy schedules. This can be a cost-saving measure if your IT staff are knowledgeable about the subject. However, it is better to hire consultants. Poorly written SSPs could cost you more.
3. Keep the software up to date
SMBs can get too busy to keep their software up to date. Older software can leave your company open to potential security risks. Hackers look at the latest software updates to identify businesses that are slow in adopting them. Fortinet’s 2017 Global Threat Landscape reported that 60% of organized security breaches were caused by vulnerabilities older than 10 year.
4. Forgetting password policies is a bad idea.
Passwords must not be repeated and should be regularly updated. Hackers also find it easy to crack simple passwords. A password-cracking specialist revealed in 2012 a program that could handle any eight-character passphrase. This is why passwords should have more than 8 characters. And the more complex they are, the better.
5. Cybersecurity outsourcing
If you feel overwhelmed about managing cybersecurity problems yourself, there are many resources to help you. Many small businesses neglect cybersecurity because they don’t understand the concept. But, it could end up costing you your business.
Many IT companies offer small-business security consulting. Sometimes it’s easier to use antimalware or antiransomware technology. Verizon Research found that malware is responsible in 28 percent security breaches. Security risks can be significantly reduced by installing software that prevents malware attacks.
SMB running is stressful and time-consuming. So avoid putting cybersecurity on the back burner. If you make online security a priority in your business, you will be able to achieve success (and less headaches) over time.
Final Words
If you are not fully aware of the dangers of cyberattacks, cybersecurity software can seem costly and inconvenient. Cybergangs attack businesses in an attempt to get money and information. Cybercriminals are attracted by businesses that have a high level of success and profitability.