Steps To Protect Your Business From Cyber Threats

Gone are the days when cybersecurity was just an IT challenge. Today, everyone with a computer or device worries about cyberattacks. Phishing to DDOS attacks, most internet users need to know the basics of protecting their systems from cyber threats.

Even small businesses now believe it’s not only large enterprises that are targeted by hackers. They, too, are vulnerable if they don’t have sound cybersecurity policies and practices. Most breaches are due to people, so all businesses need to focus on cybersecurity training for their staff.

With digital transformation, the number of connected devices has also increased, leading to more cyberattacks. Moreover, new technologies such as AI, automation, and machine learning provide hackers with advanced methods for more complex attacks.

Recent global breaches in the security of business cost $4.45 million, an increase of 15.3% since 2020.

Businesses are facing new and changing threats every day. Hacking software is more advanced and increases the impact of security breaches. Hackers’ agendas include:

• Market manipulation
• Disruption of infrastructure
• Espionage
• Disinformation

Steps to Protect Business from Cyber Threats

Facing these developing threats is challenging for businesses. Executives look for solutions to improve their cybersecurity by building a team of experts on the new cybersecurity technology or hiring outside help. However, the primary thing a business can do is build an infrastructure with minimum loopholes.

Businesses must integrate cybersecurity practices in all their aspects, from the IT department to their employee training.

1. Secure Your Devices

Small programs containing malware can infect devices like computers, laptops, and mobiles. Installing security software for protection from this malware is essential. Some of the security software include anti-spam filters, anti-spyware and various anti-viruses.

Enterprises can also install a firewall to protect their internal networks. However, it is essential to update this software timely.

2. Back-Up of Important Data

Backing up the business website and data is essential to recover it in case of a cyberattack. Organizations can back up their essential data like financial records, customer records, business plans and personal information. To improve security on a higher level, enterprises can have multiple backup methods to secure their data. A good backup system includes:

• Incremental back-ups daily to a cloud storage device
• Server back-ups at the end of the week
• Quarterly back-ups
• Yearly back-ups

3. Manage Administrative Passwords

To safeguard against potential security breaches, enterprises must modify their default passwords and restrict significant administrative access.

It is important to note that hackers can obtain complete access to the system through an administrator’s account, thus necessitating robust and non-predictable passwords.

4. Use Two-Factor Authentication

Every day, there is new news of data breaches; thus, enterprises must plan and be ready for any sudden threat to their data. All the employees must use two-factor authentication to access all the essential business accounts.

5. Use Spam Filters

Prevent phishing and other malicious spam messages by using filters like AVG Internet Security.  We are all vulnerable to email phishing including management.  Never open attachments unless you are expecting them.  Plus offers and services that look too good to be true usually are and extra caution is needed with them.

Businesses use filters on their incoming mail however some of it will get through to your inbox. By applying filters to your laptop for your private email you are reducing the chance of being caught out by spammers.

6. Consult the FINRA Checklist

The Financial Industry Regulatory Authority (FINRA) created a very simple and valuable checklist for cybersecurity. It is a four-part list that focuses on planning, detecting, preventing possible threats, and recovering stolen assets from any cyber-attack.

7. Have a Strong Off-Boarding Policy

An enterprise must have a robust offboarding policy when employees leave. It helps mitigate the risks and potential cyber threats to the company. Employees must return their ID badges, mobile devices, and laptops when leaving, and the company email address should be removed.

8. Conduct Risk Assessments

Enterprises must conduct a cybersecurity risk assessment once every year. It will ensure that the mitigation of essential tasks is in place and the priorities and responsibilities are being made and completed. Risk management is an ongoing activity and should fall in the must-do category for all enterprises to ensure the security of the business.

Summary

The issue of cybersecurity has emerged as a major challenge for enterprises striving to achieve their business objectives.

Safeguarding resources and data has become a top priority in executive boardroom discussions. With the likelihood of cyber threats continuing to rise in the future, organizations must adopt innovative methods and technologies to fortify their businesses against such risks.