In 2019, every 14 seconds, there was a ransomware attack on a business somewhere. These attacks increased in 2021, and malware hit companies every 11 seconds. Cyber attacks have become stronger and more advanced, making it more difficult to protect your business.
Some of you might be of the view that it is only large corporations and big brands that face the brunt of these attacks. But, in fact, the target of 81% of all cyber security breaches were small and medium-sized businesses. Mostly, small and medium-sized companies are never ready to combat these attacks because of the constrained security budget. So they are often taken by surprise.
But there must be some way to protect businesses from these attacks, regardless of their size. This article elaborates on ways to ensure the safety of your business operations against cyberattacks.
Here Are Some Useful Ways To Protect Your Company From Cyber Attacks:
1. Have unique username and passwords
For simplicity, businesses often keep one username across all their accounts. Having one username for all accounts is easy to remember, but they make your systems more prone to cyberattacks.
The hacker only needs to know that one username connects many different business accounts. The same is the case with passwords. Most of you might be using one password for all your accounts. But IT professionals strictly discourage this behavior as this practice makes your accounts more susceptible to cyberattacks.
Therefore, having unique passwords and usernames is indispensable. You can create your own username or take the service of an online username generator. One such website is 1password.com. Just visit “https://1password.com/username-generator/” to get started.
2. Have updated software
A company uses various software for various operations, including managerial, financial, design, marketing, etc. You must ensure that all your company software is updated regularly because outdated software and applications are more prone to cyberattacks.
The reason for this is over time, these applications develop loopholes that make them more vulnerable. Hackers exploit these loopholes, access your company networks, and steal important data and information. Hence, small negligence on your part can cost a lot to your business.
The loss of important data is often a big stain on a company’s reputation. So hire IT, experts, to keep all your major company software updated. However, if you own a cash-strapped startup with little to no employees, then you must be vigilant about this detail yourself.
Always check for software updates and new security patches at least twice a week. And apply the required security patches and updates across all the devices used in your company.
Related: Understanding Patch Management And IOT
3. Create data backup and enable data encryption
Data backup is your plan B in case of loss of data. And data encryption remains the best strategy to protect your data from any cyberattacks. In the presence of both of these data security measures, you enable double protection for your data.
The right way to apply these security measures is to encrypt your data and create a backup. In this way, even if your important company information gets wiped out due to a software or hardware malfunction, or you fall prey to ransomware, you will still have a way to recover the information.
To encrypt and backup important customer information, the company’s financial records, any important trade or product secret such as unique ingredients, employment information, etc.
4. Limit access to important company information
Not all employees need to have access to all the business information and systems. Therefore, give your employees limited access to systems and business portal applications. It is because human error is the biggest threat to your data. Unauthorized and untrained people can put important data in harm’s way due to ignorance and lack of information.
If any employee with access to company systems and information leaves the company or gets transferred to another location, take protective measures. Restrict their access to company systems, remove accounts, delete passwords, and collect employee IDs and badges.
5. Install software and hardware firewalls
Firewalls are very beneficial in thwarting malicious cyberattacks. Firewalls also restrict employee access to risky websites that can corrupt your systems. All the devices in your company, including employee computers, tablets, laptops, and smartphones, must have firewalls installed and activated.
These firewalls must also be installed on the devices of remote employees, those who use VPN (Virtual Private Network) and CSP (cloud service provider). Apart from firewalls, there are Intrusion Detections/Prevention Systems (IDPS) too, which you can install for added security.
6. Give training to your staff about cybersecurity best practices
You might know the famous cybersecurity saying that your system is as secure as your least informed employee. Quite often, one of your ill-informed employees unintentionally helps hackers by using a weak password or not caring about software updates and firewall protections.
Therefore, it is essential that all your employees know the importance of cybersecurity and how hackers can trick them into creating a security loophole. The employees might not even know they have already shared sensitive company information through a suspicious email or phone call. So you must train them on how they can keep company data and information safe.
7. Implement multi-level authentication
You must have stringent Multi-Factor Authentication (MFA) systems in place in the company. MFA is important because it forces users to pass multiple security checks before accessing the system or a device. The user must provide two or more security-related verification factors to access resources such as emails, company portals, or a VPN.
8. Conduct security audits regularly
Though it is impossible to eradicate the risk of a cyberattack, you can still protect your company by constantly watching out for such threats. You must put strict security measures and review them regularly to assess the extent of cyber protection your company enjoys.
Frequent security checks can help assess the effectiveness of your security measures. One way to do this is through penetration testing, which provides consistency, addresses vulnerabilities, and provides in-depth testing. By identifying and addressing potential issues early, you can prevent them from developing into bigger problems and compromising your security.
Conclusion
Businesses are constantly the target of cyberattacks done to access or eradicate important company information. Therefore, you have to review and update your data security measures continually. You must ensure that your company has a foolproof security system and cybersecurity strategy.
You must see that all company software and systems are updated, employees know the craft of data protection, and multi-level security systems are in place.
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