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Steps To Protect Your Business From Cyber Threats

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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 of their staff.

With digital transformation, the number of connected devices also has increased, leading to a higher number of 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 over 1.3 million for a large enterprise and 117,000 dollars for small enterprise.

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 tough 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 need to integrate cybersecurity practices in all their aspects, starting 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 back-up 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

Enterprises must change their default passwords and disable major administrative access to prevent hackers from gaining access to the network. As attackers can gain full access to the system from an administrator’s account, one should ensure that such passwords are strong and cannot be easily guessed.

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 on their data. All the employees must use two-factor authentication for accessing all the important business accounts.

5. Use Spam Filters

Spam messages are sent by unknown companies or people and contain offers and services that are too good to be true. Organizations should use filters to reduce the amount of phishing and spam emails. By applying filters to these spams, one can reduce the chances of their employees to open the email by accident.

6. Consult FINRA Checklist

The Financial Industry Regulatory Authority (FINRA) created a very simple and valuable checklist for cybersecurity. It is a four-part list which focuses on planning, detection, prevention of possible threats, and recovery of stolen assets from any kind of cyber-attack.

7. Have a Strong Off-Boarding Policy

An enterprise must have a strong offboarding policy when employees leave. It helps mitigate the risks and potential cyber threats to the company. At the time of leaving, employees must return their ID badges, mobile devices, and laptops, 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.

Cybersecurity has become a significant complication in the sprint of enterprises towards their business goals. Protection of resources and data now tops the list of executive boardroom meetings.

In the future the chances of cyber threats will only keep on increasing, which is why organizations need to implement new methods and technologies to protect their businesses.