It’s no wonder that cybersecurity threats are among the biggest threats to businesses, given that nearly all company transactions and interactions take place through our computers and data systems. While the internet allows you to reach a larger client base, it also exposes you to scams and security threats. That’s why it’s critical to understand how to strengthen your company’s cybersecurity.
Hackers are more likely to target small businesses rather than large corporations for an attack, primarily due to the fact that many small businesses lack proper security and prevention practices. In the event of a breach, your company may suffer financial losses as well as information and, most importantly, customer relationships.
The most terrifying aspect of data breaches is that most businesses aren’t even aware that they have occurred until long after the event has occurred. Preventing cyber incidents involves more than just information technology; employee errors are responsible for approximately 90 percent of all data breaches. When you train your employees properly as well as invest time and resources into keeping technology up to date, you can reduce your desirability to hackers, thereby keeping your company safe from cyber risk and reducing the likelihood of a data breach.
How to Improve Cybersecurity in Ten Steps
Rather than thinking about cybersecurity as something that will happen “if” it happens, it is best to think about it as something that will happen “when.” It is much easier to avoid a situation than it is to clean up the mess it leaves behind after it has occurred.
Here are Ten suggestions for improving cybersecurity:
1. Establish simple central points of contact for advice.
IT guardians or mentors could be appointed to act as a link between various business functions and information technology, as well as to provide informal advice. It could be something as simple as creating an email account.
2. Educate your team on how to identify cybersecurity red flags.
Poor quality logos, spelling mistakes, time constraints, bogus domain names, mismatched sender details and other issues are examples of what you should avoid when sending an email.
3. The use of passwords
Someone reusing the same password for multiple accounts or all accounts is one of the most common reasons for a cybersecurity breach, and weak passwords are one of the most common causes. According to the results of a survey conducted by Specops Software, 51.61 percent of respondents share their streaming site passwords, with 21.43 percent of respondents unsure whether those passwords are then shared with other individuals.
4. Make use of multi-factor authentication (MFA).
Multi-factor authentication refers to the requirement of at least one additional method of personal verification in order to gain access to software or complete a transaction.
This could be as simple as entering a memorable word or using a passcode from a text message or a dedicated App to accomplish the task.
5. Make sure your software is up to date.
Keep an eye out for software that is not available across the company or that is only available on mobile devices. Patches to fix security issues are released on a regular basis, and failing to apply them leaves you vulnerable.
6. Only approved connections and devices were utilized.
This has become a greater threat than it has ever been, thanks to the rise of hybrid working. Employees are increasingly spending more time working from home or on the road. When they are at home, they may be tempted to use their own devices or connect to networks that are not protected.
7. Purchase web domains that are similar to yours.
If you want to reduce the likelihood of customers, suppliers or members of your team being duped by emails from spoofed addresses or links to spoofed websites, consider purchasing similar domain names.
8. Separately store important personal verification information.
Ascertain whether or not appropriate technical or organizational safeguards are in place to protect personal information. This has the potential to prevent cyberattacks and reduce their impact (e.g. by storing CVV codes separate from other card information).
9. Conduct a vulnerability assessment of your systems.
What flaws do your own systems have that others don’t know about? Do you have any idea? If there is some slack or respite from “business as usual” tasks, now might be a good time to beef up security, secure the parameter, and conduct penetration testing. Sounds like a wise investment, doesn’t it?
10. Set forth clearly defined procedures with clients and suppliers.
It is used for contacting new clients and suppliers, as well as information sharing. When making significant changes in terms, payments, or other terms, insist on direct communication from named personnel or codewords.
Maintain strict due diligence and vetting procedures prior to granting access to any third party to your premises to avoid the possibility of physical threats.