The Importance of Cyber Security for Businesses

Protect your business against cybersecurity threats and make the most of online opportunities!

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Ramzi Chamat / 8 Ways Media
2019-10-02 09:00:00

The importance of cyber security in business should never be overlooked, as year upon year, cyberattacks are occurring at an alarming rate across the globe.

According to statistics, the larger the business, the more likely it is to experience an attack. However, this certainly doesn’t prevent small to medium sized businesses from being at risk. No business with an online presence is immune to a cyber-attack, and the financial, physical and legal implications of an attack on any business can be absolutely devastating.

In the last few decades, technology has become integral to the workplace. We’re now living in a more technologically-advanced world which, though advantageous, exposes us to heightened risk of cybercrime. In the U.S., more than 4,000 ransomware attacks have occurred on a daily basis since 2016 – a 300% increase from 2015. Meanwhile, approximately 130,000 UK businesses suffered some form on cyberattack in 2018.

Measures every Business Should Take

Technology

Every business with an online presence needs to invest in advanced cyber security measures, including firewalls, encrypted connections, data leak protection and ransomware protection. Strong spam filters should be configured to prevent phishing emails from being delivered to your employees, prevent email spoofing and scan incoming/outgoing emails. Anti-virus software should also be used and regularly updated to help secure endpoints.

Data Backup

Your data must be backed up on a regular basis. This simple step reduces the risk of losing everything if your system fails or a hacker takes your system hostage. Company-confidential and sensitive files should be backed-up in a remote and unconnected storage facility (such as offline backups.) Good backups could reduce the need to pay a ransom.

Awareness, Preparation and Investment

It’s no longer realistic to expect an IT department to mitigate all IT security risks. Your entire team must be trained to increase their awareness of specific threats (including phishing and spear-phishing) and reduce the likelihood that they will fall victim to social engineering attacks.

Passwords

One of the biggest cyber security threats to affect businesses worldwide is weak passwords. Some typical characteristics include short length, obvious characters/numerals and simple passphrases. Enforcing stronger passwords is an easy way to implement stronger security measures within your business.

Incidence Response Plan

An incidence response plan is a key component of a data governance programme that can help to reduce the cost of a data breach. It should include:

Identifying your last-known clean backup and restoring it

Communication protocols with law enforcement

Isolation procedures for the infected PC

Isolation procedures for devices that have not been infected

Are you implementing any of the above measures?

When businesses have an awareness of the implications and are well-equipped and prepared, they can more efficiently deal with a threat in the unfortunate event that it occurs.

Whether yours is a multinational corporation, a mid-size company or a local business, you can never be too prepared for a potential cyber security breach.

Are you concerned about data security? Then contact the 8 Ways Media team today to discover how we can assist you with data protection, brand protection and more.

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