Protect Your Business from Cyber Attacks

The internet has opened doors to new opportunities for businesses. Thanks to the internet, today, you can start your business with limited capital. The internet has also helped improve marketing outreach, making it possible for businesses to target consumers from different nationalities and demographics at a fraction of the cost of traditional methods. Despite these benefits, the internet is far from being a dreamland many people imagine it to be.

The internet is full of shady, dark alleys that are used as a refuge by cybercriminals. Hackers stay put in these dark alleys, waiting for their opportunity to pounce on their victims. And when they finally have their chance to execute their plan, these scamsters ensure to suck every ounce of financial lifeblood from their victim’s body (their business) leaving them high and dry.

Cybersecurity threats in numbers

Cyber attacks can deliver a major blow to an organisation’s financial health. Studies show that on an average, a successful cyber attack costs a business $2.4 million. In the UK, small businesses hit by cyber attacks are forced to spend £25,700 in clean-up costs. Further, on average, a business takes 50 days to recover from a cyber attack.

According to a study, a cyber attack is executed every 39 seconds. And if you think that only MNCs are the targets of these attacks, think again! A study reveals that 43% of cyber attacks are directed towards small businesses. The situation is getting grimmer with each passing day. With the average cost of a data breach predicted to increase to a whopping $150 million by 2020, now may be the best time to act.

Cybersecurity tips for businesses

1. Train your employees

Studies show that around 95% of security breach incidents are a result of human callousness. Often, hackers use various methods to manipulate employees, coaxing them to open a malicious link or visit a phoney website that is specially created to execute a cyber attack. When an employee falls into this trap, all hell breaks loose. The hacker uses the window of opportunity to get into the business’ systems, and before the incident response teams can react, the scamster disappears into one of the many dark alleys of the internet.

To address this problem, educate the members of your IT support team in London on the importance of cybersecurity. Train them to identify and steer clear of cybersecurity threats. Conduct workshops by industry experts at regular intervals. Instruct your IT support team in London to conduct regular sessions on evolving cybersecurity threats. Make it mandatory for HR managers to brief new employees about corporate security policies. To check your staff’s preparedness, conduct mock drills at regular intervals.

2. Use anti-malware

Most cyber attacks involve installing malware on the business’ servers. To gain access to critical systems, cybercriminals exploit chinks in their victim’s cybersecurity armour. Anti-malware plugs these loopholes, making it difficult for a hacker to execute their plan. A good anti-malware can discourage and frustrate even determined cybercriminals, who would prefer spending more time and efforts to enter a system that is less secure.

To address evolving threats and security issues, get updates as and when they are available. Check your patches regularly for vulnerabilities. Instead of waiting for too long to fix these loopholes, address them in a timely fashion.

3. Encrypt and backup your data

No matter how effective your cybersecurity strategy is, you can never rule out the chances of a determined cybercriminal finding a way to circumnavigate security measures. In addition to securing your systems, you should also come up with a strategy to ensure that your data, even if it falls in the wrong hands, cannot be used by the cybercriminal. Data encryption helps you exactly achieve this objective. Encrypt all your sensitive information including employee and customer details and critical business information.

4. Provide selective access to sensitive information

Make sure only employees working on critical systems have access to that particular system. Have a procedure in place to monitor the activities of people with the most access. Use tools that can generate an audit trail, helping your managers find out who accessed a particular system and when.