Modern technology offers many benefits and conveniences, but there are people who misuse it, putting businesses at risk. Data breaches can have a far-reaching effect and impact not just organizations but also their customers, suppliers, and partners. Experts expect cybercrime to cost the world $10.5 trillion by 2025.
Hackers do not discriminate. They have attacked Royal Mail, a hospital in Barcelona, and even a country (Estonia)! A cyber attack can destroy your business reputation and make you spend lots of time, money, and resources to fix it. Reduce your cybersecurity risk by doing this:
1. Encrypt Data and Create Backups
Saving data in normal-text format makes hackers’ job easy. Encrypt your data to ensure that only people with the encryption key can access it. If unauthorized parties gain access to the data, they can’t read it. Also, regularly backup your important information, as cybersecurity breaches can cause data loss. Data loss can disrupt operations and make you lose a lot of revenue. Use the 3-2-1 rule for data backup. Store at least 3 copies of your data. Store 2 of them on different media and 1 in an offsite location.
2. Use Strong Passwords
This may seem obvious, but over 80% of organizational data breaches are caused by weak passwords. Hackers only need a small gap to gain access to your systems. Simple passwords don’t work anymore, use complex passwords and multi-factor authentication to prevent cybercrime in your organization. Also, inform monitor employees that password sharing can put the company at risk, so they should avoid it. Lastly, encrypt all your passwords.
3. Train Employees Regularly
Billions of phishing emails are sent globally every year and are often hard to detect as they look legitimate. If employees click on the links in these emails, they give hackers access to sensitive company data. Conduct cybersecurity awareness training regularly so employees know about cybersecurity attacks and how to prevent them.
For example, if your company is buying cars and applying for pre approval car loan, make sure your finance team knows not to click on legitimate-looking emails with suspicious links that may give hackers access to company data. They should use trusted devices and browsers to search for legitimate companies in your region that offer pre approval car loans.
4. Update Systems and Software
Run software updates on time and, if possible, automate the process. Software and system updates greatly impact your digital safety and cyber security. They fix bugs and patch security vulnerabilities that can be exploited. Stay updated on the latest patches and install them as soon as they come out. Threats are usually created in response to new patches, so installing updates is necessary.
5. Use Firewalls and Antivirus Software
A robust firewall creates a barrier against threats like Trojans and ransomware, while antivirus software protects your organization against viruses and other malware. A firewall protects you against external threats, while antivirus works on threats that have made it into your network and could compromise your systems and data.