Companies must adapt to the development and evolution of technologies and ensure their security by preparing for cyberattacks. The 2018 State of Cybersecurity in Small and Medium Businesses survey conducted by the Ponemon Institute and sponsored by Keeper Security found that only 28% of small and medium-sized businesses consider themselves being « very effective » to protect against risks, loopholes and attacks.
As cyberattacks are on the rise, it’s not enough to simply react to it and repair the damage. It is now necessary to adopt a proactive rather than a reactive attitude. That’s why it’s essential for companies to know the appropriate steps to properly prepare for a cyber attack. Yet almost half of the respondents, 47%, admitted they did not know how to protect their business from cyber threats.
Here are some key steps you can take to prepare your business for the potential of a cyberattack:
Before you can take the necessary steps to protect yourself from cyber threats, you must first know the flaws in your business. A security audit will identify the IT weaknesses of your business and determine what needs to be done to better protect your business from potential cyber attacks.
Offer cybersecurity training to your employees
According to the same study, 60% of respondents who were affected by a privacy breach revealed that the negligence of an employee or a consultant was the cause. That’s why it’s especially important to educate your employees about cyber risks and the strategies that hackers can use to access corporate data. Every business should develop a cybersecurity policy that is appropriate to the nature of its business and the types of data it collects and stores. You can then integrate it into the employee’s manual and present it during the training courses you offer. Cyber security training should be provided at least once a year so that you can educate your employees about new threats and ensure the safety of your business as much as possible.
Use complex passwords
The weak passwords used by employees can be a major loophole in a business. In the Ponemon Institute study, 40% of respondents mentioned that their company had been the target of an attack aimed at compromising employee passwords in the past year, the average costs resulting from such an attack were rising to US $ 383,365. They also said that the two main irritants related to passwords were the management of stolen or compromised passwords (68%) and the use of weak passwords by employees (67%).
For this reason, employers should ensure that their employees use complex passwords and take advantage of password management tools to store them securely. Employees should also periodically change their passwords to help protect the company’s data and use a different one for each of their accounts, if possible. In this way, you will prevent all of an employee’s accounts from being compromised if one of his accounts is hacked. Some companies should even consider integrating two-element authentication for accounts linked to financial, personal, or sensitive data.
Use technological protection measures
In order to better prepare your business, you can purchase the most modern technologies that will help protect your data against potential harm. As a starting point, you can install firewalls and anti-virus and anti-spyware software on your employees’ computers.
However, to protect the data of your company, you should not make efforts in the office. Given the growing popularity of teleworking programs, it is essential to ensure that all devices that your employees use remotely are also protected. You should set up a virtual private network (VPN) so that employees working from home can connect to it to browse the web and check their email and not have to connect to public networks unsecured.
Develop an incident response plan
Even after taking all possible precautions, a cyber attack can occur. That’s why it’s important to have an incident response plan in place. So, if your business is the victim of a cyberattack, you will know exactly what to do. This plan should include different pieces of information, such as the name of the decision makers assigned to your business and the notices to send to users and affiliates, for example.
Get a cyber insurance
If your business is the target of a cyberattack, the last thing you want as an owner is to assume the financial burden of this incident alone. Cyber attacks can cost a fortune and tarnish your reputation. That’s why insurance designed specifically to better protect you against cyber attacks is essential.
E-Insurance does not only help you during a cyber attack, because the consequences of such an incident can take a long time. In addition to having to recover your access and lost information, you may have to repair your network, cope with legal actions, and use public relations services to help restore your company’s reputation and regain trust. of your customers. Given the magnitude of such consequences, it could take days, weeks, or even months before your company’s operations return to normal.
To learn more about Federated Insurance’s cyber insurance, visit our insurance page today!
This post is for informational purposes only and is not intended to replace professional advice. We make no representations or warranties as to the accuracy or completeness of the information contained herein. We will not be liable for any losses that may result from the use of this information.