In today's digital age, cybersecurity is not just an option; it's a necessity!
Modern technology has made so many advances when it comes to running a business, but with those advances comes potential threat. And no-one is immune. We have seen massive data breaches from the likes of Optus, PlayStation, Medibank and Latitude finance in the past few years.
And it is not just the big companies that are at risk. Small business operators are also at risk, either through the cloud software systems they use, emails, phishing, websites or any number of other computing systems used by both large and small companies around the world.
Any digital information that your company creates, collects and stores needs to be protected. Most business owners are aware of this, but an alarming number of businesses do not have adequate policy or training around cyber risk and readiness. Your money, information, technology and reputation could be at risk.
Be Aware
The first step to becoming cyber ready is to be aware of your what systems you are using and their vulnerabilities. Take stock of which digital systems you are using. Create an inventory of your software and hardware assets. You may be surprised to find there are many systems or software applications that you were not even aware your business was using.
The next step is to look at the vulnerabilities. Which of the systems that you use could pose a risk to cyber security? Think about who has access to each system and how they are accessing the system. Passwords are a common issue as so many people use the same generic password for all their digital accounts.
It is also important to stay up to date on the latest types of cyber-attacks and scams. Learn what to look out for so you can stay clear of the latest trends in cyber-attacks.
Be prepared
How will your business respond if you are met with a cyber-attack? So many businesses wait until they must deal with a potential threat before they have any idea what they would do.
Ensure that you have anti-virus software installed on all hard drives and increase malware detection measures. If you are purchasing cloud-based software, identify any risk before purchase. We are often finding a solution to a particular problem and not looking at the fine print before we sign up. This could leave you vulnerable.
A Cyber Incident Response plan or policy would be and ideal way to be prepared. Ensure they are updated regularly and involve all the key contacts in case of a data breach.
Employee Training
Your employees should be trained in cyber awareness. This could be in-house or through a third party, but you need to make sure your staff have the proper education and tools to avoid risks.
It is not just about employees changing passwords, but being aware of what attacks could be happening. Do your employees know not to open links in suspicious emails? Do they know what to look out for when it comes to a suspicious email?
Think about the devices that employees are accessing information on. If you have work from home employees, is their hardware adequately protected? And with access to things like emails 24/7 on our mobile devices, ensure that there is protection in place for anyone who accesses important information remotely.
Update your systems
Ensure that you are always using the most up-to-date versions of your software. Do not ignore notifications from your operating systems when it comes to security. Ensure any firewalls, anti-virus software and your operating systems are all updated. Newer versions of software will patch out vulnerabilities that could be exploited.
Ensure that you are also using strong passwords on any cloud software that you use and that passwords are changed regularly. It may seem like a chore, but it can save you from cyber-attacks. You may also want to enable Two-factor authentication on your software. This enables a second barrier to your data through the use of needing a code send via SMS, email or a third-party authenticator app.
Get insured
Cyber insurance is a relatively new insurance product, however, it may be invaluable if you do end up under attack. Talk to your insurance broker about the pros and cons of obtaining cyber insurance.
As with most things in business, being cyber ready can seem like a massive undertaking, but with some knowledge and education, it can be done and you can limit your vulnerability to attack.
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