Is Your Small Business Prepared for a Cyber Attack?

What is a cyber-attack?

A cyber-attack is any incident in which an unauthorized party gains access to the network or computer data. There are different ways to do this and different results, but they all have one thing in common – it is expensive, upsetting, and upsetting when your company is a victim.

According Report 2019, the most common concern for companies about a cyber-attack is that the company’s email address has been compromised, which can lead to phishing and spear-phishing attacks. With these types of attacks, hackers gain access to your network by sending malware-infected emails that appear to be from another employee or by stealing money directly from a supplier. Enter and send an email with a payment request.

The second type of attack that is of greatest concern is ransomware. Hackers infiltrate a company’s computer network. They can block the system and prevent the company from doing business. Or they threaten to disclose confidential information, such as customer data or information about products that have not yet been disclosed. The hacker claims to save the company in exchange for launching the system.

What is the likelihood of an attack?

53% of American companies suffered a cyberattack last year, a significant increase from the 38% who reported an attack last year. More than a quarter (27%) of companies have suffered four or more attacks in the past 12 months.

The average cost of a single cyber-attack in the United States is $ 73,000. The cost of all attacks that the average American company has suffered in the past 12 months is $ 119,000.

Why would hackers worry about attacking a small business?

Hackers are opportunists and often start a large network to see what they capture. In many cases, small businesses have less control, making hacking easier. And many companies are at risk due to the security deficiencies of the suppliers or suppliers with whom they do business. 57% of American companies said they suffered a cyberattack as a result of an incident in their supply chain.

What can companies do to protect themselves?

1. Conduct a cybersecurity audit

If you plan to improve cybersecurity in your small business, the first step is to make an honest assessment of where you are. Conducting a security audit is the first step in developing a plan to improve your resiliency in the event of a data breach or other cyber-attack. Once you have a better idea of   where your strengths and weaknesses are, you can follow the steps below to improve.

2. Use a firewall

It may seem like conventional wisdom, but it is shocking how many companies have not taken the first step to protect their network by running firewall software. The market is busy, so check your options before deciding which one to use. In addition, your security software is as good as your updater – if you are not aware of installing patches when new vulnerabilities and attacks are discovered, it is best not to use them.

3. Review your security procedures for departing employees

A surprising number of hacks and attacks come from disgruntled employees who can still access a company’s system through old credentials that have never been deleted. This type of data can be easily distributed among devices in today’s digital landscape, so use a password manager to control everything. Create processes to immediately remove access from anyone who needs to leave your team, whether an employee or a supplier.

4. Train employees in best practices

You need to make cyber security part of your corporate culture if you want your employees to help prevent hacks, rather than involuntarily involving them. Phishing, urination, and other social engineering attacks take advantage of the fact that people can be exploited much more easily as a well-protected network.

Your employees need to know what the dangers are and how to recognize them. Invest time now and you will no longer have to respond to a costly data breach in the future.

5Make cyber security part of your integration process

As with training, it is especially important to set the tone for new hires that your small business values security. Make sure you take the time to post new jobs on the same page, especially if they make important decisions, like choosing the registration rules.

What you can do today to prevent your business from a cyber-attack

With increasing data breaches and cyber-attacks, make sure your small business is ready for whatever happens. Take time to protect your network, align your employees, and plan likely scenarios now. Better to have a plan you don’t need to use than not to have it when you really need it.

● Conduct a security audit to understand where further improvements are needed.

● Help your employees help you with password training, integration, and best practices.

● Recover devices and use a firewall to make your network a protected target.

● Make a plan now to deal with violations and practice how to do it.