5 Methods to Protect Your Business from Cyber Attacks

Do you think that you currently do enough to protect your business from cyber-attacks?

Whether you have answered yes or no, the below statistics are likely to make you want to do more.

It can take 6 months for a data breach to be detected.

A business falls victim to a ransomware attack once every 14 seconds.

Nearly 50% of all cyber-attacks are targeted at small businesses.

The global cost of online crime is set to reach $6 trillion by 2021.

It’s a sobering thought, but if your business does become a victim of a cyber-attack, you may not have the resources to be able to come back from it.

In fact, 60% of small businesses fold within 6 months of a cyber-attack.

There are steps that you can take to help safeguard your business from cybercriminals. From making sure your remote workers are not putting your business at risk, to offering ongoing training on the latest cyber threats for your employees, keep reading to discover the top five ways that you can safeguard your business from a cyber-attack.

1.Keep your software systems updated

If you are prone to not updating your software systems to the latest versions, you could be putting your business at risk. The older the app, the more likely it will be targeted by a cyber-criminal.

If you already have anti-virus software, this should automatically update your software systems for you. However, if you don’t, it can be a good idea to schedule in regular updates so that you don’t forget and leave yourself vulnerable.

2.Implement KYC processes

KYC stands for “know your customer”. It refers to the process that a business uses to verify the identities of their customer and assess if they pose a risk to the business. By staying informed about KYC, you can ensure that you keep your business safe by flagging customers who could potentially threaten your business, while at the same time, ensuring that you do not alienate your customers with lengthy verification processes.

3.Empower your employees

It is a sad fact, but the bulk of cyber-attacks on businesses are a result of an employee’s mistake. That is why it is crucial that you provide your staff with ongoing training on the latest cyber threats, helping them to recognize common hacking techniques.

You can find e-learning tutorials that are specifically designed for employees who work in small and medium-sized businesses, allowing your employees to carry out their training from home if needed.

4.Safeguard remote workers

As more and more employees are enjoying flexible working hours and working from home where possible, businesses need to be conscious of the risks associated with unsecured home Wi-Fi.

If you do have a lot of remote workers, it can be a good idea to consider moving to a cloud-based security system that centralizes server security.

5.Apply strict password policies

Simply letting your employees choose whatever password takes their fancy, or the one that they know they will remember, which is probably the same password that they use for all their online activity, is a recipe for disaster.

Cybercriminals are sophisticated and will have no problem cracking your employees’ passwords if they are not strong enough or if they use one of the most commonly hacked passwords.

Making sure you have a strict password policy in place can significantly reduce your likelihood of falling victim to a cyber-attack.