Cybercrime stories are all over the news. Research company Statista estimated global cybercrime losses at a staggering $8.4 trillion. Fortunately, there are simple steps that any entrepreneur can take to keep their business safe. Here are six tips for keeping your company’s information secure.
1. Monitor Data Constantly
Data is at its most endangered when it is ignored. So-called “data silos” are a growing concern in business. Data silos happen when information becomes stuck in a specific department. Poor interdepartmental communication and IT management lead to information being stored and forgotten, leaving it extra vulnerable to breaches. Keep data monitored at all stages of acquisition and storage. Ask serious questions like “How can data transfer be safeguarded?” and “Exactly what is distributed tracing?” The first step to securing your data is caring about it.
2. Adopt a Zero-Trust Policy
A “zero trust” security architecture means always assuming the worst from strangers. This may sound paranoid, but it’s just a statement that trust must be earned. When someone new accesses your network, limit their activities to the minimum needed to accomplish their stated task. Keep an eye on their lateral movement within your network. Always insist upon rigorous verification standards for newcomers, too. Incorporating multi factor authentication (MFA) measures (such as combining PINs with security tokens) to create an extra layer of security. These seemingly onerous protocols can spare you many problems down the road.
3. Increase Staff Training
It’s not just guest users that might create problems. Well-meaning staff can inadvertently cause security breaches through neglect. A recent study found that approximately 85% of data breaches came from human error. The errors varied. Disengaged workers clicked the wrong button on an email. Some employees clicked on links loaded with malicious software (malware). One of the worst issues was scamming. Teach employees never to give out sensitive information over the phone or online. Train them to abide by the zero-trust protocols reflexively. Network security is only as good as the least knowledgeable person on the network.
4. Strengthen Encryption Policies
One action that everyone can take is to beef up encryption. Strengthening passwords is the first goal. Most passwords are woefully inadequate; this is backed up by research by GoodFirms, revealing that compromised passwords play a role in about 30% of breaches. Make them longer and mix numbers with letters and symbols, even if it makes the password harder to remember. Use a virtual private network (VPN) to encrypt your online communications. Encourage employees to avoid using unsecured public WiFi to do remote work. Encryption isn’t foolproof, but it’s one more barrier to cyber criminals.
5. Backup Data Securely
Nowadays, many companies back up data in the cloud as a matter of course. Cloud security measures are often formidable, but they’re not perfect. Storing your most vital information on an encrypted disc can be a worthwhile defensive measure. Saving data offline is also worth considering, and many options are available. Flash drives often come with biometric and other encryption systems. Keeping hard copy versions of records in a locked safe can bring much peace of mind. Make your data storage systems tough for potential hackers to locate or access.
6. Prioritize Crisis Response
Eventually, an attack is likely to happen. That’s why it’s crucial to have a response plan ready to go. The first step is to keep calm. Resist the urge to patch things up fast and instead take a systematic approach. Investigate everything completely. Follow your local reporting laws, which often vary significantly from state to state. Don’t let embarrassment keep you from calling in the experts. Above all, be honest and forthcoming with clients whose data might have been affected. Loss of reputation is one of the most damaging consequences of a cyberattack. Let your customers know you’re taking proactive steps to fix the problem.
It’s nearly inevitable that your assets will be threatened at some point. Putting strong defenses, countermeasures, and responses is how you turn a worst-case scenario into a manageable incident. Keep these tactics in mind when creating your cybersecurity plan.
