Cybersecurity is important for all people. However, businesses need to take special care because it can impact their online growth. There are systems that can be used to help mitigate this impact, including a managed security service. There are a variety of cybersecurity risks, here are seven:
1. Inefficient Backup
One of the easier things to combat is backing up your data. If you fall victim to a cyber attack that wipes out your data, you might just go out of business. Therefore, making sure you have secure backups – in more than one place – is an essential step to take. If your backup is stored off-site and in more than one place, the chances of all places being corrupted are minimized.
2. Lack of Policies, Procedures, and Training
Employees need to be educated about the rules regarding various things when it comes to technology. For instance, they need to be instructed to never open an unfamiliar link in an email. They should forward any suspicious emails to the IT department.
Additionally, employees need to be warned about using their own personal devices for work. Using your own equipment opens a business up to many pitfalls. For instance, if the employee does a lot of their work, including email, from their personal tablet, what happens if they quit or lose the device. This can create an unstable network and an opportunity for a security breach.
Employers need to make sure they have policies in place that will outline what data the company has access to on the personal devices of its employees. This way, if the employee quits, they should expect to have certain information wiped from their device. These terms should be explicitly spelled out, along with any reimbursement for expenses that will be paid. Additionally, the company can always buy cyber liability insurance.
3. Lack of Manpower
Some companies do not put enough emphasis on the importance of cybersecurity. Therefore, they do not have dedicated personnel to properly look after the systems that are in place. Businesses need to understand that digital risks must constantly be re-evaluated, and processes updated to stay ahead of those who wish to hurt them.
It is important to try to get ahead of any vulnerability in the security system. And this means that developing technologies that can identify and eradicate attacks now, rather than trying to fix the problems a breach has already caused. And this takes staff and maybe even an outside company. Cybersecurity risk management ranks right up there with other strategic functions of the company. It can no longer be a second thought, especially as more and more business is done using technology. And the risk management team needs to know what new threats are out there and the solution to stopping them.
4. Outdated Technology
Using outdated technology to protect your systems is foolish. Everyday new technology is emerging, making what your business has obsolete. This leaves gateways into your system for hackers to take advantage of. Business has to maintain a budget, so getting the latest and greatest of technology or software is not always a reality. However, you cannot afford to fall back on a dinosaur system and expect it not to impact the business. So, there needs to be careful consideration about what needs upgrading and what can wait. Sometimes, seeking outside advice is the way to go. There are managed security firms that can provide you with the expertise and support to take care of some of this for the company, so you do not have as big of a financial hit when bringing your system up to date.
5. External Attacks
Methods of external attacks are numerous. Phishing, spear phishing, DDOS attacks, malware, and SQL are just a few. Most people have heard of phishing, but still, people will click links from strangers. These techniques release ransomware, that locks up the computers until the ransom is paid and the files are released. This can result in critical business dealings being affected and thousands of dollars of lost revenue.
6. Internal Attacks
Although not as common, the internal attack can occur as well. We all think of the disgruntled or disengage employee releasing a virus into the company’s computer system. Well, this can happen, and on a large scale. An example of this alleged internal attack was when Sony Pictures was attacked. Some people think it was an inside job. Whatever the case may be, businesses need to have contingency plans in place to deal with any breach of their system.
7. Lack of Knowledge / Managed Security
Fortunately, as cybersecurity has become an issue that must be part of a business’ strategic plan, companies have been formed to help in the fight. They can educate and help protect companies from cyber attacks and breaches in their systems. The managed security service providers specialize in helping your business achieve its necessary protection by determining the state of your security and outlining measures that need to be taken. And, because cybersecurity demands an ongoing, evolving monitoring, they can provide that too. These firms can help protect you from other businesses that you do business with (that might not take their security as seriously as you do). Managed security can help protect your company, and its revenues, from being prey to unscrupulous hackers and cybersecurity system failures.
Whether you have a small business or have a large corporation, cyber attacks serve as an equalizer. Any of them can be attacked. And the attack can cause havoc with your computers, data, customer orders, shipping, and every other aspect of your business. You are particularly vulnerable if your business is mostly web-based. This means that if they attack your website, you could go out of business, or at the very least pay a steep price for the incurred downtime. Taking precautions and even hiring a managed security company must be discussed as part of your business plan and strategic mission.