Being a small to medium sized business in the Digital Age has its fair share of benefits. You have the ability to stay connected, automate vital business functions and continue with business as (the new) normal during a crisis. Whether you handle your digital network internally or through a managed service provider, your business is sure to reap the network rewards. However, have you stopped to consider the cyber threats your business is exposed to in 2020?
Now we know what you are thinking – “but my business operates solely in the Windsor-Essex Community… the chances of my business being targeted are slim to none.” Unfortunately, let’s go over some stats that say otherwise.
- Authentic and new data breaches targeting small businesses increased by over 400% in 2018.
- 65% of small businesses failed to properly counteract in the event of a cyberattack.
- Human error and system failures account for over 50% of all cybersecurity breaches.
Source: GamTech
For this blog post, we are going to put the third cyber statistic under a microscope. What does over 50% of cybersecurity breaches being attributable to human error or system failures mean? The cybersecurity breaches were preventable.
What Cyber Threats Does Your Business Face?
The number of cyber threats that a business and its network face is ever-growing. As the value potential of cyber information continues to grow, so do the methods that hackers use to breach your cybersecurity for monetary gain. Some of the most common cybersecurity threats include:
- Ransomware: The restriction of access to vital business assets in exchange for a monetary value.
- Malware: Software designed to cause damage to vital components of a business’s network.
- Phishing Attacks: The use of impersonation in electronic communication to obtain sensitive business information.
- Fake Websites: The use of impersonation in websites to obtain sensitive business information.
What Is At Risk For Your Business With Poor Cybersecurity?
There are a plethora of risks that your small to medium-sized business is facing by having a poor cybersecurity plan in place. Some of the cybersecurity risks are inherently obvious, but others you may not have considered before today. The risks that your business face include (but are not limited to):
- Monetary loss through ransom payment.
- Hardware loss through software corruption.
- Access loss to vital components of the business network.
- Sensitive information breach and/or unwanted public release of information.
- Additional access to personal employee account information.
- Additional access to personal customer account information.
- Negative public perception and potential for legal action.
After reading about all the threats/risks that your business will face (even in the relatively small community of Windsor Essex County), do you still think your cybersecurity is sufficient? Do you think your internal awareness of cybersecurity is sufficient? Are you willing to bet your business on your current cybersecurity efforts?
What Steps Can You Take To Improve Your Internal Cybersecurity Awareness Today?
If this is your first time putting real thought into your business’s cybersecurity efforts, it can be quite overwhelming. You may be inspired to put boots on the ground and inspire some real change, right now. What can you do today that will instantly improve your business’s internal cybersecurity awareness?
- Implement Email Best Practices: Combat the inevitability of cybersecurity breach attempts through email by communicating best practices with your employees. Practices such as: separating internal and external emails, prohibition of all unknown email link clicks and keeping an updated SPAM filter.
- Educate Your Team: Ensure that your team understands what is at stake with a business’s cybersecurity. Highlight case studies to show your team how poor cyber habits cost other businesses and share examples of what an attempted cyberattack looks like.
- Implement Information Regulations: Create strict rules on when it is appropriate for an employee to give out personal, sensitive or business-related information through any form of electronic communication or online medium.
- Implement Browser Best Practices: Combat the inevitability of cybersecurity breach attempts through online websites by communicating browser best practices with your employees. Practices such as: firewall implementation, browser monitoring/usage limitations and education on online safety features (such as SSL).
- Implement Personal Account Regulations: Create regulations surrounding what personal accounts employees can and cannot access on the business network (such as personal banking and email accounts).
How Can You Further Improve Your Business’s Cybersecurity?
The previous section focuses on simple to integrate and actionable items to instantly improve your internal cybersecurity. However, this is just the proverbial “icing on the cake” of cybersecurity. If you are looking for more advanced methods of making your business secure, you can check AlphaKOR’s blogs on the topics of:
Furthermore, you can reach a cybersecurity expert here at AlphaKOR through the chat bubble in the bottom right-hand side of our screen or by completing our contact form.
Safe browsing!
The number one trick to a secure IT landscape is knowledge. Knowing what you’re up against and all the various methods of cybersecurity best practices is key to your success. We’ve put together a short eBook from our experts of 10 simple practices you can implement today to instantly boost your cybersecurity.
