Once upon a time, cybercrime was something we heard about on the news or watched funny movies about, but not something we had to deal with in our everyday lives. Unfortunately, that is no longer the case. Cyber attacks are a daily occurrence these days. What’s even worse is that protection from cyber attacks isn’t a one-size-fits-all solution anymore. The anti virus software you use at home, for example, is not going to be on the same level as a corporate anti virus solution. And the more sensitive the data your business handles, the stronger the protection you’ll need.
Cybercrime is on the rise, and every day more and more individuals, organizations, and businesses are in danger of becoming victims of yet another cyber attack.
Everyone can become a victim as fraudsters do not discriminate between their targets. Small business or big; it’s all the same for them as they can find profit anywhere.
Along the way, cybersecurity stopped being an option; it’s now a must. One way a cybersecurity company like SEON conducts KYC checks is through the implementation of various methods to filter out suspicious user activities.
Following the following eight pieces of advice, you’ll begin taking the proper steps towards the online security of your business.
1. When cyber attacks strike, know what you are dealing with.
Not every business faces the same challenges, so the best way to protect your company is by learning what your biggest challenges are. The most common cyber attacks targeted at businesses are:
- data breach;
- identity theft;
- account takeover;
- chargeback fraud;
- CNP fraud; and
- phishing attacks.
All of these attacks are different, but they have the same consequences: enormous financial and reputational damage to the business.
Most business owners see no problem in learning anything they can about marketing to ensure they have the best marketing strategy, while they would never consider investing their time in cybersecurity.
That needs to start changing.
2. Conduct a cyber security audit.
You need to know where you are now to know where you are going.
Analyze your current cybersecurity situation honestly. Once you discover your weaknesses and strengths, it will be easier to decide what is the next step you need to take.
It will even give you a chance to patch up any vulnerabilities you find before cybercriminals get a chance to exploit them.
3. Use a firewall and antivirus programs to ward off cyber attacks.
While this seems like a no-brainer, you would be surprised how many businesses don’t have this step in place.
From malware to viruses, many threats can be prevented with the simple use of firewalls and antivirus programs.
It’s a lot cheaper to prevent a cyber attack than to deal with the financial repercussions.
4. Implement additional cybersecurity tools.
Utilizing firewall and antivirus programs is already a great step in the right direction, but it is not enough.
To ensure your business is protected from various other types of cyber-attacks, you should implement additional cybersecurity tools, such as IP analysis, KYC verification, or data enrichment.
5. Update all your devices regularly.
Making sure all of the devices that have access to your network is an essential step in ensuring the safety of your business.
Cybercriminals constantly try to find security vulnerabilities in different programs so they can use them for their malicious purposes.
Updates patch up these vulnerabilities, removing any points of access for cybercriminals.
6. Raise awareness of cyber attacks within your company.
Employees are one of the most significant risks for your company as human error is one of the most common causes of cyber-attacks.
This can be anything, from using a simple password to leaving a work laptop unattended in public space or even falling victim to a phishing attack.
Educating your employees about the risks and raising their cyber awareness levels can help mitigate this and reduce the risks for your company. Some companies that recognize the risk are incentivizing current employees with a similar background to continue their education by taking courses, attending seminars, earning a certificate in cybersecurity, or pursuing a full-on degree program to stay on top of the growing threat.
7. Introduce and enforce password policy.
You should implement a password policy with your employees and your customers.
Simple and reused passwords facilitate cyber attacks such as identity theft, account takeover, and even a data breach. Just imagine how easily the fraudster can get access to all of your accounts if you keep using the same password for all of them.
By introducing a password policy, you are instructing your users not only to implement strong passwords but also to use them properly.
8. Back up your data regularly.
Backing up your data needs to become a norm not only for businesses but also for individuals.
This ultimate recovery tool can be the only thing stopping you from losing all of your data due to a cyber attack or some other emergency.
Cyber attacks have become a part of our reality, but that doesn’t mean we have to accept them without a fight. Follow this advice and protect your business.