As more companies embrace remote working and extend most operations online, they’re exposed to cyber-related risks. Cyber attackers have taken full advantage of the digital transition, which explains the increased rate of cybersecurity breaches in small and medium-sized companies. In fact, ransomware cost the world $20 billion in 2021 alone, and the number is projected to hit $265 billion by 2031, according to Cloud Wards 22 statistics. So how can you protect your business from cyberattacks? Luckily, there are many ways to tighten security in your company. Here are the top safety practices to help protect company data and improve overall security for your business.
1. Invest in Employee Training
Human error is the most common cause of data breaches in many organizations. Training your employees to be cyber-vigilant and creating a security-focused workplace culture is the most significant step you can take to counter cyber-attacks. You can start by educating your staff on the dangers of using unsecured networks, the value of maintaining good passphrases and passwords, how to identify and avoid cyber threats, and what to do when faced with a cyber threat. You can also train your team to use various security software for their personal devices and work computers. Discourage password sharing and develop a password and passphrase policy that allows your employees to change passwords periodically. For instance, you can set the system to lock all computers every one or two months to allow your employees to change their passwords.
2. Encrypt and Backup Your Data
Encrypting and backing up your company’s data helps you recover any information you lose in case of a cyber-attack. Use full-disk encryption to protect all your computers, smartphones, and tablets. Save copies of the encryption password or key in a location separate from stored backups. The simplest way to do this is by writing down the password on a piece of paper and storing it elsewhere. You can also save it offline somewhere on your phone or computer. Consider multiple backup methods that allow you to share daily, weekly, monthly, and yearly server backups. Be sure to check that you can restore data from backup and make it a habit to back up the data in an external drive or portable device like a USB stick.
3. Secure All Work Devices
Always update your operating system and security software automatically based on your preferred settings. Updates often contain critical security upgrades for recent attacks and viruses. Most systems allow you to schedule the updates at the most convenient time. Securing work devices also means securing your staff’s devices. If you have employees working from home, it’s essential to ensure they keep up with the security measures you’ve put in place to prevent infections and malware attacks. Make sure your employees don’t use work passwords or computers to log in to their personal social media accounts.
4. Use Multi-Factor Authentication
Multi-factor authentication allows you to provide two or more proofs of your identity before accessing your account. For instance, you can set your accounts to ask for a password and a six-digit code sent to your email or phone. Multi-factor authentication provides an additional layer of protection before granting access to an account, making it hard for cyber attackers to gain access to your device. If they can crack your password, they might not be able to get the code sent to your phone as it changes after a few minutes.
5. Monitor the Use of Computers and Other Worn Systems
While your employees can do a good job keeping work computers safe after training, you don’t want to let your guard down. Keep a record of all the equipment in your company and the software in your business. Make sure they’re updated on time and secure enough to operate safely. You can also install security software that prevents your employees from clicking or responding to phishing links and emails.
6. Replace Passwords With Pass-phrases
While passwords can be efficient at keeping cyber attackers away, the development of passphrases has made the logging-in process much more straightforward and safer. You can adopt passphrases for all your company computers and other devices that require passwords. Passphrases are simply a collection of words or a collection of passwords. Like passwords, passphrases should be long, complex, unpredictable, and unique. Create new phrases for each account to avoid putting all your accounts at risk. Consider using a password manager to help create and store passphrases for you.
7. Limit Employee Access to Critical Data
While they’re rare, in-house cyber-attacks do happen. When they do, they can harm your company beyond repair. That’s why it’s essential to know that not all employees should be trusted. Sometimes, it’s pure human error due to lack of knowledge, carelessness, or computer error. For this reason, you want to limit the amount of information your employees can access. Only give access to admin accounts to one or two most trusted individuals to handle specific tasks, especially if you’re away.
8. Consider a Cyber-Security Insurance Policy
Cyber security insurance helps compensate your business for the financial losses resulting from cyber-attacks. Coverages vary from one provider to another. You can choose the security threats you feel are likely to affect your business and get maximum coverage. Cybercrime can be costly as it is more than repairing or strengthening computers. Don’t forget to read through your policy to understand what’s included in each coverage.
