Cybersecurity - Is your digital door secure?
While it’s common to assume that cybercriminals only seek out large organisations and large paydays, attacks on small businesses continue to rise. In fact, small businesses and organisations make up 43% of cybercrime victims, and the average cost of these breaches are between $36,000 and $50,000.
In 2019, 1 in 3 Australians were affected by cybercrime, and of the small businesses which experience a breach, 22% of them were unable to continue operations. This blow to the economy, and our back pockets, is why it’s important to be vigilant, aware, and keep security front of mind.
It’s time to keep your digital door locked, so read on to learn more.
Why is cybersecurity so important?
Your business is only as secure as its weakest link, so it’s important to ensure your entire organisation understands how to remain secure, and how to spot any potential threats. Small business cyber attacks can actually be extremely lucrative for criminals, as they don’t require sophisticated tools or processes to make a breach, as small businesses are generally less secure and more vulnerable to an attack.
Cyber attacks can put your money, data, and IT equipment at risk. A significant amount of damage can be done if a hacker gains access to client and staff information, credit card information, banking details, product designs, and manufacturing processes. Not only does a hacker pose a risk to your business, but they can use you as a stepping stone into accessing other people or businesses within your networks. The knock on effect of such can cause both financial and emotional damage to you and those around you. Coupled with this, the reputational damage a brand can incur from a cybersecurity attack can be devastating.
What are the most common cybersecurity breaches?
The most common types of attacks are malware and phishing, which are both often sent from what looks like a legitimate source.
We’ve all received an email at least once from a royal prince in a far-away land claiming to have millions of dollars for us. Most of us can spot a fraudulent email such as this from a mile away. However, emails often provide the first breach of security because they are widely used to send invoices, banking details, and personal information. Cyber criminals have made advancements in the way they craft and deliver an email, where those who are less informed can easily fall for the trap. The tell-tale signs of an attempted cyberattack are misspelled words, uncommon phrasing, or requests from the sender to provide information or perform an action which is not commonly asked of you.
Password breaches also make up over 80% of hacking incidents. For many people, there’s so many passwords for so many programs and applications today, they become complacent and reuse passwords. For a cybercriminal, this is one of the easiest ways to gain access to a multitude of information and data.
Emails often provide the first breach of security because they are widely used to send invoices, banking details, and personal information
How you can better protect your business and your team
Prevention is better than cure. There are a number of things that you can do to protect your business and your team from any potential cyberattacks.
Create both a disaster response and incident management plan. Dealing with an incident is significantly less stressful if you’ve already planned for it. Think about what your business will do in order to continue and survive after a potential security breach, and ensure your team knows who to speak to if an attack or attempted attack occurs.
Use an email spam filter. While spam filters are effective, some emails can still fall through the cracks. By marking any potential email attacks as spam, you will train your filter into becoming more effective. If you notice an unusual email, check the “from” email address, and call or text the alleged sender to confirm the legitimacy of the email.
Keep your data secure. Only allow access to websites, applications, or client information to those who absolutely need it. It’s also important to ensure any work emails or applications cannot be accessed by any third-parties on employee phones or computers.
Apply 2 factor authentication on applications and programs. If 2 factor authentication is applied on important programs, the chances of a security breach are extremely low. Even if a hacker were to gain access to your password, they would be unable to complete the log in without the rest of the information.
Use a password management system such as LastPass. LastPass enables you to store all login details in one secure location, so the only password required for you to remember is for LastPass itself. It can randomly generate uncommon passwords to be used on programs and applications to keep programs and information as secure as possible.
Regularly apply software updates and back up your data. Software updates exist to enhance the security and safety of your device, so it is recommended that you update regularly. Backups of your data, documents, and information should be stored on the cloud, and not on USB’s, hard drives, or directly onto your device.
Use the cloud to store documents and information. Data is best stored on the cloud, as opposed to on the harddrive of your computer. Over 40% of Malware attachments in cybersecurity attacks come from Microsoft Office, so best practice is to utilise online office programs such as GSuite.
Train your staff on cybersecurity best practices. Complete staff training regularly to ensure your team is up to date on security best practices, and understand what to look for in an attack or attempted cyber attack. As mentioned previously, your organisation is only as strong as its weakest link, so keeping your staff informed and vigilant is essential to protecting yourself from an attack.
Dealing with an incident is significantly less stressful if you’ve already planned for it
Above all, it’s important to remain on high alert and be suspicious of anything that seems out of the ordinary. GippsTech can help you by reviewing your systems, designing cybersecurity protocols for your organisation, developing and implementing a disaster management and recovery plan, and running staff training.