As the number of cybersecurity risks continues to rise, it is expected that 15,4 million will have occurred by 2023. Even though modern technology has made it simple for businesses to update their security measures, malicious hackers now use sophisticated tools. You must implement stringent cybersecurity policies and take proactive measures to reduce your cybersecurity risks.
You must rely on something other than the chance to protect your data as a business. It could lead to lost sales, system disruption, and the theft of sensitive customer data. Furthermore, data breaches harm your reputation, which can sometimes lead to the demise of your company. Given the stakes, how can you reduce your organization’s cybersecurity risk? Here are ten strategies to consider.
What is Cybersecurity Risk?
A cybersecurity risk is the possibility of a malicious actor exploiting digital systems and networks for personal gain. It refers to any type of threat or vulnerability that can be used to gain unauthorized access to a computer, network, or system in order to compromise confidential data or cause harm. An attack on a website, virus or malware infection, phishing scams, social engineering attacks, data breaches, and other cybersecurity risks can all occur. In this digital age, organizations must proactively manage the risks associated with their assets and data in order to protect them from potential attacks. Security best practices should be followed to detect potential vulnerabilities before they can be exploited. Implementing regular security audits, patch updates, user security training, and other forms of proactive risk management are among the best practices.
Step #1. Make Backups and Encrypt Your Data
Make sure that all sensitive data is encrypted. Normal-text file formats merely make it easier for hackers to access your data. Encryption, on the other hand, limits data access to those with the encryption key. Furthermore, it ensures that even if unauthorized individuals can access the data, they cannot read it. Some data encryption tools will even alert you if someone tries to change or alter the data.
You should also back up your critical data regularly. Data loss can occur as a result of cybersecurity risk on occasion. If your company does not have a reliable and secure backup, it may face operational disruptions and significant financial losses. The 3-2-1 rule is one of the most effective data backup strategies. You should store at least three copies of your data using this strategy. Two should be stored on various types of media, with one offsite.
Step #2. Make Sure To Train Your Employees on a Regular Basis!
Malicious hackers commonly gain access to your database by sending phishing emails to your employees. According to statistics, over 3,4 billion phishing emails are sent each year globally. These emails contain links to malicious software that allows hackers to access user data, including login credentials.
Phishing emails are difficult to detect because they appear legitimate. For example, a hacker may send an email requesting personal information while posing as the leader of an organization. Employees may disclose this information if they need to be adequately trained. As a result, you must provide cybersecurity awareness training. Inform your employees about the most common cyberattacks and the most effective countermeasures.
It is also critical to emphasize the importance of double-checking email addresses and links before clicking on them. The organization’s policy on disseminating sensitive information, including social media, should also be emphasized.
Step #3. Make Sure You Update Your Systems and Software
Updates to software and systems significantly impact your cybersecurity risk and digital safety. It is because they add new features, fix bugs, and assist in patching exploitable security vulnerabilities and flaws.
Malicious hackers write code to exploit vulnerabilities. Most of the time, this code is bundled with malicious software that can harm your entire system. Use a patch management system to manage all updates automatically and maintain information security.
Step #4. Make Sure Your Passwords Are Strong
That weak passwords account for over 80% of organizational data breaches is intriguing. Hackers can quickly gain access to your systems. They only need a small opening to maximize their potential.
More than simple passwords are required due to advancements in password-cracking technology. To deter cybercrime in your organization, use multi-factor authentication techniques and complex passwords instead. You should also prohibit employees from sharing passwords so that the remaining computers remain secure even if one is compromised.
When it comes to passwords, the following risk mitigation strategies should be used:
- Each password should contain at least eight characters.
- They should be made up of alphabetic characters.
- They must not contain any sensitive information.
- They must be one-of-a-kind and have never before been used.
- They should ideally refrain from any words that are correctly spelled.
They should ideally refrain from any words that are correctly spelled.
Remember to keep your password in a secure, encrypted location.
Bring-your-own-device (BYOD) is becoming more popular as more employees work from home. Encourage iOS users to enable the Security Recommendations feature, which allows them to monitor the security of their saved passwords.
Step #5. Evaluate and Track Your Vendors
You can’t afford to ignore vendor risk management because third-party vendors almost certainly play a significant role in your cybersecurity. Instead of relying solely on incident response, this will assist you in reducing third-party risk.
Your primary concern should be:
- The risk associated with cybersecurity: monitor vendors throughout the relationship and onboard them using the proper procedures.
- To reduce legal, regulatory, and compliance risk, ensure that the vendor will not interfere with your compliance with contracts, rules, and local laws.
- If the vendor is critical to your business, ensure they will not disrupt your operations.
- Strategic risk: ensure the vendor will support your organization’s ability to achieve its goals.
Manage your third-party exposure as soon as possible, and don’t leave your cybersecurity risk to chance. Cloud persuasion, on the other hand, is one of the things you need to secure your business more.
Step #6. Reduce Your Target Area
Your attack surfaces are the gaps or flaws that malicious hackers can exploit to access sensitive data. They could include IoT devices, software, web application systems, and even employees, who are frequently the targets of social engineering attacks like phishing and whaling.
There are three main types of attack surfaces:
- The physical attack surface includes assets that hackers with physical access to your premises can obtain.
- The “attack surface” refers to digital assets accessed online and outside a firewall. Your organization’s operating system, servers, and malicious assets, such as apps that impersonate your company, are all known attack surfaces.
- One of the most important but frequently overlooked attack surfaces is social engineering. In this case, the hackers exploit psychological tendencies to trick your employees into disclosing sensitive information.
Conduct an attack surface analysis to determine your threat landscape, identify all security flaws, and narrow the attack vectors. You should also consider bringing in a cybersecurity analyst to help guide you through the process.
Step #7. Focus Carefully on Physical Security
Most cyber risk management policies ignore physical facilities entirely in favor of the digital aspect of cyber risks. Perform a security audit to determine whether your critical infrastructure is secure from security breaches. Furthermore, you should assess your data protection policy to see if it includes a data deletion plan.
Assume your online systems are secure, but a security breach occurs when someone enters your office and searches through your file cabinets. That would be terrible! There have been additional reports of janitors rummaging through trash to obtain private information about clients and employees.
Use high-value security systems to protect any restricted areas you may have. Furthermore, you should use two-factor authentication methods such as biometrics and keycards. As a result, no one can enter the area, even if the key card is lost or stolen. Investing in an HPE Security solution, on the other hand, is one of the best options.
Step #8. Put a Killswitch in Place
A killswitch prevents widespread attacks. Your information technology department employs reactive cybersecurity for business protection strategy in which all systems are disabled as soon as anything suspicious is detected and remain disabled until the issues are resolved.
Typically, cybercriminals do not conceal their tracks, especially if they do not expect to be caught. To ensure the integrity of your cybersecurity framework, have your IT security teams regularly analyze all server logs. You should also invest in network forensic analysis tools to examine the information flow within your network.
Human error is the primary cause of malicious firewall and ransomware attacks. Your personnel even recruited some of them. According to statistics, 94% of organizations have experienced insider breaches that resulted in cyber security threats. Run a scan on each new hire to ensure they are not a security risk. Furthermore, avoiding employee carelessness would help, increasing the likelihood of a cyberattack.
Step #9. Install Firewalls
Hackers create new methods for gaining data access, and cyber security threats evolve. Installing firewalls protects networks from online threats. A dependable system will successfully defend against brute-force attacks and keep security incidents from causing irreparable harm.
Furthermore, firewalls monitor network traffic for unusual activity that could jeopardize the security of your data. Furthermore, they protect data privacy and prevent sophisticated spyware from accessing your systems.
Proceed with extreme caution when deciding on the best firewall for your company. Choose a system that provides complete network and application visibility and total security control. Its security infrastructure, as well as its protection and prevention capabilities, should be streamlined.
Step #10. Establish a Cybersecurity Policy
Existing policies have a significant impact on your organization’s cybersecurity. Do you have any tips for detecting and preventing data breaches? How frequently do your IT departments perform vulnerability scans and risk assessments? Your rules are the gold standard for everything!
Examine your current policies for any potential gaps. There are several rules you must follow:
- Disaster recovery plans to ensure that your IT and employee teams are prepared in the event of a data breach. It aims to minimize downtime so you can resume operations immediately.
- By highlighting those individuals who have access to confidential information, this policy reduces the likelihood of unauthorized access. Because improper data handling can result in financial and legal consequences, ensure your access management policy specifies which stakeholders have access to which information and under what conditions they can share it.
- Security testing: The frequency of your cybersecurity testing should be specified in your policy. It allows you to detect flaws before it’s too late. Security tests such as vulnerability scanning, security posture analysis, penetration testing, ethical hacking, and cybersecurity assessments, among others, should be performed.
- The incident response plan outlines the procedures to be followed during a security breach. Furthermore, it shortens the response time of your organization and emphasizes the accountability of key information security players.
Ensure that your plan outlines the consequences of improper data handling and the legal actions that will be taken against employees who are found to be at fault. It will keep insiders out.
Final Thought
By following these ten steps, you can protect your data and systems from growing digital security threats. By taking these precautions, you will not only protect yourself from online threats, but you will also help your company’s health and growth. Maintaining digital security is critical, so be aware of potential threats and protect yourself from harm.
Thus, ICT Distribution, an IT Distributor in Maldives, provides a variety of high-quality services from experienced professionals who stay current on technology. These services also help companies of all sizes secure their sensitive data and networks. Companies can maximize ROI by investing in effective cybersecurity solutions.
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