Forward-thinking businesses are proactively making a smart move: investing in cybersecurity. This is fantastic news, especially since a staggering half of small and medium-sized businesses (SMBs) are still operating without any cybersecurity measures. If your business is among them, it’s time for a change.
- Antivirus/anti-malware is not cybersecurity
- Two-Factor Authentication (2FA) is not cybersecurity
- Strong passwords and password managers are not cybersecurity
So what is cybersecurity?
First understand while there are targeted attacks against specific entities (businesses, governments, even individuals), most cyberattacks, and specifically those against SMBs, are not as focused. Think of fishing in the ocean. A single fishing pole (a targeted attack) can typically capture one fish (if you’re successful). Casting a net can capture many fish. Most cyber threats are automated, widespread attempts to identify a vulnerability to exploit, including human weakness.
Every business is at risk under this large-scale model which is more prevalent. Attackers are after money – access to your bank accounts or credit cards, or enough of your identity to obtain credit in your name. In simple terms, let’s say you are a small tax accounting firm. You have no national recognition, no reason for a malicious targeted attack. But you have thousands of dollars in the bank and you’ve been in business for years, building a reliable credit profile. Now you represent significant financial gain to the attacker for little effort. If your defenses and awareness aren’t strong, you may fall for one of their tricks and suffer a security breach without even knowing until it’s too late.
Cybersecurity combines tools, processes, policies, and management working together to reduce your security risk. There is no way to prevent attacks, but you can reduce the risk of an attack attempt succeeding. Think of an onion. Your defensive strategy and solution must be layered to address the different types of common threats.
Why wait until it’s too late? Start with these simple steps to safeguard your business:
1. Embrace Encryption and Multi-Factor Authentication (MFA) Imagine encryption as placing your valuable data in a secure vault. Even if a cybercriminal intercepts your information, they can’t access it without the encryption key. MFA (or 2FA) adds another layer of protection by requiring a second device, like your phone, to verify your identity each time you log in (to your computer, websites, and applications). Think of it as needing two keys to unlock a secure door.
2. Utilize a Password Manager Password managers generate strong, random passwords for each account and remember them for you. This simplifies your life and also significantly boosts your business’s security. It’s a win-win! Passwords should always be unique, never duplicated, and built of random characters or multiple words that don’t identify you personally (don’t use family, sports, pet names, and related dates).
3. Implement Advanced Monitoring Tools These tools are like digital security cameras, constantly watching for any suspicious activity. They alert you to unusual behaviors in your systems, allowing you to take immediate action if something seems amiss. Optimally, this should be managed by a 24×7 Security Operations Center (SOC) providing a Managed Detection and Response (MDR) service. An MDR SOC ensures your systems and data are always monitored for threats by security analysts who can take immediate action to stop malicious activity.
4. Educate Your Team on Security Threats Phishing is more commonly discussed in the media and more recognizable in name. But there are other dangerous security threats to look out for – smashing (sms text phishing), fishing (video phishing), squishing (malicious QR codes), Wi-Fi dangers, USB dangers, insider threats, Shadow IT, physical security, etc. A comprehensive security awareness training program can convert your weakest link (human error) into a strong defensive layer – the Human Firewall. Training should be brief, topic-focused, but recurring monthly to address all the security topics and consider an onboarding training course to get started (also for new hires).
5. Control Applications Managing the applications installed on computers, who can install them, and what programs can run is a strong control mechanism to reduce threats and optimize computing reliability. This also enables you to properly define a computer lifecycle and establish expected performance.
6. Patch Patching has become second nature for computers, but remember to also patch firmware for IoT devices, printers, network equipment, firewalls, etc. Applications also need updating but not all are included in automated patching systems. If you purchase perpetual licenses instead of subscriptions, be sure you upgrade applications when versions no longer receive security updates.
Why is Investing in Cyber Security Crucial?
- Protects Your Data: Your business data is invaluable. Securing it means protecting your operations and reputation. You may also have access to customer data that needs to be protected.
- Prevents Financial Loss: Cyber attacks are costly, both in money and time. Prevention is always cheaper than dealing with the aftermath. One small security breach can cost thousands of dollars in investigation, recovery, and unproductive downtime.
- Builds Trust: Demonstrating that you take security seriously builds trust with your customers, lenders, vendors, and partners. They need assurance that their information is safe with you.
- Protects Reputation:
Investing in Cyber Security Doesn’t Have to Be Daunting
Don’t wait for a breach to happen—act now and make cyber security a priority. Engage an IT consultant or service provider to evaluate your security and technology infrastructure. For optimal results consult a Managed Services Provider (MSP) who actively works with you to build and maintain a healthy security strategy and technology foundation to empower your staff and grow your business.
