Cyber Security: A Global Threat to Small and Medium Businesses

You hear about Cyber Security threats, data leaks and data loss in the news on a regular basis. Malware, trojans and phishing schemes hatched in countries like China, India, Russia and other Eastern European countries attempt to rob businesses of confidential information, privacy data and critical application data. Australia’s Prime Minister Julia Gillard has made Cyber Security a national priority. US President Barack Obama energized the dialogue on CyberSecurity by mentioning it in his State of the Union Speak with an executive order for federal regulators to provide better Cybersecurity for banks, telecommunications, energy and other industries.

But what about Cyber Security for small businesses? Small businesses are equally targeted by Cyber Security hackers and may be less resilient from a cybersecurity attack than larger businesses as they may lack the stability, reputation and financial resources to rebound.

Here are a few steps you can take to protect your business from the threat of a Cyber Security Attack:

Beef up your Network Security to Avoid Cyber Security Threats

Your network is only as strong as the weakest point. To avoid threats from Cybersecurity make sure you have a Firewall in place and keep all connected devices have up to date firmware, operating system patches and keep the latest anti-virus and anti-malware definitions current.

Cyber Security Education and Training

Educate your employees and staff on the threats of cybersecurity. Make sure they are aware of the threats of Phishing schemes and are able to identify and avoid these dubious attacks. Train all employees on the risk of sharing privacy data such as name, email, birthdays and financial information on social media networks.

CyberSecurity Policies and Procedures

Establish clear procedures on notification and escalation of a data leak or data breach. Ensure your team knows how to escalate a concern within your company. It is more important to raise the issues quickly rather than cover up a Cyber Security breach. Ensure you have clear policies on how to coordinate notifications outside of your company, should an attack occur.

CyberSecurity Insurance

Cybersecurity insurance is designed to help mitigate the loss of data leaks, network damage and other financial exposure of a Cyber Security attack. Your business may be eligible for affordable insurance to cover costs associated with CyberSecurity attacks.

There is no way to totally eliminate the risk of a Cyber Security attack, however, there are steps you may take to prevent attacks and be prepared on what to do in case your business is victimized. Contact your IT Support organization for a complete IT Security Assessment.