How to Protect Your Organization Against Cyber Attacks
April 5, 2020
It is estimated that damages from cybercrime will reach a whopping 6 trillion dollars by the year 2021. No matter how big or small your organization is, you are at risk of facing a cyber-attack at some point in time. Thankfully, however, there are tons of things that you can do before, during, and after cyber-attacks to make sure that they don’t happen again, or at least reduce the risks. Here are some of the things your organization can do to protect itself from cyber-attacks.
Start with the Right Insurance
There is now insurance specifically for businesses who want to protect themselves from the repercussions of a cyber-attack. Cyber security insurance can protect your business against losses that were caused by data breaches, network interruption due to a cyber-attack, or business interruption. However, premiums and acceptance will usually be affected by your business’s level of self-protection. This type of coverage can also cover you from costs related to replacing or repairing damaged equipment, crisis management, and various legal claims.
Start with the Human Aspect
Did you know that more than close to two-thirds all cyber-attacks perpetrated are committed by insiders? Not only that, but 60% of all businesses reported having been the victim of an insider attack last year.
But what can be done to stop them? For one, you have to learn how to pay caution to the wind, and make sure that you have boots on the ground. Insider attacks often occur during periods of internal turmoil, like when there are talks of restructuration, or conflict between employees and management.
Try to give people a way to report suspicious activity anonymously, and pay close attention to employees who may have access to critical data. That also means executive management. As a matter of fact, these are the people you should pay the most attention to.
Second, you have to make sure that your data is properly protected internally and externally. Make sure that there is a multi-tier identification system that goes beyond cards and passwords. Also, make sure that your hardware is physically secured as well to reduce the chances for theft. And think twice before introducing any BYOD policy.
Work with an IT Team, even if it’s Outsourced
No matter what type of business you operate, if you have more than 5 employees, or deal with sensitive data, you will need to have some sort of cyber security policy in place. This could mean working with a consultant who will review your business’s vulnerabilities and come up with a policy, or working with an outside firm. You should also have a good IT forensics team on call in case you are a victim of an attack and want to catch perpetrators while reducing damage.
Cyber-attacks are very serious, and could be disastrous for any business. No matter your business’s size, make sure that you make cyber security a priority, and that everybody on your team is on the same page.