In today’s digital-centric business environment, cyber security is a number one priority for SMEs and large corporations. A recent survey found that 90 percent of enterprises have suffered a security breach of some form, and each incident is costing substantial amounts of time and money, in addition to having a detrimental impact on brand image and public perception.
While information security is an increasingly complex and demanding endeavour for modern businesses due to the sheer scale of digital operations, 80 percent of cyber-attacks and hacks can be prevented entirely. Overhauling digital security and introducing even the most basic measures can have a transformative impact on an enterprise’s ability to combat these ongoing, daily threats.
Many organizations are currently embracing digital transformation to ensure that they are capable of conducting business and connecting with customers across a range of online devices and platforms. This is the best time to implement new and enhanced security policies, according to Nazar Tymoshyk, security solutions architect at Software, due to the masses of data being “created, moved and stored.” Data and information is king in modern business, so you need to do everything in your power to protect it.
Types of attack
The most common types of cyber-attacks include malware, phishing, Denial of Service (DoS), SQL Injection Attacks, Credential Reuse, and Cross-Site Scripting (XSS). Malware is arguably the most widely used and it encompasses a range of threats such as viruses, worms, and Trojans that steal or destroy data. Phishing is another form of attack that appears to act as a legitimate request for data but is actually egregious.
It is critical that you are vigilant to cyber security threats, and implementing a robust strategy is the best means to mitigating the risks involved with web-based online tech. To begin with, you should install a reliable antivirus software, install a firewall, ignore suspicious emails, back up important data, and communicate and collaborate extensively with employees across the enterprise to ensure that policies are put into practice. Building a security-focused culture in business can really have a positive, long-term impact.
Limit access to sensitive data
Bring-your-own-device (BYOD) schemes and the ease of digital access has brought about a new “insider threat” for modern enterprises. To mitigate the risks associated with employees logging onto critical data and valuable network resources, try to limit the number of times that users can remotely access any systems. The use of OS and application logging, solid share and file permissions, and proper authentication and encryption for wireless networks can also help.
The RSA Group outlined a “10 Steps to Cyber Security” guide back in 2012, and it is now used by around 70 percent of the FTSE 350. The guide urges enterprises to focus on aspects such as user education for employees, managing user privileges, malware protection, a removable network security, and home and mobile working. It is also important to have an Incident Management Team (IMT) in place to identify, analyze, and correct procedures following a breach in order to prevent future re-occurrences.
Identity and fraud
Ensuring the security of digital documents and contracts is also important, so you should opt to make use of fraud prevention and identity verification tools. Electronic signature technology company DocuSign, which is chaired by Keith Krach, offers a wealth of cyber security-focused solutions for modern businesses.
While cybercrime is a major problem for corporations, physical attacks on servers and other break-ins can also have a devastating impact on business continuity. Securing property against vandalism, theft, and fire will protect data and reduce the possibility of costly downtime. Recommended solutions for security include the installation of intruder alarms, integrated access control and video systems, CCTV cameras, specialist caging, multi-point camlock systems, and robust bars and windows.