Cyber Security: Is Your Business An Easy Target?

Cyber attacks against Australian small businesses are rising and the risks are spreading, particularly with the rise of SME’s storing data locally, in the cloud and using online services more than ever.
The impact of a cyber attack on a business can be extremely harmful – exposure of customer details, reputation damage, forensic examination, crisis and PR management, fines and penalties, litigation and other liabilities. The recovery can be costly and lengthy.

As your business stores more data and uses more online services it becomes a prime target for criminals.

Consequences of external attacks, internal security breaches, and internet abuse can be serious for your business and your customers.

Size is really irrelevant when it comes to online crime and fraud and smaller businesses can be easier targets because of stretched IT resources.

The rate of cyber security incidents for Small Businesses is now over 70%, and many COG Digital clients have experienced a cyber security incident and have little knowledge before or after it. The main barriers for implementing good practices in cyber security is mostly a small business having no dedicated IT staff, or understand how to plan for cyber security and implement protocols. Responding to incidents is usually completely unknown to many of COG Digital clients, so underestimating risks, and having an inability to identify security weaknesses including simply not knowing where to begin is very common, and it’s here COG Digital can assist.

What was once random, cyber attacks in recent years have become more organised and targeted with the goal of financial gain.

While the internet is a fantastic business enabler, and seems easy to load images on Instagram, protecting your business and brand against cyber threats has become increasingly complicated and it’s vital to have a robust cyber security strategy in place. Here are some guidelines for cyber security best practices:

1. Protect against malware, the malicious software designed to infiltrate or damage a PC or network. Secure your computers with adequate firewalls and antivirus software. The on-board firewall on your internet router isn’t enough nowadays with the complexity of malware.
2. Protect PCs with security software that resides on the PC and doesn’t hinder your PC, laptop or network’s performance. The best protection against a data breach will encompass identity theft, risky websites and hacker attacks within a single solution.
3. Ensure you’re using the best available threat intelligence. Manual or infrequent updates for your security software open the door to threats.
4. Penetration testing will simulate a cyber attack to test for vulnerabilities. Run a ‘pen test’ once your cyber security strategy is in place to test its effectiveness on your information security.
5. Select a single console solution with location awareness to keep tabs on mobile users, PCs and servers.
6. Employ anti-spam software to block risks and prevent distractions for employees.
7. Develop a comprehensive policy and include awareness training. Teach and re-teach employees about security requirements. Make risks and security transparent. More than 80% of all data loss is caused by human error, either sending out confidential or sensitive information to the wrong people, or in an unsecured way.
8. Advise employees about the type of information that’s confidential and what potential problems can arise if this kind of information gets out.
9. Have a social media policy with enforceable guidelines for employees. Empower employees and customers with best practices and guidelines.
10. Protect using strong passwords. Time out old passwords and require password changes frequently. Automate updates. URL filtering can limit access to unproductive or risky sites completely.