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How to Address and Reduce Your Business’s Cybersecurity Risk

Cyber threats are ubiquitous hazards to businesses of all sizes. A recent study found that overall weekly cyberattacks increased by 50% in the past year on corporate networks. Being faced with this alarming reality, it’s essential to address cybersecurity risks as soon as possible.

The first step in addressing cybersecurity risks is to understand what the dangers are. This means familiarizing yourself with the many different types of cyberattacks that are targeting businesses like yours. Only by understanding the nature of the threats can you begin to put preventative measures into practice.

We’ll review the different cybersecurity threats out there and provide tips on how to effectively combat them:

What Cybersecurity Threats are a Danger to My Company?

In order to reduce cybersecurity risks, you must understand the different types of attacks and how to protect yourself from them. Ransomware and phishing are growing threats that can cripple a company if proper precautions aren’t taken.

Ransomware is a type of malware that encrypts a company’s data and demands a ransom be paid in order to decrypt it.

Phishing is a type of cyberattack that uses fraudulent emails or websites to trick victims into revealing sensitive information, such as passwords or credit card numbers. About 20% of your employees are likely to click on a phishing email and an overwhelming 67.5% will enter credentials on a phishing website. Because every member of your organization has email, it’s crucial to educate employees on cybersecurity best practices in order to prevent phishing attacks from causing data breaches. 

Other threats to be aware of include:

  • Supply Chain Attacks 
  • Malware
  • Denial-of-Service Attacks
  • SQL Injections 

These threats can have a major impact on your business’s productivity and longevity and create costly problems. It’s ideal to prevent them from occurring in the first place.

How to Reduce Your Cybersecurity Risk 

No company is immune to the dangers of cybercrime. Reducing your risk of attack involves taking preventative measures against these threats. Here are a few ways to be proactive as a company:

Security Awareness Training

This is a process of familiarizing employees with company policy and procedures regarding cybersecurity. The goal is to educate staff and raise awareness on identifying and avoiding potential risks, such as phishing attacks or ransomware.

Password Policies

A password policy is a set of guidelines that dictates how passwords are to be created and used in order to better protect an organization’s network and data. Password policies can be implemented in a number of ways, but they usually involve creating and enforcing rules around the following:

  • Password Length
  • Password Complexity
  • Password Expiration
  • Password Sharing

Strong and secure passwords are one of the simplest yet crucial ways to safeguard your company from attacks.

Data Backup 

Data backup is the process of copying and archiving company data in order to protect it from potential data loss or destruction. By backing up your data, you create a copy of it that can be restored in the event of an attack or other disaster.

Business Continuity Plan 

A business continuity plan (BCP) is a document that outlines how a business will continue to operate in the event of an interruption or disaster. As Forbes has described, this plan should account for all types of threats, including cyberattacks and natural disasters alike.

The plan outlines the steps that will be taken to ensure that critical operations can continue and includes information on backups, resources, and personnel. Creating a BCP is essential to mitigate damage and losses when disasters happen. Be sure to update your plan regularly to ensure efficiency.

Work with a Trusted IT Company

A trusted IT company can help reduce your business’s cybersecurity risks by continually monitoring your system and by quickly identifying and responding to any potential incidents. They also keep your software updated and protect you with firewalls, intrusion detection, and other useful security measures.

Secure Your Company With Attain Technology

Cybercriminals are constantly finding new ways to prey on vulnerabilities, and it can be difficult for businesses to stay protected. At Attain Technology, we have the expertise and tools necessary to help your company stay safe from cyberattacks.

We continuously monitor your system for any threats, and we’re prepared to respond quickly and productively. Contact us today for a Free IT Risk Assessment!