How to Protect Your Business from Cyber Threats
In today’s digital world, cyber threats are a risk for businesses of all sizes. Hackers are always looking for vulnerabilities, and a single breach can lead to financial losses and legal issues and even damage your company’s reputation.
To keep your business safe, you need a proactive security strategy to protect against cyber threats. Here are some tips to help!
Educate Your Employees
Your employees are your first line of defense. Many cyberattacks, such as phishing scams, succeed because employees unknowingly click on malicious links or share sensitive information. Regular cybersecurity training can help employees recognize threats and follow best practices, such as:
- Avoiding suspicious emails and links
- Using strong, unique passwords
- Reporting potential security incidents immediately
Implement Strong Password Policies
Did you know that 30 percent of internet users have experienced a data breach due to a weak password, that two-thirds of Americans use the same password across multiple accounts, and the most commonly used password is 123456?1
Weak passwords are an open invitation to hackers. Require employees to create complex passwords and update them regularly. Consider using multi-factor authentication (MFA) to add an extra layer of security by requiring a secondary verification method, such as a text message or authentication app.
Keep Software and Systems Updated
Cybercriminals exploit vulnerabilities in outdated software. This is why it’s important to regularly update operating systems, applications, and security software to patch any known weaknesses. Enable automatic updates where possible to ensure your business is always protected.
Secure Your Network
Your business network should be safeguarded with firewalls, encryption, and secure Wi-Fi protocols. Avoid using public Wi-Fi for sensitive business transactions and encourage employees to use virtual private networks (VPNs) when accessing company systems remotely.
Back-Up Important Data
Data loss can be devastating (and expensive!). According to IBM, the global average data breach cost in 2024 was $4.88 million.2
To help prevent catastrophic data losses, regularly backup critical business data to secure cloud storage or external drives. Ensure that backups are encrypted and tested periodically to confirm their integrity.
Restrict Access and Use Role-Based Permissions
Not every employee needs access to all company data. Use the principle of least privilege by granting employees access only to the data and systems necessary for their roles.3 Implement strict controls for administrator accounts, as these are prime targets for cybercriminals.
Develop an Incident Response Plan
Despite the best precautions, breaches can still happen. An incident response plan ensures your team knows how to react quickly to contain the damage. Your plan should include:
- Steps for identifying and containing a breach
- Communication protocols for informing stakeholders
- Procedures for recovering lost data and restoring operations
Work with Cybersecurity Experts
If cybersecurity isn’t your expertise, consider hiring a cybersecurity consultant or using managed security services. Experts can help identify vulnerabilities, monitor threats, and respond to incidents more effectively.
Cyber threats are always evolving, but so are the ways to defend against them. By taking proactive measures, training employees, and staying updated on cybersecurity trends, you can significantly reduce the risk of a cyberattack on your business.
This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
