Best Practices to Protect Your Business from Cyber frauds and virus attacks

Cyber-attacks have increased, especially in the past year where COVID-19 ramped up remote working. The working from home setup created inroads for ambush and expanded the attack surface for hackers. The ever-changing cyber threat landscape calls for eCommerce business owners to keep pace with the emerging threats and secure their businesses from malicious hackers.

Here are some of the best practices to protect your business from cyber fraud and virus attacks:

Cybersecurity Assessments

Hackers are finding newer ways to breach security systems and wreak havoc. You, therefore, need to conduct routine cybersecurity assessments to determine any threats to the business and how equipped the current security measures are.

 78% of IT managers have shaky confidence in their cybersecurity posture because they know that hackers are constantly shifting the goal post in security standards. Therefore, it is necessary to conduct assessments to gauge the cyber hygiene of your organization’s security ecosystem. That includes looking at third and fourth-party vendors to ensure that they are not the weak link in your cybersecurity efforts.

A cybersecurity assessment identifies any external or internal vulnerabilities. It also assesses the likelihood of attacks and establishes the preparedness in dealing with any attacks. The cybersecurity assessment will inform your decision-making in allocating funds to protect your network.   

Keep software and systems up to date.

Phones, tablets, and computers are great to have. They ensure convenience and increased productivity. They also hold loads of sensitive data and information. Information that if stolen could cause immense revenue loss for your business. These gadgets need to be protected at all costs.

One of the best ways to ensure that your devices are not entry points for hackers is by running on the latest software version and updating your systems regularly. Since cyber threats are ever-changing, operating system providers offer regular updates to patch up issues, fix bugs, and improve functionality. 

Choose a hosting provider that is keen on updating the operating software to ensure security against any malware. Protecting your devices is protecting yourself and your business.

Use strong passwords

Passwords are the first line of defence from any unauthorized access to sensitive and personal information. The stronger the password, the lower the likelihood of your system being a victim of unwanted intrusion. Weak passwords were among the most prevalent vulnerabilities that hackers used in 2019. 

30% of all ransomware infections in that year had to do with the use of weak passwords. To secure your business, you need to use strong passwords that are unique for all your accounts and devices.

Luckily, there are password managers that take the pain out of remembering all those passwords. You could also form the habit of changing your passwords every so often.

Use an SSL certificate.

Businesses tend to deal with sensitive information like IDs, credit card numbers, contact details, passwords, etc. Therefore, it could be detrimental if such information falls into the wrong hands. That is why you need to prioritize having an SSL certificate for your website.

SSL certificates protect all the in-transit client-server communication. Once you activate an SSL, every bit of exchanged information will be encrypted. Any mischievous hackers cannot access the data or intercept communication because it will be in an indecipherable format.

Choosing the right SSL cert within your budget may seem like a formidable task. But don’t worry, we have got you covered!

There are many reliable SSL providers in the cybersecurity market that you can buy cheap SSL certificates from. For example, you can choose Sectigo, GlobalSign, Comodo SSL; those are such reputed CAs that offers 256-bit encryption, which is the industry’s highest protection. The best thing is that they have 99.9% browser compatibility.

Use a Firewall

Firewalls are network security systems that protect the network from unauthorized access from external networks and external threats. Firewalls form a barrier between the internet and your business network. It prevents external users from accessing your network.

Antiviruses will protect your file systems from unwanted programs, but they won’t protect attackers from accessing your systems. That is why you need the best firewalls to secure your business. Firewalls not only stop unauthorized access; they can block users from accessing external websites.

You can use them to ensure productivity in your business by blocking access to social media sites, therefore, making sure that your employees remain focused on work during work hours.

Be Careful of Hardware Thefts

Clutch your pearls. Can you believe that a laptop is stolen every 53 seconds? Most of these thefts often result in data breaches. Most organizations employ the most sophisticated software to safeguard their office networks. But they overlook one of the main points of weakness, which is the hardware.

Hacking a network takes a lot more effort than downloading unencrypted information from a hard drive or laptop. When criminals steal computers and hard drives, accessing confidential files is often just a breeze. It is therefore essential to secure your hardware by using strong door locks.

Encourage your employees to use strong passwords to avoid unauthorized access if their machines get lost. You could also do remote-wiping and data encryption to safeguard any confidential information from malicious access in the event of hardware theft.

Ransomware- The Achilles Heel for Every Organization

Ransomware is malware that encrypts victims’ files. The attackers using the malware then threaten to block access or publish the data if the victims do not pay a ransom. Ransomware attacks can set back victims in several ways, such as loss of trust with customers, loss of data, and reputational damage.

An insurance company lost $40 million in a cyberattacks pay-out. As a result, you need to have an all-hands-on-deck holistic approach to defending yourself from ransomware. Some of the ways you can secure your business are keeping your systems updated, Implementing an Intrusion Detection System (IDS), and hardening your endpoints.

Educate and Train Your Team

Your employees could either be your most robust line of defence or your weakest link, depending on how aware they are of the importance of cybersecurity. Educate your team on the potential impact of a cyberattack on the business.

Communicate the best practices they can use to protect themselves from being security vulnerabilities. Cybersecurity in your business should be everyone’s responsibility, not just the IT teams’. You could also hold regular cybersecurity sessions to reinforce best security practices.

Conclusion

Cyber-attacks are a real threat to both large corporations and small businesses. To protect your business, you need to employ an active approach to ensuring system security.

Anik
Anik is an IT professional and Data Science Enthusiast. He loves to spend a lot of time testing and reviewing the latest gadgets and software. He likes all things tech and his passion for smartphones is only matched by his passion for Sci-Fi TV Series.