If you’re running your own business, as an entrepreneur, or as an executive at the helm of a corporation, you’ll have to address cybersecurity issues sooner or later. Many companies are still struggling with this basic foundation. In fact, according to CipherCloud’s Global Cyber Security Outlook 2016, almost half (47%) of respondents say that most of their cybersecurity spending goes toward protecting IT infrastructure. Given the growing sophistication of hackers and the many data breaches that have taken place, this is not a wise way to allocate resources.
Cybersecurity is essential for anyone whose business consists of handling private or confidential information online – i.e., practically every business in existence today. Cyber-attacks can come from many different sources:
How to protect your data from being hacked
The first line of defense is to choose a cybersecurity solution that provides a complete focus on your company’s data and privacy and not just on the infrastructure. The second line of defense is a suitable backup and recovery plan so you can always revert back to an earlier date without having lost any data or content.
Some basic steps for a good security strategy. Here are some basic tips that will help you safeguard your business against outside threats:
Encrypt sensitive data. Encryption is one of the most important tools for protecting your data and improving your cybersecurity. Your primary goals in this regard should be to keep private information safe from unauthorized users, make sure it remains protected even if a hacker manages to break into your system and prevent outsiders from tampering with or destroying data. Encryption can successfully achieve all of these objectives.
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Types of cyberattacks that can target your business
A business can be affected by various types of cyberattacks:
Denial of service attack. In a denial-of-service (DoS) attack, hackers bombard a website with requests for information in an attempt to overwhelm its servers and make it inaccessible. The point is not to steal data or ruin consumers’ day; it’s simply about making the website unavailable. While these attacks might not garner media attention, they can be very serious for businesses that rely on their websites to operate—and can even amount to a form of censorship in cases where state governments are involved.
Cyber extortion. Cyber extortion is a type of cyberattack in which hackers gain access to sensitive information and threaten to release it unless the victim pays a ransom. “Ransomware” is malware designed to block access to data or computer systems until a ransom is paid, usually in Bitcoin and of digital currency.
Cyber espionage. Cyber espionage refers to methods used by governments (or other large organizations) to steal sensitive information or intellectual property from foreign competitors or enemies. Those who engage in cyber espionage often hack into computers to steal valuable emails and data, or even corrupt or destroy data. The United States has accused China of using this method to gather economic intelligence against U.S. companies.
Cyber vandalism. Unlike other kinds of cyberattacks that target businesses with the goal of securing financial gain, those designed
Tips on how to mitigate the risk of a cyberattack with cybersecurity software solutions
Many steps can be taken to protect your business against cyberattacks:
Hire a dedicated information security team. A company’s IT department will likely have at least one or two people who monitor its networks for potential threats, but that may not be enough. Many companies are finding that the best way to stay protected is through third parties that specialize in cybersecurity solutions with a focus on protecting businesses.
Cybersecurity software should be implemented on all company devices which are connected to the Internet. However, most of the cybersecurity threats that your business faces will come from cybercriminals seeking access through web apps and mobile devices – so those are the areas where you need to put more effort into protection.
The importance of having an IT team in place before disaster strikes
Even if you have a dedicated cybersecurity team working for your company, there’s one vital step that will ensure protection against threats even while the team sleeps:
Cybersecurity software can complement your existing IT infrastructure to create a more thorough defense. With proper safeguards in place, you can sleep easier knowing that your business is protected from attacks on its systems and sensitive data.
One example of an effective cybersecurity solution is Norton Business Security , which can help you to automate threat detection, manage employee devices and mitigate cybercrime with one central dashboard. You can also convert your existing security strategy into a proactive protection system by identifying business assets, prioritizing risks and recommending remediation actions based on the latest intelligence feeds.
Another example is Norton Mobile Security , which protects your Android and iOS devices from cyber threats when they connect to public WiFi. It also helps detect websites that could contain malware or viruses, so you can steer clear of them.
Why you should invest in a cybersecurity insurance policy for your business
If you are looking for ways to protect your business from cyberattacks, you might be wondering whether insurance can help. The truth is that if you want to fully protect your company against potential security breaches, a dedicated cybersecurity policy could offer many benefits.
In addition to offering protection about the costs of dealing with a cyberattack, such policies can also help to repair your business’s reputation if it suffers from negative publicity after an attack.
Cyberattacks typically bring with them bad news for the people behind small- and medium-sized businesses: compromised data, damaged infrastructure, and even loss of revenues. Not only is cybersecurity software protection more affordable than a physical security system, but it also has the advantage of being an invisible barrier that protects your business without customers or clients ever knowing what’s going on in the background.