Cybersecurity for businesses: Managing common risks and setting basic standards!

Digital transformation and cloud services have changed everything about how businesses operate and function. However, with networked devices and IoT, there are also cybersecurity risks that cannot be ignored. Recent studies and reports, including one by SIA in association with Wall Street Journal, reveals that cyberattacks on businesses has been increasing at an alarming rate. No company, regardless of size, is immune to such threats, especially to things like hacking, phishing, ransomware, malware, and network infiltration.

What can your company do to prevent cyberattacks? Below is a guide about cybersecurity that would benefit all businesses.

Know the cybersecurity risks

Just having a list of cybersecurity threats is not enough. Businesses need to know what each of these threats mean and how preventive and precautionary steps can be taken. For example, there are different kind of malware that are used by hackers, starting from trojan, to ransomware, spyware, and even adware. Evaluating these risks and defining cybersecurity practices is critical.

Train your people

Another aspect that businesses often ignore is educating employees on cybersecurity. Some of the most common security breaches are actually caused by unsuspecting employees, who often have no idea of the basics, such as safe browsing practices, how to find phishing links, or how to create strong passwords. Educating and training your employees can prevent cyberattacks in a big way and also help in plugging the gaps.

Set standards across the organization

  • All default passwords and usernames must be changed immediately after device/product installation.
  • Passwords must be at least 10 to 12 characters long, should have special characters, numbers, and uppercase & lowercase letters.
  • Passwords should be protected and retrieved using a recommended password management tool.
  • Access control must be monitored. Access rights should be granted, revoked, updated and edited immediately as required.
  • Multifactor authentication should be mandatory for privilege accounts and sensitive devices and networked products.
  • Employees must use VPN while using or accessing company resources on public or untrusted networks.
  • All abnormal incidents or errors must be reported, regardless of how harmless that may seem.

Final word

Don’t ignore the need for cybersecurity. Businesses that have been proactive in their approach have gained customer trust and have been successful in keeping hackers at bay. Ensuring cybersecurity also requires collaborative effort within the organization, and if your company hasn’t decided or made an incident response plan, the same should be done on priority.

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