Do not overlook the effectiveness of physically attaching computers to desks. The first and foremost solution to prevent cyber attacks on companies is to have a secure and sophisticated hardware which are password protected and backed up by 2-way authentication. Having up-to-date antivirus software isn’t just important to protect your business from phishing attacks, they’ll help protect from all sorts of dangerous threats. Copyright © 2020 Entrepreneur Media, Inc. All rights reserved. IT support firms advise that you educate personnel on security best practices to safeguard your SMB's network. US research into the cost of data breaches has shown that in 2017, the global average cost of a single data breach event was USD 3.6m – equivalent to USD 141 per data record. Tips for Preventing Cyber Attacks Know the Risks. A cyber insurance policy will take care of the costs associated with the attack and help you get your business back on its feet as quickly as possible. Though this will prevent the messages from incorporating any dangerous links, it also means that you won’t be able to receive links from legitimate senders. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. You also need to be able to rely on your employees practising safe internet and network usage to achieve greater protection from hackers. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. “The average cost associated with the cyber-attack, among those targeted, was $8,699.48.” In addition, nearly half of all small business owners surveyed claimed to have at one time been the victim of a cyber attack. It is therefore more impactful to teach staff how to use both their personal devices and work devices in a way that minimizes the risk of being hacked. Cloud computin… As such, it's vital that businesses do all they can to protect themselves online. The rule of thumb is that passwords should be long and include uppercase and lowercase letters, numbers, and special characters. Safeguard your company’s hardware- A survey conducted by IDC says that most of the data breaches occur when stolen equipment reaches the hands of the hackers. The losses that can be incurred from data breaches are best mitigated by investing in cyber security insurance, yet only 9% of UK businesses and 15% of US businesses have this type of insurance, according to the UK Department for Digital, Culture, Media and Sport, and the US Better Business Bureau, respectively. Use robust anti-malware and firewall softwareResearch has shown that the most common cyber crime experienced in the UAE in 2017 was malware infection, which accounted for 53% of all cyber attacks. 10 Ways Small Business Can Prevent Cyber Attacks. Also, it is better if you don’t overlook the effectiveness of protecting your physical storage disks. Attackers target the disclosed vulnerability during this window of time. Today, only 58 percent of U.S. mid-size companies train employees on cybersecurity. To prevent this, train your employees to make security their watchword. The number of cyber attacks on small businesses continues to rise. As more and more sensitive information is stored digitally, it’s important that your policy cover not only standard practices such as routine security audits and data backup, but that it also addresses newer concerns such as: 1. Also, it is better if you don’t overlook the effectiveness of protecting your physical storage disks. It’s wise to invest in cybersecurity insurance these days- Because cybercriminals are becoming too sophisticated these days, they are coming up with ways to break into the most advanced cyber defenses. Encrypt and back up dataAn effective cyber crime protection strategy must consist of two elements: preventing physical access to sensitive data and rendering that data useless if it falls into the wrong hands. Having only a password login for employees is not enough. Train employees in cyber security principles. As you can see, there are number of ways small businesses can fall victim to cyber attacks and fraud. Top 5 Cloud Security related Data Breaches! So, start putting a security plan and implement in your business. Using protocols, such as creating temporary passwords for contractors or expediting the onboarding process for new hires, will also help to minimize scenarios in which password sharing is needed in the workplace. They can achieve this by using longer or more complex passwords. But if your enterprise has a backup copy of the latest, then you or your company need not bow to the demands of the hackers. If you want to prevent a cyberattack, you have to get serious about strengthening your cybersecurity foundation. This will allow you to ensure that your corporation is covered at all times with the … So, it is important to invest in software that has been specifically designed to deal with this challenge. This is a simple, yet effective way of preventing intruders from walking away with company equipment and the sensitive data they hold. Educate staff on the dangers of unsecured networks Banning employees from using their personal devices for work may seem like an obvious approach, but this strategy seldom works in the long term. Finally, install ‘find my device’ software on all laptops, phones and tablets. Updates are improvements, so if you remain on older systems, there may be cracks in the defence systems that leave you vulnerable to cyber attacks. Save a copy of your encryption password or key in a secure location separate from your stored backups. But security analysts say that to a large extent most of these attacks are avoidable if companies chose to follow the below-specified steps crafted specifically to protect their enterprises against cyber attacks. Investing in an optimized firewall is therefore key for preventing malware from entering your computer systems. Stay ahead by backing up data and storing it separately After encryption, backing up all data is another key way of protecting yourself from security breaches. Top of the list should be educating them about the risks associated with using unsecured networks to access work information. While it’s almost impossible to plan for every potential cyber attack, a little proactive monitoring and a well-defined series of steps won’t hurt. Use a firewall for your Internet connection. Secure your hardwareWith so much attention given to acquiring the newest and most sophisticated types of cyber security software, safeguarding the security of company hardware is often overlooked but the loss or theft of devices is a real threat to be aware of. Invest in cyber security insuranceBecause cyber criminals continue to work tirelessly to find ever more advanced ways of breaching security defenses, even the most security-conscious businesses remain at risk of an attack. Avast says that IOT are vulnerable to Cyber Attacks, Ransomware news headlines trending on Google. Seek specialist advice for cyber security insurance Minimize your risk by seeking specialist help to select the best type of insurance for your company, based on your risk of attack and the financial impact of such an event. But it doesn't have to be. Always be wary of cybercriminals, work like you expect an attack. This can include: Weak passwords. Investing in cybersecurity measures may not rule out an attack but will alert the business to attempts and were to up the investment in more measures to keep the hackers away from core systems. In reality, there are just five specific steps that all companies need to follow to effectively protect against cyber attacks: secure your hardware, encrypt and backup all your data, encourage a security-centered culture, use robust firewall and anti-malware software, and invest in cyber security insurance. Always entrust this information to a key figure in your IT department and ensure that (s)he is adequately trained on the safe and encrypted storage of this information. Combine this with regularly backing up your data, such as on the cloud, and you’ll ensure that no critical data is lost in the event of an attack. Read up on articles online to keep yourself informed as technology develops, and consider investing in the kind of tools and resources listed above – spending a little bit of money to protect your business could really pay off. If you’re a business owner or manager using computer services, you need to secure the network with a VPN, install a firewall, and use solid passwords to prevent privacy breaches. Thus, it’s better to outline some physical security strategies before any untoward incident occurs. For instance, if one of your employees working in R&D loses his/her laptop, then the company for which he/she working for can land into serious troubles if the sensitive data reaches the hands of the competitors or those having nefarious intentions. Having an effective prevention strategy in place is key to avoiding the risk of cyber attacks. Here are five tips to help you do just that: 1. 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