As a small business, you might feel helpless against cyberattacks. Fortunately, you can take steps to protect your company. Understanding the cybersecurity landscape is the start point and CyberPal can help in this regard.
What’s at Risk?
Cyberattacks puts your funds, data and IT equipment at risk. If a hacker/malicious agent gains access to your network, a lot of damage can be wrecked with what they gain access to, for instance – Access to client lists, Customer credit card information, Your company’s banking details, intellectual property, digital assets, Trade secrets (pricing structure, product designs, expansion plans, manufacturing processes, etc.) Furthermore, apart from putting your business at risk, it also puts connected business partners and other parties at risk.
What’s the Impact of an Attack?
A cyberattack can radically impact your business. As a fact Symantec (2014), suggests that 60% of small businesses that become victim of an attack fold up within six months after the breach. Although this may be the most devastating result of the attack, there are other consequences that your business could experience, including the following:
- Financial losses from theft of banking information.
- Financial losses from disruption of business.
- High costs to rid your network of threats.
- Damage to your reputation after telling customers their information was compromised.
The following are common attack methods used by hackers against data, networks and other IT resources of small businesses.
01. Wire Transfer Issues
Small businesses keep being victim of those requesting for fraudulent wire transfers in recent years. Employees should be trained on how to spot phishing mails and phone calls and how to respond in the event that your business is a target of such fraudulent actions. Furthermore, there are simple solutions that can be deployed for protection.
02. Careless Admin/Elevated Account Access
Small businesses often grant too many employees access to vital services and hardware through admin accounts. Such accounts can be easily hacked, however, and are favorite targets of many cyber criminals.
03. Mobile Device Vulnerability
The work phone or tablet of employees are high risk targets. Conducting business or making purchases while using public Wi-Fi could put an individual, and the business they work for, at risk. Malware threats also lurk in third-party app sites as cyber criminals find it easy to trick people into downloading spoof apps.
04. Ransomware Attacks
Recently, ransomware threats have skyrocketed by nearly 350%. These attacks often appear as emails or mobile notifications denying access to an employees’ computer. To safeguard business resources from cyber-attacks, it’s important for small businesses to invest in cyber security training and have a comprehensive cyber policy in place that is accessible to all employees. Being prepared and proactive can help prevent cybersecurity threats before they happen, shielding small businesses from a potential loss of income, loss of consumer data, and network security and privacy lawsuits
CyberPal is a Marketplace where small and medium businesses can find insights in choosing the right cyber security solutions within minutes. Nevertheless, a cyberattack can significantly impact a company’s reputation and bottom line, and thereby erode consumer trust. The best defense is a good offense, and businesses should be aggressive in finding solutions that fortify their security.
What to Look for in a Cybersecurity Company
Several businesses consider cybersecurity as a bit out of a wheelhouse. Requiring assistance with cybersecurity is not uncommon and help can be found at CyberPal. After all, you have a business to run. Hence, there are things to look for in a cybersecurity company. To help, here’s a checklist of features.
Independent Tests and Reviews
A cybersecurity company could dazzle you with a big tech words and a striking marketing campaign but look at independent tests and reviews. The best cybersecurity firms want their products tested and are more than willing to share the results.
Avoid Cheap / free Options
You don’t want a company that comes in, installs some software and disappears. A company claiming to specialize in one field without offering additional products or support cannot provide the protection required. There are a lot of cheap alternatives to IT solutions, but it should be noted that the security of your business should never be compromised because of cost because the consequences may be much costly
Whether there is a detected threat or trouble backing up business files, your business should actively seek out a company that offers impeccable support. Settle for a company that helps your business navigate threats, finds solutions and takes the hassle out of cybersecurity.
Your business will grow, and a cybersecurity company that can grow with you is what is desirable. Particular focus should be placed on security providers that offer full suites of security choices, including those you may need in the future. Small business owners have always had long to-do lists, but now, cybersecurity is at the top of the list. Fortunately, there are steps you can take to protect your small business, and the right cybersecurity company can help mitigate your risks.
CyberPal is world’s first Cyber Security Marketplace that enables end-users to compare, review, ask peers, buy research reports for all your Cyber Security requirements. Locate and connect with nearest Resellers for all Vendor solutions. This can help you to drive your cyber security strategy for your business rather than it being a non-starter.
Symantec, 2014 Internet Security Threat Report, 6 (Apr. 2014), available at http://www.itu.int/en/ITU-D/Cybersecurity/Documents/Symantec_annual_internet _threat_report_ITU2014.pdf.