Businesses need to ensure sufficient security training and education for staff remains a key focus, but where to begin? Cloud computin… How to stop cyber-attacks on your organisation ... experts to discuss how best to protect the UK’s critical networks and businesses from cyber-attack. With ransomware hackers locking companies out of their systems, encrypting their data and asking for a ransom to be paid before releasing the data, you can stay one step ahead of them by backing up all of your data and storing it separately. The gargantuan task of knowing how to prevent cybercrime often comes down to nullifying cyber security threats and figuring out how to prevent cyber attacks. share that password with the device user only, improving your company protection from a cyber threat, Hacking For Good: UAE Startup VUL9 Wants You (And Your Enterprise) To Be Cyber Resilient, Why We Need to Worry More Than Ever About Getting Hacked, Phishing In All Its Forms Is a Menace to Small Businesses, Feds to Car Makers: Make Sure You're Ready for Cyberattacks, Global Financial Network SWIFT Warns Customers of Multiple Cyber Fraud Cases. Save a copy of your encryption password or key in a secure location separate from your stored backups. 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. Social media security 2. Use Multi-Factor Authentication. By doing so, equipment that is stolen can quickly be located by the authorities. Tips for Preventing Cyber Attacks Know the Risks. Increase employee awareness This is one of the most cost-effective methods of preventing a cyber attack. “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. Discourage password sharing Employers can create a security conscious culture in which password sharing seldom happens. Like storing the data on the cloud which is protected by multiple security layers and inculcating responsible BYOD security policies among the employees working for your business environment. One reason for the increase in incidents is that end-user software like Cryptolocker has commoditized the malware industry, making it accessible to a wider variety of criminals and less-skilled hackers. 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. Use A STRONG PASSWORD and change regularly. To ensure your company is protected from cyber attacks, it is imperative that you define security protocolsfor every aspect of your business. 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. This is where a cyber insurance cover can come to your rescue. 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. A business or company should start its cyber-attack prevention strategy by protecting its devices and other hardware with hard to guess passwords, limited access and trackers etc. Despite this, 30 per cent of small businesses don't have any cyber security strategies in place, and only 23 per cent have a policy for controlling access to systems that are limited to certain employees, according to the report by Business in the Community (BITC). The more eyes on your businesses cybersecurity, the better. And then how to verify if a network is secure (secure networks require a key/password to access them). Cyber Attack Prevention Plan. And minimise the amount of time a computer sits unused and unlocked by setting all devices to automatically enter ‘sleep’ or ‘lock’ mode after five minutes of no use. As staff members grow tired of the inconvenience, they are likely to return to accessing work on personal devices, regardless of policies prohibiting this. However, if your company has an online presence, stores customer and company data on digital devices and uses cloud-based software, a thorough cyber security strategy is essential. Did you know that 80% of cyber attacks involve weak passwords? Don’t overlook safeguarding company hardware Data breaches commonly occur due to stolen equipment and so safeguarding your hardware is an easy strategy in improving your company protection from a cyber threat. Install, use and regularly update antivirus and antispyware software on every computer used in your business. As such, it's vital that businesses do all they can to protect themselves online. 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. As outlined in this article, the steps to achieving the peace of mind and financial security that such a strategy brings should involve the use of up-to-date data encryption, data back-up, and firewalls and anti-malware software. Having an effective prevention strategy in place is key to avoiding the risk of cyber attacks. As highlighted by researchers in the International Journal of Advanced Computer Science and Applications, data encryption remains the ‘most efficient fix’ for data breaches, should they occur. Implementing this alongside thorough and ongoing employee education on cyber security really is your best bet to ensuring that the threat of a cyber attack never becomes your reality. It … 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. Protect against the threat of an attack Even though the threat of cyber attacks is real, it’s easy to forget all about it until one strikes. Top 5 Cloud Security related Data Breaches! This will allow you to ensure that your corporation is covered at all times with the … Today, only 58 percent of U.S. mid-size companies train employees on cybersecurity. Copyright © 2020 Entrepreneur Media, Inc. All rights reserved. Use software in conjunction with education By using firewall and anti-malware software in conjunction with employee education you are well equipped to prevent –or at least deal with– attacks due to ransomware, which can enter computer systems through emails and other employee-related errors. Even if you don’t currently have the resources to bring in an outside expert to test your computer systems and make security recommendations, there are simple, economical steps you can take to reduce your risk of falling victim to a costly cyber attack: Threats to businesses can take a … But it doesn't have to be. This scenario of extortion as a result of a cyber attack is becoming more and more common for all business types and sizes. 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. Over 90% of cyber-attacks use information stolen from employees who unwittingly give it away. And that’s due to the fact that it becomes useless even if a hacker sniffs it out- and mind you it’s not that easy to break into the encryption available in the market these days. 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. Antivirus software. As recent data breaches indicate, businesses of all types, sizes and in all locations are at real risk of a cyber attack at any given moment. Hackers usually find such passwords difficult to break. 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. As you can see, there are number of ways small businesses can fall victim to cyber attacks and fraud. Every day, cyber criminals are looking to use the internet to steal private information, money or disrupt how business is done. 4.) 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. Use Encryption for Sensitive Business Information Use full-disk encryption to protect all your computers, tablets, and smartphones. 1. Sign up for the free newsletter! Cyber Attacks on businesses seems to be inevitable- at least with the prevailing situation in the cyber landscape. 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. Restricting them from password sharing will also help. The number of cyber attacks on small businesses continues to rise. Therefore, even the most security-conscious businesses get vulnerable to cyber attacks. 1. Latest figures have shown that cyber crime affected 3.72 million people in the UAE in 2017– costing the country almost AED4 billion. 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