More and more, our world runs on technology, and digital systems are here to stay. Businesses rely on digital technology to communicate, advertise, store files and many other processes that go along with day-to-day operations. Unfortunately, data breaches are all too common and it’s vital to protect your company against them with cyber attack safety.
Cybersecurity best practices
Your employees hold the future of your company in their hands (and keyboards). So the actions they take every day when conducting company business can make or break whether cyber thieves are able to access your online information and hack into your company databases. You can help keep your systems safe with the following cybersecurity best practices:
- Use a virtual private network (VPN). If you have all or many employees working remotely, this is essential. But even if you still have workers coming into the office, installing a VPN gives you a secure Wi-Fi connection over which company communications and files have a much greater chance of staying safe.
- Require strong password protection. Your VPN and all systems should be password protected to ward off unwanted access. The best passwords are complex, with at least 10 characters that include numbers, letters and symbols. Passwords should also be updated on a regular basis.
- Use Multifactor Authentication (MFA) across all systems. Multi-factor Authentication (MFA) is an authentication method that requires the user to provide two or more verification factors (not just a username and password) to gain access to a resource such as an application, online account, or a VPN. MFA is a core component of a strong identity and access management (IAM) policy.
- Help employees recognize potentially malicious communications. Cybercriminals are experts at what they do! Emails or social media contact may look legitimate, even if they’re from hackers, and it’s important for employees to recognize when a communication could be a cyberattack. You should be deploying regular phishing tests to keep employees on their toes and conduct training at least annually for staff. It’s important that employees do not open anything that seems suspicious or that has come from a source they don’t recognize. And company or personal identifying information should never be shared without proper security measures in place.
- Install security systems. Firewalls, anti-virus software, malware protection and more are all resources to help keep your data safe. You might choose to outsource your security needs to a specialty vendor, or work in-house with your IT department to get them set up.
Choose cyber liability insurance
Another line of defense is purchasing a policy that will help protect your bottom line in the case of a breach by reimbursing for expenses such as privacy notifications, hardware/software, data restoration, and even ransom. Each state determines what constitutes a theft of personally identifiable information, but ultimately you are on the hook for protecting the data you keep. Fines and penalties can be levied against the company if you are found to have improperly secured your systems, leading to a breach. Using third parties to process payroll or take payments does not mean you are free and clear of the responsibilities involved in owning that data, and an insurance policy can help absorb some of the costs incurred during a Cyber event.
Contact Odell Studner to learn more
We offer risk management services that help you identify and analyze. This includes a risk audit, penetration testing, education and training. We’ll help you identify and analyze potential cyber risks faced by your company, and education and training to help your employees keep company information safe. We also offer cyber liability insurance. To learn more about this and other available services, contact us today!