Many businesses have switched from traditional ways of doing things to the all-inclusive web integrations, such as using social media tactics.
This is a move that has been necessitated by technological advancements and the need for convenience.
But with the value technology brings, it also brings negative aspects, such as issues with security.
For example, as you switch to cloud storage for your valuables such as legal documents, financial records, and contacts, issues with security can arise if you aren’t protecting your assets properly. Are you doing enough to ensure that they are safe?
Unfortunately, many enterprises do not have security policies in place. While different companies have varying security needs, reading through our top security suggestions will guide you through the practical steps that are fit for your business.
But first, here are some of the security and privacy risks facing small and medium-sized businesses.
Table of Contents
3 biggest security and privacy risks for small and medium businesses
Data breaches
Small businesses face data breach risks. This happens when confidential and sensitive information and data becomes accessed by an unauthorized person.
A data breach can happen as a result of an attack – when attackers successfully intercept a business network to extract sensitive information.
It can also happen when employees or former employees – in what are known as insider threats – expose the sensitive information relating to a business.
Ransomware attacks
In this form of attack, the criminals encrypt a business’ data making it unusable or inaccessible, until such a time when the business pays a ransom to regain access.
Many ransomware cyber-threats eye small businesses. These attacks tend to leverage on security vulnerabilities of small businesses and the need to resume operations as soon as possible, else, they collapse.
Phishing attacks
This is an attack (through email) by cybercriminals posing as trusted contacts such as your bank. The emails contain enticingly labelled content like cash rewards and are normally crafted to dupe an unsuspecting email user.
Clicking on the link or the attachments on these emails downloads a malicious file into a victim’s device. The file harvests a user’s sensitive data like account details, contacts, and bank information without their knowledge.
When targeting people in small and medium businesses, attackers can pretend to be legitimate business persons or people in management positions. They may then proceed to ask for quick actions such as payment of a certain sum of money to a fraudulent account.
3 ways to ensure your business stays private
Image from Pixabay.com
Use security tools
Businesses should use security tools as part of their defense against prospective cyber threats. Antimalware software detects and blocks any malicious software that attempts to invade a device. On the other hand, what VPNs do is offer security businesses by encrypting their internet traffic through a secure and private tunnel.
Staff training
Businesses should also invest in strong security awareness campaigns within their organizations. This will help employees and other team members spot security concerns such as phishing emails.
With some basic training, they will also be able to identify the red flags of a potential attack and communicate it to the IT team before the consequences are dire.
The staff members should also develop a habit of restricting access to work accounts only to authorized persons.
Backup your data
Prepare your defense against attacks such as ransomware by storing backups of all business data.
Use both cloud and external hard drives just in case one option fails you. This way, your business will always be ready to spring back into action in the event of an attack.
Conclusion
Any business can become a victim of the cyber threats discussed above. The attack scenarios may seem unrealistic, but that is until your business becomes a target. Use the tips shared above to have yours on the safe side.
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- 3 Top Security Tips For Your Business’ Privacy - December 25, 2020
