Adopt cyber security solutions to protect your business.
What is Cyber Security for Businesses?
The business world depends on computers. From a small retail shop to major MNCs, from the CEO to ground employees, we use computers to do our job everyday. Cyber attacks are inevitable for every business that wish to stay connected.
Cyber attacks can cause major financial loss to businesses. This includes loss of corporate information, loss of financial information, loss of customer information and contacts. Companies also spend tremendous effort to recover these data.
Cyber Threats and Attack Vectors
Data breaches occur nearly every day. Remember July last year, Singapore had its largest data breach in history, with 1.5 million patients information were lost from the cyber attack at SingHealth’s specialist outpatient clinics.
Then again at January, came the second health data breach within six months. 14,200 HIV patients’ personal information was leaked. Data including names, contact details and HIV related medical information.
MNCs, even government agencies, are exposed to the threat of cyber attack. They sure have adopted their own cyber security solutions. Still, security breach exist.
Many thinks that SMEs have less chance of being attacked since they have less data to steal. In fact, the U.S. Congressional Small Business Committee found that 71 percent of cyber-attacks happened at businesses with less than 100 employees. Even more concerning, the 2016 State of SMB CyberSecurity Report by Ponemon and @Keeper found that 50 percent of SMBs have had a security breach in the past year.
Small businesses often have less secure networks and makes it easier for cyber criminals to work on. by using automated attacks, cybercriminals can breach thousands or more small businesses, making the size less of an issue than the network security. The CSO.com article says that lack of time, budget and expertise for proper security is a top reason for the high rate of SMEs attacks.
Jeff Melnick listed down 10 types of most common cyber attacks.
- Denial-of-service (DoS) and distributed denial-of-service (DDoS) attacks
- Man-in-the-middle (MitM) attack
- Phishing and spear phishing attacks
- Drive-by attack
- Password attack
- SQL injection attack
- Cross-site scripting (XSS) attack
- Eavesdropping attack
- Birthday attack
- Malware attack
Detecting and Mitigating Cyber Threats and Attacks
Computer attacks and data breaches are inevitable. What could you do to prevent a data breach in your business? How to mitigate the consequences brought by cyber attacks?
- Have a strong sense of cyber security internally
Build awareness with your employees, make sure they have been trained with relevant security measures. Such practices includes setting a strong passwords, 2FA authentification, rules to protect customer information and data (PDPA).
Especially most employees now use their personal mobile devices to handle work related data, it creates significant security and management challenges. When they have access to company confidential data on their mobile devices and surfing other unauthorised networks at the same time, it is easier for cyber criminals to act on. Install security applications to prevent these and be sure to set reporting procedures for lost or stolen equipment.
- Provide firewall security for your Internet connection
Firewall protection is a vital part of any cyber secucity strategy. A comprehensive firewall is able to prevent outsiders from accessing data on a private network. Popular firewalls in the market includes Cisco, Fortinet, WatchGuard, Juniper.
- Create backup of important data
Regularly backup the data on all computers and servers. Larger corporations with large amount of data shall use data continuity solutions to help them safeguard their data.
- Limit employee access to data and information, limit authority to install software.
Do not provide any one employee with access to all data systems. Employees should only be given access to the specific data systems that they need for their job scope. Users should also be given limited authority to install third party softwares.
Business Connectivity provides cyber security solutions for businesses regardless of its operational size. Email us at firstname.lastname@example.org to find out the best solution that suits your business!