Every year we experience new challenges in the world of computer hacking – as well as new solutions. Cyber hackers have become aggressive, and so business owners must be more vigilant. Because clients are the source of your revenue, it is critically important to ensure their data never gets into the wrong hands.
According to a recent survey conducted by the Better Business Bureau, more than half of small business owners reported they would no longer be profitable just one month following a data breach.
According to Bill Fanelli, the chief security officer for the Council of Better Business Bureaus and co-author of the report, a primary vulnerability for small businesses is the carelessness of its employees. In fact, Fanelli observed that one of the most cost-effective prevention tools – employee education – is used by less than half of the companies surveyed. All it takes is for just one employee to click on a nefarious link or open an infected attachment for a cyber attacker to walk through an open door to your business.
In many cases, business owners simply need to make employees aware of the types of behaviors that enable hackers to breach system security. To this end, the easiest prevention plan is to periodically conduct brief training sessions to reiterate the importance of:
Choosing a strong password
Changing the password often
Installing software updates as soon as alerts are received
Avoiding opening suspicious emails or online links
Never downloading unauthorized software or apps on company computers or smartphones
Firms should conduct a full assessment to protect their business from data breaches at least once a year. Also, it is recommended that business owners ensure all transactions are secured through solutions such as:
Automated Clearing House payments – an electronic network for financial transactions
Secure Point of Service terminals – an electronic device used to process card payments
One way to help protect your financial transactions is to consult with your small business banker for a review of your current transaction management services to ensure you’re doing all you can to protect your business and your customers.
How to Develop a Cybersecurity Plan
Consider using this five-step approach to help prevent your firm from being vulnerable to a data breach:
Devise a step-by-step written communication plan detailing how your firm will conduct ongoing monitoring and maintenance, and recover normal operations should a cyber attack occur
Identify at-risk assets, such as systems, data and financial operations
Protect each asset by using tools such as IT security, off-site/cloud backup and vendor protection measures
Develop an automatic alert system to detect incidents that indicate current or imminent threats to system integrity and lost or compromised data
Create a response plan that encompasses worse-case scenario and contingency planning, staff training, written procedures, reporting and outreach communications to staff, vendors, customers and the public, if necessary.
Cybersecurity might not be your area of expertise, but your customers rely on you to keep their data safe. It’s important to take precautions to minimize your risk from this ever-growing danger.
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Cyberattack Prevention Planning
September 1, 2018 · Blog, Uncategorized, What's New in Technology
⏱ 4 min read
Every year we experience new challenges in the world of computer hacking – as well as new solutions. Cyber hackers have become aggressive, and so business owners must be more vigilant. Because clients are the source of your revenue, it is critically important to ensure their data never gets into the wrong hands.
According to a recent survey conducted by the Better Business Bureau, more than half of small business owners reported they would no longer be profitable just one month following a data breach.
According to Bill Fanelli, the chief security officer for the Council of Better Business Bureaus and co-author of the report, a primary vulnerability for small businesses is the carelessness of its employees. In fact, Fanelli observed that one of the most cost-effective prevention tools – employee education – is used by less than half of the companies surveyed. All it takes is for just one employee to click on a nefarious link or open an infected attachment for a cyber attacker to walk through an open door to your business.
In many cases, business owners simply need to make employees aware of the types of behaviors that enable hackers to breach system security. To this end, the easiest prevention plan is to periodically conduct brief training sessions to reiterate the importance of:
Choosing a strong password
Changing the password often
Installing software updates as soon as alerts are received
Avoiding opening suspicious emails or online links
Never downloading unauthorized software or apps on company computers or smartphones
Firms should conduct a full assessment to protect their business from data breaches at least once a year. Also, it is recommended that business owners ensure all transactions are secured through solutions such as:
Automated Clearing House payments – an electronic network for financial transactions
Secure Point of Service terminals – an electronic device used to process card payments
One way to help protect your financial transactions is to consult with your small business banker for a review of your current transaction management services to ensure you’re doing all you can to protect your business and your customers.
How to Develop a Cybersecurity Plan
Consider using this five-step approach to help prevent your firm from being vulnerable to a data breach:
Devise a step-by-step written communication plan detailing how your firm will conduct ongoing monitoring and maintenance, and recover normal operations should a cyber attack occur
Identify at-risk assets, such as systems, data and financial operations
Protect each asset by using tools such as IT security, off-site/cloud backup and vendor protection measures
Develop an automatic alert system to detect incidents that indicate current or imminent threats to system integrity and lost or compromised data
Create a response plan that encompasses worse-case scenario and contingency planning, staff training, written procedures, reporting and outreach communications to staff, vendors, customers and the public, if necessary.
Cybersecurity might not be your area of expertise, but your customers rely on you to keep their data safe. It’s important to take precautions to minimize your risk from this ever-growing danger.
Successful people share useful content.
“Copy as Website Link” gives you ready-to-paste HTML for a web page. “Copy Link” copies the plain address for social media, email, or chat.
Disclaimer
These articles provide general information on tax, accounting, and financial topics for small businesses and individuals. They are educational in nature and are not specific legal, accounting, financial, tax, or other professional advice, and should not be relied upon as such. This content was prepared by Service2Client and may have been reviewed or edited by the website owner for accuracy and compliance. Look for a trust mark below for verification details. No representation is made that any approach described will achieve a particular result, and no regulatory or professional body has reviewed or endorsed this content. Because each situation is different, readers should consult a qualified professional about their specific circumstances before acting. Images accompanying these articles are protected by copyright and may not be copied or reused.
