Five ways to protect your Business from Cybercrime

The threat of cybercrime is something that has become of serious concern to all businesses in recent years, and research carried out by a global security software company found that the cost of cybercrime is currently estimated at around $400 billion, which has nearly doubled since 2016. Whether you are an employer or employee, it is important that you are aware of what cybersecurity is, what the consequences are, and how to protect yourself. Even though as a society we are aware of the threat of criminals in everyday life, we are less aware of the danger that e-criminals pose to us. Every week there seems to be a new hack or scam that aims to gather personal data and disrupt multinational companies. Therefore, it is important that you know how to protect yourself, so we have put this guide together to provide you with some ideas.

Keep Everything Up to Date

While it is commonplace for companies to have a security and virus program in place, many employees are guilty of not keeping on top of the updates that are required. While it is essential that you have a full security system to protect all work devices from cybercrime, it also needs to be regularly updated. Don’t assume that because you have a security system in place that you are protected, as it needs to be up to date with the latest software for it to work. To make this easier for you and your workforce, you should turn on automatic update reminders on electronic devices so that you are instantly notified as soon as an update is due, or there is a new version of the program to download.

Back-Up Your Data

If you are a business, then you will have a lot of private and sensitive data that belongs to customers as well as employers, which can increase your risk of being targeted by cybercriminals. Therefore, it is essential that you back up all your important and sensitive data so that in case you do become a victim of cybercrime, you can easily regain access to any missing data. However, ideally, you should also encrypt your sensitive data so that it is useless in the hands of a hacker.

Use Unique and Strong Passwords

For all work computers and accounts, it is important that you use a strong and unique password so that nobody could easily hack on to your device. Many of us are guilty of using easy passwords that are not only easy to remember but also easy for hackers to guess. Therefore employees should create a unique password that doesn’t include any memorable information such as their name or company name, as this is the first thing that hackers use when trying to hack professional accounts. You should also avoid using password combinations such as ‘1234’. Most security companies suggest that a strong password that is around 14 characters long and features symbols as well as letters.

Educate Yourself and Your Employees

Every week there seems to be a new and more sophisticated scam being created by hackers to target more victims, so it is important that you keep up to date and educate yourself and employees on the latest scams that are out there. This is particularly important if you want to protect important data at work, as a data breach can be catastrophic for a business and its reputation amongst clients. Therefore, if you are a business owner, then you should consider training for an online masters cybersecurity to provide you with the skills you need to protect your business. You could also encourage employees to undergo security training. Additionally, if you are considering opening a tech business, then being fully trained in cybersecurity is essential. Not only will it make you a more appealing company to do business with, but it also means you can always keep all your personal and business data safe.

Use Multi-Factor Authentication Features When Possible

When using certain websites, especially for business purposes, it is becoming more common for servers to require not only a password but a separate code from a text message or email as an extra layer of security when logging in. Popular social media platform Instagram has this feature across all accounts and recommends that all business pages use this to limit the chance of hackers gaining unauthorized access to their data.

It is essential that we don’t ignore the risk of cybersecurity, so make sure you follow these tips and advice, as failing to do so can be disastrous for your business.