3.) The more eyes on your businesses cybersecurity, the better. The high cost of cyber attacks on small businesses. However, if your company has an online presence, stores customer and company data on digital devices and uses cloud-based software, a thorough cyber security strategy is essential. Discourage password sharing Employers can create a security conscious culture in which password sharing seldom happens. Cloud computin… “The average cost associated with the cyber-attack, among those targeted, was $8,699.48.” In addition, nearly half of all small business owners surveyed claimed to have at one time been the victim of a cyber attack. Attackers target the disclosed vulnerability during this window of time. Stay ahead by backing up data and storing it separately After encryption, backing up all data is another key way of protecting yourself from security breaches. How to Fix the Vulnerabilities Targeted in the SolarWinds and FireEye... How to Secure Your Apps with SaaS Security Posture Management (SSPM), List of Countries which are most vulnerable to Cyber Attacks, Top 5 PCI Compliance Mistakes and How to Avoid Them, Google not to use Fitbit data for advertising purposes, Smart Tachographs: Innovation out of necessity. Teach avoidance of unsecured websites Staff members should be taught about the importance of never accessing unsecured websites on work devices because this gives cyber criminals direct access to sensitive data that is stored on that device, as well as browser histories and passwords. This can include: Weak passwords. 7.) Zero-day vulnerability threat detection requires constant awareness. Investing in cybersecurity measures may not rule out an attack but will alert the business to attempts and were to up the investment in more measures to keep the hackers away from core systems. As outlined in this article, the steps to achieving the peace of mind and financial security that such a strategy brings should involve the use of up-to-date data encryption, data back-up, and firewalls and anti-malware software. Latest figures have shown that cyber crime affected 3.72 million people in the UAE in 2017– costing the country almost AED4 billion. Such breaches were more common in businesses in which staff members use their personal devices for work. Having up-to-date antivirus software isn’t just important to protect your business from phishing attacks, they’ll help protect from all sorts of dangerous threats. Over 90% of cyber-attacks use information stolen from employees who unwittingly give it away. Restrict network admin rights  Restricting IT admin and access rights to a small handful of users is invaluable in minimizing the risk of data breaches as employees cannot give away information they don’t have access to. Cyber Attacks on businesses seems to be inevitable- at least with the prevailing situation in the cyber landscape. You can delegate this responsibility for preventing cyberattacks to a Cyber Security Operations Center where trained professionals help and investigate threats and data breaches around the clock using state-of-the-art resources. Always be wary of cybercriminals, work like you expect an attack. Save a copy of your encryption password or key in a secure location separate from your stored backups. As staff members grow tired of the inconvenience, they are likely to return to accessing work on personal devices, regardless of policies prohibiting this. How to stop cyber-attacks on your organisation ... experts to discuss how best to protect the UK’s critical networks and businesses from cyber-attack. So, it is important to invest in software that has been specifically designed to deal with this challenge. These updates are made in response to the latest cyber threats and are therefore a key tool in the fight against cyber attacks. Companies can achieve the latter by always encrypting their data. By not only educating staff members on the risks, but also by leading by example and never sharing passwords or asking staff members to temporarily log in guests, contractors and new hires. Like storing the data on the cloud which is protected by multiple security layers and inculcating responsible BYOD security policies among the employees working for your business environment. 2.) You should use a very strong password to prevent from cyber-attacks. Encrypt data- Encryption of data gives your company an upper hand when your data falls into wrong hands. Use separate computers for business and home. It is therefore more impactful to teach staff how to use both their personal devices and work devices in a way that minimizes the risk of being hacked. Use Encryption for Sensitive Business Information Use full-disk encryption to protect all your computers, tablets, and smartphones. One of the most effective ways to prevent cyber attacks is to ensure that multi-factor authentication has been enabled for all applications that access the internet in your organization. Create a security-focused workplace cultureEmployees are the most common cause of data breaches as many don’t recognize external threats when they occur or have a good understanding of the daily actions that leave a company vulnerable to a cyber attack. Knowing How to Prevent Cyber Attacks Can Seem Difficult. This includes educating them about risks associated with using unsecured networks to access work info and avoiding unsecured websites and sharing sensitive data on social media. Always entrust this information to a key figure in your IT department and ensure that (s)he is adequately trained on the safe and encrypted storage of this information. This should include clear definitions of what unsecured networks are, and where they are commonly found such as in coffee shops, airports, hotels and so forth. The first and foremost solution to prevent cyber attacks on companies is to have a secure and sophisticated hardware which are password protected and backed up by 2-way authentication. One reason for the increase in incidents is that end-user software like Cryptolocker has commoditized the malware industry, making it accessible to a wider variety of criminals and less-skilled hackers. Seek specialist advice for cyber security insurance Minimize your risk by seeking specialist help to select the best type of insurance for your company, based on your risk of attack and the financial impact of such an event. Also, it is better if you don’t overlook the effectiveness of protecting your physical storage disks. Therefore, even the most security-conscious businesses get vulnerable to cyber attacks. For example, the UK Cyber Security Breaches Survey 2018, carried out by the UK government and Portsmouth University found that 43% of UK businesses have experienced a cyber security breach or attack over the last 12 months, with only 20% of UK companies offering training to staff within the same time frame. Ransomware can work quietly in the background and only be detected by an anti-virus programme when it is too late to save your files. Here are five tips to help you do just that: 1. Social media security 2. The losses that can be incurred from data breaches are best mitigated by investing in cyber security insurance, yet only 9% of UK businesses and 15% of US businesses have this type of insurance, according to the UK Department for Digital, Culture, Media and Sport, and the US Better Business Bureau, respectively. But it doesn't have to be. 5. ) But security analysts say that to a large extent most of these attacks are avoidable if companies chose to follow the below-specified steps crafted specifically to protect their enterprises against cyber attacks. As you can see, there are number of ways small businesses can fall victim to cyber attacks and fraud. An effective cyber crime protection strategy must consist of two elements: preventing physical access to sensitive data and rendering that data useless if … Cyber Attacks Key Elements that is essentials to be Protected. With an increasing amount of cyber-attacks that are designed to steal usernames and passwords (the gateway to data loss and business downtime), this webinar will help you understand just how Multi-Factor Authentication (MFA) can be used to stop those attacks in their tracks. )to copy files to or from any organization computers. The US, Japan, Britain and South Korea have been identified as some of the biggest targets. Email recipients typically need the same encryption capability in order to decrypt. Hackers usually find such passwords difficult to break. Encrypt and back up dataAn effective cyber crime protection strategy must consist of two elements: preventing physical access to sensitive data and rendering that data useless if it falls into the wrong hands. If you’re a business owner or manager using computer services, you need to secure the network with a VPN, install a firewall, and use solid passwords to prevent privacy breaches. While effective anti-malware tools catch and isolate software viruses when they strike, preventing these viruses from entering your database in the first place is vital. Copyright © 2020 Entrepreneur Media, Inc. All rights reserved. It’s wise to invest in cybersecurity insurance these days- Because cybercriminals are becoming too sophisticated these days, they are coming up with ways to break into the most advanced cyber defenses. Protect against the threat of an attack Even though the threat of cyber attacks is real, it’s easy to forget all about it until one strikes. Cyber Attack Prevention Plan. While it’s almost impossible to plan for every potential cyber attack, a little proactive monitoring and a well-defined series of steps won’t hurt. IT support firms advise that you educate personnel on security best practices to safeguard your SMB's network. Also, implement complex system passwords that are unique while maintaining a corporate environment that prevents personal and confidential information from being exposed. • Warning signs of cyber-attacks • Safe practices that they should use • Proper way to respond to a cyber-attack. Even if you don’t currently have the resources to bring in an outside expert to test your computer systems and make security recommendations, there are simple, economical steps you can take to reduce your risk of falling victim to a costly cyber attack: Train employees in cyber security principles. Backup data- Sometimes no matter how hard you try, hackers get into your network and try to encrypt your data with ransomware. 5 Cyber Attack Prevention Tips. Avast says that IOT are vulnerable to Cyber Attacks, Ransomware news headlines trending on Google. Though this will prevent the messages from incorporating any dangerous links, it also means that you won’t be able to receive links from legitimate senders. Investing in an optimized firewall is therefore key for preventing malware from entering your computer systems. Research by Datto has shown that 1 in 5 SMBs get hit by ransomware attacks. And with ransomware featuring as the most prevalent cyber security risk to small businesses today, protecting your business from ransomware and other types of malware is vital. A cyber insurance policy will take care of the costs associated with the attack and help you get your business back on its feet as quickly as possible. But if your enterprise has a backup copy of the latest, then you or your company need not bow to the demands of the hackers. 10 Ways Small Business Can Prevent Cyber Attacks. Thus, it’s better to outline some physical security strategies before any untoward incident occurs. Invest in cyber security insuranceBecause cyber criminals continue to work tirelessly to find ever more advanced ways of breaching security defenses, even the most security-conscious businesses remain at risk of an attack. Updates are improvements, so if you remain on older systems, there may be cracks in the defence systems that leave you vulnerable to cyber attacks. Increase employee awareness This is one of the most cost-effective methods of preventing a cyber attack. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. A business or company should start its cyber-attack prevention strategy by protecting its devices and other hardware with hard to guess passwords, limited access and trackers etc. And that’s due to the fact that it becomes useless even if a hacker sniffs it out- and mind you it’s not that easy to break into the encryption available in the market these days. Begin your cyber attack prevention strategy with the basics: protect all devices with a complicated password, share that password with the device user only and commit it to memory instead of writing it down in an easily accessible place. Regardless of how well-read you are on the latest cyber attacks out there, keeping your antivirus software updated will immediately eliminate 99% of the threats to your business. Here’s how to put these steps into action. Today, only 58 percent of U.S. mid-size companies train employees on cybersecurity. Do not overlook the effectiveness of physically attaching computers to desks. Secure your hardwareWith so much attention given to acquiring the newest and most sophisticated types of cyber security software, safeguarding the security of company hardware is often overlooked but the loss or theft of devices is a real threat to be aware of. Join thousands of cybersecurity professionals to receive the latest news and updates from the world of information security. If in case, an attack occurs, most of the policies not only cover the financial loss caused from data theft but also help in co-paying the costs involved in recovering data and that includes paying to data recovery experts and for buying new hardware as well as software. share that password with the device user only, improving your company protection from a cyber threat, Hacking For Good: UAE Startup VUL9 Wants You (And Your Enterprise) To Be Cyber Resilient, Why We Need to Worry More Than Ever About Getting Hacked, Phishing In All Its Forms Is a Menace to Small Businesses, Feds to Car Makers: Make Sure You're Ready for Cyberattacks, Global Financial Network SWIFT Warns Customers of Multiple Cyber Fraud Cases. 1.) The best offense is a good defense. A privacy breach leading to loss of data could spell doom for your firm. Related: Hacking For Good: UAE Startup VUL9 Wants You (And Your Enterprise) To Be Cyber Resilient, Image credit: Every day, cyber criminals are looking to use the internet to steal private information, money or disrupt how business is done. Top 5 Cloud Security related Data Breaches! 1. Here are five steps to take to reduce your risk of a cyber-attack: 1. Download and install software updates for your operating systems and applications as they become available. As highlighted by researchers in the International Journal of Advanced Computer Science and Applications, data encryption remains the ‘most efficient fix’ for data breaches, should they occur. After all, the best offense is a good defense. As more and more sensitive information is stored digitally, it’s important that your policy cover not only standard practices such as routine security audits and data backup, but that it also addresses newer concerns such as: 1. If you want to properly protect your company from a cyber attack, then you first need to be aware of both the internal and external vulnerabilities your business may be exposed to. It … Existing anti-virus tools are not very effective against ransomware, which changes almost as quickly as new anti-virus tools are developed. And then how to verify if a network is secure (secure networks require a key/password to access them). A cyberattack can compromise data and other assets, put your customers and users at risk, and damage your reputation. Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security, © Copyright footer_current_date - Cybersecurity Insiders, Why application-layer encryption is essential for securing confidential data, Payment Card Information leaked of Proliance Surgeons, Ransomware attack confirmed on Vermont Hospital, How to Fix the Vulnerabilities Targeted in the SolarWinds and FireEye Hack, Russia celebrates 100th anniversary for Cyber Attacks, 2020 Endpoint Security Report [ Delta Risk Motorola ], 2020 Cloud Threat Protection Report [ Netskope ]. Then how to verify if a network is secure ( secure networks require key/password! Same encryption capability in order to decrypt an optimized firewall is therefore key preventing! Protect themselves online it is better if you want to prevent cyber.... Knowing how to protect themselves online gives an opportunity to anyone and everyone walk. 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