Cyber attacks are, unfortunately, increasingly common. The FBI’s Internet Crime Complaint Center’s 2019 Internet Crime Report shows that last year, the Center received the largest number of reported cyber crimes and the highest recorded cybercrime losses since it opened in 2000. There were 467,361 cybercrime complaints logged in 2019, resulting in a loss of $3.5 billion for individuals and businesses. The figures show cybercriminals are using increasingly sophisticated methods to target victims. This highlights the importance of companies proactively finding and fixing cybersecurity issues before they are targeted.
A successful cyber attack on your company can have far-reaching consequences. Data breaches are bad for reputation and will damage your customer base, and your business may also face financial penalties. A cybersecurity breach cost US businesses an average of $200,000, and more than half of companies that fall victim to cybercrime fail within six months of the attack. These figures show that cyberattacks are a very real threat to businesses, especially in these challenging economic times.
To protect your business from the threat of a cyber attack, you need to proactively identify the weaknesses in your cybersecurity and implement fixes.
Assess the Risk
Protecting your business from cybercrime requires a thorough understanding of your current risk levels and the identification of vulnerabilities in your security. To gain the full picture of your current weaknesses, you need a detailed risk assessment performed by a professional IT service provider. The risk assessment should examine your cybersecurity on every level, from employee permission levels to your policies and procedures.
Once your hardware, software, network, and entire IT infrastructure have been assessed, your IT provider will be able to identify weaknesses. Weaknesses could include overworked systems, out-of-date software or programs that need security patches, and even employee practices such as poor password habits that leave companies vulnerable to cyber threats.
Take Action to Reduce Risk
Following the risk assessment, you need to start taking action to eliminate the risks identified. Using the professional services of a cybersecurity expert will ensure that your security weaknesses are addressed thoroughly to provide you with the maximum level of cybersecurity protection.
A cybersecurity expert will use their specialist knowledge to tailor security solutions to match the needs of your business perfectly. They may recommend you update your equipment to fully meet the needs of your business’s traffic, or they might simply suggest cybersecurity training for your employees. Whatever your level of risk, your IT expert will be able to give you the best recommendations for your situation.
Monitor Systems and Continually Assess Risk
Protecting your business from cyber crime is an ongoing activity. To stay secure, your business’s systems need to be constantly monitored to proactively prevent vulnerabilities and thwart attacks.
A risk assessment is not a one-time-only task. Cyber criminals continually develop more sophisticated methods to target victims, so frequent risk assessments are needed to respond to this ongoing threat.
Protecting your business from cybercrime requires a proactive approach. Regular, thorough risk assessments to identify weaknesses, along with continual monitoring, will give you the highest chance of success when it comes to your business’s cybersecurity.