In today’s climate, you need to have your wits about you when it comes to cybersecurity. It could happen at any time and have devastating effects on your business. To prepare your business for a cyber attack and prevent them from happening in the first place, here are a few things you must do:
Update and Review Your Security Policies
Did you know that weak or insufficient passwords cause more than half of all data breaches? But only 24% of small businesses have strict password policies in place. Take some time to review your security policies regularly to make sure that they’re comprehensive and you can enforce them.
Implement Regular Cybersecurity Drills
As you would in the case of a fire, conduct drills in the case of a cybersecurity attack, so everyone knows what to do. They say practice makes perfect, so during your exercise, you can assess response timing, see how quickly individuals and teams respond and also how fast you can inform customers of the most current and accurate information.
Invest in the Right Insurance Policies
Do you have cyber liability insurance? It helps to mitigate the cost of an attack and in most cases, is available both as a standalone policy, as well as an add-on to a business owner’s system. You can have either first-party coverage which can help cover expenses when your network is hacked, or your data is stolen, or third-party coverage which gives you protection when a partner or customer sues you for allowing the data breach to happen.
There are many courses you can attend to get your knowledge on cybersecurity up to speed. These courses will teach you about the risks and resolutions in the event of a cyber attack. Alpine Security offers cybersecurity training as well as a risk management programme.
Now, you could have all of these precautions in place but yet still become a victim of a cyber-attack, so in that case, do you know what you should do to minimise the damage?
Take Everything Offline
As soon as you suspect that any of your systems have been compromised, you need to take all of your services offline as quickly as possible. If someone has managed to access your data, you need to limit the amount of information they get.
Inform the Authorities
Whether you are a small business of a large company, having someone steal or attempting your data is a severe offence. You need to inform the relevant authorities straight away so that they can commence an investigation.
Update Your Customers
Informing your customers is also vital; you should prepare a statement to outline what has happened and if there are any potential risks to the customer’s data. Even if you don’t know if any data has been lost or stolen, or what details they may contain, your customers need to be informed so that they can monitor their bank accounts to see if any suspicious activity has taken place.
Then, review and strengthen your procedures again.