It’s no secret that cyber attacks are on the rise. In fact, according to a report from Symantec, there was a 1, 885% increase in ransomware attacks in 2021 according to the Cyber Threat Report. That’s why it’s more important than ever for companies to take steps to protect themselves from these types of attacks. In this blog post, we will discuss some of the changes companies need to make to avoid being hacked.
Skale Money Key Takeaways
- Implementing GDPR compliance can help prevent cyber attacks by ensuring comprehensive security measures are in place.
- Improving security protocols, such as enforcing strong passwords and two-factor authentication, significantly reduces cyber attack risks.
- Educating employees about cybersecurity is crucial as they are often the weakest link in an organization’s security.
- Regularly updating software, backing up data, and installing firewalls and intrusion detection systems are essential protective measures.
- Monitoring network activity for suspicious signs and investing in cybersecurity insurance can provide additional layers of protection.
Table of Contents
8 Changes Companies Need to Make to Avoid Cyber Attacks
Here are 8 changes and things companies need to do to avoid cyber attacks:
1)Implement GDPR
The EU General Data Protection Regulation (GDPR) was introduced in May 2018 as a response to the UK’s General Data Protection Regulation (GDPR). The regulation binds companies to certain data handling and security requirements, intended to protect the privacy of digital citizens.
While GDPR compliance is not mandatory for companies outside the EU, it is becoming increasingly important for companies that process or store the personal data of EU citizens. Compliance with GDPR can help prevent cyberattacks in several ways in that it ensures that companies have comprehensive security measures in place to protect the personal data they collect and process.
Also, mandating that companies notify authorities and affected individuals of data breaches within 72 hours of discovery, helps reduce the level of damage in case of a cyber attack. Compliance with GDPR is not only a good way to protect the personal data of EU citizens, but it is also an effective cyber security measure.
As more and more companies come under GDPR’s purview, we will likely see a decrease in the number of cyberattacks. To learn more about GDPR, you can check out the complete guide to the GDPR.
2) Improve Security Protocols
One of the most important things companies can do is improve their security protocols. Improving security protocols can help organizations avoid costly cyber-attacks and data breaches. Making changes to the security measures enables businesses to protect their confidential data and prevent unauthorized access to their systems.
For example, the company can ensure that passwords are not reused. In addition, companies can ensure that all employees are aware of the importance of security and this helps reduce the likelihood of human error that could lead to a breach.
While no security measure is 100% effective, take steps to improve defences, ensure all employees have strong passwords, and use two-factor authentication, this way, businesses significantly reduce the risk of becoming a victim of a cyber attack. You can take the advantage of fraud detection tools using artificial intelligence.
3) Educate Employees On Cybersecurity
Employees are often the weakest link when it comes to security. They may click on malicious links or open attachments from unknown senders. They may simply not be aware of best practices for keeping their devices and data safe.
By educating them about cybersecurity, businesses help reduce the risk of attacks. Employees will be less likely to make mistakes that could put the company at risk. They’ll be better equipped to spot and report suspicious activity.
There are a few key things that businesses should keep in mind when educating employees about cybersecurity:
- Make it mandatory: Employees should understand that cybersecurity is important and that they have a responsibility to keep the company safe
- Keep it simple: Use clear and concise language to explain the threats and how to avoid them
- Make it relevant: Explain how cyberattacks can impact the business and employees’ jobs
- Make it engaging: Use interactive activities, like quizzes or games, to make learning about cybersecurity more fun
4) Keep Software Up To Date
Outdated software is one of the biggest security risks for companies. All software should be kept up to date, including operating systems, security software, and applications. Running the latest versions of software enables companies to have the most recent security features and patches. Newer versions of software also tend to run faster and be more stable than older versions.
If the software of your company isn’t up to date, you’re leaving yourself vulnerable to attack. Cybercriminals are constantly looking for ways to exploit old software, and if you’re not running the latest version, you could be an easy target. In some cases, simply using an outdated piece of software can put your entire system at risk.
5) Back up Data
One way to help avoid a cyber attack is to back up data. This can help because if data is lost or corrupted in an attack, it can be restored from the backup. Backing up data can also help identify what was lost or corrupted in an attack, which can help with recovery efforts.
There are multiple ways companies can use to back up data, including using an external hard drive, cloud storage, or a backup service. It is important to choose a method that works best for you and your organization. For example, backing up data to the cloud may be a good option if you have limited storage space on your devices or if you need to access the data from multiple locations.
Backing up data regularly is important to ensure that the backup is up to date. For example, you may want to back up data daily or weekly. You should also test the backup regularly to ensure that it works as expected and that you can access the data if you need to.
There are a few things to keep in mind when backing up data:
- Make sure to store backups in a safe place, such as a fireproof and waterproof safe
- Label each backup with the date it was created so you can easily identify which is the most recent backup
- Keep multiple copies of backups in different locations, such as on different devices or in a different physical location
Backing up data can be time-consuming and expensive, but it is worth it to help your company be safe.
6) Install Firewalls and Intrusion Detection Systems:
Firewalls are a great first line of defence against cyber attacks. They can help block suspicious traffic and prevent malicious software from getting onto your network. Detection systems can also help identify potential threats and help you respond quickly if an attack does occur.
Taking the steps to install these devices can go a long way in protecting your company from cyber-attacks.
7) Monitor Activity:
It’s important to monitor activity on company networks for signs of an attack. This includes things like unusual login activity or unexpected traffic spikes. The signs may be small, but they can alert you of a possible cyber attack.
Here are four signs companies should watch for:
- Suspicious IP addresses: If you see an IP address that doesn’t belong on your network, it could be a sign of an attacker trying to gain access
- Unusual activity: If you see unusual activity on your networks, such as devices connecting at odd times or strange traffic patterns, it could be a sign of an attack.
- Changes in files: If you see changes in files that you don’t recognize, it could be a sign that attackers have gained access to your system and are trying to cover their tracks.
- Emails from unknown senders: If you receive emails from an unknown sender, be wary of opening them. They could contain malware that can infect your system
By monitoring these signs, you can help protect your company from a cyber attack. If you see any of these signs, be sure to investigate further and take action to secure your system.
8) Investing In Cybersecurity Insurance
Cybersecurity insurance is not a new concept, but it is becoming more popular as the number of cyberattacks increases. Many companies are now turning to cybersecurity insurance to help protect themselves from the financial damages that can be caused by a cyber attack.
There are many benefits to investing in cybersecurity insurance, including:
- It can help your company financially recover from a cyber attack
- It can help educate your employees on how to prevent cyber attacks
- It can provide peace of mind knowing that you are protected from the financial damages that can be caused by a cyber attack
If a company is considering investing in cybersecurity insurance, there are a few things they need to keep in mind. First, they need to make sure they choose a policy that covers the types of attacks that your company is most at risk for.
Second, they should work with an insurance broker who understands the cybersecurity landscape and can help you find the right policy for your company. Investing in cybersecurity insurance is a smart way to protect your company from the financial damages that can be caused by a cyber attack.
Conclusion
Cybersecurity is a critical concern for all companies, large and small. Making the necessary changes to your company’s policies and implementing the strategies highlighted in this article, will help protect the company from cyber-attacks and data breaches.
FAQ
Why is cybersecurity becoming increasingly important for companies?
Cyberattacks are on the rise, with a reported 1,885% increase in ransomware attacks in 2021, making it crucial for companies to protect themselves.
How can implementing GDPR help prevent cyberattacks?
GDPR ensures companies have comprehensive security measures in place and mandates quick notification of data breaches, reducing potential damage.
What are some key steps in educating employees about cybersecurity?
Make it mandatory, keep it simple, make it relevant to their jobs, and use engaging methods like interactive activities or games.
Why is keeping software up to date important for cybersecurity?
Updated software includes the latest security features and patches, reducing vulnerabilities that cybercriminals could exploit.
What are the benefits of investing in cybersecurity insurance?
It can help companies recover financially from attacks, educate employees on prevention, and provide peace of mind against potential damages.
