Why you need a strong Cybersecurity shield?
The first question that probably comes to mind is:
‘What on earth is a cybersecurity shield?’
Roman warriors bearing a big shield as protection in battle may come to the forefront of your imagination. Alternatively, you may be thinking of one of those toy ‘knight’ shields every millennial played with growing up?
Don’t worry, we haven’t quite lost the plot, yet; a Cybersecurity shield is simply the methods you use to keep your business protected against cybercriminals.
Could you run your business if you couldn’t communicate with your clients?
Being able to communicate with customers and manage their needs is essential to the smooth operation of your business. Right?
Imagine the consequences(financially & stress) if you could not access ANY customer data which you use to operate. How could you possibly run your business if private, confidential customer data was stolen and held at ransom?
These questions answer themselves. It is essential for companies to assess their organisation and find out what may be of interest to an attacker. One way or another, your data has some sort of monetary value or could become valuable if placed into the wrong hands.
GDPR means a plan of action is a must have:
On the 25th of May 2018, New GDPR regulations came into force. Ever since the regulation was introduced, the stakes of being breached have been significantly raised for any companies holding personal client data.
If your company does suffer from a data breach, you may be subject to larger fines along with a short 72 hour time frame in which you have to report the breach to regulatory authorities. Whilst 72 hours may seem like a long time, by the time you figure out what happened, what personal data was breached, who was affected and then actually notify the ICO, this timeframe can, in fact, prove to be extremely limiting.
Is it time to update your Insurance policies?
Many companies have yet to realise the full extent of damage a cyber attack can cause to their business. 7 years ago, cybersecurity did not even rank among the top 10 risks being prioritised by companies- nowadays; it is one of the most hotly talked about risk areas in the industry.
When checking your insurance options it is worth considering how well your current cyber insurance policy protects you.
We advise asking yourself 4 simple questions:
- Does your policy cover the financial costs of a breach?
- What kind of cyber incident response does it provide? (Custodian 360 for example)
- Are the payout limits of the policy likely to be high enough to cover expenses in the event of a breach?
- What does your policy not include? Make sure you know just how well your business is covered.
6 Essential steps for strengthening your Cybersecurity shield:
In a toxic environment where cyber threats are daily and continue to get more prominent, shielding your organisation from threats is more than a complex password or end to end encryption. We have listed our top 6 rules for strengthening your Cybersecurity shield which your company should be putting into action.
- Focus on Passwords: Remind your employees that they should be using complex, varied passwords for all their accounts. A simple step like this can easily cause problems for your company if employees use the same, simple password for everything.
- Train employees how to spot a suspect: Teach employees how to identify phishing emails or fake requests for information. If an employee manages to spot and then report suspicious activity, your security systems may be able to block the IP address from attempting to cause any more issues.
- Review your access rules: Identify any information in your organisation which is deemed to be sensitive and decide which employees have access to which files. Is it really necessary for everyone to have access to every single file? Important data could cause major issues if security is compromised; the fewer employees that have access to the most sensitive data, the lower the risk of any data breaches.
- Conduct a Cybersecurity audit: It is important to asses your organisation’s technology and high-risk practices so you are able to identify any vulnerabilities in advance of a potential breach. It is important to do this prior to suffering a breach so any necessary precautions can be taken before it is too late.
- Earn the Cyber Essentials badge: The UK Government has developed a basic set of technical controls in partnership with the IASME and the ISF to help organisations protect themselves from the common cybersecurity threats- certainly a badge worth showing off!
- Technology doesn’t always do its job: Not one single piece of software can be completely secure from bugs and security flaws- hackers are constantly creating new ways to exploit computer systems and more often than not developers simply cannot keep up. Don’t assume that all your software is 100% safe. Make sure you are doing valuable security updates whenever possible.
Your organisation’s cybersecurity is the responsibility of the whole company. All employees should understand that they are responsible for protecting sensitive data which the organisation holds.
Whilst it is the organisation’s responsibility to provide the tools, at the end of the day, it is down to the employees to protect the overall cybersecurity of the company.