Finance

The 5 Cyber Security Risks Most Small Businesses Ignore

Unfortunately, even a simple breach of security can cause significant damage to a growing business, but it’s a reality you must prepare for. Cybersecurity is a topic that needs to be taken seriously, even in small companies, but all too often, it takes a back seat as a low priority. Large corporations have the resources to invest heavily in cybersecurity (sometimes recruiting their in-house teams) and the vested interest of having millions of dollars of resources to protect. On the other hand, small businesses have a lower risk of being the victim of an attack and fewer resources to allocate to IT security.

Cyber Security

Nevertheless, businesses must take simple, basic steps to protect their information. Neglecting even one of those steps could open the door to any hacker with enough time to go through with an attack. Don’t let yourself ignore these five important cybersecurity risks:

Ex Employees

Most “hacking” attempts don’t involve some techno-genius with 20 monitors holed off in a remote lab. They involve simple, everyday people with password knowledge and the motivation to do some harm. Sometimes, this is a move for profit, but other times, it’s a move to be destructive purely. Either way, a disgruntled or vengeful ex-employee could easily take advantage of your systems (if you don’t have the right countermeasures in place).

When an employee leaves for any reason, it’s important to take inventory of all the passwords they hold and the systems they access. Immediately disable access to those systems in any way you can; sometimes means deleting an account, and other times it will mean changing passwords. Don’t take the risk.

Phishing Scams and Software Vulnerabilities

Here again, we find that the critical vulnerability is human-based. It’s easy for a worker to neglect a personal cybersecurity responsibility during daily operations. For example, a poorly informed worker receiving a strange email could easily fall victim to a phishing scam, revealing a password and making it easy for an outside hacker to access your systems.

RELATED ARTICLES :

Software vulnerabilities, such as PCs not protected from malware, browsers, or plugins that are not up-to-date, could also easily allow an attack. To prevent these possible attacks, make it your job to keep your employees informed about the possibilities of attacks and best practices for keeping your corporate information secure.

Lazy Password Policies

Most “hackers” get in through password knowledge rather than a complex backend forced to attack. I’ve already explored the possibilities of obtaining this password as pre-existing knowledge or as an acquisition from a phishing scam. There’s also the possibility that your password could be guessed.

Make it a point to ensure that any passwords you or your team develop are secure—avoid common passwords like “password” or “1234567,” and include a healthy mix of lower-case letters, upper- in 74 percent of workplaces. Under a BYOD policy, employees can bring their digital devices to the office for work or personal use (while on breaks, etc.). On the surface, it seems innocuous to allow your workers to bring in their mobile phones, tablets, and other personal devices—in fact, it would seem strange in this era if you didn’t allow workers to bring those devices.

Most of us don’t go anywhere without our smartphones. But you must realize those devices can be deadly gateways to your company’s infrastructure. A smartphone wirelessly connected to your Internet could be an easy backdoor into your systems if you choose to have a BYOD policy, set restrictions on how those devices can be used, and raise awareness about personal device security.

Poor Choices in Vendors and Suppliers

Not all security risks are internal—by some accounts, more than 75 percent of all security breaches are due to an external third party’s infiltration. For example, if a hacker gains access to a CRM system, it can easily find records of your business’s contacts, contracts, and histories, which can then be exploited.

There are a few ways to prevent this possibility. The first involves carefully selecting third-party vendors to deal with—ensure all your partners, vendors, and suppliers have advanced security measures to safeguard your personal account information remains safe. Second, whenever you move to switch suppliers, be sure to obliterate your information from your previous supplier’s site. The fewer active relationships you maintain online at any given time, the better.

Take action to prevent these cybersecurity risks; waiting until a breach happens will already be too late. Fortunately, countermeasures against these potential breaches are often inexpensive and require technical effort. Make those small, important steps, and you’ll put yourself at a far lower risk of being a victim.

About author

I work for WideInfo and I love writing on my blog every day with huge new information to help my readers. Fashion is my hobby and eating food is my life. Social Media is my blood to connect my family and friends.
    Related posts
    Finance

    The Best Strategies for Managing your Investments

    Finance

    Business Energy Deals

    Finance

    Four Things To Do When You Need Money Now

    Finance

    5 Reasons Your Business Might Need a Loan

    Sign up for our newsletter and stay informed !