Protecting Your Business From Hackers

In a time when technology dominates every sector, cybersecurity has become a serious concern for businesses of all types and all sizes. No matter what kind of business you’re in, you need to harden your systems to help thwart hacker breaches. These tips listed below are not just best practice, but necessity. Cyber threats are real. They come out of the blue and nearly always have the potential to cripple a company. But with some planning, understanding and precautionary safeguards in place, you can keep yourself, your business and your employees out of the fray.

Understanding the Threat Landscape

Before you can decide which protective measures are best suited for your business’s needs, you’ll need to understand the different kinds of cybersecurity threats that businesses commonly face today. Cyber threats can range from malware, phishing and ransomware attacks, to sophisticated social engineering tactics. Each type of attack has its own unique nuances and potential impacts on your business, ranging from data breaches to severe financial losses. In some cases—depending upon the kind of data your business collects from your customers—the threat could even make you vulnerable to lawsuits stemming from claims you did not take the necessary precautions to keep client data secure. So there is this added component to protecting your business—not just from hackers—but from potential litigation.

1. Educate Your Team About Cybersecurity

The first line of defense against hackers is your employees. Chances are, your employees have access to your company data on either your company’s internet or their own personal devices. You can’t assume that new or existing employees know enough about hacker threats to do the right thing when a threat arrives in their inbox or from another source. 

Regular training sessions should be conducted to educate your team about the latest cybersecurity threats and how to recognize phishing attempts. There are third party companies that you can hire to come out and train your staff if you don’t feel you have the ability to handle it in-house. At a bare minimum, ensure that your staff understands the importance of using strong, unique passwords and the dangers of using unsecured networks, especially when handling sensitive client data.

2. Implement Strong Access Controls

To protect sensitive information, implement strict access controls that limit who can view and edit different types of data. Use role-based access controls (RBAC) to ensure that employees only have access to the information necessary for their job functions. Additionally, multi-factor authentication (MFA) should be required for all accounts, particularly those with administrative privileges or access to sensitive data. If all this sounds too complicated, consider hiring a third-party company to put all this in place for your business. The extra expense is well worth it.

3. Keep Your Systems and Software Up to Date

Hackers often exploit vulnerabilities in outdated software and systems to gain unauthorized access to corporate networks. To combat this, ensure that all software, particularly antivirus and operating systems, are kept up to date with the latest security patches and updates.

4. Regularly Back Up Data

Regular backups are a critical part of any cybersecurity strategy. A good tip is to mark calendar dates for available backups. For example, you might back up data near the end of the workday each Friday. If worse comes to worst and a hacker wipes your system files, you’ll have that backup to get up and running sooner rather than later. Ensure that all important data, including financial records, client information, and business documents, are regularly backed up and stored securely. Ideally, backups should be stored in a different location than the original data, and some should be offline to protect against ransomware attacks. If you dislike backing up to the cloud, invest in backup modules that will hold all your business data. Just be sure to move it to a secure location with every new backup.

5. Secure Your Network

Securing your network involves several layers of protection. Start with a robust firewall to serve as a barrier between your network and potential threats. Use encryption for all data transmission, and consider using a virtual private network (VPN) for additional security, especially when employees are accessing the network remotely. Again, this is something that an outside IT company can handle for you. 

6. Monitor and Respond to Threats Promptly

Continuous monitoring of your network for unusual activity is essential. Implement security information and event management (SIEM) systems to help detect and respond to potential security incidents quickly. The quicker you can identify and respond to a threat, the less damage it can potentially cause. The worst thing you can do is bury your head in the sand, hoping that “it’s nothing.” If something seems out of the ordinary, it’s worth investigating.

7. Develop a Comprehensive Incident Response Plan

Having a well-documented incident response plan allows you to respond swiftly and effectively to cyber incidents. The plan should outline the steps to take when a security breach occurs, including how to contain the breach, communicate with stakeholders, manage employee response, and restore operations.

8. Work With Cybersecurity Professionals

For many businesses, especially small to medium-sized enterprises, managing cybersecurity needs internally can be challenging. Partnering with cybersecurity experts or hiring experienced professionals can provide the expertise needed to ensure your defenses are as robust as possible. This doesn’t have to be as expensive as it sounds. Your CPA can help advise you about how much you may be able to afford for cybersecurity help. 

These are all steps that you need to take beforehand. You don’t want to be in a position where you’re kicking yourself and wishing you had taken just the bare minimum steps to protect your business from hackers. By implementing these cybersecurity best practices ahead of time, you can significantly mitigate the risk of cyberattacks. Remember, a proactive approach to cybersecurity is not just about defending against potential threats but also about safeguarding your business's future.

by Kate Supino