Cyber Security in Small Business

 

After the numerous security breaches that happened to large organizations during the past few months, small businesses are encouraged to improve their security. Many entrepreneurs are not aware that small businesses are also exposed to the same level of risk just like large businesses. During this situation, the hacker will obtain sensitive information about the users of an app. Based on the latest report, at least 50% experienced breaches on cyber security in small business in the past 12 months.

 

Why do Some Hackers Prefer Small Businesses?

 

Security breaches on large organizations such as Home Depot and Target will surely land on the headline. However, the more significant percentage of security attacks on small companies should not be ignored. The primary reason why most hackers prefer to target them is they have larger digital assets on a particular customer compared to large companies. Another important factor why hackers prefer them is their low level of security. Based on our survey, at least 82% of the small business owners believe that they are not the target of these attacks, which means they do not invest in their digital security.

 

Kinds of Attacks on Cyber Security in Small Business

 

The usual goal of cyber attacks is to steal and take advantage of sensitive information and data. They can steal the credential of the customer or the credit card information. The techniques that the hackers can use to launch an attack will vary, and it is continuously evolving as the industry also introduces the latest security mechanism. Here are some of the most common attacks.

 

·         Advanced Persistent Threats (APT) - This is a long-term cyber security attack that is being conducted in numerous phases to avoid being detected by the system.

 

·         DDoS- Distributed Denial of Service or popularly known as DDoS, will possibly occur when there is an elevated amount of requests on the server. The goal of this attack is to shut down the network system or website of the target.

 

·         Inside Attack- Your people can launch this using their administrative access. Some authorized personnel can misuse their authority and access the company's sensitive information. Former employees who leave the companies with a grudge may also be a threat.

 

·         Password Attack- There are different types of password attacks. The hacker may use brute force, wherein the hacker will guess the word. They can also use a dictionary attack where the hacker will use a combination of words found in the dictionary and key loggers to record the user's login credentials.

 

·         Phishing- This is the most common method used by cyber attackers. The hacker will deploy an authentic-looking duplicate website that aims to steal the sensitive information and credential of the user.

 

After being aware of the common cyber security threats, small businesses are encouraged to organize a comprehensive security solution to stay away from these attacks. Using antivirus can help you prevent malware, but for other attacks such as inside attack, you need to employ a company policy and increase your employee's awareness of the consequences of these threats.

 

Cyber Security Tips to Prevent Network Breaches and Hackings

 

In 2015, big companies such as Walmart and Amazon acknowledged the possibility that the password of their customers had been leaked. Even dating sites such as Ashley Madison were not spared from security breaches. Hacking may negatively impact your company's credibility, translating to financial losses and affecting your business stability. Based on the study, 41% of the executives have experienced security issues over the past few years. At least 37% of them have reported a decline in their financial standing. Your company should develop solid cyber security measures to prevent this from happening. These days, almost all companies are collecting sensitive information from their customers. This information are precious to those hackers and should be protected at all costs. Here are some ways to safeguard them.

 

Keeping Your Devices Protected

 

Perhaps your workers' device can expose you to the biggest security threats. They can be an entry point for malware. After malware infects a device, it can gradually move to the central network of your company. The hacking in the OPM, where information from 7% of the population was leaked, started with malware. Companies allowing their employees to use their devices are more prone to this risk. When your employees are at home, they can access the site or install apps plagued with malware. You need to protect your small business from this threat. Make sure that you will implement a strict policy regarding using devices. You may also use protection software as part of your cyber security measures.

 

Strict Authentication

 

Encrypting information is a powerful way to protect the customers' data against hackers. This is a perfect security practice. However, your workers can still access the data by using a password. Make sure that you implement two-step authentication. When your employee wants to access their account, your system should send a code or credential on their device that they can use to log in to their account.

 

Cloud Computing

 

Online accounts can now be accessed online through cloud software. Cloud Computing offers different benefits in terms of productivity and cost. However, it can also pose a threat to your cyber security. Most of the time, the data is stored in the cloud without any encryption, making it vulnerable once your service provider has been compromised. Ensure that the small business has specific guidelines before the employees will store information in cloud-based service.

 

Finally, you should also conduct user-awareness training to educate your employees about the threat of security breaches and your cyber security measures. The technology solutions that we have today are pretty useful. However, to ensure that you are protected against hacking and security breaches, you need to enlighten your employees about the policies and procedures of the company. They should be aware of the type of information they can provide to the public. These are essential to ensure that you have a solid policy on cyber security in small business.