Regardless of their size, businesses rely heavily on technology. Although your network and computer-related tools are essential to function, they’re also a potential liability because they can offer cybercriminals access to your company. To protect against this complex and ever-evolving threat, businesses must deploy a comprehensive cybersecurity program.

Your arsenal

You should already have a cybersecurity software package to protect technology assets. But to provide the best protection from hackers and other fraud perpetrators, arm your business with these seven additional weapons:

  1. Strong passwords. Given a choice, most computer users select passwords that are easy to remember and input. But cybercriminals use password-cracking software that can guess simple passwords in almost no time.

So, require all employees to choose complex passwords that combine upper- and lowercase letters, numbers and special characters. Multifactor authentication adds an authorization layer that makes hacking harder. And consider mandating the use of a password manager. This tool enables users to store complicated passwords and populate login credentials when they access password-protected networks, sites and files.

  1. Encrypted devices. Employees’ mobile phones and other devices can hold vast amounts of data. Encrypting every device involves software that converts data into a coded format. Because only the correct decryption key can decode and make data readable, encrypted devices are generally secure, even if they’re stolen.
  2. Up-to-date software. Cyber threats evolve rapidly, and many attacks exploit known security weaknesses of popular software solutions. So in addition to keeping your network security current, ensure that employees install the latest patches as soon as they’re prompted to do so.
  3. Secure router. Routers provide enticing and, unfortunately, often easy entry points for hackers. Some companies forget to change their router’s default login. Don’t make this mistake! When putting in place a new router, change your login credentials, update the router’s firmware, enable encryption and create a guest network for visitors.
  4. Network monitoring tools. These are designed to uncover unusual activity or possible security breaches before an attacker can do too much damage. Logs and associated alerts can help your organization respond to threats quickly.
  5. Well-trained employees. Every worker needs to prioritize cybersecurity. Make employees aware of the threats facing your organization and the tools you’ve made available to mitigate them. This starts with cybersecurity training for new employees and updates annually or whenever an update is needed (for example, following an attempted breach).
  6. Test your defenses regularly. Even the most sophisticated cybercriminal programs can degrade over time. To ensure your defenses remain effective, consider engaging a third- party cybersecurity consultant to test them. This professional can provide you with a detailed report outlining your program’s strengths and weaknesses and make recommendations for improvements.
Evolution and sustained investment

Establishing a multifaceted security program can significantly reduce the potential for a cyberattack. Just keep in mind that it also requires evolution and sustained investment. Regularly review and update your security program to incorporate the most recent intelligence and best practices.

 

____________________________________

We highly recommend you confer with your Miller Kaplan advisor to understand your specific situation and how this may impact you.