Businesses increasingly rely on computer networks and digital information to conduct their daily operations. Companies store critical corporate and customer data on their computer network to facilitate business transactions. This practice has made businesses a perfect target for cybercriminals, with digital information theft overtaking physical theft as the most common form of fraud. Without a reliable cybersecurity management strategy, your business could become the next victim of a cybercrime.
If you believe ironclad cybersecurity measures are just for giant business corporations, think again. Small and medium-sized businesses (SMBs) account for 43% of all cyberattack targets. While cyberattacks inflict considerable financial damage to all companies, the crime can be especially devastating to small businesses. Here are five cybersecurity best practices you should implement now to protect your business and customers from cybercriminals and data theft.
Back Up Your Data Regularly
All businesses need to incorporate a strict routine for regular data backups in their cybersecurity management strategy. Data backups are a process in which you make copies of all critical data on your system and store them in a secure location to use for data recovery in the future. If you experience data loss or are denied access to your data due to a cyberattack, you can use your latest data backup to restore all your important files and information.
There are two methods to back up your sensitive data: You can back up your data to physical drives, such as USB sticks and SSD/HDD drives, or cloud storage software. Check your backups regularly to make sure that you have the latest copies of your data. It is ideal to back up your data daily to minimize the risk of data loss in case of a cyberattack. Data backups are the simplest and most important practice you should include in your cybersecurity management plan.
Use Multifactor Authentication
Multifactor authentication (MFA) is a sophisticated procedure to protect your website from hackers or other unauthorized parties. The procedure uses more than one authentication method to verify the identity of the user. After signing in to the system, the user is asked to enter other information that was sent to their cell phone or email. Without access to the extra verification codes, the user can’t enter your system.
Adding MFA to your cybersecurity management strategy will add an extra layer of protection and security to your network system. The extra verification demands, which require the user’s email password, cell phone number, and biometric data, will make it extremely difficult for hackers to impersonate senior-level employees and executives to launch an attack. MFA is a protective cybersecurity measure that secures your network from unauthorized access.
Educate and Train Your Staff
A simple mistake by an employee, such as falling for an email phishing scheme or unknowingly downloading malware, could devastate your business. Educating and training your employees on the latest network security best practices is among the most important cybersecurity management strategies you should adopt. Most companies don’t educate and train their staff sufficiently on identifying potential network security threats, resulting in mistakes that can cost the company dearly.
Your business must hold regular seminars and workshops to educate and train your staff on the latest cybersecurity measures to protect your company and customers from cyberattacks. To hold your employees accountable for any shortcomings, make them sign a document specifying that they have been educated on the company’s network security policy and will be penalized if they don’t comply or violate the company’s cybersecurity protocols.
Implement a Safe Password Policy
Many companies use a single, easy-to-guess password for multiple accounts and platforms to avoid the hassle of dealing with multiple login details. If a hacker obtains your password, they will gain access to all your other accounts and platforms, enabling them to wreak havoc on your network security. The 2020 Verizon Data Breach Investigation Report found that 80% of all hacking incidents are due to weak or stolen passwords.
To reduce the risk of a network security breach at your ecommerce business, you must include a strict password policy in your cybersecurity management plan. A strong password policy includes changing your login details every 90 days, using diverse passwords for different accounts and platforms, and developing strong, hard-to-guess passwords. Use upper and lowercase letters, symbols and numbers, and 8 to 12 characters to develop a strong password. You can use password manager solutions to develop and store multiple passwords for various accounts and platforms at your business.
Use Anti-Malware Software
Cybercriminals are using ever more sophisticated methods to carry out their digital crimes. Sometimes, even the most informed and best-trained employees can be tricked into opening a phishing email or downloading a malicious program. To protect corporate and consumer data from malicious attacks, you must include reputable anti-malware software in your cybersecurity management strategy.
Anti-malware software is vital to keep your network secure from malicious attacks. This critical cybersecurity measure will identify and remove suspicious and dangerous content from your network before they cause a potential threat. Anti-malware software can neutralize computer viruses, worms, ransomware, and protect against DDoS and phishing attacks. You must install and set up these network security solutions on all your devices and networks to minimize the risk of a cyberattack. Make sure to update the software regularly to help you identify the latest network threats.
Protect Your Business With Stringent Cybersecurity Measures
With cyberattacks on the rise, all businesses, regardless of their size, must implement an ironclad cybersecurity management strategy to protect critical corporate and customer data from theft by cybercriminals. Use the cybersecurity best practices mentioned above to enhance your network security and protect your business from data theft.
If you need assistance with developing an effective cybersecurity management plan for your ecommerce business, we can help. Contact us at (310) 905-8646 to consult with our award-winning team of digital marketing specialists to seek advice on the latest and best cybersecurity practices to protect your online business.