In today’s digital age, protecting your business against cyber threats isn’t just good practice; it’s essential. Cybersecurity Awareness Month 2024 has given us an opportunity to focus on critical areas that every business should prioritise. Here’s a breakdown of the key insights we’ve shared this month, to help business owners and managers take immediate, practical steps.
Top cyberthreats businesses face
Cyberthreats are constantly evolving making traditional defences inadequate. Here are the most pressing risks and steps you can take to protect your business:
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Phishing attacks
Phishing remains a widespread threat, with attackers posing as trusted sources to steal sensitive information, usually through deceptive emails.
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Business Email Compromise (BEC)
Criminals use BEC attacks to access sensitive data or redirect payments by impersonating suppliers or executives. Small businesses are especially vulnerable due to limited email security.
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Malware and ransomware
Malware can disrupt operations and financial stability, while ransomware locks your data, demanding payment to release it. Both can cause severe business interruptions.
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Weak passwords and credential theft
Using weak or repeated passwords makes it easier for hackers to compromise multiple systems once they breach one.
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AI-enabled cyberattacks
Artificial intelligence (AI) has become a double-edged sword in cybersecurity. While it can improve defences, AI can also analyse a target's digital behaviour to create personalised phishing attacks or predict passwords.
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Social engineering and scams
Cybercriminals use emails, phone calls, and social media to impersonate familiar entities and trick employees into sharing data or transferring funds, often through urgent-sounding messages.
Practical steps to protect your business:
Now that we know what threats to look out for, let’s explore practical steps your business can take to strengthen its defences:
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Turn on Multi-Factor Authentication (MFA)
Adding MFA to your accounts provides an extra layer of security, especially for email and financial systems.
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Use strong passwords and a password manager
Unique, complex passwords or passphrases reduce vulnerability, and password managers can safely store and manage them for the team. (DM us for a list of best password managers)
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Regularly update software
Update systems automatically to prevent criminals from exploiting outdated software vulnerabilities.
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Back up data regularly
Regular, isolated backups allow data recovery without paying a ransom in case of an attack.
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Train employees regularly
Educate staff on identifying phishing attempts, the importance of strong passwords, and security policies.
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Conduct cybersecurity audits and enforce access controls
: Educate staff on identifying phishing attempts, the importance of strong passwords, and security policies.
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Secure your network and devices
Use firewalls and limit network access to necessary users. VPNs (Virtual Private Network) and secure configurations protect data for remote and external server access.
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Establish an Incident Response plan
A response plan minimizes downtime during a cyber incident, guiding the team through containment and investigation.
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Use AI Responsibly
Set clear rules on what information employees can share with AI tools. Avoid sharing sensitive data and encrypt stored data when possible.
And that’s a wrap for Cybersecurity Awareness Month 2024! Protecting your business takes continual effort and is not just about implementing cybersecurity technology but about cultivating a culture of cybersecurity awareness and preparedness amongst your team.
TL; DR:
Top threats to be wary of:
- Phishing attacks
- Business Email Compromise (BEC)
- Malware and ransomware
- Weak passwords and credential theft
- AI-enabled cyberattacks
- Social engineering and scams
Actions you can take to protect your business:
- Turn on Multi-Factor Authentication (MFA)
- Use strong passwords and a password manager
- Regularly update software
- Back up data regularly
- Train employees regularly
- Conduct cybersecurity audits and enforce access controls
- Secure your network and devices
- Establish an Incident Response plan
- Use AI Responsibly
Speak to our Symsafe cybersecurity experts for help with implementing any of these strategies or to arrange a cybersecurity audit for your business. #StaySafeWithSymsafe
email: sales@symsafe.com.au | call: 1300 002 001 (Au)