Why Cyber Security Is A
Necessity For Your Business

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Cybercrime for Small and Medium Businesses

Cyber attacks on all businesses, but particularly small to medium sized businesses, are becoming more frequent, targeted, and complex. According to Accenture’s Cost of Cybercrime Study.

Cyber Security for Businesses

January 2021 - September 2021

As a business entity operating remotely, you might run into trouble against cyber attacks. Fortunately, you can take effective steps to protect your data.

It is crucial for the security team to take the initial steps to establish a strong security framework within an organisation against cyber security attacks. Businesses should test their existing capabilities and have a contingency plan in case the worst happens. To avoid damaging cyber attacks, it is vital to monitor abnormal behaviours and troubleshoot them accordingly. Prepare for the different types of threats through a thorough analysis of the potential cyber risks. A subsequent amendment to online security policy will help communicate this to your staff effectively and enforce the required change.

Have You Read The Latest Cyber Threat Report?

Why Cyber Security is Imperative for Your Business

Protection from all types of data theft and damage underpins the overall health of your business. Cyber security covers sensitive data, Personally Identifiable Information (PII), Protected Health Information (PHI), personal information, intellectual property, and other information systems used by governmental and corporate institutions.    

Organisations of all sizes, in almost every industry, have been hacked. Based on the statistics, the larger the business, the more vulnerable it is to a cyber attack. Cyber security businesses are becoming more important by the day for governments around the world. By advising government and industry on how to establish strict data security measures, cyber security is now an integral player in the fight against data breaches as the world continues to work remotely.  They are also crucial in restoring business confidence in carrying out remote and online operations. 

Cyber Security Solutions for SMEs

Small to Medium Enterprises (SMEs) may think they’re not big enough to need a full-scale security solution however, hackers rarely discriminate. Cyber attacks haven’t just become more common, they’ve also become more sophisticated. Hackers commonly use the identity of one company to access the data of another. As a result, SMEs can lose intellectual property, research, and sensitive customer data without a safeguard or a commitment to prudent cyber security measures.

Benefits of Cyber Security for SMEs

Inspires Consumer Confidence
As long as you can convince your customers that their personal information will not be compromised, you can inspire their trust.

Business Protection
You can protect your business with cyber security solutions, making sure that your employees are not at risk from potential threats such as malware and ransomware.

Increased Productivity
When viruses attack, computers slow to a crawl, making work virtually impossible. Cyber security eliminates this possibility and maximises your business' potential output.

Protection for Your Customers
You will also protect your customers, who could also be vulnerable to a cyber breach by proxy, if your business is secure against cyber threats.

Stops Your Website
From Going Down

An attack on your website could spell disaster for you and your stakeholders. If your system is infected, your website could be forced to close, which would mean lost revenue as a result of lost transactions.

Cyber Security Strategies for SMEs

Security Culture – Your organisation should cultivate a security-conscious culture. You should place cyber security at the top of your priority list, since a single breach could cost your company millions of dollars.

Network Security – Your network security strategy keeps your computer network, i.e. the devices and data under your network administrator’s control, from being unauthorised and misused.

VPNs and Firewalls – Invest in security products like Virtual Private Networks (VPNs) and firewalls. Despite their limitations, these defence lines can be extremely effective when they are properly implemented.

Data Backups – Make sure your business data is backed up multiple times. In case of a ransomware attack, natural disaster, or other event that prevents you from accessing your data, you’ll have a backup plan.

Segmented and Limited Access – Segmenting and limiting employee access to company systems and data makes sense. Although it is common to assume that all cyber attacks originate from malicious external sources, a significant percentage of threats originate from within your organisation.

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