Guest post by Lindsey Weiss of Outbounding.com
According to Cybercrime Magazine, cyber criminals could wreak havoc on the U.S. economy to the tune of more than $10 trillion by 2025. When it comes to cyber security, all businesses need to have adequate protections in place, but it’s especially important for aspiring entrepreneurs and business owners who manage proprietary and/or financial information. Not only is protecting your company critical, protecting your data and the private information of your clients and customers is vital to successful and responsible operations.
This article, and others like it, can be found in the blog of Chickadee Web Design.
Types of Threats
Cyber security breaches can result in a number of outcomes, ranging from minor inconvenience in the form of temporary shutdowns, all the way to full-scale ransomware infiltration that threatens to delete and/or steal critical or valuable information. There may be spoofing and phishing scams in which criminals attempt to steal information, viruses that can damage your operational systems, and there’s even the potential of internal threats in the form of employee theft. This is one reason why it’s wise to continually back up your data and have outside support, though if your business grows, it may be worth having an IT or cyber security professional on staff.
Preventative Measures
Prevention is the best strategy when it comes to avoiding the potential for cyber attacks. According to Forbes, understanding risks is key, as are regular security audits. In addition to having protective software in place and regularly backing up your data, it’s well worth the investment to utilize a cyber security professional to test your system and look for any weaknesses that need to be addressed. Not only can a cyber security pro ensure you are well protected, but they can also help train your staff on best practices around protection from hackers. This might include utilizing a regularly changing password protection process, and having protocols in place for how data and customer information is handled, stored, and monitored.
Outcomes of Attacks
If your system gets hacked, there are a number of negative outcomes. In addition to slowing or even shutting down your operations, if your data or financial information from your customers is stolen, it could result in a cascade of everything from identity theft to loss of intellectual property and even financial resources. According to Secure Link, it can also result in diminishing your reputation or standing in your field, which can make it difficult to attract customers, collaborate, or even expand your business in the future. Preparedness paired with a plan of post-hack action can position you for faster recovery.
You’ve Been Hacked. Now What?
The U.S. Federal Bureau of Investigation operates a cyber security unit that you can contact if you’re the victim of a cybercrime. Your rebound plan should also include a data recovery strategy that identifies which applications you need to recover first. Cyber threat action should be part of your overall corporate crisis planning strategy that identifies individuals that need to be involved in recovery efforts, communication, and rebound. In addition to assistance from the FBI, you may be able to utilize the cyber security pros that installed your system to aid in this clean-up effort.
Recovering from cybercrime includes being transparent with your customers, communicating what you’re doing to resolve the situation, as well as outlining how you will ensure there is no repeat of the circumstances that led to the attack in the first place. Cybercriminals are continually evolving their methodologies, which means you have to stay on constant alert to protect your systems.
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