Business

How to Protect Your Business from Cyber Risks

 

As we move our business and its operations into the digital space, we need to know the ins and outs of what this means and the ways in which it affects our business.  There are some great advantages to managing your business and administration online and there are also some great risks.  Digital does bring a great amount of efficiency, but theft and crime still exist in the digital era but the way in which crime is conducted has changed and needs to be understood.  Knowing how these risks are managed and mitigated against is essential to Risk proofing your intellectual property and protecting your business.  These are some ways that you need to make sure your business is safe, and you are protected against cyber risks.

Insurances must still be in place

Just as you would insure your business against traditional crime, theft, and loss, so too do you need to have cyber security insurance to effectively serve the same purpose.  What goes missing might not be as tangible as laptops and computers, but the impact it has on your business is the same and your data or intellectual property can be stolen.  Having insurance won’t bring it back, but it could help by covering the cost of the losses incurred.

Keep backups and encryptions

It is imperative that you duplicate everything and have multiple back-ups.  These back-ups need to be encrypted and stored in multiple different formats and places.  Back up to an external portable hard drive and then keep those copies off-site on another location. The purpose of this is in case you have something happen physically to your office where your computers and servers are destroyed by natural disasters or fires or theft.  Storing the data in ‘the cloud is something that has become a given, but again, don’t rely solely on that in case you have a virus that affects the source and leaves all your devices with damaged data.

Have security software installed

As you would have a security system installed in your office premises, you want to have the same concept applied to ensure cybersecurity.  By hiring a security company to manage your online security risks, they can ensure that you have the right software and that it is kept regularly up to date.  If you need very high-security measures, they will implement practices that ensure that the utmost procedures are followed to ensure top security.

Data management

While you may not recognise data management as a form of cybersecurity, it is part of ensuring that your digital business operations are done in such a way that you don’t ‘lose’ information due to lack of effective and stringent filing practices.  It is also becoming of utmost importance to protect the individual’s personal information from being leaked otherwise there could be severe legal consequences.  You want to make sure your business handles this properly and doesn’t make ignorant mistakes when handling the information that passes through the business.