A cyberattack can cripple the financial condition of a business, be it a small or large company. The consequences of a cyberattack are enormous. In fact, companies that are unable to recover immediately after a cyberattack are likely to end up out of business.
The easiest and most effective way to mitigate cyberattacks is of course by implementing detection and security methods. Most companies only allocate a small portion of their IT budget to preventive network security measures. Meanwhile, the IT budget is mostly used for detection, mitigation, recovery, and repair activities.
While allocating funds to recover and repair damage from cyberattacks is important, you should also realize that investing in prevention strategies will significantly reduce the chances of a business falling victim to a cyberattack.
With data breaches on the rise, business leaders want to ensure that their companies are prepared for the impact of a data breach. Here are the steps that can be taken:
Eight easy, cost-effective steps to prevent cyberattacks and financial loss
Conduct a cybersecurity risk assessment audit
IT management needs to use a two-part approach to carry out proactive IT security protection. First, an audit needs to be conducted of current data security activities in relation to potential threats. Secondly, IT needs to develop a risk assessment plan. Such risk assessment measures should include preventive measures and policies to address vulnerabilities identified in the audit to protect company data.
Implement next-generation firewalls
The latest firewalls provide protection at the network gateway (on-premise or in the cloud) with a complete solution that includes web and application content filtering, virus blocking, intrusion prevention, and secure remote connectivity. Next-generation firewalls also include employee productivity enhancements such as application control and bandwidth shaping.
Implement end point protection
Companies and employees use a variety of devices to access the office network. Laptops, tablets, cell phones, and other IoT devices can be vulnerabilities. For this reason, implementing endpoint security across the network adds an additional layer to prevent cyberattacks. Limit web access to sites known to spread malware and control specific web filters to company devices to ensure device and network security.
Schedule network backups
Regular backups of databases and network configurations should be stored in a different location off the network. Backups are essential to mitigate data breaches, reduce the need to pay ransom demands, and limit network downtime for employees. Since the need is important, create a schedule and stick to it.
Provide VPN for hybrid and remote employees
Remote employees should use a VPN to access business-critical applications or data when logging into the network outside of the office. VPNs extend network security policies to remote devices, protecting them from intruders lurking on public WiFi or home networks.
Implement passwords hygiene
Ask employees to change passwords frequently, use strong password recommendations, and enable two-factor authentication where available. Such measures help keep credentials and critical business information secure.
Manage directory access policies
Protect critical company information by restricting access to certain files based on current employee status, department, and business title. For example, employees in marketing should not have access to the balance sheet of the finance department. This is because unauthorized departments having access can have serious implications. If one employee’s credentials are compromised, there is a risk of unauthorized access to every file on the network.
Provide continuous employee training
Cybercriminals will always look for and find new ways to infiltrate networks. Therefore, provide regular training to keep employees trained and up to date.
Provide briefings and training around:
- Company data responsibilities and compliance regulations
- Password and credential maintenance
- Personal email responsibilities, as well as providing identification information on evolving phishing tactics
- Corporate device policies with attention to VPN connectivity and safeguarding corporate devices from theft
Hypernet is ready to help your company take preventive measures to prevent cyber attacks. Please contact CS to get the latest package offer.
