How to Protect Your Business from Cyber-Security Threats

By October 20, 2020Uncategorized

Using the internet for business does have advantages but it can also expose you to scams and digital security threats that can compromise your financial wellbeing.

To help protect your business from cyber security threats, try these helpful tips:

  1. Back-up all important data

All your important business data – including your business website – must be backed-up securely.

This can help you easily recover any information that might be lost due to a cyber security breach.

Luckily, backing up data doesn’t need to cost a fortune and is relatively easy to do.

For better safety, use multiple back-up methods to help ensure the safety of your important files.

A secure back-up system can include:

  • daily back-ups to a portable device and/or cloud storage
  • weekly server back-ups
  • quarterly server back-ups
  • annual server back-ups

Don’t take your back-ups for granted. By testing your system regularly, you enjoy the peace of mind from knowing your information is actually being backed up.

By backing-up your data to an external drive or portable device, such as a USB, you can then store portable devices off-site – important protection against fire, flood, or theft.

Remember: don’t leave back-up devices connected to the computer as they can become infected via a cyber attack.

Alternatively, back-up data by utilising a cloud storage solution.

  1. Secure your devices and network

Updating software is important. Updates may contain security upgrades to protect against recent viruses and attacks. Most updates enable you to schedule updates outside of business hours.

Updates also fix serious security flaws – a powerful reason to not ignore update reminders.

Install security software

Make sure this software includes anti-virus, anti-spyware and anti-spam filters to prevent malware or viruses infecting computers, laptops and mobile devices.

Set up a firewall

A firewall is a piece of software or hardware that sits between your computer and the internet – something that acts as a gate-keeper between your device and the wider digital world.  Make sure you install the firewall on all portable business devices.

Turn on your spam filters

Use spam filters reduces the amount of spam your business receives – something that saves times and reduces phishing risks.

Never reply or attempt to unsubscribe to spam emails.

Instead, simply delete them without opening them.

Applying a spam filter reduces the risk of you or your employees opening a spam email accidentally.

  1. Encrypt important information

Encryption converts your data into a secret code before it is sent over the internet.

Quality encryption reduces the risk of attack, theft and tampering with sensitive data.

  1. Manage passwords

Use strong passwords, containing a mix of characters, to protect access to all devices that hold critical business information.

By having simple passwords, such as numbers in a row, leaves you open to hacking.

Don’t use the same password for everything, as it risks all your data.

By using a password manager application you can create unique passwords and store them securely.

  1. Monitor computer equipment usage

Keeping a record of the computer equipment and usage within your business makes sense.

Remind all team members to be careful about:

  • storage of their own devices
  • using USB sticks or portable hard drives that travel from home to work and have the potential to cross-infect.

Always remove any software or equipment that you no longer need, but check thoroughly for sensitive information before disposing.

Unauthorised access to systems by past employees is a common security issue for business owners. Ensure past employees have all access to your systems removed.

  1. Put policies in place to guide your staff

Implementing a cyber security policy helps your staff understand their responsibilities around:

  • data
  • computers and devices
  • emails
  • internet sites

Take some time to research how to create a cyber security policy and ensure every one working within your team understands it. 

  1. Protect yourself

The cost of dealing with a cyber attack on your business can be huge. Cyber insurance can protect your business to cover the costs of repairing databases, strengthening security or replacing laptops. As with any insurance policy, it’s important to understand the fine-print to ensure you are fully-covered in the way you need to be.

Protect Your Personal Finances by Being Smart Online

Even if you are not in big business, cyber security is something you should take very seriously and it’s something that you should also educate your family to understand.

Undertaking any financial transactions in the digital world comes with risks but these risks can be mitigated with education and common-sense.

For help with mortgages and refinancing your home or property investment, contact our mortgage broking professionals at Lending Specialists today.

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