Top Three Ways You Can Protect Your Business from Cybercriminals

It seems that it is almost impossible to go about our day-to-day lives without technology. We walk around with our phones and rely on computers to complete work and personal tasks. This realization has given cyber criminals many openings to attack. Criminals are interested in your personal information and the information they can get from your business. It’s the reason many business owners are putting more emphasis on cybersecurity training for their employees.

What Is Cybersecurity?

Cybersecurity is the act of setting up systems to protect sensitive information from being copied, stolen, or misused. According to reports, cybercriminals can attack and gain access to sensitive information from 93 percent of companies. In 2021, cyberattacks became more common. The number of attacks rose by 15% compared to the number of attacks in 2020. Only half of the small business owners in the U.S. report that they have a plan to combat cybercriminals. About 43% of businesses feel they have enough money to deal with a cyberattack if one were to occur.

What Are The Most Common Cyber Crimes?

There are a few ways that cybercriminals may choose to attack your business. Malware and phishing are two of the most common methods. 

Malware – software designed to disrupt, damage, or gain unauthorized access to a computer system 

Phishing – sending emails purporting to be from a reputable company to get a person to reveal their personal information, such as passwords or credit card numbers.

There is another method known as ransomware. It uses malware to set up blocks that prevent a business from accessing the data needed to operate. In this case, the cybercriminals will demand money from the business. In return, the business is promised to be able to regain access to its information.

Another form of attack is called Denial of service or DoS. In this case, the target site is overwhelmed with fraudulent service requests. This forces the business to deny all requests including those from actual customers because the servers become overloaded.

What Does a Cyber Attack Mean for Your Business?

  1. Money – Dealing with a cybercrime often costs money to fix. If the criminals aren’t demanding money to rid your servers of malware, you may have to pay someone to restore systems and set up firewalls. This can be quite costly, especially for small business owners. While you aren’t able to have access to your system, your business is more than likely losing out on money as well. Some companies have had to spend money on lawyer fees after customers submitted lawsuits in response to a data breach from cybercriminals.
  1. Reputation – Some businesses have had to hire public relations experts to help regain their public image after dealing with issues like this. Some customers may not be too keen on dealing with a business that they don’t feel will keep their information protected. Restoring the public’s faith in your business doesn’t happen overnight. It may take months or even years to rid your business of a stain like this. 
  1. Stolen Information – When cybercriminals attack, they can gain access to your customer’s personal information and your business information. This could include top secret information that you wouldn’t want your competitors or the public to know.

Tips for Your Employees

Here are some things you can let your employee know about to protect your business from cybercriminals.

  1. Install new, up-to-date software – This helps make sure all your devices have the latest security software functions. Cybercriminals are always looking for new ways to infiltrate your systems. Keeping up-to-date software will ensure you have the best protection to keep hackers away.
  1. Use a VPN – VPN stands for the virtual private network. It’s a great tool for businesses to have, especially if you have employees that work offsite or work from home. VPNs are designed to create walls around sensitive information so that only people that are supposed to have access to that information will have it.
  1. Creating a security plan – Take some time to develop a training plan for all employees. Make sure that your workers are aware of cybercriminal tactics. This can be a big help. When your employees know more about this they may be less likely to fall victim to phishing or malware scams.

Alltrust Insurance: Let Us Protect Your Business

Reports show that 82% of chief information officers believe their software supply chains are susceptible to data breaches. A cyber attack could mean the end of your business. That’s why we want to make sure that our clients are well aware of the threats they could face. Our team at Alltrust Insurance enjoys taking the time to ensure our customers are protected. Learn more about our team and how we can help you with your business needs by clicking here.

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