As the world shifts to an increasingly digital marketplace, more and more businesses incorporate technology to make their systems more efficient and competitive. However, amidst this ever-growing reliance on SaaS tools and platforms comes the escalating risks in website security. The moment hackers can exploit a vulnerability in your computer system, they will be able to gain access to all your company’s or business’s information. And such data breaches can be quite costly. A 2021 report released by IBM Security estimates that losses from a typical data breach are around $4.24 million.
It can be especially devastating for SMEs, who may have fewer and more shallow pockets to draw from to contain and resolve these incidents. Although there have been many advances in cybersecurity programs and policies, they can be very expensive. Also, once the damage has been done to your computer system, in addition to the cost, the resolution can be quite difficult and, most likely, will take time.
Therefore, it is always better to educate your team about the indicators of compromise and about pre-emptive measures you can take to safeguard against malicious cyberattacks. Regardless of the size and scale of your operations, here are four tips your employees can do to avert or reduce security risks.
1. Create strong passwords
You may think that this would be too obvious a tip to be included in this list. However, you will be surprised to know that an estimated 81% of all data breaches come from password vulnerabilities.
When an employee’s password is compromised, the damage isn’t just on a personal level. Your entire company’s data and that of your partners and customers can be compromised.
To minimize password security risks, do your due diligence in creating strong—make that very strong— passwords. Use a minimum of 12 characters, and maximize the mix by using numbers, symbols, lower-case and upper-case letters. Avoid using personal information or information that makes sense.
Do not reuse passwords. Lastly, keep personal-use passwords different from those used for company purposes.
2. Be wary about software downloads
While you may probably have already downloaded antivirus programs on your employees’ computers, hackers have become more sophisticated. It is best to enforce a no-downloads policy unless the software to be downloaded has been screened by your I.T. Department. If there is any software that needs to be downloaded for better efficiency, establish downloading protocols. Have your employees acknowledge these policies in writing to keep downloading temptations at bay. A firewall can also keep your employees away from indiscriminate downloading.
Of course, it is best to get your employees on board by educating them about the dangers of downloading from vulnerable sites. Let them know that these security policies are not only intended to protect the company, but their job security as well.
3. Don’t use public Wi-Fi
Public Wi-Fis are so irresistible. They help sustain productivity even when you’re away from your desks and are at the mall or even the airport. And best of all, they’re free! Well, that last statement isn’t entirely true. While there are no upfront costs in availing yourself of public Wi-Fi services, these “free” offers may lead to security hacks that can run up to thousands, even millions of dollars in damages. Through public Wi-Fi, hackers can employ the “Man-in-the-Middle” tactic, where they position themselves between you and the public connection point. What happens is that, instead of you connecting to the public hotspot, you are actually directing all your information to the hacker. Public Wi-Fi is also typically unsecured. Hackers can, therefore, easily distribute all sorts of malware that can wreak havoc on your computer’s system.
If it is unavoidable to use a public Wi-Fi, such as in emergency situations, use a VPN or virtual private network. VPN data is strongly encrypted, which makes the hackers grow impatient and drop your case instead of going through tedious and lengthy decryption.
4. Watch out for phishing emails
A phishing email is a type of online scam where the perpetrator pretends to be a legitimate or reputable entity or person to be able to secure your information. At a glance, the email will appear to be genuine since the logos and formats are copied from the original. However, upon closer examination, you will notice that phishing emails usually have one or more of these suspicious features: bad grammar, spelling mistakes, odd or generic salutations, inconsistent email addresses and domain names, requests for information updating or login credentials, usage of a public domain (e.g., addresses that end with @gmail.com), email is written with a sense of urgency, etc. Simply DO NOT open these emails. If in doubt, always check first with your I.T. department or immediate manager.
So what should you do if you accidentally click on a phishing email? Immediately disconnect your device from the internet. Once disconnected, backup your files and call your I.T. department so they can change your credentials and alert your team about the fraudulent email.
Closing Thoughts
Prevention is always better than the cure. And the key to prevention is education and training. Well-informed and decidedly cooperative employees can be one of your company’s best weapons against online scams and cyber attacks. Share these four simple security tips with them and constantly be on the lookout for cybersecurity developments, and you should be as safe as a snowball in winter.