How Can I Protect Myself & My Business from Cybersecurity Issues? 

If you own or manage a business, one crucial issue you need to stay up-to-date on is cybersecurity. Internet-connected systems are an integral part of most modern businesses. Web-based programs allow businesses to attract new customers, manage inventory, store client information, and much more. However, these systems can also be vulnerable to unauthorized use or malicious attacks. The FBI estimates that cybercrime cost small businesses nearly $3 billion in the year 2020 alone.

Protecting Your Business from Phishing Schemes

Something as simple as opening a seemingly innocent email attachment can expose your business to potentially catastrophic cybersecurity issues. One way that hackers infiltrate businesses is by tricking you into downloading ransomware or other malware onto your computer or smartphone. The malware encrypts the business’s files, making them inaccessible to the business. The attacker then demands a ransom in exchange for the files. This process is called “phishing,” and it is strikingly common. To protect your business from phishing or malware attacks:

• Frequently back up your data on a device that is not connected to the network
• Keep security software up to date
• Teach employees never to click on a suspicious link or download a file from an unknown source
• Use email security gateways and other security systems
• Always use strong, unique passwords for cloud-based services
• Consider obtaining cyber liability insurance

Keeping Client and Customer Information Safe

Another major threat facing small and medium-sized businesses is the theft of sensitive data. When a hacker gains access to your business’s files, employee and customer data may be at risk. Mismanagement of data and insufficient security can lead to disastrous data breaches that decrease your customers’ trust and irreparably harm your business’s standing.

Keep sensitive data safe by:

• Keeping antivirus software updated with the latest patches
• Encrypting confidential data
• Only storing the customer data you actually need to store
• Regularly testing your websites and programs for security vulnerabilities
• Using multifactor authentication

Call Us for Help Today

If you are a business owner or business leader, do not neglect cybersecurity. Doing so can lead to irreparable harm to your reputation and your bottom line. To learn more about cybersecurity issues faced by small and medium-sized businesses, check out the videos on Cybersecurity and Insurance and Legal Implications of Cybersecurity on our YouTube Channel.

For help with an extensive range of business needs, contact a Naperville business law attorney at the Gierach Law Firm. Call 630-756-1160 for a confidential consultation.

Sources:

U.S. Small Business Administration

Federal Communications Commission