Every business, regardless of its size, location, or sector of operations is at risk from a hidden threat. All around the world, cybercriminals are taking the time to create increasingly sophisticated pieces of malware and then unleashing them across the internet. 

Any business that has online operations (even simply having internet access and email usage) can be targeted by the malicious acts of cybercriminals. A successful cyberattack can cost organizations hundreds of thousands of dollars to recover from. Sophisticated attacks may result in the loss of sensitive data, damaged IT infrastructure, and often require significant amounts of time to repair, which can dramatically reduce productivity. In addition, a successful cyberattack that results in the loss of customer data or the inability to access online customer accounts has a reputational cost for the business. Customers want to be assured that their information is secure, and data breaches can have a damaging effect on the business brand and ongoing customer loyalty. 

In short, every business needs to take a range of meaningful steps to protect their organization from acts of cybercrime, as far as is reasonably possible. In this article, five key strategies will be explored that can improve a company’s resilience to the acts of cybercriminals. These strategies may be suitable for a diverse range of companies operating in many different sectors of business and commerce. 

Cybersecurity risk registers

In any medium- or large-sized company, there is likely to be a heavy reliance on different IT systems. Each team may use bespoke software to complete their ongoing tasks, and in many cases this software is cloud-based or requires the use of the internet to operate. In addition, almost all staff members will use company email systems to communicate with other team members and external stakeholders. All these systems may provide a route in which cybercriminals can launch attacks. From simple malicious emails that contain attachments which can infect a computer to more sophisticated attacks, any business with online functionality may be at risk. 

A key way to understand the myriad of risks that your company may be exposed to in the digital world is by creating a cybersecurity risk register. This document will list all the identified and potential risks that are posed to a company’s IT infrastructure. For example, they could include having old software systems that are no longer supported by the latest firmware updates (and therefore may be easier for cybercriminals to infiltrate) or API gateways that do not have sufficient protection or traffic monitoring. 

By creating a comprehensive register of cybersecurity risks (and ensuring that it is regularly updated to contain new and emerging risks) a company has a clear idea of the digital security dangers to which it is exposed. IT security staff can rank the risks by using a risk matrix which considers the likelihood and consequence of the perceived risk becoming a reality.

Develop your key IT staff with specialist training 

It is more important than ever for most firms with an online digital presence to have specialist IT staff who are knowledgeable in the many aspects of IT security and cybercrime. However, there is a need to ensure that this knowledge is developed on a continuous basis so that these staff members can stay abreast of developments in this field. 

The methods used by cybercriminals and the different forms of cyberattack change over time. New vulnerabilities may be identified and there is an ongoing race to keep cybersecurity protocols up to date to defend against new and emerging threats. Therefore, it is of paramount importance that key staff members have access to the latest training packages in this field. They should regularly attend information security analyst courses and then apply this new knowledge in the workplace. This knowledge can also be disseminated to other key workforce groups to ensure that many staff members benefit from the latest developments in this field. 

In short, having specialist IT staff who are aware of the latest techniques to identify and protect against cybercrime can be a key pillar of defense in this ongoing battle.

Core mandatory training packages

In addition to high-level training for IT specialists, companies should also roll out mandatory training packages to all their staff members. This can start as part of the onboarding process and then be consolidated with annual mandatory training. 

There should be a learning module specifically relating to IT security and acts of cybercrime. Staff can be taught the value of having secure passwords, and how to spot simple acts of phishing or malicious emails. In addition, there should be some form of basic assessment (such as quiz questions with multiple choice answers) after the course has been completed. This will ensure that staff retain the information and can apply it in their daily tasks. 

Put simply, a workforce that is educated on the basics of cybercrime is one that is vigilant and will not be as susceptible to similar attempts to access business systems.

Password management solutions

It is estimated that around 81% of all data breaches occur due to the use of weak passwords. Often, these can present an easy way into a company network and do not require high-level hacking skills to accomplish. 

It is of paramount importance that staff are directed to use strong passwords in all the login credentials. These should include a mix of upper- and lowercase characters, numbers, and symbols. However, companies may also wish to use password management solutions to be assured that strong passwords are always used. You can find out more about the best password management solutions for businesses by clicking here. 

VPNs when using unsecured networks

As a brief final point, it is recognized that many employees may occasionally need to use public Wi-Fi access when working from different locations in the course of their employment. It is important to understand that these access points are typically unsecured and thus pose an easy route for hackers to intercept data or gain access to hardware. Businesses should provide staff with a virtual private network (VPN) application in these circumstances. VPNs change the IP address of the person who is accessing unsecured Wi-Fi, making it extremely difficult to know their location. In addition, most VPN applications encrypt data from the host device, making it almost impossible to read the information should it be intercepted.

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