Tips for implementing secure business practices

2020 and 2021 have been challenging for businesses as they have struggled to cope with the pandemic-induced economic situation. There’s been a 400% jump in the number of cybersecurity attacks to add to their strain. It has made securing remote work environments even more critical.

Embroker reports that the costs incurred by companies due to cybercrime shall rise to a whopping $10.5 trillion by 2025 from the $3 trillion recorded in 2015. Then there are the risks of physical thefts of devices storing sensitive information and official records.

There is no denying that businesses have never approached a more hostile digital environment. From phishing scams to vulnerabilities opening the paths for criminals, there are many ways for a company to encounter threats.

If not protected adequately, businesses can suffer significant losses. And in some cases, it is not about the prevention but the mitigation of an attack. Let’s learn how to ensure that businesses ventures can be well-tuned to face the current digital threat landscape.

Tighten your physical security practices

All offices witness a rise in the delivery of valuable packages during the holidays. That makes them an enticing target for criminals. Remind your employees to plan for collecting their packages safely.

They must lock their cabinets and lockers. They should always be watchful about the devices they use, such as their laptops or smartphones, especially at public spaces like coffee shops where nefarious entities may observe them.

Limit the privileges of temporary workers

Many businesses hire temporary workers to cope with a rise in demand for their products or services during the holidays. Criminal organizations are always on the lookout to exploit this situation and take advantage of the fact that temporary employees are often unaware of the organization’s security practices and policies.

Companies would do wise to limit the access temporary employees have to only the information they need keeping sensitive information out of bounds.

Arrange automated remote backup and data recovery

You risk losing confidential information and essential business data after a security breach. A server crash or other technical calamities may also seriously damage your business.

Such disasters can be prevented if a business invests in a data recovery mechanism and automated remote backup. These ensure that all data can be recovered from a reliable source where it has been stored. It’s a very effective strategy to counter ransomware attacks.

Put strong safeguards in place for wire transfers

Wire transfers have caused losses running into billions. A favorite tactic among cybercriminals is emailing. An email is sent out ostensibly by the CEO or the CFO of an organization asking for immediate transfer of large sums of money so a “secret deal” can be struck.

There have been occasions when companies have fallen into the trap of these frauds as proper procedures haven’t been in place. There should be a protocol in place where wired transfers scams are introduced to employees during proper cybersecurity training. Furthermore, certain procedures should require authentication by well-informed executives.

Keep an eye on internet-connected devices

The risk of cybercrime has risen due to the booming use of the Internet of Things (IoT). Strict security guidelines should be put in place to monitor the use of such devices. They should be better secured with timely software updates and the use of solid passwords challenging to breach.

Employees should be particular about updating often overlooked devices, like smart TVs. Hackers can remotely access these for transferring malware to devices connected to them.

Use role-based access control (RBAC)

Many devices are connected online. That makes them vulnerable to being breached by hackers and other malicious elements. Therefore, you should safeguard your critical business data so you can protect yourself from digital file breaches.

To reduce the risks of such breaches, businesses must ensure that only the essential employees can access critical business data and files. The RBAC software is a handy tool that restricts sensitive and vital data to only authorized employees.

Use a Virtual Private Network (VPN)

With companies being forced to turn to remote working due to the pandemic, employees work from home. Moreover, work from home is becoming the new normal, and employees are unwilling to let it go. It means that the business needs to adapt and prepare its workforce to work from home safely.

Appropriate programs and tools are the best ways to ensure safe remote work. For instance, a VPN creates private tunnels with its servers to transfer data between the device and the internet.

That way, it’s ensured that no third party can snoop on the data. A Virtual Private Network also hides the IP address of the device, guaranteeing that web entities cannot pinpoint their locations. So, encourage employees to use a VPN to reassure safe data exchange and prevent snooping on all networks, be it home or local co-working space.

Stay alert for the fake candidate scams

The current employee screening processes have gone fully digital. From finding candidates to interviewing them, everything happens online. While this is highly convenient, it has opened doors for a relatively new scam.

As reported, employers have encountered situations when hired candidates are not showing up for their first day. Typically, their appearance, voice, and personality might differ, and they might have little idea of things discussed during the interview. Thus, the hiring teams should be cautious when finding new candidates as they might be tricked into hiring people with little to no expertise.

Conclusion

To better protect your business from physical and online threats, you must learn how they work. Conscious employees are an asset in facing these threats.

Automated backup helps retrieve data during crashes and breaches. You should take steps to enhance physical security by locking places storing sensitive material. Refrain from letting temporary employees enjoy certain privileges.

Strong passwords are the primary form of online security. Make sure that IoT devices are regularly updated. Installing RBAC helps restrict access to sensitive business data to only a few. A VPN allows employees to exchange data safely regardless of their network settings. Our tips enable secure your business in an environment of increased threats.