Latest figures have shown that cyber crime affected 3.72 million people in the UAE in 2017– costing the country almost AED4 billion. This includes educating them about risks associated with using unsecured networks to access work info and avoiding unsecured websites and sharing sensitive data on social media. If you want to properly protect your company from a cyber attack, then you first need to be aware of both the internal and external vulnerabilities your business may be exposed to. Attackers target the disclosed vulnerability during this window of time. Thus, it’s better to outline some physical security strategies before any untoward incident occurs. Use separate computers for business and home. 8 Ways Businesses Can Prevent Cyber Attacks According to a defence outlook report by Deloitte, the wealthier the nation, the more at risk a country is of cyber attack. 10 Ways Small Business Can Prevent Cyber Attacks. The gargantuan task of knowing how to prevent cybercrime often comes down to nullifying cyber security threats and figuring out how to prevent cyber attacks. Shutterstock, Founder and Chief Executive Officer of Lifecare. Sign up for the free newsletter! However, if your company has an online presence, stores customer and company data on digital devices and uses cloud-based software, a thorough cyber security strategy is essential. 4.) The first and foremost solution to prevent cyber attacks on companies is to have a secure and sophisticated hardware which are password protected and backed up by 2-way authentication. But it doesn't have to be. Businesses are vulnerable without employee education Highlighting the need for employee education on the types of daily actions that leave a business vulnerable to cyber attacks. To ensure your company is protected from cyber attacks, it is imperative that you define security protocolsfor every aspect of your business. A privacy breach leading to loss of data could spell doom for your firm. It … Full-disk encryption software is included in virtually all operating systems today and can encrypt all the data on a desktop or laptop computer when it’s at rest. Using protocols, such as creating temporary passwords for contractors or expediting the onboarding process for new hires, will also help to minimize scenarios in which password sharing is needed in the workplace. With an increasing amount of cyber-attacks that are designed to steal usernames and passwords (the gateway to data loss and business downtime), this webinar will help you understand just how Multi-Factor Authentication (MFA) can be used to stop those attacks in their tracks. You can delegate this responsibility for preventing cyberattacks to a Cyber Security Operations Center where trained professionals help and investigate threats and data breaches around the clock using state-of-the-art resources. Backup data- Sometimes no matter how hard you try, hackers get into your network and try to encrypt your data with ransomware. These protocols should be inherent within your business strategy. 2. The first and foremost solution to prevent cyber attacks on companies is to have a secure and sophisticated hardware which are password protected and backed up by 2-way authentication. As you can see, there are number of ways small businesses can fall victim to cyber attacks and fraud. It is therefore more impactful to teach staff how to use both their personal devices and work devices in a way that minimizes the risk of being hacked. To prevent cybercriminals from attacking your small business, implementing the following recommendations: One of the most effective ways to prevent cyber attacks is to ensure that multi-factor authentication has been enabled for all applications that access the internet in your organization. Email recipients typically need the same encryption capability in order to decrypt. Always entrust this information to a key figure in your IT department and ensure that (s)he is adequately trained on the safe and encrypted storage of this information. To prevent this, train your employees to make security their watchword. One reason for the increase in incidents is that end-user software like Cryptolocker has commoditized the malware industry, making it accessible to a wider variety of criminals and less-skilled hackers. A cyberattack can compromise data and other assets, put your customers and users at risk, and damage your reputation. Educate staff on the dangers of unsecured networks Banning employees from using their personal devices for work may seem like an obvious approach, but this strategy seldom works in the long term. These updates are made in response to the latest cyber threats and are therefore a key tool in the fight against cyber attacks. Social media security 2. The high cost of cyber attacks on small businesses. Also, it is better if you don’t overlook the effectiveness of protecting your physical storage disks. If you’re a business owner or manager using computer services, you need to secure the network with a VPN, install a firewall, and use solid passwords to prevent privacy breaches. )to copy files to or from any organization computers. But if your enterprise has a backup copy of the latest, then you or your company need not bow to the demands of the hackers. Tips for Preventing Cyber Attacks Know the Risks. As outlined in this article, the steps to achieving the peace of mind and financial security that such a strategy brings should involve the use of up-to-date data encryption, data back-up, and firewalls and anti-malware software. “The average cost associated with the cyber-attack, among those targeted, was $8,699.48.” In addition, nearly half of all small business owners surveyed claimed to have at one time been the victim of a cyber attack. While effective anti-malware tools catch and isolate software viruses when they strike, preventing these viruses from entering your database in the first place is vital. This can include: Weak passwords. Begin your cyber attack prevention strategy with the basics: protect all devices with a complicated password, share that password with the device user only and commit it to memory instead of writing it down in an easily accessible place. Having only a password login for employees is not enough. Use Multi-Factor Authentication. Today, only 58 percent of U.S. mid-size companies train employees on cybersecurity. Read up on articles online to keep yourself informed as technology develops, and consider investing in the kind of tools and resources listed above – spending a little bit of money to protect your business could really pay off. Increase employee awareness This is one of the most cost-effective methods of preventing a cyber attack. In reality, there are just five specific steps that all companies need to follow to effectively protect against cyber attacks: secure your hardware, encrypt and backup all your data, encourage a security-centered culture, use robust firewall and anti-malware software, and invest in cyber security insurance. Secure your hardwareWith so much attention given to acquiring the newest and most sophisticated types of cyber security software, safeguarding the security of company hardware is often overlooked but the loss or theft of devices is a real threat to be aware of. Don’t overlook safeguarding company hardware Data breaches commonly occur due to stolen equipment and so safeguarding your hardware is an easy strategy in improving your company protection from a cyber threat. And then how to verify if a network is secure (secure networks require a key/password to access them). And with cyber security threats changing at a rapid pace, always pay attention to update notifications and run them as soon as they become available. Install, use and regularly update antivirus and antispyware software on every computer used in your business. Avast says that IOT are vulnerable to Cyber Attacks, Ransomware news headlines trending on Google. And minimise the amount of time a computer sits unused and unlocked by setting all devices to automatically enter ‘sleep’ or ‘lock’ mode after five minutes of no use. Businesses need to ensure sufficient security training and education for staff remains a key focus, but where to begin? Though this will prevent the messages from incorporating any dangerous links, it also means that you won’t be able to receive links from legitimate senders. This will allow you to ensure that your corporation is covered at all times with the … IT support firms advise that you educate personnel on security best practices to safeguard your SMB's network. Cyber Attacks Key Elements that is essentials to be Protected. Use software in conjunction with education By using firewall and anti-malware software in conjunction with employee education you are well equipped to prevent –or at least deal with– attacks due to ransomware, which can enter computer systems through emails and other employee-related errors. Here are five tips to help you do just that: 1. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. By doing so, equipment that is stolen can quickly be located by the authorities. 2.) 5. ) A cyber insurance policy will take care of the costs associated with the attack and help you get your business back on its feet as quickly as possible. Always be wary of cybercriminals, work like you expect an attack. You should use a very strong password to prevent from cyber-attacks. Existing anti-virus tools are not very effective against ransomware, which changes almost as quickly as new anti-virus tools are developed. Train employees in cyber security principles. So, it is important to invest in software that has been specifically designed to deal with this challenge. Combine this with regularly backing up your data, such as on the cloud, and you’ll ensure that no critical data is lost in the event of an attack. 1. The US, Japan, Britain and South Korea have been identified as some of the biggest targets. So, start putting a security plan and implement in your business. Stay ahead by backing up data and storing it separately After encryption, backing up all data is another key way of protecting yourself from security breaches. Such breaches were more common in businesses in which staff members use their personal devices for work. The losses that can be incurred from data breaches are best mitigated by investing in cyber security insurance, yet only 9% of UK businesses and 15% of US businesses have this type of insurance, according to the UK Department for Digital, Culture, Media and Sport, and the US Better Business Bureau, respectively. Here are the some important tips on how to prevent cyber attacks on businesses. Every day, cyber criminals are looking to use the internet to steal private information, money or disrupt how business is done. Having up-to-date antivirus software isn’t just important to protect your business from phishing attacks, they’ll help protect from all sorts of dangerous threats. While it’s almost impossible to plan for every potential cyber attack, a little proactive monitoring and a well-defined series of steps won’t hurt. Because if neglected, then it gives an opportunity to anyone and everyone to walk away with your firm’s sensitive data. As such, it's vital that businesses do all they can to protect themselves online. Safeguard your company’s hardware- A survey conducted by IDC says that most of the data breaches occur when stolen equipment reaches the hands of the hackers. Also, it is better if you don’t overlook the effectiveness of protecting your physical storage disks. Encrypt data- Encryption of data gives your company an upper hand when your data falls into wrong hands. IT security systems can only go so far. The number of cyber attacks on small businesses continues to rise. The rule of thumb is that passwords should be long and include uppercase and lowercase letters, numbers, and special characters. Protect against the threat of an attack Even though the threat of cyber attacks is real, it’s easy to forget all about it until one strikes. share that password with the device user only, improving your company protection from a cyber threat, Hacking For Good: UAE Startup VUL9 Wants You (And Your Enterprise) To Be Cyber Resilient, Why We Need to Worry More Than Ever About Getting Hacked, Phishing In All Its Forms Is a Menace to Small Businesses, Feds to Car Makers: Make Sure You're Ready for Cyberattacks, Global Financial Network SWIFT Warns Customers of Multiple Cyber Fraud Cases. Restricting them from password sharing will also help. Here’s how to put these steps into action. As recent data breaches indicate, businesses of all types, sizes and in all locations are at real risk of a cyber attack at any given moment. If you want to prevent a cyberattack, you have to get serious about strengthening your cybersecurity foundation. Several ways to explore to prevent cyber attack on business: Continually Educating Personnel. Also check that this software is activated and updated on all company devices. Cloud computin… Top of the list should be educating them about the risks associated with using unsecured networks to access work information. Seek specialist advice for cyber security insurance Minimize your risk by seeking specialist help to select the best type of insurance for your company, based on your risk of attack and the financial impact of such an event. Hackers usually find such passwords difficult to break. Save a copy of your encryption password or key in a secure location separate from your stored backups. For example, the UK Cyber Security Breaches Survey 2018, carried out by the UK government and Portsmouth University found that 43% of UK businesses have experienced a cyber security breach or attack over the last 12 months, with only 20% of UK companies offering training to staff within the same time frame. Cyber Attacks on businesses seems to be inevitable- at least with the prevailing situation in the cyber landscape. Cyber-attacks on both private and government organizations happen on a daily basis. Research by Datto has shown that 1 in 5 SMBs get hit by ransomware attacks. Antivirus software. Restrict network admin rights Restricting IT admin and access rights to a small handful of users is invaluable in minimizing the risk of data breaches as employees cannot give away information they don’t have access to. Even if you don’t currently have the resources to bring in an outside expert to test your computer systems and make security recommendations, there are simple, economical steps you can take to reduce your risk of falling victim to a costly cyber attack: Here’s how to protect your business from ransomware, phishing attacks, and … Threats to businesses can take a … When a cyber attack takes place, businesses usually have to close temporarily to establish what went wrong and make effective changes to prevent an attack happening again. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Top 5 Cloud Security related Data Breaches! US research into the cost of data breaches has shown that in 2017, the global average cost of a single data breach event was USD 3.6m – equivalent to USD 141 per data record. This is a simple, yet effective way of preventing intruders from walking away with company equipment and the sensitive data they hold. After all, the best offense is a good defense. Therefore, even the most security-conscious businesses get vulnerable to cyber attacks. You also need to be able to rely on your employees practising safe internet and network usage to achieve greater protection from hackers. With ransomware hackers locking companies out of their systems, encrypting their data and asking for a ransom to be paid before releasing the data, you can stay one step ahead of them by backing up all of your data and storing it separately. Be sure to encrypt all sensitive data, including customer information, employee information and all business data. Here are five steps to take to reduce your risk of a cyber-attack: 1. Regardless of how well-read you are on the latest cyber attacks out there, keeping your antivirus software updated will immediately eliminate 99% of the threats to your business. Cyber Attack Prevention Plan. As staff members grow tired of the inconvenience, they are likely to return to accessing work on personal devices, regardless of policies prohibiting this. 6.) 7.) The best offense is a good defense. 3.) This is where a cyber insurance cover can come to your rescue. An effective cyber crime protection strategy must consist of two elements: preventing physical access to sensitive data and rendering that data useless if … Create a security-focused workplace cultureEmployees are the most common cause of data breaches as many don’t recognize external threats when they occur or have a good understanding of the daily actions that leave a company vulnerable to a cyber attack. Download and install software updates for your operating systems and applications as they become available. And that’s due to the fact that it becomes useless even if a hacker sniffs it out- and mind you it’s not that easy to break into the encryption available in the market these days. Do not use any USB medium (Memory Stick, HDD, etc. Create cyber security awareness amongst your staff. Investing in cybersecurity measures may not rule out an attack but will alert the business to attempts and were to up the investment in more measures to keep the hackers away from core systems. Knowing How to Prevent Cyber Attacks Can Seem Difficult. Discourage password sharing Employers can create a security conscious culture in which password sharing seldom happens. Companies can achieve the latter by always encrypting their data. As highlighted by researchers in the International Journal of Advanced Computer Science and Applications, data encryption remains the ‘most efficient fix’ for data breaches, should they occur. 1. A business or company should start its cyber-attack prevention strategy by protecting its devices and other hardware with hard to guess passwords, limited access and trackers etc. 1.) Use a firewall for your Internet connection. • Warning signs of cyber-attacks • Safe practices that they should use • Proper way to respond to a cyber-attack. Despite this, 30 per cent of small businesses don't have any cyber security strategies in place, and only 23 per cent have a policy for controlling access to systems that are limited to certain employees, according to the report by Business in the Community (BITC). Finally, install ‘find my device’ software on all laptops, phones and tablets. Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security, © Copyright footer_current_date - Cybersecurity Insiders, Why application-layer encryption is essential for securing confidential data, Payment Card Information leaked of Proliance Surgeons, Ransomware attack confirmed on Vermont Hospital, How to Fix the Vulnerabilities Targeted in the SolarWinds and FireEye Hack, Russia celebrates 100th anniversary for Cyber Attacks, 2020 Endpoint Security Report [ Delta Risk Motorola ], 2020 Cloud Threat Protection Report [ Netskope ]. Did you know that 80% of cyber attacks involve weak passwords? Join thousands of cybersecurity professionals to receive the latest news and updates from the world of information security. Also, implement complex system passwords that are unique while maintaining a corporate environment that prevents personal and confidential information from being exposed. How to Fix the Vulnerabilities Targeted in the SolarWinds and FireEye... How to Secure Your Apps with SaaS Security Posture Management (SSPM), List of Countries which are most vulnerable to Cyber Attacks, Top 5 PCI Compliance Mistakes and How to Avoid Them, Google not to use Fitbit data for advertising purposes, Smart Tachographs: Innovation out of necessity. Copyright © 2020 Entrepreneur Media, Inc. All rights reserved. Ransomware can work quietly in the background and only be detected by an anti-virus programme when it is too late to save your files. Related: Hacking For Good: UAE Startup VUL9 Wants You (And Your Enterprise) To Be Cyber Resilient, Image credit: The more eyes on your businesses cybersecurity, the better. Over 90% of cyber-attacks use information stolen from employees who unwittingly give it away. 5 Cyber Attack Prevention Tips. Zero-day vulnerability threat detection requires constant awareness. Educate employees on the latest happening in the cyber landscape, so that they can help mitigate cyber risks with ease. Having an effective prevention strategy in place is key to avoiding the risk of cyber attacks. But remember, the backup should be done in an effective manner and that too should be in the retrievable form as soon as a disaster strikes. This scenario of extortion as a result of a cyber attack is becoming more and more common for all business types and sizes. They can achieve this by using longer or more complex passwords. Use Encryption for Sensitive Business Information Use full-disk encryption to protect all your computers, tablets, and smartphones. It’s wise to invest in cybersecurity insurance these days- Because cybercriminals are becoming too sophisticated these days, they are coming up with ways to break into the most advanced cyber defenses. As more and more sensitive information is stored digitally, it’s important that your policy cover not only standard practices such as routine security audits and data backup, but that it also addresses newer concerns such as: 1. Encrypt and back up dataAn effective cyber crime protection strategy must consist of two elements: preventing physical access to sensitive data and rendering that data useless if it falls into the wrong hands. Teach avoidance of unsecured websites Staff members should be taught about the importance of never accessing unsecured websites on work devices because this gives cyber criminals direct access to sensitive data that is stored on that device, as well as browser histories and passwords. How to stop cyber-attacks on your organisation ... experts to discuss how best to protect the UK’s critical networks and businesses from cyber-attack. Use A STRONG PASSWORD and change regularly. Use robust anti-malware and firewall softwareResearch has shown that the most common cyber crime experienced in the UAE in 2017 was malware infection, which accounted for 53% of all cyber attacks. Know your enemy. Do not overlook the effectiveness of physically attaching computers to desks. Use of anti-malware solutions and protecting enterprise networks with efficient firewalls will also help in keeping your enterprise IT safe from attacks. But security analysts say that to a large extent most of these attacks are avoidable if companies chose to follow the below-specified steps crafted specifically to protect their enterprises against cyber attacks. Invest in cyber security insuranceBecause cyber criminals continue to work tirelessly to find ever more advanced ways of breaching security defenses, even the most security-conscious businesses remain at risk of an attack. If in case, an attack occurs, most of the policies not only cover the financial loss caused from data theft but also help in co-paying the costs involved in recovering data and that includes paying to data recovery experts and for buying new hardware as well as software. Like storing the data on the cloud which is protected by multiple security layers and inculcating responsible BYOD security policies among the employees working for your business environment. And with ransomware featuring as the most prevalent cyber security risk to small businesses today, protecting your business from ransomware and other types of malware is vital. By not only educating staff members on the risks, but also by leading by example and never sharing passwords or asking staff members to temporarily log in guests, contractors and new hires. Updates are improvements, so if you remain on older systems, there may be cracks in the defence systems that leave you vulnerable to cyber attacks. Implementing this alongside thorough and ongoing employee education on cyber security really is your best bet to ensuring that the threat of a cyber attack never becomes your reality. Investing in an optimized firewall is therefore key for preventing malware from entering your computer systems. For instance, if one of your employees working in R&D loses his/her laptop, then the company for which he/she working for can land into serious troubles if the sensitive data reaches the hands of the competitors or those having nefarious intentions. This should include clear definitions of what unsecured networks are, and where they are commonly found such as in coffee shops, airports, hotels and so forth.