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Cybersecurity and Ransomware - Best Ways to Protect Businesses

 

Cybersecurity and Ransomware

Cybersecurity has always been controversial, and with the recent increase in the number of ransomware attacks, it has become all the headlines. Nearly 66% of companies faced this software threat in the past year, creating a state of panic and anxiety in many companies.

The ransom amounts spent by companies after being exposed to ransomware range from $294,000 to $2.9 million. Therefore, all companies need to take stringent measures to improve their cybersecurity.

The current state of cybersecurity

System protection and anti-virus programs are the most widely used technologies to protect digital data, but they are not able to provide complete protection in light of the continuous development of current hacking and piracy software. Cybercrime perpetrators continue to develop new ways to penetrate enterprise systems, as many of them have succeeded in bypassing traditional security measures.

Companies incur losses amounting to $1.4 million on average to recover from any security breach of their systems, and this takes approximately 30 days. Some small companies may not be able to continue their work after being exposed to a cyber-attack, unlike most large companies, which are often able to recover faster and more smoothly.

Adopting a strict strategy to limit security breaches is difficult to achieve in light of the increasing spread of remote work and the hybrid work method that combines the traditional method and remote work.

Cyber ​​security strategy

Cybersecurity Strategy

A robust security strategy provides comprehensive protection for your data using different recovery methods that will protect your company from security breaches for the next five years. Here are some of the basics of this strategy to protect your business:

Research

Continuous and comprehensive research is a cornerstone of any successful strategy. Therefore, it is necessary to comprehensively analyze all hacking, fraud and ransomware programs related to your field of work to overcome any potential danger. In addition, you must follow competing companies that have been subjected to a security breach and analyze this threat so that you can build a strict security strategy, and do not forget to schedule a research mission periodically to keep your company at the forefront.

Employee training

It is necessary to involve your employees in your electronic security strategy and inform them of the methods that must be followed to protect your company’s information, in addition to obligating them to a clear work policy. Documenting these methods in work policies will limit the occurrence of any threats within the organization, and of course training employees is always an essential factor that cannot be neglected.

Internet security

Having a dedicated security program is crucial to protecting your company from cyber threats and ransomware. Security software acts as a security layer between your internal network and the Internet, and must be installed on the devices of remote employees. Most companies do not do this, even though the remote work environment is one of the environments most at risk of a security breach. You must ensure that there is a VPN and security program dedicated to your company on the devices of employees who work remotely.

Create backups

Having a post-breach plan is a no-brainer because a cybersecurity strategy cannot be 100% perfect. Creating frequent backups of your company data means that you will be able to continue your business even if security systems are compromised at some point. It is advisable to automate the backup process frequently to have consistent data and avoid any human errors. If you cannot do this, copy manually at least once a week.

Change passwords

It's obvious but often overlooked. Therefore, every employee should change their passwords every three or four months, and these passwords should have a certain level of complexity by avoiding general passwords such as birthdays, people’s names, and other passwords that can be easily guessed.

The principle of distrust

an illustration depicting the principle of lack of trust in the workplace

The principle of lack of trust has recently become widespread in various areas of work. This principle focuses on questioning the identity of any technology or program that attempts to communicate with the company's internal system. If an employee needs access to a specific system or application, you should verify that this is necessary.

As for employees who are authorized to connect to the company's system, you must require multi-factor authentication when logging in to verify that only the person in question is connected to your company's system.

Activate spam filters

The spam control feature is a must, as it is possible for a virus or hacking program to infiltrate your personal device as soon as you click on a link, and this may be by mistake. Therefore, you should use this feature to avoid spam messages from reaching your email or the email of one of your company employees.

Investing in technology

Adopting a clear and rigorous strategy is a good start, but you will not be able to continue without the necessary programs to implement this strategy. Here are some electronic security programs that you should use in your company:

  Programs to monitor network security

  Information encryption and cloud encryption programs

  Anti-virus software

  Electronic protection programs

  Digital transaction programs (Blockchain)

  Artificial intelligence programs for protection

You should choose what suits your field of work from these programs because using all of them may not be necessary.

Documentation and practical application

an illustration that represents the process of approving a cybersecurity strategy within a business environment

Approving a cybersecurity strategy requires business policies, general guidelines, and detailed explanations of all the issues to be considered. It is also important to clearly define the responsibilities of each employee, and the opinion of the people concerned must be taken into account to ensure the effectiveness of the strategy.

Your final step will be to conduct continuous assessments of potential risks and adjust your security strategy accordingly. You should make proactive changes in your strategy and make sure employees are informed of these changes through ongoing training.

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