Small Business Cybersecurity: 5 Ways to Protect Your Business Data

Introduction

Small businesses without internal IT staff are often an attractive target for cybercriminals as they are considered vulnerable. Companies with less than 100 employees have the highest risk compared to the industry average, according to the latest Cyber Risk Index from Trend Micro and the Ponemon Institute.

The breach can be devastating: A recent study sponsored by Intel and conducted by J. Gold Associates showed that the average price of a small business data breach is over $ 100,000. 3 In addition to the loss of business and loss of customer trust, non-compliance with legal requirements such as the Payment Card Industry Data Security Standard (PCI DSS) can result in thousands of dollars in fines and loss of corporate accounts each month.

While the consequences may seem daunting, the good news is that these types of modern technology companies are helping to fight a lot of cybercrimes. To better protect your business and customer data, start by creating your own small business security plan.

Read on to learn more about the different types of threats and how some simple steps and security techniques can improve your protection against them.

Common Threats

The first step in protecting from major cyber security threats for business startups or small businesses from data breaches, which may include unauthorized access to banking information, customer contact and personal information, as well as your own financial products and data, is to understand the different types of threats.

Malware

Malware is a broad term that covers the many ways in which cybercriminals gain access to devices, networks, websites, and ultimately your data. Malware type:

• Infectious and recurrent viruses on your system and other connected devices
• Spyware runs in the background of your device and tracks your internet activity
• Key loggers that intercept keystrokes to steal data and passwords
• A worm that multiplies like a virus but aims to destroy data as the worm spreads
• "Trojan horses" that pretend to be legitimate programs for access to modify, copy and delete data, as well as provide illegal access to networks. Trojan subcategories include: backdoor Trojan horses that allow remote control of infected devices; rootkits, which help hide malware so it goes unnoticed; and bots that infect a large number of computers and create a "bot network" that obeys a hacker's central computer.

Phishing

Phishing is a social engineering attack that tricks users into clicking on links that download malware or provide access to sensitive information. Scam emails often come with malware-infected apps or links to websites that download malware to your device. This link may also redirect you to a fake website with a form asking you to provide confidential sensitive information such as passwords. Social engineering attacks can also be carried out on websites via fake social media links or shared images infected with malware.

Ransomware

Ransomware is a combination of social engineering and malware. After clicking on a misleading link or file, your device becomes infected with the malicious Trojan horse. Once infected, the program blocks access to your data or your system until you agree to pay the ransom. Ransomware attacks are on the rise, with 61% of small businesses affected in 2018, up from 52% in 2017, according to a study by the Ponemon Institute.

Cyber Security Best Practices

To protect your small business from these threats, you need to implement the following best IT security practices for small businesses:

Update your technology:

According to a recent Intel Small Business Study, computers over 5 years old are the source of 34% of reported malware attacks, compared to 6% for devices less than a year old. 3 The new device offers additional protection against today's threats, including fingerprint scanning and hardware-based security features of the latest Intel® Core ™ processors.

Take advantage of the Security Benefits of Windows* 10 Pro:

The new device is equipped with the latest Windows operating system. Configure Windows * 10 Pro to run only allowed apps; use Windows Hello technology for two-factor authentication; enable BitLocker, which encrypts sensitive data if your device is lost, stolen, or compromised.

Improve your use of Passwords:

In a survey conducted by the Ponemon Institute, 40% of respondents said their business had been attacked after a password had been compromised. 5 Use Windows Group Policy or mobile device management software to set password strength and update requirements.

Implement Multi-Factor Authentication (MFA):

This secure method of logging in to an account or device requires multiple credentials - using something you know (password or pen), something you have (token), or part of you (fingerprint).

Stay Connected without Public Wi-Fi:

Intel® Always Connected PCs with 4G LTE connectivity allow you and your employees to stay online without compromising your data on unsecured public networks.