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- Why Small Businesses Need a Cybersecurity Policy
Why Small Businesses Need a Cybersecurity Policy
- HR Policies
Ming Lee, Vice President - IT
(Last updated )
Ming Lee, Vice President - IT
(Last updated )
Cybercrimes targeting businesses have increased in recent years. Businesses lose hundreds of millions of dollars each year, creating serious financial risks.
Despite the shocking numbers, many businesses still don’t take cybersecurity seriously. Research shows that
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Business Email Compromise
(BEC) is on the rise, and the
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Canadian Anti-Fraud Centre
(CAFC) warns of new threats daily.
What is cybersecurity?
Cybersecurity is the practice of protecting cyber systems, networks, and programs from digital/cyber attacks. Some of the most common types of cyberattacks companies face are:
Malware
– This is malicious software usually in the form of an attack on a device or network. Common types of malware include spyware, viruses, ransomware, and worms.
Phishing
– Phishing uses email or text messages to convince you to open messages and follow specific instructions inside. Typically, these involve links that seem legit but are actually used to access your personal information and install malware on your device.
Spear phishing
–
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Another form of phishing
, used to target a specific individual or business based on personal information gathered by the scammers. The information is then used to help convince the targeted persons within the organization that the email is coming from someone they know or trust. This could be an email from the accounting department, supervisor or even the CEO, requesting valuable information or action.
Backdoor Trojan
– Involves
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malicious programs
used to install malware or data on your device to open a “backdoor” to your system. This allows attackers to hijack your device and access your information without making it known to you.
Ransomware
– This essentially involves attackers uploading malicious software to your device, allowing them to hold your system hostage while
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demanding a ransom
. Scammers could block your access or even threaten to release your business’ private, confidential information. However, paying the ransom does not necessarily mean they won’t make good on their threats.
Password attacks
– Another popular
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type of cyberattack
in the business place. Attackers will either try guessing your password or use more complex methods such as keylogging to gain access to your information. They may even combine the attack with phishing by getting you to enter your credentials on a site masquerading as a trusted site.
How to improve cybersecurity in the workplace?
If you're concerned about your team's ability to handle cyber threats, there are practical steps you can take to strengthen your defenses. Here are a few cybersecurity awareness tips for your employees:
Screen emails carefully
– If an email seems strange or suspicious, don’t open it. Look out for emails that may have a slightly different name or address or contain unfamiliar information or requests. Check the legitimacy of the email address by hovering over it. Don’t be quick to respond or action requests sent. If you are unsure, follow up with the person using a method that is more easily verifiable.
Keep your software updated
– Updating your computer and security software may keep you protected from malware attacks. Software updates are important for fixing bugs and glitches and adding new features to keep your data secure.
Use data encryption
– Data encryption is a great way to protect information. If an attacker intercepts your data, it remains difficult to decrypt without the key, thereby safeguarding sensitive business details.
The best way to protect your business from cyberattacks
Creating a comprehensive cybersecurity policy helps protect your business’s digital assets, maintain customer trust, and meet regulatory obligations. By clearly defining responsibilities, you ensure everyone understands best practices and avoids costly breaches.
Key takeaways
Cybersecurity threats are on the rise, targeting businesses of all sizes.
Ensuring you have a thorough policy is crucial for risk prevention.
Regular training and updates can help staff stay alert.
Do you need help creating a cybersecurity policy?
Knowing how to write a cybersecurity policy is critical for your organization’s data protection and management. If you need help creating a cybersecurity policy or any other policy tailored to your business’ needs, we’re here to help. Our experts can help you develop company policies and with any
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HR
or
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health and safety advice
you may need. To learn more about how our services can benefit your business, call us today at
1 (833) 247-3652
.
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