Negosentro | How to Keep Your Business Secure | A business’ risk management plan should emphasize the importance of basic cybersecurity concerns. Effective measures which are purposefully aimed at addressing some of the most prominent security concerns which businesses face in their day-to-day activities can help to undercut their risk exposure dramatically.
Secure All Customer Transactions
By accepting electronic payments from customers, businesses open themselves up to potentially serious liability. It is crucial that they implement security protocols which are consistent with best practices and meet all applicable legal requirements. PSD2 SCA creates a very strong layer of protection for online payment processing. This type of multifactor authentication is now a requirement of the EU revised directive.
Store Customers’ Information Safely
Individual businesses are sometimes targeted by cybercrime perpetrators to retrieve customers’ private information. In some instances, these criminals are looking for more than just credit card numbers. In fact, they tried to intercept people’s personal information in order to perpetrate identity fraud. If they are successful, a business who is responsible for the breach of this type of sensitive information may have major liability concerns. Also, being remiss about cybersecurity measures and then suffering a data breach can seriously wound public perception regarding a business’ general management and trustworthiness.
Any business which collects personal information from customers must have stringent policies and protocols about how they store it. Some states require that they have formal written policies about protecting data. Policies must include information about who is responsible for creating and enforcing directives as well as notification procedures to let customers know when information may have been compromised.
Make Policies Geared Towards Remote Workers
Building a hybrid workplace benefits numerous types of businesses. However, it also gives rise to new security concerns. It is more difficult for businesses to establish and enforce policies when employees are working remotely. Viruses or malware on a single employee’s home computer could threaten an entire business’s network. Also, an increase in the total volume of online communications can increase susceptibility to fishing and email scams.
Businesses should periodically review and update security policies to meet the practical needs of its remote workers. It may be useful to analyze past problems and get input directly from employees who work remotely.
Offer Ongoing Training to Staff
Every single team member needs a thorough understanding about what he or she needs to do to uphold security. Companies of every size need to be prepared to offer training opportunities about a company’s internal policies as well as general best practices in security. For example, teaching employees about how to recognize suspicious emails could prove to have significant benefits. Usually, it is advantageous if cybersecurity training features practical examples and interactive demonstrations. Also, it is important to note that it may be necessary to provide training on these types of issues more than once.
Get Cyber Liability Insurance
Being able to respond to a security breach online quickly can be extremely important for businesses. By arming themselves with cyber liability insurance, they can have the resources that they need to deal with an issue, and it may spare them from having to make tough choices about what is and isn’t feasible. This type of coverage can help businesses restore their operations after the detection of malware or rent somewhere, and it can find forensic investigations to identify the source of a breach.
Monitor Network Activity Continuously
A comprehensive monitoring system can make it possible for businesses to never let their guard down in protecting their networks. IT managers can get real-time updates when an unexpected event or an unauthorized access attempt occurs. Learning about these types of issues right away enables them to take swift remedial measures and thereby mitigate potential damage considerably. Depending on the size of a business, it may be prudent to outsource this type of function.
Business principals, officers, and directors must all be vigilant about security initiatives. As their risk exposure changes and they must contend with new emerging threats to their operations, they must be willing to adapt bear risk management plans appropriately.