Business owners who believe their company is too small to fall victim to cybercriminals have a false sense of security. Cybercrime is an ever-present danger to small and medium-sized businesses (SMBs). It is often ignored until the company becomes the victim of a ransomware attack. It may be surprising to learn that 40 percent of companies with 50 or fewer employees have no cyber defense plan in place. Securing data protects the business as well as customers who expect their information will be safe. Consumer information is being stolen from companies every day. Between 2021 and 2022, cyberattacks against businesses with fewer than 1,000 employees increased 200 percent.

Develop a Cybersecurity Threat Prevention Plan
The defense against cyber attacks is to develop a strong security system. Criminals look for easy targets that are vulnerable and have little or outdated technology. Since the scope of the threat is so large the approach to security must be two-fold—preventing a breach and rebounding in case an attack is successful. Start with this list to avoid overlooking a critical step.

• Identify the assets you need to protect
• List and prioritize assets, risks, and threats
• Set goals and develop a timeline for execution
• Integrate goals into business objectives
• Document policies and share them with employees
• Continually update the security policy
• Test plan for potential weaknesses

Provide security training to employees
While employees are trained to perform their job duties on a professional level, businesses may overlook training related to cybersecurity. According to the VIPRE Small and Medium size Businesses (SMB) Security Trend Survey, almost half of the CISO and IT professionals who responded believe keeping data secure is their biggest problem. Employees should be trained to avoid phishing, clicking on links, and err on the side of caution when using company computers or navigating online.

• 82% of breaches in 2022 were due to human error
• 14% of data breaches are due to improper disposal of documents
• 36% of companies plan to provide more security training

Making employees part of the solution will make them your greatest resource to protect against security breaches. The more knowledge your team has related to securing the company’s assets, the less likelihood a cyberattack will be successful. Data breaches can often be prevented since some result from human error on the users’ end. The problem can begin with something as simple as sending an email to the wrong person that includes log-in information and other credentials. Companies should also evaluate how easy it is for employees to access personal and sensitive information. Businesses often rely on social media to reach out to customers. Employees should be careful when posting information about the company online to avoid sharing anything helpful to hackers.

Employees should also be trained to lock their computer files and sensitive documents. Cybercriminals have been known to gain entrance to facilities by accompanying employees who are unaware that the person is an intruder vs. someone who visiting to transact legitimate business Taking safety measures can prevent unanticipated problems.

Utilize Layered Security
Installing multiple security components (layers) is the best way to protect your data. This approach ensures that if one level of security fails to detect a threat, a backup security measure will detect the attack before any damage is done to the organization. Its up to each company to determine how many layers of security to implement. However, here are the layers are recommended to achieve an acceptable layer of protection.

• Firewall
• Patch Management
• Endpoint Protection
• Web and email content filters
• Multi-factor authentication

Practice Patch Management
Software companies frequently release new updates to enhance security, fix existing problems, and improve functionality. These updates are called “patches,” they are applied to endpoints such as servers, computers, and mobile devices. Patches are a series of short-term solutions that are applied until the next full software release. It’s important to have a process in place to ensure timely installation of the new release to prevent using outdated software. Weaknesses within a company’s network become even more vulnerable when companies fail to

Limit who has access to data and software
It’s a best practice to limit the number of people who can access the organization’s critical data. Controlling access based on roles and responsibilities limits the number of employees who can interact with applications and data and enhances security. This stipulation should be included in the Cyberthreat Prevention Plan.

Create Strong Passwords
Just imagine how much damage would be done If a hacker gained access to your network, files, and data. It’s vital to use strong passwords for the company’s router and firewall equipment. This should be a non-negotiable policy that is strictly enforced. It’s essential to protect your software services and hardware devices against unauthorized access.

• Use long, complicated passwords with letters, numbers, and characters
• Use unique passwords that weren’t used previously
• Update passwords every 90 days

Implement Multifactor authentication (MFA)
Requiring an extra measure to sign in addition to a password and username is increasingly being used by small-to-medium size businesses (36%) as an added layer of security. Using a pin or mobile push from a smartphone helps ensure that the person is who they claim to be. Microsoft’s research two-step authentication can prevent 99.9% of attacks against an account

Watch out for phishing emails
Be careful opening emails with attachments. Most ransomware attacks begin with official-looking emails that contain a file, invoice, or report. Opening the attachment spreads the ransomware throughout the device. The virus locks all files and leaves behind a note with instructions from the criminals. Train employees not to open attachments from unknown sources and questionable websites.

Install Antivirus software
Since employees often work remotely, it’s important to install antivirus software on desktops, laptops, and mobile devices to protect against malware and ransomware. These endpoints can be used by cybercriminals to access the organization’s network

Be Safe, Not Sorry
Securing your company’s data against cyberattacks should be a high priority. Customers frequently get letters from big companies notifying them that their information has been stolen by hackers in a security breach. It catches the people who are affected off guard, they become alarmed and wonder what will happen next. We read about companies whose data is being held captive until a ransom has been paid. These are extremely challenging situations for any company. While there are no absolutes when it comes to security, its imperative to develop a security plan that protects your business and the customers it serves.