Cyber Security Essentials to Consider
Has your customer told you that you need a security program but have no idea where to start?
Because of the nature of cybercrime, the risk of a supply chain attack is very real. Increasingly, customers are insisting that you demonstrate adequate cyber protection to protect themselves. If you cannot, you risk losing potential business.
Recent statistics reveal a huge increase in hacked and breached data in the workplace. With people working from home and the increased use of remote, mobile, and IoT devices, COVID-19 has certainly created a hacker’s playground and a greater threat than ever before.
The world of cybersecurity is one of mystery and intrigue to the average business owner. You are a professional in your field, but understanding what security program is best for your business is a challenge.
Here we look at how to shop for a new security program.
Know What the Threats and Risks Are
Securing your customers’ data is a legal requirement. One of the largest fines issued for data breaching in the USA was right here in California in 2020. Google was fined 57 million dollars by France’s GDPR enforcement agency. It is worth getting your security right – no one is exempt.
It’s important to understand the threats that make your business vulnerable. Cyber threats come under three headings:
Exposure to Threat
These may be:
- External – these represent 70% of the threat to your data according to Verizon’s latest Data Breach Investigations Report. They consist mainly of direct cyberattacks aimed at stealing data for financial gain by finding a gap in your software to do so.
- Internal – often human error, unfortunately, such as someone sending a file to the wrong place. Employees are vulnerable to engaging with phishing emails. These are a considerable threat to your security and are how most breaches are executed. You can read more about them in our article Essential Cybersecurity Solutions for Small Businesses.
- Partner – these are threats to your data caused by poor security or lack of knowledge by one of your partners. If a vendor’s security is compromised, your client data may then become a risk. If you get a breach because of a partner, you remain liable. You need to know what standard of protection they have in place to protect your clients.
Industry
Your protection requirements will differ depending on your industry. A one-size-fits-all approach is not good practice. A bespoke security program is likely to offer you a system compliant with your industry standards.
For example, if you are a healthcare business you will need a package compliant with HIPAA’s. Don’t forget if you trade with Europe you need to comply with GDPR. Many organizations also choose to opt into NIST Frameworks or ISO 27001 standards – so do ask questions about which will suit your firm.
Budget
After a major data breach, 76% of firms increase their security budget – a bit like closing the stable door after the horse has bolted. We recommend that you protect yourself from the start. A good security management provider will take the time to understand your business needs and provide a bespoke package that is affordable.
A cyber breach is serious, but your security provider should feel like a close partner to your business and not pray on your fears to get a sale.
Is a Security Program Truly Essential?
Yes – if you want to protect your business. Would you be surprised to learn that Adobe, Yahoo, eBay, and Equifax are among the top 15 corporations to have suffered a data breach in the 21st century?
You may think that because they are large, they are a bigger target. Fair point. Now consider the size of their security budget – and yet the hackers still got through.
What we know is that cyber criminals are non-discriminatory. Company size is irrelevant to them. You need protection regardless of your business size.
Be Smart
Many businesses think they can download a cybersecurity software package and that this will be adequate to protect laptops and computers from external threats. Unfortunately, this is untrue due to the sheer volume and ever-evolving nature of online threats.
Consider what you can manage in-house and what you need to pass to your security management team – but do be realistic. Cybersecurity management positions are extremely hard to fill, simply because the job is so complex. Don’t underestimate what your business needs.
Get an Assessment of Your Vulnerability
At Tiro Security we offer a highly-rated professional security consulting service. We consider your company size, IT demands, and existing security protection.
Outsourcing IT security is the norm for small to medium-sized businesses. We can quickly provide you with a vulnerability assessment, so you know exactly where you stand. Once we have assessed your risk, we can compile a bespoke security program with ongoing support to help you better protect your company and your data.
Contact us now for a personal business security consultation. We can provide a top-level security service from an external position: all the benefits, none of the stress.