Are You Monitoring Your Online Security?

With all of us – businesses, non-profits (NGOs) and private individuals – on line everyone moment of the day, it behooves us to pay attention to our cyber network.

After all, we protect our homes, businesses and offices from burglars. Small business owners and NGOs would be foolhardy if they didn’t protect their computers, databases and cyber networks from criminal breaches. Invasions such as these pose a diabolical threat to you, your clients and donors, and our democracy.

Just how big is the risk? Extremely big and very real. According to the Verizon Data Breach Investigation Report, 61% of breaches hit smaller businesses, up from the previous year’s 53%.

UPS Capital reported:

• ·         Cyber attacks cost small businesses between $84,000 and $148,000.
• ·         60% of small businesses go out of business within six months of an attack.
• ·         90% of small business don’t use any data protection at all for company and customer information.

According to Statista.com, the average organizational cost to business in the United States after a data breach in 2017 amounted to $7.35 million.

Almost two-thirds of all cyberattacks are now directed at small businesses and people. Cyber criminals recognize that these categories are most likely to disregard paying attention to preventing cyberattacks.

You have to understand that you have a lot to lose. Small businesses and non-profits store not only their own critical data and information but also customer records (including possibly credit card, social security, and/or other numbers), vendor information, customer lists, passwords, and much, much more. You could be held criminally liable for not protecting your customers and donors’ information. You should protect it like your lives.

A survey of small business owners by Nationwide found only 13% of respondents believed they had experienced a cyberattack. However, when they are were shown a list of specific examples of attacks, including phishing, viruses and ransomware, the figure of those reporting attacks increased to 58%. As a result, you should learn about the types of attacks and oversee your staff’s computer activity.

There is a lot you can do to protect your small business from a security breach. Most often, data breaches stem from the following causes:

• ·         Hacking/malware
• ·         Credit/debit card fraud
• ·         Bad employees
• ·         Lost paper documents
• ·         Lost mobile devices, or
• ·         Accidental disclosure by someone within the company.

As a result, experts suggest that small businesses and non-profits do the following:

• ·         Regularly test your data security systems and procedures.
• ·         Develop a data breach response plan that includes a communications response plan ― how you will notify customers, staff, the media, etc.
• ·         Getting cyber liability insurance.
• ·         Train staff to spot the warning signs of “phishy” email.
• ·         Encrypt sensitive data.
• ·         Enable two-factor authentication.
• ·         Don’t forget physical security. Not all data theft happens online.

Statistically, attacks remain undetected for 146 days. When you uncover a cyber breach, you are advised to do the following:

• ·         Act immediately. Contact your IT team, legal counsel and cyber liability insurance agent.
• ·         Contain the breach. Take affected systems offline, but don’t turn them off. That’s so your IT team can examine the source of the breach.
• ·         Document every step. Authorities will need to know these details.
• ·         Communicate clearly. Ensure affected groups are made aware of the issue and the steps being taken.

The takeaway is that data security needs to be at the top of your list of vital daily tasks and be given the attention it merits. By taking the right precautions, and getting professional protection and coverage you greatly reduce the risk of catastrophic business interruption due to a security breach.

For my previous article on this topic, please refer to this post: Cyber Security is Your First Responsibility, located here: https://boostingyouroutreach.blogspot.com/2017/.

Join the conversation in cyberspace about cyber resilience. If you have examples of how you’ve protected yourselves, let me know about it and I’ll help you spread the word about your success. If you need help, reach out to me.

Scroll through my blog to read about more ways to boost your outreach.

I will be presenting an introductory workshop on social media at Ramapo College on Monday, March 19, at 6 pm. It will be sponsored by the NJSBDC-Bergen County and Ramapo College. If you’re available, please join and become part of the cyber crowd. Registration: https://www.eventbrite.com/preview?eid=43959333550

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/              

If you’re looking for advice on recruiting, company handbooks and other human resources topics, I’d like to suggest to you this interesting website:

http://hrtiebreaker.yolasite.com/