HOW TO PROTECT YOUR BUSINESS FROM CYBER THREATS

The COVID-19 pandemic has led to more online presence. Unfortunately, it has also led to a spike in cybercrimes, and small businesses are the most vulnerable targets. How do you create a cybersecurity strategy to protect your small business from growing threats? Christopher Reckord, CEO of tTech, told us how. 

Reckord explained cybersecurity using the analogy of a house with a gate, a door, and an alarm system. He used such an analogy to demonstrate that, in cybersecurity, there are many layers that you have to put in place to protect your information. 

“Business owners will have data, apps and personal information that you want to protect,” he said, adding that they must take proper measures to do so. 

Beware Ransomware

Reckord stated that scammers and hackers have advanced their skills. Security threats started mainly as viruses that stop your access to your information, but hackers have begun to encrypt information so that persons can’t access it.  The hackers then offer you a key at cost. This type of cybersecurity threat, called Ransomware, is malicious software that threatens to publish the victim’s data or block access to it unless a ransom is paid. Reckord said that as business owners, the information that you have can be valuable to someone else, which is why ransomware has become very prevalent.

Protect your online store

So how do you protect your information? What do you do, for example, if you have an Instagram boutique with over 30,000 followers and someone tries to hack you? Reckord says that in the security field, they offer a wide range of solutions to customers. It can be as simple as putting in a piece of technology, called a firewall, that blocks unauthorized traffic from entering your system, or it can be more complicated as using multi-factor authentication. Multi-factor authentication is an electronic authentication method in which a computer user is granted access to a website or application only after successfully presenting two or more pieces of evidence. There are, however, many factors that contribute to a successful cybersecurity strategy. 

Reckord shared his five-step process to cybersecurity for business owners. 

Step one, he stated, is to take stock of hardware and software. Reckord said that small businesses need to understand and document what they have. 

“If you see hardware or software that’s coming up in the system that you know you didn’t put there then it’s cause for alarm,” he warned.

This is called whitelisting the system. Whitelisting prevents malware from being installed on the computer or network by allowing only approved applications and preventing undesired programs to be installed. 

Step two in Reckord’s process is to “lock shop”. Lock Shop refers to putting extra locks, passwords, and enforcements in place to restrict access from anyone who does not have the right credentials. 

Step three is to install protection. Chris suggests using anti-malware software or varying versions of technology that continuously test the internet line and the system every time it starts up.

Step four, according to Chris, is to make updates and apply patches. Don’t ignore the notifications prompting you to make updates. The sooner you update, the sooner you will feel confident your device is more secure. Software updates often include software patches that cover security gaps to keep hackers out of your system.

Lastly, for step five, Reckord emphasized the importance of being aware. He advised that business owners should get cybersecurity training for themselves and everyone in the office.

The theft of digital information has become a commonly reported fraud, surpassing physical theft. Every business that uses the Internet has the responsibility to create a culture of security that will enhance business and consumer confidence. 

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