Thursday, Dec. 5, 2019 | 2 a.m.
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Cybersecurity should be a paramount concern for all businesses. The FBI's Internet Crime Report estimated that the cost of cybercrimes reached $2.7 billion in 2018. "Online criminals and the acts they perpetrate are extremely harmful to businesses, consumers and the overall economy. Owners and managers are responsible for developing and maintaining organizational cybersecurity. This can be difficult for some small businesses without the budgets for high-end technological services," said Nicole Cypers, Vice President of Public Relations at America First Credit Union. "Fortunately, implementing security measures isn't necessarily cost-prohibitive and doing so can go a long way toward protecting your interests."
Cybersecurity tips
The Federal Communications Commission reports that digital information theft has become the most commonly reported fraud. To help empower business owners against these breaches, here are some tips and best practices:
Create a mobile device action plan
Cellphones can be difficult to safeguard. Be aware of this before connecting a device to corporate networks or confidential data. "There are security apps to help prevent hacking into cellphones when you're on public networks. Beyond that, implement strong passwords and encrypt everything," Cypers added.
Keep your software current and equip your devices
All devices should be equipped with up-to-date, industry-standard security software. "Antivirus programs, browsers, operating systems, point-of-sale platforms, phones, laptops, tablets—everything that runs your business—should receive regular updates to ensure there aren't vulnerable spots," Cypers said. "Having a strong software strategy is one of the best defenses against attacks and malware." Install updates as soon as they're available, then run antivirus scans.
Monitor access points
Monitor access to every company device. Separate accounts by user and require strong passwords. Restrict admin credentials to necessary personnel and limit employee software installation. "Oversee the devices themselves as well. Because so much work is on laptops, tablets and cellphones, it's important not to leave them unattended and vulnerable to theft," Cypers said.
Be Prepared
Being consistent with cybersecurity measures is a necessity but even with the right protection in place, attacks can still happen. That's why it's crucial to have a plan. "Your team should be in a position to swiftly manage an attack or fraud attempt. Having a quick response can mitigate damage and restore confidence," Cypers said.
Secure Wi-Fi networks
Enable a firewall to secure the company's connections. According to Cypers, "the Wi-Fi network should be encrypted and hidden. Your router should be password-protected as well."
Work with your credit union or bank
Work with your company's financial institution and take advantage of their security tools. "Use them as a resource. They should advise you on protecting your business and offer counsel on any anti-fraud services at your disposal. If they cannot, consider moving accounts," Cypers said.
Train employees
Train your team in security policies and practices. "Create cybersecurity protocol for all employees at every level of the company. Teach them how to appropriately handle customer information," Cypers said. "Business owners should regularly educate staff regarding changes in procedures, software upgrades and more."
