California was the first state to regulate data breach disclosures in 2003, requiring persons or businesses to notify those affected “without reasonable delay” and “immediately following security architecture discovery”. Victims can sue for up to $750 and companies can be fined up to $7,500 per victim. Part of what makes phishing attacks so damaging is that they’re very difficult to combat.
Finally, there should be guidelines for updating systems and software on time, as these patches guard against the latest online threats and vulnerabilities discovered by experts. With this in mind, we present 10 effective steps for preventing cyberattacks on your business. Large corporations and small or medium-sized enterprises have to be proactive to prevent an attack because hackers are always looking to exploit any weaknesses in their cybersecurity procedures. Companies are vulnerable to cyberattacks because the world of technology is constantly evolving, and cybercriminals know they can make a lot of money if they achieve their nefarious objectives.
Malware is a sneaky program that can obtain information by making its way onto devices via the Internet, social media, email, attachments, and downloads. For example, key-logging malware can track everything the user types on their keyboard. This means cyber criminals could access bank accounts, customer information, passwords, and other company-sensitive information. Make sure to keep your security software up-to-date to help prevent malware from sneaking onto your system and networks. Another very fundamental but essential step in protecting your organization from cyber attacks is to train your employees.
Having a risk management plan means you’ll know exactly what to do in case of a data breach in your business. Your IT provider should be able to help you create a plan, and be your first call to help implement it if things go wrong. Social engineering is a hacking technique that targets human behaviour and doesn’t rely on technical know-how to access your company’s data.
Setting up a firewall will protect your business’s internal networks, but do need to be regularly patched in order to do their job. Remember to install the firewall on all your portable business devices. Small and medium-sized businesses now store and manage a huge amount of sensitive data but they also typically have less security than larger enterprise corporations, and that makes them a target for cybercriminals. It’s good advice to get your store pretty much locked down for the holidays and not make too many changes to it, just to avoid the extra risk that that can entail.
Request a free cybersecurity report to discover key risks on your website, email, network, and brand. While these are a few examples of high-profile data breaches, it’s important to remember that there are even more that never made it to the front page. In October 2016, hackers collected 20 years of data on six databases that included names, email addresses and passwords for The FriendFinder Network. The FriendFinder Network includes websites like Adult Friend Finder, Penthouse.com, Cams.com, iCams.com and Stripshow.com. Most of the passwords were protected only by the weak SHA-1 hashing algorithm, which meant that 99% of them had been cracked by the time LeakedSource.com published its analysis of the entire data set on November 14.
Bennie cited data from the Australian Cyber Security Centre , which estimates that Australian businesses lose an average of $29 billion annually from cybercrime activities. A well-planned and effective Disaster Recovery Plan will pave the way for a swift reaction if your organisation does experience a cyberattack in the future. It should have a well-defined escalation path, and proactive communication is to be prioritised in case such an unfortunate incident occurs. While effective anti-malware tools catch and isolate software viruses when they strike, preventing these viruses from entering your database in the first place is vital. For less-sensitive electronics and non-networked equipment, standard surge protectors should suffice.