There is a common misconception that cyber criminals only go after large organizations, but smaller companies have become attractive targets. According to the US Cybersecurity and Infrastructure Security Agency (CISA), small businesses are three times more likely to be a target of cybercriminals than larger companies. A reason for this is that cybercriminals perceive small businesses as having weaker cybersecurity measures and thus easier to crack than large enterprises. The most common attacks against small businesses include not just phishing, but ransomware, which makes up 40 percent of attacks, and malware, which accounts for 20 percent. This is important because nearly all small businesses have customer data that could be compromised in an attack. So, having an effective cybersecurity program is essential for any business regardless of their size. Fortunately, there are some ways to upgrade your cybersecurity that don’t involve enterprise-level IT budgets.
Invest in your employees
Increasing the security awareness of employees is a cost-effective strategy to help small businesses protect their data. One of the leading threats that businesses face stems from employees not receiving training that introduces them to the threats that they may face. One effective solution is KnowBe4, which conducts test social engineering campaigns on employees by simulating phishing emails, and then tracking employee actions after receiving the emails. KnowBe4 also provides training videos to inform employees about the evolving cyber landscape and tactics utilized by cybercriminals. This tool is effective because it can give your company actionable data to track progress over time and ensure that users who repeatedly fall for phishing campaigns receive additional training to recognize suspicious activities. This training increases employee awareness and makes them better stewards of company data.
Make better use of the tools you already have
Most companies use the Microsoft 365 suite for their user administration, email, internal communication, file sharing, and data storage. Companies looking to enhance Microsoft 365 security can spend money on expensive security tools, or they can better utilize the built-in security features and settings to make their environment more secure. For example, an assessment of a Microsoft 365 environment against the controls set forth by the Center for Internet Security can highlight areas for improvement such as enabling multi-factor authentication, implementing data loss prevention policies, and tightening access controls. Businesses who utilize Amazon Web Services and other cloud-based providers can also strengthen their security using the same strategy, as these services also have default security configurations that can be improved upon with little impact to end users.
Deploy cost-effective continuous monitoring solutions
Continuous monitoring of networks and systems sounds like an expensive proposition, but it doesn’t need to be and should also be at the top of the list for maintaining a strong security posture. Small businesses with tight budgets can benefit significantly from affordable Security Information and Event Management (SIEM) tools. SIEM tools aggregate and analyze security data from across an environment, providing real-time insights into potential threats and vulnerabilities. Solutions such as Splunk and Graylog offer these capabilities without the need for a significant financial investment. SIEM allows small businesses to centralize their security alerts, streamline their incident response, and gain visibility into network activities, helping them detect and respond to suspicious behavior more efficiently. Regularly reviewing SIEM logs and reports enables businesses to stay proactive and address potential issues before they escalate into costly breaches.
Build a culture of security in your company
One of the most cost-effective strategies for mitigating cyber threats is to build a strong security culture. When leadership actively promotes a security mindset, it spreads throughout the business and makes every employee an active participant in safeguarding the company’s assets. This not only reduces the likelihood of human error – a common cause of security breaches – but also empowers employees to recognize and respond to potential threats. A crucial part of creating a security conscious culture is the development of clear cybersecurity policies. These policies should outline acceptable use, incident response, and data protection protocols that are easy for employees to understand and follow. Additionally, having a basic incident response plan is essential and should include step-by-step procedures for responding to various types of incidents such as data breaches and ransomware attacks. This plan not only helps minimize the impact of an attack but also reassures employees that the company is prepared for potential threats.
When combined, these elements can help create robust and cost-effective cybersecurity for small businesses. Investing in a security culture doesn’t require large expenditures, but it does demand commitment and consistency. By encouraging a proactive approach to security, businesses can reduce risks, enhance their defenses, and ensure that all employees are aligned with the company’s security goals. This not only protects the business but also builds a resilient and security-aware workforce, invaluable in today’s digital landscape.
How Tangible Security can help
For over 25 years, security-minded organizations have trusted Tangible Security with protecting their sensitive assets. Our sole focus is providing full-service cybersecurity, enabling us to offer each customer a tailored experience. We provide a full range of services from penetration testing and security assessments to staff training, security program and policy development, and staff augmentation. We will ensure that security in your organization becomes tangible.
Contact us today to learn more.
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