Managing Cyber Risks Key For SMEs

Reminder to small and medium sized business owners to take a look at their cyber security. Cyber incident reporting by organisations has increased 143% since Q1 2018. In that period, 507 cyber incidents were reported by organisations. Direct financial losses from all cyber incidents for the period were $2.2 million.

8 things to help manage cyber risks:

1. Make sure all employees regularly update their passwords and don’t write them down anywhere or use passwords they’ve used for other services.

  • Where you have default passwords in use for admin tools, these should be changed.
  • If you can, enable two factor authentication on website or system logins.

2. Buy and install good quality anti-virus and anti-malware software – don’t just rely on what comes default with your system.

  • Make sure you protect tablets, cellphones and any other devices you can that connect to the internet.

3. Change your office WiFi password regularly and don’t leave printed copies of it lying around.

  • Access to your WiFi could open up access to your files and systems if someone dishonest got in.

4. Don’t connect company devices to open or free WiFi networks or install and use unauthenticated apps.

  • These networks allow anyone connected to them to see other connected devices and could make your device a target for hackers.

5. Make sure employees only download apps from the Google Play or Apple stores if they’re conducting any work on their devices.

  • Unauthenticated apps could contain security vulnerabilities.

6. Keep your software up to date.

  • Vulnerabilities in unpatched software make for easy entry for hackers.

7. Set up logs to detect unusual activity and verify any strange business requests you get by phone if you’re unsure of them.

8. Get cyber insurance – cyber insurance covers you for cyber attacks and helps your business get back on its feet faster.