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Cybersecurity Best Practices and Risks for Enterprises

One of the biggest risks faced by enterprises today is a data breach. If your sensitive data isn’t secure, you need to think about stepping it up. All you need to do is to look at the news headlines to see why this is so important.

To prevent such breaches, enterprises must understand their risks. Ransomware, hackers, insider threats and other dangers are out there and applying the following best practices can offer protection.

Do a risk assessment 

Every industry has its own risks. Merely focusing on cybersecurity compliance often means checking off the boxes.

Doing a full risk assessment instead helps you to identify your valuable assets and the current state of your cybersecurity as well as how to manage your security strategy. A proper risk assessment helps to identify your weak points and make adjustments accordingly.

Create a cybersecurity policy

A written cybersecurity policy is important because it becomes a guide for best practices and makes sure everyone in the company is on the same page. Apart from a company-wide policy, each department should create its own policy based on their particular needs and the central policy.

Keep cybersecurity software up to date

Software should be upgraded and updated to protect your network from new malware that comes out all the time.

Back up your data

Backing up data has become increasingly relevant. Having a full and current backup of all your data is a lifesaver if ransomware is used to hijack your data. Backups need to be encrypted, fully protected and frequently updated.

Enable multi-factor authentication

Multi-factor authentication requires to use a combination of elements like SMS/text messages, emails, biometrics and security questions. Extra layers of protection come from time-based security codes, text and email verification.

Risk-based authentication identifies current user habits, alerts you if user behavior changes, requires extra ID verification, and denies suspicious users access.

Raise staff awareness of cybersecurity

Certain staff members may be more vulnerable when it comes to data breaches. For example, business email compromise attacks are a growing threat. An email from cybercriminals is designed to make victims believe they are transferring data or money to an attorney, broker, business executive or external supplier.

These emails don’t contain malicious URLs or malware but take advantage of social engineering and target people who have access to sensitive information. It’s a low risk, high return opportunity and BEC attack protection involves training employees in cyber awareness.

To help prevent phishing attacks advise employees never to click on a link in their emails, for example, even if they think it’s legitimate or to never give out company information via email or phone. Even having the best cybersecurity policies doesn’t matter if your employees aren’t aware of them and how to follow them.

Enforce a strong password policy

Passwords should include a minimum password length, upper and lower-case letters, numbers, and symbols. Password vaults can prevent unauthorized users from getting access to certain accounts and simplify password management for employees at the same time.

Some major tips are that employees should not share credentials with each other, no matter how convenient this may be, and employees should be required to change passwords after a set period of time.

Know who has access to your data 

Third-party companies often work remotely with other companies and there is nothing inherently wrong with this. However, if your company works with third parties, it does mean that employees of these companies may have access to your information. This means there is more potential for a breach and you need to be aware of this and take measures to protect against this.

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  • Thanks for sharing this logan, great insights although I would like to add a few points from my end.

    1. Managing IoT security

    This year continues the trend of 2019, with IoT devices becoming increasingly popular. The most challenging aspect of IoT devices is their access to sensitive information. Security cameras, doorbells, smart door locks, heating systems, office equipment – all of these business network widgets are potential access points.

    2. Beware of phishing

    Are all your employees aware of phishing? It is important to note that internal threats do not end in malicious employees. More often, well-meaning employees inadvertently help offenders by providing them with access to the system.

    Cyber attackers use phishing techniques, such as spam and phone calls, to find information about employees, obtain their credentials, or infect systems with malware.

    I have read a similar type of article but it was in an infographic format, cybersecurity practices for enterprises in 2020. It also has some data and stats which is informative, here is the cybersecurity infographic link- https://www.loginradius.com/blog/2019/10/cybersecurity-best-practices-for-enterprises/

    Looking forward to reading more informative articles like this in the future…Keep it up, Logan 🙂