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Cybersecurity – Is your Business Protected?

Posted by Aaron Zahedani on Fri, Feb 06, 2015 @ 08:00 AM

Why should your business care so much about cybersecurity? You may think that you have ‘safety’ covered, but it is worth considering the potential issues a cyber attack could present and what you can do to prevent this happening. 

Cyber Security - protect your businessAwareness of the need to protect your company from cyber threats has increased, but sometimes the basic measures are not considered. Your business may have established policies and procedures, but are these procedures checked regularly, and are they enforced? 

It is worth considering the fact that cybercrime is a big business that is growing daily. It is only devastating when it happens to you, so it is not necessarily always at the forefront of your mind when it comes to day-to-day business operations. Bear in mind that the Malware is easily installed and once the data is collected it is sold on the black market. Small businesses that do not invest in security are obviously more vulnerable to attack.  A malware attack could cripple your business, and leave you with nothing. Is your business well protected? 

  • How many layers of protection exist in your infrastructure?
  • Are your employees aware of the potential threats often contained in a seemingly innocuous website, attachment or document?
  • Does your company even have strong cyber security policies in place? 

The Federal Communications Commission (FCC) offers cybersecurity advice for businesses, and makes suggestions on the top 10 cybersecurity tips to help keep your company and your customers safe. At the very least, consider adopting the following suggestions: 

  • Require employees to utilize strong passwords, password protect all devices and encrypt data  
  • Protect your information, computers and networks with approved antivirus software that is regularly updated with no ability for employees to disable the software on their individual machines
  • Provide firewall security for your internet connection
  • Regularly back up critical data for offsite or cloud storage so it is recoverable if you are compromised
  • Scan USB drives for viruses
  • Encrypt sensitive documents
  • Enforce your cybersecurity policies with consequences for any policy breach 

The FCC also provides Cyber Planner 2.0, an online resource to help create a custom cyber plan for your business. It also offers expert advice to help address your specific business requirements.

According to a survey conducted by PwC, CIO, and CSO, respondents in 2014 reported that the number of detected cybersecurity incidents soared to a total of 42.8 million, a 48% leap over 2013. They point out that this increase comes at great cost: Total financial losses attributed to security compromises increased 34% over 2013. 

2015 will only see a rise in these figures. Our blog concentrates on ways to help your business keep up with, and manage cash flow, and how to plan accordingly, but we recognize the importance of keeping your valuable information safe. As a business in the world of finance, offering an alternative form of commercial funding, it is obviously vital that we also adhere to the most rigorous of safety standards. Take a moment and evaluate how protected your business is from a cyber attack.

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Topics: Commercial Financing, Cash Flow management, Cyber security

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