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Cybersecurity- How It Could Impact Your Business

Cybersecurity- How It Could Impact Your Business

When it comes to the information that your small business has access to or stores as part of your normal course of business, there are more security issues to protect that information than ever before. Small businesses play a key role in the economy and its supply chain, but they are also more dependent than ever on information technology, as it serves as the means to store, process and communicate a variety of data. The question is how to protect that data when you have only a finite number of resources available and new threats are available every day. Most small businesses are faced with that question, but may often feel that it is unlikely to happen to them.

The perception of some small businesses is that their size will help to keep them from being attacked because they are under the radar, so to speak. Additionally, they may feel that their information is not really worth stealing, so they do not have to be as concerned about cybersecurity. But the data on their customers and employees can be a powerful incentive to cybercriminals, who are looking for access to money, either through a business’ own finances or their customers and employees.

Attractive to Cybercriminals

Often, the factors that a small business may see as protections are exactly what is drawing a cybercriminal. First, let’s look at the resources. When your company is rather large, there is the financial ability to create a robust cybersecurity system and keep it continually updated. Often, larger companies will employ a whole section of their IT department just for this particular task. Even when this is the case, there are still hackers that will continue to try to get through their firewalls and various security options. In some cases, they are successful.

Additionally, a small company can often serve as a gateway to others within their supply chain. Intellectual property may be compromised as a result. With the additional factor of significantly less resources at their disposal, small employers are in fact a very attractive target for cybercriminals.

How to Protect Your Systems

With all those factors in place, it can be hard for a small business to determine the best way to protect their own systems. The Department of Homeland Security (DHS) has created an educational opportunity by designating the month of October as National Cyber Security Awareness Month. However, no matter what time of the year it is, assessing the risk to the security of your business is key.

It is important to remember that you need to take stock of your cybersecurity health, by looking at how to secure your own information using best cybersecurity practices, identifying your risk and the type of cyberthreats that you may be vulnerable to; and finally, by learning the best practices for guarding against cyberthreats. If you have an idea about the threats that your particular business may be facing, then you can determine the best way to use your resources to deal with your unique risks.

What to Do If Your Business Has Been Victimized

The reality is that even with the best efforts, it is still possible that your business may be attacked by cyber criminals. So what should you do if that does in fact occur? The first and most important step is to inform the local law enforcement authority or your state attorney general. They may initiate an investigation and require specific details from you. As they receive more evidence, they are able to potentially trace back to the cyber criminals. While it is not always possible to find the individual or individuals, the more information available, the better the odds are for law enforcement. Other important reporting steps include:

  • Report stolen finances or identities and other cybercrimes to the Internet Crime Complaint Center.
  • Report fraud to the Federal Trade Commission.
  • Report computer or network vulnerabilities to US-CERT via the hotline 888-282-0870 or through their website.

If any particular individual’s information was compromised, then it is wise to inform them so that they can monitor their credit and identity for any potential fraud.

The reality is that it can be very difficult to protect your systems from every cybercriminal out there. Hackers are constantly finding new ways to get around the latest security features that are being implemented. Therefore, the security of your business needs to be constantly on the forefront of your business plan. While you may not have all the resources of larger companies, you can still implement your resources in an effective manner.

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