It’s no secret that cybercrime is on the rise. According to Forbes, 2023 saw a 72% increase in data breaches over 2021. With the world becoming more interconnected across the internet, businesses must rely more on the safety of their technologies to keep the business safe.
Did you know that a staggering 94% of cybercrime in 2023 came from phishing attacks, and of all the recorded attacks, 43% targeted small businesses?
That means, regardless of your business size, you are a target for attackers. Being proactive about your safety is essential, especially for small businesses.
Additionally, the average cost of a cyberattack on a business in 2023 was $4.45 million according to IBM. This staggering figure not only covers the immediate expenses like data recovery and legal fees but also takes into account the long-term impacts such as reputational damage and loss of customer trust.
How to help prevent cyberattacks
Protecting your business, its data, and its operations infrastructure is the number one priority for your IT team. Knowing key steps and practices can help create foundational protection for businesses.
Ensuring your business has a robust cybersecurity strategy in place helps to mitigate risks. Regularly reviewing your security tools and conducting frequent staff trainings are essential steps in creating a comprehensive cybersecurity strategy.
Audit your cybersecurity measures
Your cybersecurity strategy should be proactive, reactive, and constantly evolving. Professional cybersecurity audits are crucial to assess your current cybersecurity measures to identify vulnerabilities and strengths and determine how to best improve your security.
Regular security audits will also help you monitor your evolving cybersecurity landscape. They provide a comprehensive analysis of your organization’s IT infrastructure and identify vulnerabilities as well as active and potential threats. This information is then used to educate new or updated security measures and plan a response.
Businesses that don’t perform regular security audits face increased cybersecurity risks and increased risk of failing compliance requirements.
Be proactive
Once weaknesses have been identified, implementing solutions to mitigate those risks becomes a top priority. One example of being proactive in your cybersecurity measures is implementing Multi-Factor Authentication (MFA) across your company. With phishing being the most common and successful threat for account access attacks, this security tool can help keep accounts secure even in the event of falling for a phishing attempt.
MFA adds an extra layer of security, making it harder for attackers to gain access—even if they have your password—by requiring multiple verification forms before granting access to sensitive data. With MFA, the success of phishing attacks decreases significantly because attackers usually don’t have access to the additional verification method. Unless of course you use the same password for your email where MFA codes are being sent, but that’s a topic for a different article.
Bring in professional support
Bringing in professional support for your IT and cybersecurity needs can look different depending on your business’ needs. For example, our discovery package provides a comprehensive look at your IT infrastructure, including a risk report, dark web scan, network evaluation, and compliance review.
No matter your business size, or IT needs, understanding the vulnerabilities of your infrastructure is critical to making sure your business remains safe and successful.
If you’re ready to assess the cybersecurity of your business, contact us to book a discovery.