Cybercrime and Small Businesses: 3 Simple Ways to Keep Your Data Safe

It’s Christmas day, and you and your family sit down in eager preparation for a post-turkey Netflix binge, only to find that your smart TV has been hacked. Locked down by malicious cyber criminals, you are politely informed that the only way to get access to your device is to pay a ransom. As far-fetched as this may sound, hacking into devices of all kinds is now becoming common-place and increasing in frequency. Of course, when it comes to cybercrime, small businesses are particularly at risk. Why?

There are a number of factors which tend to favour cyber-criminals, especially in relation to small businesses. Most start-ups and SMEs are woefully unprepared for any malicious activity and don’t have a plan in place should this occur. Others place their trust in outdated or ineffective security solutions, while still more believe that it won’t happen to them.

Graham Croock, director of IT Audit, Risk and Cyber Lab at BDO South Africa cautions, “Treat security breaches as “when” and not “if” situations.”

Cybercrime: Small Businesses Can Stay Safe

 The Human Element

Aaron Higbee, CTO and co-founder of PhishMe, made an interesting point in his interview with Infosecurity. He says, “While automated IT security technology does catch many attacks, the human is the truly last line of defence and must be ready to intercept these attacks once they’ve passed through layers of technology. It’s more important than ever that people are conditioned into recognizing cyberattacks and have a way to report suspect activity. This is the only way to truly prevent hackers from completely shutting down critical systems and holding hostage access to everyday necessities…”

Indeed, the human element has proven to be an Achille’s Heel in the fight against cybercrime. Small businesses need to educate their staff on the frightening and very real risks associated with hacking and data theft which can – and has – spelt the end for some businesses that have suffered a breach.

Further in his interview, Higbee comments that businesses need to invest meaningfully in people, processes and technology, and “to ensure that you have an active education programme in place to ensure your staff understand the threats and are trained to react appropriately to an attack.”

Firewalls

In the fight against cybercrime, small businesses may place their trust in Firewalls. A firewall is an essential security system which acts as a virtual barrier between your internal network and unknown or untrusted outside traffic. Firewalls are the gatekeepers of your system and control incoming and outgoing traffic according to clearly defined policies.

While the theory is sound, there is a problem. Graham Croock highlights this with his comment to Fin24. “A common but often misunderstood and over-relied on solution is the implementation of firewalls. However, the major pitfall of this so-called ‘trusted’ solution is that firewall configuration is often not aligned with changing cybersecurity policies. In short, the rate of change with regard to cyber-related risk is accelerating rapidly, increasing the security gaps organisations contend with, and leaving them more exposed than ever before.”

The firewall will only be as good as its configuration, which will require current and accurate information on possible threats. A specialist area indeed.

Updated Security Policies

One of the main reasons why small businesses and start-ups succumb to cybercrime is simply because they lack the funds to invest in adequate IT solutions. The field of cybersecurity is fluid and changing at a rapid rate. To employ specialists in this area and ensure that they enjoy ongoing training, can be a prohibitive cost.

Yet a telling article in Fin24 tells us that “The cybercrimes industry is expected cost business up to $6trn (R78trn) by 2021.”

At the very least, SMEs and start-ups need to ensure that they identify and put a plan in place to combat the most common cyber threats. Even the simplest security features will add another layer of protection, especially if they are focused on the right areas.

Consider these as a start:

• Ensure that you have an up-to-date firewall in place
• Ensure that your systems are password protected and regularly backed up
• Implement a company-wide security policy regarding password protocols, file sharing, and internet access.
• Ensure that all anti-virus and anti-spam software is current and active

Cybercrime Solutions for SMEs

Managing a growing business along with staff, admin, and finances are enough to keep even the most OCD business owner on his toes. Adding cybersecurity to the mix is likely enough to give you a migraine.

You may not know it yet, but your friends at Huge Connect have already solved this problem for SMEs across South Africa. Your job is to run your business; our speciality is to keep your businesses running.

We have specific packages tailored to meet the unique demands and budgets of burgeoning businesses. These are designed to keep your data safe, keep your IT systems running at optimum capacity…and allow you to sleep at night.

Contact our team today.