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Tips for Protecting Your Small Business From Cybercrime

Posted on 21st September 2017 by Caunce O'Hara (updated December 2020 by Phil Ainley, Marketing Manager)

When it comes to cybercrime, small companies are often lured into a false sense of security.

When we see news coverage of big companies being targeted, it’s easy to assume that anything smaller wouldn’t have a target on its back. After all, most small companies aren’t holding the secrets of the next episode of Game of Thrones. Unfortunately, small companies are just as much of a target to hackers, particularly when it comes to ransomware attacks.

According to a recent report, 22% of companies hit by ransomware attacks were damaged to the point where they had to cease operations immediately. Fifteen percent of these companies lost revenue as a result. Cyber attacks are on the rise, so it’s important that you take the steps to protect your business…

Review your security plan

Every company, big and small, should have a plan in place outlining the steps to take if there is a security breach. Everyone in the company should be familiar with the procedures so that anyone can action the plan at the first sign something is amiss. Prompt action is often required to prevent a ransomware attack spreading through your network.

Create backups of everything

One of the simplest ways to protect your business against ransomware attacks is to have a backup system in place. Cloud storage is a popular option for small businesses as it’s cost-effective and easy to manage. Cloud backups can often run silently in the background, creating a backup of all your files so you won’t need to change any of your procedures. If you are hit with a ransomware attack, you can simply restore your system to a time before the attack and you won’t lose access to any files.

Add two-step verification

Password protection is essential for a strong company network. Two-step verification will ensure that, if your password protection is ever breached, hackers won’t get very far without the secondary device. This can be used to secure your online banking, email accounts and any other important company accounts.

Keep up-to-date with the risks

Keeping abreast with the changes to the IT security industry might not sound like your perfect afternoon, but keeping up-to-date with the threats can help to protect your business. This also means ensuring that all of your staff receive up-to-date training so they know what to look out for and what to do in an emergency.

Small business insurance can help to protect you against cybercrime attacks. In particular, we offer cyber and crime insurance that can protect against problems that might arise as the result of IT. Click below to start your quote, or call us on 0333 321 1403. If you’d like to share your stories with hackers, ransomware or other IT problems, head to our Facebook page to join the conversation.

 

Caunce O’Hara is a business insurance broker offering protection to freelancers, contractors and small businesses. Insurance is vital to all businesses, especially to start-ups. If you would like a competitive online quotation for your business insurance, please click the green button, it only take a few minutes.

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Author Phil Ainley, Marketing Manager

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