Cybersecurity and Risk: Tips for businesses of all sizes

As National Cybersecurity Awareness Month (NCSAM) continues, it is important to remember that companies of all sizes should look at cyber risk through an organizational lens. A cross-functional team representing IT, security, risk management and leadership is ideal to help mitigate your exposure to cybercrime and keep your company’s data safe.

So, what if your business is on the smaller side and you don’t have the luxury of having such dedicated resources like a customer information security officer, a chief risk officer or a chief information officer? If your business is small or mid-sized, does that mean you’re less likely to be targeted by cyber criminals? Unfortunately, the answer is no.

A Forbes article from early 2019 indicated that 58 percent of cybercrime victims were small businesses, or those with fewer than 250 employees. And attacks, such as those that have made headlines recently using ransomware, are unlikely to abate anytime soon – a CyberCrime Magazine piece suggests that the cost of damages resulting from cyberattacks could reach $6 trillion by 2021. When you think about it, small businesses actually make ideal targets, precisely because they most likely don’t have security resources available to fully protect their environments, and if they are lacking a strong backup or disaster recovery plan, they’re more likely to pay to get their data back.

Regardless of your size or internal resources, there are some simple steps you can take to elevate the cybersecurity discussion and put systems and tools in place to mitigate your risk. Enable antivirus software, utilize firewalls, have adequate backup solutions, and ensure you are utilizing data protection and disaster recovery services.

For more information about cloud governance and risk, check out our recent blog and contact us to up your security game against ransomware and other cyberattacks. Our experts are trained to detect vulnerabilities in your environment in all aspects, including people, processes and technology. To learn more, contact us or call us today at 877-740-5028.