Simple Steps To Protect Your Business Data

29 Mar 2019 | SMB, Cybersecurity, Digitalisation | 5-min read

The internet has revolutionised the way we do business, bringing customers closer than ever before and making it easier to communicate and understand their needs. But there is a downside: the internet is constantly under attack from hackers who will go to great lengths to steal your business data, corrupt your network and disrupt your livelihood.

Cyber security experts say there are a number of basic measures all businesses should take to secure their data. Additionally, they can work with their ICT solution provider to understand how to mitigate cyber risks.

There are many ways hackers try to get hold of your valuable business information. Some of the most common kinds of cyberattacks include:

• Malware
  Literally, malicious software is software which is designed to damage your computer, server or network. It can come in the form of a virus, worm, bot, bug, Trojan horse, ransomware, spyware or adware. Malware is usually introduced via an infected USB flash drive, external hard drive devices, emails or even shared files that are opened on a computer. Some types include:
• Viruses
  A computer virus is designed to replicate itself to spread from one computer to another via infected programs. When you open them, you have activated a virus on your computer and it can steal passwords, corrupt files and spam your contacts to replicate itself.
• Ransomware
  This is a type of malware that restricts access to the affected computer, website or network and demands payment of a ransom before the restriction is lifted.
• Worm
  A similar concept to a virus (replicating itself to spread) but is stand alone and does not require computer a program to infect other computers. They generally move through the computer network.
• Trojan horse
  As the name implies, a Trojan horse is malware that looks like a legitimate file or document supposedly coming from a trusted user. They're spread when a user opens the file.
• Distributed Denial of Service (DDoS)
  DDoS occurs when hackers use multiple compromised systems to concurrently attack your network, making it unreachable by others due to too much web traffic. A DDoS attack is one of the most powerful and harmful weapons on the internet.
• Phishing / Identity theft
  This is where hackers try to fool you by using fake emails pretending to be from legitimate sources (such as your bank, credit card provider, etc.) to steal your information. Hackers can then use that information to impersonate you to access your personal or business accounts to steal money or critical business information.

Cyber security is a major issue for businesses. When your business is hacked and attacked, it can lead to serious financial losses and damage to your reputation that can be hard to win back.

There are things small businesses can do, even on a smaller budget:

• The most basic rule – use antivirus software on all devices that process or store data. It prevents certain types of attacks from the beginning.
• Keep your software up to date to ensure the latest security patches are in place
• Update passwords regularly and make sure they cannot be easily guessed
• Keep firewalls turned on – turning them off to take system shortcuts is not worth the risk
• Avoid connecting business devices to public WiFi – there is potential for hackers to use them to steal information
• Never open a link in an email if you do not recognise the sender.

Apart from these fundamental rules, the most important thing is to understand where your business might be vulnerable, and what you can do to protect it.

That is where Singtel can offer a range of cyber-security solutions which can be tailored to the needs and budget of your business. We can help you understand what level of cyber protection your business needs to stay ahead of the cyber criminals who want to steal information such as credit card numbers and bank data.