Page 23 - Cyber Warnings

Improve Company Cyber Security While Staying on Budget

Cyber security is a critical issue for any business owner, and modern businesses face an ever-
evolving threat when it comes to keeping themselves and their customers protected. In fact,
studies project that cybercrime could cost businesses a staggering two trillion dollars by the
year 2019. It's become a digital epidemic, and businesses that aren't properly prepared leave
themselves open to dire consequences. Fortunately, you don't need the million-dollar budget of
an international corporation in order to stay protected. Implementing the common-sense tips
below will go a long way toward boosting your business' cyber security no matter your budget.

Stay Ahead of the Threat

The digital space is constantly growing and evolving, and so too are the risks to your business.
For that reason, effective cyber security protection requires sustained watchfulness and effort.
To keep your data protected, you need to stay ahead of the situation by always striving to
identify new threats, seek out both digital and physical vulnerabilities in your security systems
and be aware of the various motivations a hacker might have for targeting your business.
Studies have indicated that it takes an average of four months for companies to identify and fix
security vulnerabilities, which is simply far too long. Keep your company ahead of the curve
through constant vigilance.

Budget Wisely

Quality cyber security can be an expensive proposition, and many small businesses are
tempted to make cuts to their budget in order to save costs. Don't let your company be one of
them. While reducing your security budget may result in a short-term gain, it could put your
business and its customers at tremendous risk. Instead, review your budget and seek ways to
use the money more efficiently rather than cutting it entirely. Another financial consideration is
choosing the right business credit card. Business credit cards are popular targets for criminals,
so be sure to look for cards that offer advanced fraud protection features.

Implement Security Protocols

The greatest vulnerability in your cyber security system likely has nothing to do with your
hardware or software - it's the people who use them. In order to ensure the highest level of
protection, make sure that you've developed and implemented a policy of cyber security best
practices.

By training your employees in security best practices, you'll give them the tools they need to
identify potential threats and respond to them appropriately. Also keep in mind that this needs to
be an ongoing effort, with periodic refreshers to help employees stay up to date on the latest
threats and security measures.

23 Cyber Warnings E-Magazine – March 2017 Edition
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