Four steps to protect your company from cyber crime

Businesses, like individual internet users, are under threat from increasingly sophisticated cyber threats. Criminals are using smarter tactics to exploit their corporate targets. South Africa is ranked sixth in the world’s most affected countries, with an estimated 52 victims per one million users.

Cyber crime can be disastrous to companies, resulting in large financial losses, compromised information and irreparable damage to their reputation. Improving cyber security is highly recommended for large enterprises and SMEs. Here are four actions to protect your company from cyber crime.

1. Ascertain your company’s cyber security needs

Cyber security is a rapidly-changing field and companies can respond appropriately by implementing ways to remain informed and mobilised. The business world has access to an abundance of tools to keep up with the latest threats and trends, which will help you to pinpoint vulnerabilities in your digital architecture.

A dedicated cyber security officer can be tasked with staying abreast of the moving landscape. Their goals will be to provide regular reports and to prioritise the assessment of the current requirements of your business. Look at what resources your company has in place already and what you can budget for, in terms of cyber security protection.

2. Choose the right cyber security tools for your company

There are a number of cyber security tools out there, so it is essential to do your homework before choosing the right one for your business. As a minimum, SMEs should implement email protection and endpoint protection to ensure they are safe against malware, spam, fake URLs and phishing attacks.

Apart from basic email and endpoint protection, large enterprises often need more sophisticated solutions, such as DDoS protection or security information and event management (SIEM) technology. Cloud-based SIEM provides real-time insight into all activity on your IT network.

Synthesising this information into a usable format is a key feature of this security and data analytics tool. SIEM automatically responds to various threats, which eliminates the need for manual monitoring and waiting for security teams to review alerts.

3. Partner with cyber security professionals

While organisations are well-aware of the gravitas of cyber security risks, it is becoming increasingly difficult to counter these attacks without assistance. Managed services can reduce the risk and cost of cyber security solutions for your company.

A cyber security provider will monitor your networks and systems around the clock while leveraging advanced security techniques, like predictive analytics and adaptive risk modelling to prevent advanced threats. It many cases, working with a cyber security provider can be more effective and affordable than doing it in-house.

4. Provide ongoing training for employees

You can have the most advanced security measures in place, but you have to account for human error. If your staff are not aware of what to look out for or how to handle possible suspicious activity, they may be your weakest link and leave your business vulnerable to cyber threats.

Your company’s cyber security officer or external provider should train your employees with a well-developed programme based on the latest cyber security trends. This helps employees gain current and dynamic awareness of cyber threats endangering the organisation’s assets, network and data.

Ensure that your cyber security strategy includes having the appropriate security measures in place. For example, two-factor authentication, so that even if an employee's password is compromised, your digital assets remain protected.

Protect your digital assets from cyber crime

It is prudent to invest in cyber security insurance. This will cover the costs associated with recovering from a cyber attack, like hiring a public relations firm to help repair your reputation, or paying for credit monitoring services for your customers.

Prevention and education are key when it comes to protecting your company from cyber crime. Being responsive to the dangers that cyber crime poses to your business requires making it a top priority to prevent.

SEACOM Business provides companies in South Africa with advanced security solutions from expert leaders in threat management. For more information or to get a quote for our cyber security solutions, email us at marketing@seacom.com or leave us a message.

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