Cybercrime and Protecting Small Businesses

Some security experts predict that cybercrime profit will exceed 6 trillion dollars annually by 2021. Surprisingly, small businesses will be the primary target.

So, how can the difficult job of protecting small businesses from cybercrime be accomplished? Let’s take a look.

What Makes Small Businesses So Vulnerable?

Small and medium-sized businesses (SMBs) are more susceptible to cybercrime attacks because they simply do not make use of the strength of security they need.

Sometimes resources are thin and a cheaper alternative seems appealing or adequate.

By the same token, SMBs generally don’t have a dedicated security expert that can adapt technology to threats that are constantly evolving.

[Related: The Best Encrypted Email for Your Business]

Your Employees Are Your Biggest Threat

That’s right. Not that you have unintentionally hired some bad actors, but employees commonly inadvertently compromise security.

From clicking on compromised emails, falling for impersonation scams, or sending a sensitive file in a less than secure manner—employees create vulnerabilities.

The best way to neutralize these unintentional security threats is to train your employees to recognize them. 

Even better, employees should know to alert your security expert to potential threats.

Another tactic is requiring employees to use secure means of file transfer and online-collaboration.

Hand in hand with this, limit the access employees have to certain data. The fewer people who have access to sensitive information, the better.

[Related: Is Dropbox Really Secure for Your Business?]

Wholesale Changes that Work

First, get a VPN to protect your servers when employees access them remotely. The ways in which your employees access your servers when out of the office often compromise the security of the whole system.

Therefore, using a VPN and multi-factor authentication can ramp up your defenses.

Second, encrypt any mobile devices that store your organization’s data.

Laptops can be a giant security risk—a stolen laptop can either big a huge problem, or if encrypted, simply a matter of being replaced. A compromised mobile device can be an easy target for cybercrime.

Best Practices for Protecting Small Businesses from Cybercrime

1. Train employees to recognize potential scams, alert security team members to possible threats, how to execute policies regarding cybersecurity, and conduct themselves safely online, including by using strong password techniques. They should also know what to do if something goes wrong.
2. Have your security team keep tabs on your network for potential weakness, patterns of access, and any suspicious irregularities.
3. Create security policies that are strictly enforced. These policies need to both protect your clients and your business. Moreover, they should comply with any regulatory requirements, if not exceed them. Whatever your industry is, make sure that you are not skimping on any security for your clients/customers.
4. Limit access and enforce perimeters. Each employee should have only the access required of their job.  All traffic on your network needs to be screened for viruses and other malicious content.

Running an SMB can be extremely rewarding. Protect your livelihood by taking reasonable and required measures to prevent cybercriminals from ruining your hard work.

Preventing cybercrime and protecting small businesses is one of the most important goals of Trustwire. Enable your employees to communicate, transfer, and store documents safely today.