The world continues to be driven by technological advances that push businesses into a position where the only option to move forward is with a digital solution. With the outbreak of COVID-19, businesses have been forced to manage the consequences that come from employees working remotely in an environment that could lead to IT systems and procedures being far more vulnerable to attack than they would in an office setting. With this in mind, now more than ever, business owners are being urged to beware of cyber scammers preying on COVID-19 fears in the near future.
With a 600% rise in malicious emails during the pandemic, scammers are more clever than ever with spam emails headed with titles such as ‘Important COVID-19 Updates’ and even going as far as setting up fake stores to sell PPE to unsuspecting customers that may or may not actually arrive. More elaborate and realistic schemes are becoming frequent and it’s crucial for employers to ensure their employees are up-to-date with the latest information on how to identify fraudulent or dubious emails and not clicking links or opening attachments to prevent a cyber breach.
Thankfully, there are ways to avoid mishaps that could turn into more serious problems and ensuring your business runs smoothly and uninterrupted:
Use Strong Passwords
One of the easiest ways to keep cybercriminals out of your life is by staying on top of your system passwords. Using tough passwords and updating them regularly as well as ensuring employees are aware of the ramifications of password sharing, are all easy-to-implement tactics to combat an attack. Limiting access to various types of business information can also soften the blow if your system gets compromised by adding additional passwords and encryption.
Disaster Recovery Plan
Regardless of your business size, losing your data is at the top of the list of things that could be disastrous. In the unfortunate event of a cyber-attack, having a plan for what to do next could be a real lifesaver. Asking your IT team if your data is backed up, how often this happens, and possibly the most important of all, how long can the business actually run without having access to that data, will help you to devise a comprehensive plan and allow you to be fully prepared in case of a breach.
Get Cyber Insurance
Cyber insurance will cover your business for stolen data, disabled software being held at ransom, stolen customer data, and plenty more. As opposed to having to foot the bill if you are relying solely on your existing software security, this type of insurance gives you faith that you will be in safe hands should something go wrong.
Updating IT Systems & Software
As hackers become more sophisticated and cunning, so too do their techniques and threats. Keeping your anti-virus software and operating systems up to date is a critical part of staying one step ahead of people looking to take advantage of your data. Maintain regular communication with your IT department to give yourself the best opportunity to create a plan and manage ongoing threats that arise.
Your business data is your responsibility as a business owner and it’s imperative that protecting it is a top priority. The team at Allsafe Insurance Brokers is here to make the process seamless and easy when it comes to cyber insurance and how you can make it work for your business; reach out today!