How to Master Small Business Cyber Security | Fora Financial Blog
How to Master Small Business Cyber Security
April 10, 2017

How to Master Small Business Cyber Security

Cyber security is a real concern, and should be a top priority for organizations nationwide. As breaches and fraudulent acts occur in the headlines, you should focus your efforts on understanding what cyber security is and how you can protect your business from similar attacks.

Today’s hackers are unfortunately good at what they do, and they are becoming more sophisticated in their tactics. Hackers work full time on studying your business and scanning for any vulnerabilities to see where they can make an attack. Hackers have several common tools that they tailor to execute their cyber-attacks. Often, hackers prey on human errors where someone is inattentive. These mistakes could be clicking on a link to a compromised website, downloading an unsafe file or making another error. It doesn’t matter how powerful your system is; if you don’t know how to use it correctly, you could compromise your business’s cyber security.

In order to properly defend your business against these hackers, you must understand who these hackers could be. In a search to find vulnerabilities, hackers will study the fine details of your business, who is responsible for accounts, different services your business uses and more. Typically, malware gets distributed by phishing or clicking on a link to a compromised website. All hackers need is for one percent of their attempts to succeed, but many more than one percent of the population fall victim to hackers.

Cyber security measures must be taken seriously to defend your organization and keep the hackers out. It is important to implement cyber security procedures that can reduce the probability of human error. As a business owner, you should understand these procedures and their importance, so you can adequately defend your organization against potential cyber-attacks.

To shield your business hackers, think of your business as a castle. Castles are constructed with security in mind, and you should adapt the same mindset when addressing cyber security for your business.

The following castle elements correlate to successful cyber security business practices:

  • Moat –  Provides limitations on applications, such as allowing admin rights or granting certain individuals access to systems.
  • Drawbridge – Password requirements or security measures that must be successfully entered for access into any systems.
  • Four Main Walls – Keeps intruders out that do not have the proper credentials and authority to be accessing your business’s information. The four main walls are:
    1. Single Sign-On (SSO): Limits the access points for entry.
    2. Multi-Factor Authentication (MFA): This combines something you know (such as a password) with something you have, such as a physical token or an electronic message with a security code. MFA makes it harder for hackers to gain entry, since they must have both pieces of information to access information.
    3. Firewall: This is put in place to monitor and block unauthorized users from gaining access to your company’s systems or networks.
    4. IP White Listing: A list of blocked senders that may be spam users trying to make an attack.

If you work remotely, you must take extra precautions when using your home computer or mobile device to access business information. Be aware of the networks you’re connecting to, files you’re opening and links you’re clicking on. You never know where the hacker may be trying to bait you. Ensure that you follow all of your business’s procedures and processes to keep the castle consistently safe from hackers.

For more information about cyber security, check out A Look Into Cyber Security.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Celebrating over 30 years in business, GTreasury’s development and resources are focused entirely on only one TMS application. GTreasury is committed to cyber security standards and helping any global treasury operation illuminate its liquidity.