Does your organization do anything to prevent cyber attacks?
The FBI's Internet Crime Complaint Center (IC3) received 467,361 complaints in 2019 and recorded more than $ 3.5 billion in losses. Individual corporate email compromise programs accounted for more than $ 1.7 billion in losses. Ransomware has been another growing threat – IC3 received 2047 ransomware complaints with adjusted losses of $ 8.9 million in 2019 and attacks have become even more expensive and sophisticated by 2020.
If you do not do everything to protect your business, It is only a matter of time before a cyberattack targets your business. October is National Cybersecurity Awareness Month and this year's theme is "Do your part. #BeCyberSmart."
Are your systems secure?
Your organization probably uses many computers and smart devices connected via a network. This system is just as powerful. as the weakest link.
- Does everyone in the organization use strong, unique passwords and two-factor authentication?
- Is sensitive data encrypted?
- Are all operating systems and programs kept up to date with the latest security updates installed? devices and perform regular scans?
- Is the Wi-Fi network secured with a strong router password and network encryption?
- Do you have secure backups of all important information?
- Does all security measures apply to employee-owned devices used for work, smart devices and remote work arrangements?
- Has the system been inspected by a cybersecurity staff?
Are your processes safe?
A secure computer system is a strong defense against cyber attacks, but it's not just about technology. You must also consider the human element. Some cyberattacks, including email compromise and phishing, work by tricking individuals into revealing sensitive information, making fake bank transfers or diverting wages.
- Have all workers received training in cybersecurity? Employees of all departments – not just the IT department – should know how to keep their computer safe, how to avoid clicking on suspicious links and how to avoid fake emails and text messages that try to mimic a legitimate source.
- Are there strong policies for portable devices? Portable devices, such as laptops and flash drives, may be lost or stolen. Other security issues can occur when employees connect to unsafe Wi-Fi networks in cafes or other public places.
- Do you have a procedure to verify all requests for bank transfers, salary changes or sensitive information? Frauds often involve suppliers, customers, managers or employees making inquiries, and the email addresses used may be suspended. with just one letter. Take steps to avoid these schedules, such as flagging external emails and requiring verification for all sensitive requests.
Is your company insured enough?
This year's transition to remote work arrangements has increased cyber exposures for most companies. Do you know what you would do if everyone in your company shut down your systems until you paid a ransom? Do you know if you have coverage for a data breach event? These are important questions to keep in mind now. Contact your BNC Insurance Advisor for a review of cyber liability.