In our world today, personal and business information is constantly at risk of being stolen or compromised. Companies, especially small ones, often fall victim to cybercrime due to a lack of encryption and inadequate cybersecurity practices.
Cybercriminals are always looking for new ways to bypass security measures, and when they do, businesses are left scrambling to find solutions. A few years ago, only large corporations faced the challenge of protecting their data. Today, even small companies are targeted by cybercrime.
With this, it’s crucial to develop a basic plan of action to follow if you ever experience a cyber-attack. This way, you can be prepared if your business does suffer a data security breach.
Understanding the Threat of Cyber Attacks
Many people often underestimate cyber-attacks. They believe that as long as they steer clear of questionable websites and avoid downloading suspicious files, their personal information will remain safe.
This is not true at all. Cybercriminals use various techniques to steal data from unwitting victims, and if your company doesn’t have cyber liability insurance in place, you could be in big trouble.
Cybercriminals have a wide range of tactics that can be used to compromise your data, and here are the most common ones:
- Phishing – Identity theft occurs when hackers attempt to get sensitive information such as passwords, usernames, and credit card details (and, in certain cases, money) by impersonating a trustworthy institution in an electronic communication.
- Hacking – Breaking into private networks and/or computers to steal, change or destroy large volumes of data. It can cause severe disruption to regular business activities if security measures aren’t applied effectively
- Distributed Denial-of-Service Attack (DDoS) – an attack aimed at disrupting or stopping the regular business activities of a target. It often involves overloading servers with too many requests, usually via a botnet. This can result in several applications becoming unresponsive or even crashing.
Small companies are often targeted because, unlike large corporations, they don’t have the resources to implement an advanced network security system. But that doesn’t mean that you should just accept your fate.
When your business suffers any of these cyber-attacks, you can be dealing with all sorts of problems such as client data being compromised, suspension of operation due to a service disruption, and reputation damage.
Fortunately, you don’t need to panic. By understanding the nature of cyber-attacks, you can create a plan that will help your business deal with any eventuality.
How to Respond to a Cyber Attack
Each company has different approaches when dealing with a cyberattack, but there are some helpful guidelines that you should follow to guarantee the safety of your business.
File a Police Report
The first and foremost thing that you need to do is file a police report. This will document the incident and serve as proof in case the cyber-attack leads to any legal action. You should provide as much information as possible, including the time of the attack, data that was compromised, customer information that was stolen, etc.
Contact a Data Security Specialist
Once you’ve filed a police report, contact a data security specialist. These people will help you check the extent of the damage and outline the different courses of action that your company can take to ensure that it doesn’t suffer any more losses.
Experts will usually:
- Determine what information or data was stolen/breached
- Check the affected parties and accounts
- Secure affected hardware devices and software programs
- Update passwords and other security credentials
- Secure your company website from future attacks
Prepare to Notify the Affected Parties
When it comes to cybercrimes, you must never leave the affected parties in the dark. You’ll need to be completely transparent and notify them about the problem. If any of their credentials, information, or money was compromised in the attack, they must be informed right away.
Be honest about the situation and be sure to tell them of the steps you’re taking to solve the matter. However, ensure you don’t reveal any sensitive information about the ongoing investigation since this could hamper the police investigation and lead to further problems.
Implement Preventive Measures
The most important thing you can do to protect your company from future cyber-attacks is to implement preventive measures.
There are many things that you need to consider, such as:
- Implementing stronger password controls and two-step authentication for all your online accounts and devices
- Updating software programs and browser settings regularly
- Using a strong antivirus program
- Periodically checking for hardware failures or system malfunctions
- Having an IT professional check the current security state of your systems regularly
- Ensuring that employees receive regular cybersecurity training
About Rodrian
Rodrian Insurance, Affiliate of Robertson Ryan Insurance specializes in giving you insurance solutions that perfectly match your business and personal life. We provide insurance options that offer excellent coverage while remaining within your budget, based on a thorough understanding and assessment of your needs, circumstances, and financial capability. Find out more about how Rodrian Insurance, Affiliate of Robertson Ryan Insurance can fulfill your insurance needs. Call or text us at 262-781-4750.or email us at info@rodrian.com.
