Three Ways to Improve Cybersecurity for Your Business
In today’s business landscape, technology evolves faster than ever, but one thing remains constant: the need for businesses to stay ahead of cyber threats.
The U.S. Chamber of Commerce’s Q1 2024 Small Business Index shows 60% of small businesses consider threats like phishing, malware and ransomware their top concern.
By anticipating these risks, training your team and putting clear plans in place, you can take important steps toward protecting your business, your customers and your reputation before threats materialize.
Here are three steps that you can implement today.
#1: Conduct a Risk Assessment
To get started, determine which parts of your organization to assess (e.g., customer records, finances, etc.). Next, conduct an audit of all of your critical assets, including hardware, software and other proprietary information. Classify them based on how sensitive — and important to your operations — each is.
Then, identify any potential risks or vulnerabilities. Is sensitive personal and financial information properly encrypted, for example? How does your organization manage access to this data? Is there high-value or confidential information hosted on unsecure networks? Are any systems reliant on outdated hardware? Finally, evaluate the potential impact of these risks and use these insights to prioritize which threats to protect against first.
#2: Train and Empower Your Employees to Recognize Threats
Once you’ve identified and prioritized potential risks, the next step is to ensure your entire team is prepared. Train employees to recognize common cybersecurity scams and implement best practices for reporting privacy and security concerns, including:
- Using unique passwords and multi-factor authentication to secure access to systems.
- Reporting suspicious emails or security concerns to the appropriate team members as soon as possible.
- Protecting their Wi-Fi with a VPN (when on public wi-fi) and a strong password (when at home).
There are a wide range of cybersecurity training programs that can guide employees through best practices and teach them how to respond to potential issues. If you’re looking for a free resource, the Cybersecurity & Infrastructure Security Agency offers online courses for a variety of experience levels.
#3: Stay Up to Date
As cyber threats evolve, staying proactive is key to protecting your sensitive business information. Once you’ve established cybersecurity policies for your business, build on the strong foundation you’ve set by monitoring new developments and updating your cybersecurity measures as needed (e.g., whenever you introduce new platforms and software). Regularly monitor account permissions and passwords to be sure only those who need access have it, and back up critical data to protect against ransomware attacks.
Several resources can help you stay on top of the latest privacy and security news. The Bureau of Consumer Protection Business Center regularly shares updates on privacy threats to businesses and recommended best practices.
We’re Here to Help!
When it comes to fraud, we’re working right alongside you to keep your assets and information safe. At Park National Bank, we use a range of security tools including encryption, secure password authentication and extensive fraud protection resources to guard customers’ information.
Whether you use checks or electronic transactions, our fraud protection tools are here for you. Positive Pay allows you to view images of checks before they clear, while ACH Debit Block automatically flags transactions for your approval if they don’t meet the authorization rules you set.
If you’re looking for a partner who can support you and your business as you work towards a more secure future, Park National Bank is here to help. Reach out today to learn more.