Monthly Archives: October 2023

Is Your Organization Prepared to Respond to a Security Incident?

Security Incident
Cybersecurity, Security, , ,

One cybersecurity incident takes place every 14 seconds. Contrary to common assumptions, hackers are not only attacking big businesses. Everyone is now a target, from multinational corporations to small local businesses. With no discernible attack pattern, it’s hard to tell who the next victim will be. Owners must prepare all organizations with a cyber-attack response in case of a security incident.

Importance of a Security Incident Response Plan

A ready response to a security incident saves you precious time when faced with an online threat. You have already developed the plan. You just need to execute the actions, so there won’t be any need for second-guessing or unnecessary and costly delays.

An incident response plan, also called a data breach response plan,

will prevent further data loss or system damage, minimize downtime, cut financial losses, and help preserve your reputation among clients. Of course, it also helps your business get back on its feet as quickly as possible.

How to Create a Security Incident Response Plan

Creating a security incident response plan is a lengthy process that you should start long before a breach happens. It is not something left for the last minute when you’re in imminent danger. So here are the fundamental steps that you should take.

1. Assemble an incident response team.

Select competent individuals who can immediately take action during a security incident emergency. Make sure everyone is fully aware of their tasks. Enlist external assistance if necessary.

2. Backup your data.

Breaches typically target an organization’s data either to steal it, destroy it, or get unauthorized access for malicious purposes. Whatever happens to your data, you should always have a secure backup to fall back on.

3. Monitor your system.

Vigilant monitoring alerts you of online threats before they escalate. Security Information and Event Management (SIEM) systems and big data analytics can ensure rapid detection to safeguard your system and minimize damage.

4. Prepare contingency plans.

These are the actions, and processes to execute when the security incident crisis starts. These would constitute a large part of your organization’s incident response plan. Here, you must include all the processes needed to shut down the system, contain and assess the damage, and notify customers of the situation.

5. Practice simulations.

Preparing a response differs from carrying out the plans and strategies. Besides educating your employees on what to do in case of a security incident, you must also conduct regular simulations. This process will sharpen their responses and train them to take a calm approach when handling the situation.

6. Check and update regularly.

Cybersecurity threats evolve rapidly. A reliable response strategy today might be worthless in a few months. To keep your security incident response plan relevant and suitable, regularly check it and update variable elements like contact details, processes, and technology as needed.

Boost Your Defenses against Security Incidents

Preparedness to respond to a security incident is vital. However, this is just the tip of the iceberg of your cybersecurity strategy. There are many other ways of boosting your organization’s defenses, such as training your employees regularly and making them aware of the importance of cybersecurity. You can also restrict access to sensitive data, tighten the perimeter of your IT infrastructure, and enforce a strict BYOD policy.

Many recent security issues arise from using personally owned devices for work-related matters. You can mitigate such risks by implementing a comprehensive BYOD policy that outlines specific requirements, restrictions, and sanctions. Not sure how to create a policy from scratch? We have a BYOD policy template right here that you can download for free and customize to match your company’s needs. Contact us now if you need additional help!

The Top 7 Mobile Security Threats to Address in Your BYOD Policy

Mobile Security Threats
Cybersecurity, Data Backup, Security, , , , ,

BYOD or Bring Your Own Device is a modern practice where employees use their personally owned gadgets – smartphones, laptops, tablets, or whatnot – for work. This is opposed to the traditional method of using company-issued equipment exclusively for work stuff which can have mobile security threats.

The BYOD policy has several perks, such as more flexibility in remote work, a healthier balance between work and personal life, and reduced equipment expenses. However, some challenges arise from this practice, particularly in terms of business mobile security threats.

When employees use the same device for all their dealings, this could create several mobile security threats that the company must address in the BYOD policy. Here are seven of the top threats and our recommended solutions.

Mobile Security Threats – Device Theft

In the event of stolen or lost devices, unknown entities could have unauthorized access to sensitive information stored on the device. To guard against these mobile security threats, there must be a way to delete data from the device remotely.

Malware Infection

Malware can quickly lead to a data breach and security problems. Your company can avoid this if all personally owned devices have reliable, updated antivirus software to guard against malware infection.

Unsecured Wi-Fi

Encryption is necessary for maintaining the confidentiality and security of data, so most work and home networks have this. However, public hotspots are common for mobile security threats. If you need to connect to an uncertain network, use a VPN to guarantee data security.

Mobile Security Threats – Phishing

People are more relaxed when using their mobile phones than when they use a company computer. Because of this, many are prone to becoming victims of phishing attacks. Constant reminders would help instill a natural sense of caution in employees.

Outdated Device

Not all employees are gadget fanatics who would immediately fall in line when the newest iPhone is released. Many would stick to their old gadgets until they fell apart. While we might applaud their frugality, outdated devices can put corporate and personal data at high risk with mobile security threats. You can state in your BYOD policy that there must be a mandatory regular upgrade of all devices employees wish to use for work.

Risky Apps

Personal phones and laptops often contain games or other apps that might not be completely secure. These apps sometimes request permissions that could put your device’s contents at risk. To avoid these risks, the BYOD policy must prohibit the installation and use of these unverified apps.

Encrypted Data

When sending digital correspondence from a work computer, all data is automatically encrypted to keep it confidential. Public hotspots and some home networks might not have sufficiently secure levels of encryption, which will compromise your data. Mandatory use of proper encryption before sending out any business data will help prevent such compromises.

Creating Your BYOD Policy to Prevent Mobile Security Threats

If it is your first time drafting a BYOD policy for your company, it can get intimidating, considering all the issues that need to be addressed. For instance, the mobile threats we have listed above are just some of the potential problems you would have to deal with, and we are sure you would think of more as you go along.

To ensure you do not forget any crucial aspect, we strongly recommend you use the BYOD policy template we have created specifically for this purpose. It is a comprehensive but concise document, including everything from permitted devices and security specifications to restrictions and sanctions. Of course, you can customize it as you see fit by adding or removing items to make it appropriate for your organization’s security goals. Call us now if you need additional help!

Why Cybersecurity Insurance Matters

Cybersecurity Insurance
Cybersecurity, Security, Technology, , , , ,

As businesses move forward into a digital environment, cybersecurity insurance becomes even more crucial as online threats grow more advanced. Before, hackers only targeted large, high-revenue corporations since they had the money and the valuable information. But statistics show that over 40% of recent cyberattacks target small businesses. But what’s even more alarming is that only 14% of these small businesses are prepared for such an attack.

Cybersecurity Insurance is a Wise and Necessary Investment

Organizations are already taking more stringent measures to protect their businesses against online threats. Despite these efforts, malware and ransomware can still make their way into your system, and data breaches can still happen. To protect your business from the many ramifications of these attacks, you must invest in a good cybersecurity insurance plan.

While cybersecurity insurance cannot prevent or undo cybercrime, there are many ways that it can help your business recover in case an online attack takes place.

Reduce Financial Setbacks

Dealing with the consequences of a cyberattack can be expensive. Depending on the severity of the attack, it can set your business back by millions of dollars! You will pay for legal services, IT support, damage control, and more. A comprehensive plan can cover all these expenses and much more.

Cover Downtime Losses

Getting your business back on its feet can take a long time, again depending on the gravity of the situation. During rebuilding or while operations are on hold, insurance can tide you over until your business is fully recovered.

Fill the Gap Liability Insurance

When purchasing a general liability insurance plan, many business owners assume that this covers cyberattacks, which is typically not the case. Standard policies might offer coverage to some extent, but it is rarely enough. A separate cybersecurity insurance policy will give you the widest possible coverage to protect your business.

Recovery Assistance

Many cybersecurity insurance plans today offer so much more than just financial help. Many providers offer a complete recovery package that includes legal services, PR damage control, and IT forensics. You can get all these services from separate providers, but why stress yourself when you can get them all in one place?

Competitive Rates for Robust Security

Insurance carriers usually offer very competitive rates to clients with a robust cybersecurity system in place. This is to encourage companies to prioritize cybersecurity and implement better strategies. If you wish to avail discounted rates, it would be a good idea to level up your protection as early as now.

Best Practices for Improving Cybersecurity Insurance

There are many ways to boost cybersecurity in the workplace, as many of us know by now. For starters, you must train your employees regularly, as lack of awareness still ranks at the top of how hackers break into systems. You must also secure your networks, constantly update your anti-malware tools, and implement multi-factor authentication.

Bring Your Own Device Policy

Another excellent way to improve your company’s cybersecurity is to implement a sound Bring Your Own Device or BYOD policy in the workplace. The policy should clearly define the responsibilities of the company and the employee when using their personally owned devices to access company data and other uses of the device within the workplace.

To guarantee that you include all the vital elements in your company’s BYOD policy, you can use our BYOD Policy template, which you can download by clicking right here. You can customize it any way you need to make it align with your organization’s operations and goals.

Final Thoughts on Cybersecurity Insurance

A business needs to do everything necessary to boost cybersecurity. But no matter how strong your defenses might be, one must never be complacent. Investing in a good cybersecurity insurance plan is one of the best things you can do to protect your business. Call us now so we can help you with any questions you may have about cybersecurity insurance.