Whenever you use the Internet whether on mobile or laptop, you get connected with a network. Now, you do not know whether this network is secure or not. In this article, we explain how an entrepreneur can secure his business from cyber-attacks and the Importance of Cyber Security in Business.

Importance of Cyber Security in Business

Overview

Do you know that a cyber-attack can finish your business in just 10 seconds?

Yes, it can.

Let us take some examples of last year’s cyber attacks.

You might have heard that some companies have incurred a loss of billion dollars due to cyber attacks.

You must have also heard about the data loss from the Aadhar card.

There was also news like someone has inserted their debit card in an ATM machine at a particular place and money has been withdrawn through another ATM located at a different place.

These are called cyber security attacks.

Every entrepreneur wants to multiply his revenue from 10x to 20x but they forget that for running a successful business cyber security is necessary.

Learnings

In today’s Internet world, everything is interlinked.

If you are downloading files or app and the network you are using is not secure, then:

• A virus may enter your system and destroy it.
• Your bank account can be hacked and all the money can be withdrawn.
• Even your entire company can shut down by using confidential information of destroying your data.

To help you avoid such cyber attacks and secure your business, we divided this article in the following 3 parts:

1. What is cyber security?
2. What kind of cyber-attacks happened last year in India?
3. How to protect your business from cyber attacks?

Let us discuss these parts in details.

Also Read: Tips for Your Startup Success

#1 What is cyber security?

Cyber security means protection from cyber attacks.

• You are at risk of cyber security, if you are performing any of the following activities:
• You are accessing the internet to transact with customers.
• You are performing online banking.
• You or any of your employees is connected with the internet.
• You are downloading content from an unauthorized source.

Today, each business is connected to the Internet.

For example:

• If you are running a small saree shop, then it is dependent on e-commerce.
• If you are having a small factory, then also you are dependent on the internet through email transactions with your customers, signing up on different websites, online banking etc.

Thus every businessman is at high risk of cyber security.

#2 What kind of cyber-attacks happened last year in India?

As per the India Computer Emergency Response Team (ICERT), a total of 3,13,000 cases of cyber-attack were reported last year in India.

These attacks are categories into 5 major categories, which are as follows:

1. Malicious Attacks:

• Suppose if somebody you already know shares a file with a virus programmed in it, the moment you open/download that file, the virus spreads in your computer system and network.
• As a result, your company gets closed.
• This is a malicious attack.

2. Phishing Attacks:

• Suppose you visit the website of your bank, the look and feel of the website is exactly the same as the original website.
• However, it doesn’t have a lock icon in the URL. The lock icon actually signifies “https”, which means that the internet protocol is secured.
• If you find a website that doesn’t have https or a lock icon, then do not transact on that website because its internet protocol is not secured. It is not safe to transact on such sites.
• This is a phishing attack.

3. Identity Theft:

• It means unauthorized use of someone’s identity, personal information or data.
• You need to be very careful as someone might use your identity and misuse it, which will hamper you business.

For example:
Companies like Facebook provide a tool to lock your profile picture so that nobody could misuse your identity.

4. Spoofing:

• In spoofing, someone pretends to be someone else in order to get access to your system, data or spread the virus in your system.
• If someone calls your customer pretending to be you and says anything bad about your business, then it will hamper your business.

To avoid such situations, you should draft a cyber security policy for your business.

5. Attacks on wireless networks:

• Wireless network or Wi-Fi are vulnerable to a variety of cyber-attacks.
• Never use a public Wi-Fi for an online transaction or transfer of your important data or information.
• Use a strong password for your Wi-Fi whether it is in your office or home.
• Always keep your wireless network or Wi-Fi completely secure by using a very strong password.

This is because if someone accesses your wireless network or Wi-Fi, then he/she can cause a lot of harm to your business by using your data.

#3 How to protect your business from cyber attacks?

7 steps to protect your business from cyber attacks are as follows:

1. Train your team: 

You should train your team on using e-mail or give download on the following points:

• What kind of files should be downloaded?
• What kind of things should be avoided on a company’s network?
• What are the guidelines to use the Internet and the company’s network?

2. Perform a risk audit: 

• Get a cyber security audit done by a good cyber security team.

3. Avoid pirated software:

• Pirated software doesn’t have security patches.
• Using a system with pirated software on public Wi-Fi or other wireless network will lead to data leakage.
• Original software like Windows comes with security patches that secure your system and avoid any data leakages.

4. Deploy anti-virus software:

• Install anti-virus software in every system of your company whether you have a small saree shop or a big IT company.
• Ensure that anti-virus software is updated.
• Ensure that anti-virus software has original keys.

5. Take data backup on the cloud:

• Keep backup of your data on cloud to avoid data loss.
• Use services like Amazon or Google Could to secure your data.

For example:
Google cloud offers 15GB free data space on its cloud. This helps you to:

• Upload any document, file, presentation
• Every employee gets 15GB data so anyone can upload as much as they want.
• Security from viruses as Google is investing to keep your data secure.
• Save your hardware and cyber security costs.

6. Avoid cheap options:

• Most of the small business owners make the mistake of using cheap technology in their business.
• Using cheap software has a risk of failure, which is not good for business.

For example:
When an airplane is in an auto-pilot mode, it flies with the help of software.

In such a case, if companies like Boeing use cheap software in their airplanes to save their cost and the airplanes meet with crash due to the failure of software, then the customers will never prefer to use Boeing’s airplanes.

7. Make a cyber security policy:

• Sit with your entire team and formulate and implement a cyber security policy in your business.
• Ensure effective training of your team with respect to cyber-security.

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