Your business is never too small to consider cybersecurity. In fact, start-ups and SMBs remain the silent majority when it comes to cyberattacks. About 43 per cent of all cyberattacks target start-ups and small businesses. Here are the most pressing cybersecurity risks that every start-up entrepreneur should be worried about in 2020.
Ransomware.
In a ransomware attack, hackers use technology to encrypt your data until you pay a ransom. Ransomware attacks are increasingly becoming common, mostly targeting small businesses and young start-ups.
Phishing.
In a phishing attack, hackers use fake digital messages to trick victims into giving them access to sensitive information. Victims can easily end up giving attackers access to accounts, documents, or important internal information. Account Takeover Fraud Detection is a security measure that uses machine learning and behavioural analysis to prevent account takeover attacks.
Data breach.
Data breaches refer to security incidents where information is accessed without authorization. These attacks target digital data, documents, and user information. A data breach can be intentional or unintentional.
Why do hackers target start-ups? Most start-ups don’t have robust cybersecurity infrastructure, which makes them an easy target. Not to worry, though. There are steps as explained by Hazim Gaber that start-up entrepreneurs can take to improve IT security. These include:
VPN.
A virtual private network (VPN) creates a private network from a public internet connection ensuring online privacy and anonymity. It should be a part of your cybersecurity toolkit. Secure the network with a VPN to defend against DDoS attacks, malware, snooping, and a wide range of other online threats.
See this NordVPN vs ExpressVPN comparison article. They are the two most popular VPNs right now
Antivirus.
Use antivirus to protect your system from viruses and malware. Malware may include viruses, trojans, spyware, worms, etc. Antivirus software is essential to cybersecurity as it helps you protect your start-up’s data from hackers and other online threats.
Backup.
A comprehensive backup strategy is a vital part of a start-up’s cybersecurity safety net. Backing up your mission-critical data ensures that it’s available for restore in the event of a breach or a ransomware attack. With a backup, you can always start afresh.
Risk assessment.
A risk assessment is a comprehensive audit of your system. Assess risks and vulnerabilities to find possible entry points. Assessing risks and vulnerabilities helps you know where your business is most vulnerable which, in turn, helps you patch these weaknesses and protect your company data.
Most start-ups and SMBs don’t have strong IT security, which makes them an easy target for cyberattacks. Between client meetings, finding customers, and getting the right product for the market, start-up entrepreneurs are often too swamped to even think about cybersecurity. However, these businesses need to adopt a cybersecurity strategy if they are to survive.