What is cyber security?

Cyber security embodies a set of systems, processes and actions that protect businesses from digital attacks. It is also known as information technology security or electronic information security. Using technology and digital platforms for commercial activities exposes companies to cybercrime like phishing, malware, or data and identity theft. To counteract these cyber threats, training and protocol cyber security can protect your digital networks, data and systems. Visit Cisco and Kaspersky for more.

Why does cyber security matter for my business?

An increasingly interconnected world through digital networks has enabled businesses to collect and share more information to reach new customers and innovate. But it has also led to a rise of criminal activities that profit from steeling customer data and spying on business practices. In 2019, a report found that about 7.9 billion records were exposed by data breaches, an increase of 112% from 2018. Small businesses are also often security breach victims, representing more than 40% of attacks in 2019. As cyber threats can put your assets, data, information and technology equipment at risk, investing in sound cyber security systems can prevent you from suffering financial losses and corporate reputation damages. For more, visit Kapersky, We Live Security and Data Security Guide.

What are some cyber threats that could affect my business?

Some examples of cyber threats that may affect your business are explained in Expert Insights.

• Phishing: is a social engineering tactic that lures individuals into providing sensitive data by offering fake rewards. Through this tactic, criminals often target personally identifiable information, banking and credit card details, and passwords Learn more.
• Malware: Consists of malicious software that comes from website downloads, spam emails and connection to other machines or devices. Hackers use malware to gain access to networks and steal or destroy data on computers. Learn more from McAfee.
• Ransomware: Is a form of malware that encrypts business files making them no longer accessible. Criminals use it to demand a ransom in exchange for unlocking the data targeted. Visit the CSO site for more.

• Weak passwords: Passwords are weak when humans or machines can easily identify them. Criminals that correctly identify passwords have easy access to business accounts that store confidential and sensitive data. Learn more at Intego.
• Insider threats: Performed by current or former employees, business contractors or other associates that seek to access critical business data for illicit purposes. Learn more at InterGuard.

How can I protect my business against cyber risks?

Protecting your business from cyber risks can enable you to counteract criminal activity and keep pace with emerging trends in data privacy. You can start planning on cyber security strategies by identifying systems, data and users that are essential for your business operations. This mapping exercise will highlight vulnerability points that can be the subject of your cyber security goals and strategies as well as help you to develop a cybersecurity plan at your business. Visit the Cyber Readiness Institute.

Resources on cyber security

Some institutions offer courses that can help you to design and implement cyber security strategies.

• Cyber Readiness Program: Guides SMEs to become cyber ready and build resilience and strengths against cyber threats. Visit the Cyber Research Institute.
• ITU Academy: The International Telecommunication Union offers a variety of courses on cyber security aspects Visit the ITU Academy.
• Course on cyber security for small businesses: The U.S. Small Business Agency provides a course with a holistic content on steps and actions that you can consider for starting a cyber security strategy. Visit the SBA.