The Importance of Cybersecurity
What is cybersecurity?
Introducing Cybersecurity into your organization is a way individuals and businesses reduce the risk of cyber-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. Cybersecurity embodies a set of systems, processes, and actions and its core function is to protect businesses from digital attacks. We all use smartphones, laptops, tablets and computers, and we access multiple services online at home and at work and we need to protect them from theft or damage.
To reduce these cyber threats, learn more about how to protect your organization’s data, assets, networks, programs and your reputation from digital attacks. Introducing cybersecurity can protect your data and systems.
Why does cyber security matter for my business?
We all live in an increasingly interconnected world, and this has had many positive effects enabling businesses to collect and share more information, reach new customers and innovate. It has also though, led to a rise of criminal activities that profit from stealing customer data and spying on business practices.
Small businesses can often be victims of cyber-attacks, putting their assets, data, information, and technology equipment at risk. Investing in sound cybersecurity systems can prevent you from suffering financial losses and corporate reputation damage.
How cyber threats could affect business?
Some examples of cyber threats that may affect your business.
- Phishing: This 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.
- Malware: This 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.
- Ransomware: This 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.
- 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.
- Insider threats: These threats are performed by current or former employees, business contractors or other associates who seek to access critical business data for illicit purposes.
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 cybersecurity 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 cybersecurity goals and strategies, as well as help you to develop a cybersecurity plan at your business.
Links to Supporting Information
Cyber Research Institute Roadmap A guide to being cyber ready.
Cyber Research Institute Cyber Readiness Program – Cybersecurity Awareness Workforce Training This program guides SMEs (Small and Medium Enterprises) to become cyber against cyber threats.
GCA (Global Cyber Alliance) Cybersecurity Training Small Business and Know What You Have – GCA Cybersecurity Toolkit | Tools and Resources to Improve Your Cyber Defenses
The Global Cyber Alliance (GCA) offers a cybersecurity toolkit designed for small businesses and online training courses.
US Small Business Administration Strengthen your cybersecurity
Government of Canada Cyber Secure Canada offers an SME-targeted certification scheme.