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As cyberattacks become more common, it is increasingly important for businesses to understand their cyberweaknesses and plan for breaches. To assist companies with cybersecurity best practices, the U.S. Securities and Exchange Commission released new guidelines in April. The strategies they suggest involve regular security self-checks, creating response plans, and training employees on cybersecurity policies and procedures.
The SEC suggested that businesses analyze their data and determine which information is the most likely target for a cyberattack based on sensitivity and ease of access. Once the most at-risk information is identified, the company should figure out what type of technology the data uses and the internal and external threats to that specific technology. For example, customer credit card records are highly targeted information. If a company stores those particular files on a cloud-based server, they need to address that server’s potential security weaknesses and install preventive protection.
Create prevention, detection and response strategies to threats
Once the potential threats are recognized, businesses should effectuate plans that will eliminate the risk of cyberattacks. Examples of smart prevention tactics include a strict control on the access to secure data via passwords and hierarchy-restricted access, applying firewalls and encryption software, and limiting the use of external media and in-house technology that leaves the building. Even with all these measures in place, companies should employ individuals to monitor information and servers for signs of an attack. They should also develop a recovery plan in the event of a breach.
Implement written policies and procedures training
An important step to securing data and company information is to provide proper cybersecurity training for employees. By including policies regarding cybersafety in the company handbook, businesses can eliminate some avoidable insider threats. The appointment of a chief information security officer is another essential element to a creating a cybersecure company. Among other things, the CISO can assist with things like teaching workers about different types of cyberthreats and how to avoid them, and reminding them to change their passwords frequently. Conducting regular cybersecurity training can also make businesses more secure in the digital realm.
By following the SEC’s suggestions, a company’s risk of cyberattack decreases dramatically. However, the threat is never completely diminished. Businesses should consider hiring people with a background in cybersecurity to assist them in their transition to a digitally secure workplace. To learn more about cyberlaw trends, explore The National Cybersecurity Institute’s blog. For more information on how to earn a degree in cybersecurity, visit NCI’s website today.