So you’re a ‘new kid on the block’ in the big business world. Just getting started with the setting up of your infrastructure and organizing the systems and processes? Of course cybersecurity is the least of your concerns at the moment. Why would the hackers target you, right? Wrong.
You’re just as vulnerable as any other business empire. A lesser known brand or not many financial resources are no reason for the hackers to overlook you. In fact that makes you an easy target because the hackers are aware of your ill-equipped defense strategy for an attack. Make no mistake if you plan to partner a big business or already have them as partners, you could be a weak entry point for the hackers.
What are the risks?
As a startup you’re prone to more risks than just that of your business failing. A single cyberattack can very well paralyze your business. And the recovery period can take a considerably long time.
Ransomware: If you don’t have enough security layers in your network, you run the risk of facing a ransomware attack. In this attack, hackers encrypt all your files and seek a certain ransom amount to decrypt all your data. Either you pay the ransom or lose all your crucial files.
Insider Threat: It is one of the greatest threats that an organization can encounter. An insider threat comes from people within the company such as employees, vendors, former employees, basically any person who has critical information about the company, its network or security systems.
Phishing: Phishing mails typically target the impulse of a person by creating a false panic situation. These mails trick you into believing that your money or crucial personal information is at risk (e.g., email address, bank account, phone number). These mails are meticulously designed, using the same look and feel as that of the original sender. You will spot the difference only when you look carefully. As a responsible company or an entrepreneur you must never act upon such mails impulsively.
BYOD Culture: The Bring-your-own-device culture at work is here to stay and so are the various risks associated with it. The BYOD & Mobile Security 2016 study suggests that, nearly one out of five organizations experienced a security breach through the use of BYOD or corporate-owned mobile devices. These security breaches were primarily driven by malware and malicious WiFi. The report also highlights that security threats to BYOD impose heavy burdens on organizations’ IT resources.
Distributed-Denial-of-Service (DDoS) Attacks: If your business is driven by your online presence, you need to beware of this one! A DDoS attack can leave your website inaccessible. The attacker sends a huge amount of traffic to your website till the point your network is unable to take any further load and crashes. This attack can disrupt the service to your business and may have serious consequences. Your customers might notice this and do we need to tell you how negative publicity spreads on social media?
What can you do?
These are just a few of the many security threats that can attack a startup. Make sure cybersecurity is an integral part of your business plan and is not perceived as an expense. Adopting a ‘Back up’ policy early on in your business can go a long way in securing your data. Use reputed and trusted cloud services to secure your data (email, accounts, CRM, back up). Train your employees to browse or use the internet and other office facilities responsibly. Educate them on how to spot phishing mails, malware infected advertisements and other cyber threats. Ensure you have enabled auto-updates for any software that your employees use.
Invest in a comprehensive security solution which guarantees protection against Internet attacks and intrusion. Take a look at the products offered by Seqrite, one of the most trusted brands in IT security solutions for enterprises.
Lastly, as a startup you must have a ready preparedness for any situation. Having an incident response plan is definitely a good idea and make sure it is updated periodically. The incident response team can help minimize the damage and reduce the recovery time and cost. As businesses are increasingly going digital, cyberattacks are also becoming more rampant than ever before. Contrary to popular belief cybersecurity won’t cost you a large pile of money but a cyberattack definitely will. The choice is yours.