With cyber attacks a growing threat for businesses of all sizes, it might be time for you to start thinking about protecting your business from the risk of becoming the next target. Even if you do take precautions, it can’t hurt to implement more risk-reducing strategies to stay ahead of the game.
A single cyber attack can be devastating to a business — your client relationship reputation could be damaged, depending on how you handle the attack, and financially it could cost you in the tens of thousands of pounds in fines as per the UK GDPR legislation.
Keep software up to date
Ensure that all software used by your business, including operating systems, applications, and security software, is updated regularly to patch up any security vulnerabilities.
Use strong passwords
It seems pretty simple, but you would be surprised at the simplicity of people choosing their child’s name or date of birth as a password. Enforce the use of strong passwords for all accounts and systems used by your business.
Passwords should be complex and unique, and employees should be trained not to share passwords or use the same password for multiple accounts.
Educate employees about common cyber threats and how to avoid them. Provide regular training on safe internet practices, such as avoiding suspicious emails, not clicking unknown links, and reporting any suspicious activity.
Implement multi-factor authentication
This will add an extra layer of security to accounts by requiring users to provide two forms of identification such as a password and a one-time code sent to a mobile device.
Use firewalls, antivirus software and other security measures to secure your business’s network against unauthorised access. These measures will monitor and control incoming and outgoing network traffic based on a set of predetermined security rules. It acts as a barrier between an internal network and the internet or other external networks.
They can also be configured to log and report on network activity, providing valuable insights into potential security threats and enabling network administrators to take proactive measures to prevent attacks.
Backup data regularly
Regularly back up important business data to secure offsite storage locations to ensure that data can be restored in the event of a cyber attack.
Develop an incident response plan
Have a plan in place for responding to a cyber attack, including steps for containing the attack, notifying the relevant parties, and restoring normal operations.
Look at getting cybersecurity insurance
Cybersecurity insurance policies provide coverage for a range of expenses that can result from a cyber attack. The policy is designed to help businesses and organisations mitigate the costly financial losses that come with cyber attacks and data breaches.
What if I am a victim of a data breach?
If you are a customer who has had their data stolen from a business, you may be eligible for compensation. Businesses that do not secure their systems enough are at a high risk of having a cyber attack launched against then, and their negligence means your data has fallen into the wrong hands leaving you at risk of being a victim of fraudulent activity.
You do not have to make a court claim to obtain compensation – the organisation may agree to pay you. However, if they do not agree to pay, your next step would be to make a claim in court. The court would decide your case on whether or not the organisation would have to pay you compensation.
This is where we step in.
Court proceedings can be costly and without the correct legal advice, your chances of success could be lower than with legal advice. Barings Law is currently taking on multiple data breach claims against organisations that have been hacked, and even sold data to third-party companies.
If your data has been stolen or sold, we will act on your behalf on a no-win no-fee basis.
All you have to do is submit a quick 2-minute form by following this link.
Once our legal experts have the information they need from you, they will be in contact to get the ball rolling.
It’s as simple as that, and if you are still unsure, you can view our reviews from clients who have had successful data breach claims with us.