Why Entrepreneurs Need To Level Up Their Cyber Security

There was a time when criminals had to follow ordinary theft tactics to make some money. They would cheat tourists, pick pocket money, or rob a store. The biggest criminals took the risk of robbing a bank, and most failed at doing so.

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As time passed, more outlets came up from which criminals could take full advantage of and make money. Performing thefts today is much easier and less risky provided that you have the right skills.

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A criminal, or a hacker, no longer needs to take the risk of visiting stores with a gun stashed in his jacket and scaring the clerk into giving you all the money. Today, hackers don’t even have to leave the comforts of their room to steal money from a person of a business. All he, or she, needs to do is to find loopholes in systems and exploit them to get money or access to important data.

In a world where every ambitious business has got some sort of online presence, hackers can take full advantage of this situation. Be it an ecommerce website, or a social media page, all of these can be hacked if they’re not secured in a proper manner.

Ask any cybersecurity expert and he would tell you that too much convenience can actually prove to be harmful for your online security. While having a presence on the web is important for any growing business, it is also necessary to ensure that this presence only brings profits to your business instead of harm.

Ensuring the security of your business is a challenge that can only be dealt with through proper awareness and execution.

How cybersecurity threats can harm your business

The cyber world is filled with all kinds of dangers and threats. The following are the cyber threats that have the potential to fatally injure any business or organization:

Malware

Malware refers to any software or a program that performs unwanted tasks on a system. The most common form of malware that has been troubling all kinds of businesses is Ransomware. It usually spreads around quickly, infecting every device it comes in contact with. It usually locks or encrypts an infected system, restricting access to any stored files in the device. It then demands a ransom fee, which if paid, unlocks the device.

WannaCry is an example of dangerous malware that infected thousands of computer systems all over the world.

Malware usually infects systems or software that have bugs or loopholes in them. It is designed to exploit these loopholes and perform tasks that the owner never permitted. These unwanted tasks are usually done to harm the system.

DDoS Attacks

DDoS attack is another online threat faced by most online businesses today. Imagine that you have an ecommerce website from where you sell your products online. Much of your revenue depends on the performance of this website.

But what a cybercriminal can do is to push greater traffic to your website, effectively suffocating it and killing its performance. Any website can only withstand a certain amount of traffic. Throwing excessive traffic on the website overloads its servers and kills its performance for the actual users.

Hackers employ bots to throw excessive traffic on a website. The DDoS attack hinders traffic inflow on the page. According to one estimate, a DDoS attack can last between 6-24 hours and cause an estimated £30,000 per hour

How to prevent these threats from happening?

According to a study, more than half of all UK businesses are ill-prepared to deal with cyberattacks. In such a scenario, it is necessary for businesses to take effective measures to deal with cyber threats of these kinds.

It is necessary for businesses to understand and analyze the risks that can affect your businesses and put resolute processes in place. Prevention is better than finding solutions to a problem. Which is why we recommend the following steps to protect your cybersecurity.

  1. Use a VPN
    A VPN helps protect your online communications from outside influences. It is an effective cybersecurity tool that is helpful in keeping you safe and anonymous on the web. While there exist hundreds of VPN services on the web, we recommend a VPN for its amazing cybersecurity features, large global footprint, and affordable pricing.
  2. Make sure that your software and OS are up to date
    As mentioned above, hackers can easily exploit any loopholes present in your system and hack your device. Software developers are always on the lookout for these vulnerabilities, and once found, they release patches to the software. Therefore, it is recommended for you to update your software as soon as possible.
  3. Use DDoS Protection
    DDoS can disrupt online operations for any company. A business VPN service can prove really helpful in this instance. Businesses often lack the resources and infrastructure required to avoid DDoS attacks. Which is why they should take help from secure servers and infrastructure that is available through a business VPN service. You can learn about DDoS protection from here.

Wrapping Up…

Some companies reviews businesses that often fall prey to cyber threats due to carelessness. This is because they avoid following the proper precautionary methods. But if precautions are followed correctly, it can go a long way in ensuring the safety of the business.



About the Author

Ankur Shah
Ankur Shah is the founder of the Value Investing India Report, a leading independent, value oriented journal of the Indian financial markets. Ankur has more than eight years of equity research experience covering emerging markets, with a focus on India and South East Asia. He has worked as both a buy-side investment analyst for a global long/short equity hedge fund and a sell-side analyst for an emerging markets investment bank. Ankur is a graduate of Harvard Business School. You can learn more about his latest views on global markets at the Value Investing India Report. -- He can be emailed at AnkurShah47@gmail.com