Mitigating Cybersecurity Incidences

If a large or a small firm is dependent on the internet, cyber security becomes very crucial. A breach affects business operations leading to loss of revenue and significantly, loss of customers' trust.

The Central Bank of Bangladesh Attack, the Payroll Company Breach, and Power Grid Attack in Ukraine are some recent attacks that have reiterated the need to secure business against these threats. According to the Cisco 2017 Annual Cybersecurity Report, these attacks led to 44 percent security alerts are not being interrogated, 49 percent had to experience public scrutiny, 22 percent of businesses lost customers, and 29 percent lost revenue.

Hence, cybersecurity is essential to safeguard businesses operations. Best software and web applications are essential to ensure businesses run unhindered, but without security, businesses will be exposed to threats.

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Here is what businesses need to do:

• Businesses have to be proactive and build resilience- To endure cyber attacks, businesses need to have built-in resilience and a cybersecurity mechanism in place. Having threat intelligence ensures network security, responding to security incidents and implementing security standards.

• A secure plan- Having a cybersecurity plan is imperative to identify vulnerabilities. The aim is essentially to know how much the IT infrastructure is exposed to various threats.

•Securing networks and gateways- Security intelligence is essential to identify and prevent threats and attacks much in advance. With network-threat monitoring tools, it is easier to take action against these threats.

• Response plan- It is imperative to identify security breach incidences and be prepared much in advance. This approach will give businesses the much-need resilience to make a comeback after an attack.

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Having a preventive security strategy will assure businesses of smooth operations even when attacked. Therefore, it is always better to prevent a cyber attack than wait for it to destroy everything.