Blog

Whether you handle online payments, store customer data, operate remote teams, or rely on SaaS platforms to run your company, you’re exposed. From stolen credentials to ransomware, cybercrime can disrupt your business, cost you real money, and damage your reputation.

It’s important to pay attention to anything the seems out of the ordinary, such as:

• Unusually large transactions from new or unverified customers.
• Multiple credit cards used by a single customer, especially if from different names or banks.
• Rushed orders, especially with requests to bypass normal procedures.
• A trust-building customer who starts with small paid purchases, then suddenly places a large order and disappears after receiving the goods.

If you’re not sure if a transaction is legitimate, consider implementing a few extra steps to double-check. First, call the customer to confirm their order. If you’re still suspicious, don’t hesitate to reject the order. If it doesn’t feel right, it probably isn’t.

Invest in ongoing employee cyber training

Your staff are your first line of defense. Mistakes like clicking a malicious link, using weak passwords, or mishandling customer data are among the leading causes of breaches. You should:

• Schedule regular cybersecurity training, not just onboarding.
• Use phishing simulations to test awareness and reinforce caution.
• Make cyber hygiene part of performance expectations and flag serious non-compliance as a violation of company policy.
• Educate your customer-facing teams about social engineering and refund scams.

A well-informed team significantly lowers your exposure to threats.

Safeguard your data

Your business data is possibly your most valuable asset.

• Hold only the customer data you need. The more information you have, the higher your security risk.
• Regularly backing up and storing data offline. You can then restore your data if it’s lost, leaked or stolen.
• Set up logs to record all the actions people take on your website or server. Set up alerts to notify you if an unusual event occurs. Make sure someone checks the logs when an alert comes in.
• Create an incident response plan to help you get your business back up and running quickly if your business is targeted by cyberattack.
• Select a cloud services provider who will provide the right services for your business.

These steps will help you get out in front of potential data breaches.

Check internal systems are well managed

Part of protecting your business online is putting in place procedures that are compulsory for all employees to agree to.

• Require two-factor authentication (2FA) for all employees accessing sensitive tools, especially for cloud-based platforms or VPNs.
• Change default logins on new devices or software as many attacks begin with easy-to-guess credentials left unchanged.
• Use secure password managers instead of shared spreadsheets or reuse of weak passwords.
• Be smart with social media. Set your privacy so only friends and family can see your details.

Making sure your internal systems are well-managed with secure procedures and clear protocols for staff can significantly reduce the risk of online threats and protect your business from potential security breaches.

Protect your financial information

Always manually verify new supplier details or any requests to change bank information before approving payments. This is especially important for unusual or unexpected requests.

Consider getting regular credit checks to detect if someone is using your details to apply for loans or credit.

Secure your network devices, such as firewalls and web proxies, and use a VPN with two-factor authentication for remote access. Be cautious when using free Wi-Fi or hotspots, as they can be insecure, allowing others to intercept your data.

Consider cyber liability insurance

Most people have insurance for their home, car, or business interruptions, but a cyberattack could cause more damage than a disaster like a fire. Cyber insurance can help minimize the impact of a cyber event, depending on the value of your IT systems and internet reliance. If the cost of insurance is less than the potential cost of a cyberattack, it’s worth considering.