Digital security is a key focus for any business, particularly when it comes to digital transactions. It is estimated that losing just 1,000 records costs an organisation £35,000.
With this in mind, here are seven top tips for dealing with security threats efficiently and with minimal impact:
1. Realise you’re a target
Cybercrime has evolved into a well-funded, professional industry, and you and your employees are likely to be the subject of daily attacks. Hackers will attempt to profile specific employees and use personal information to tailor their attacks.
2. Implement strong authentication everywhere
95% of hacks involve the use of stolen credentials, so two-step authentication is a must for reducing risk. Security teams should also monitor the web in order to detect employee security breaches and reset passwords as quickly as possible.
3. Participate in threat intelligence
The Threat Exchange Network is free to connect to, and allows data about suspicious activity to be shared between trusted enterprises. This makes it easier for security departments to pre-empt attacks and block dangerous IP addresses.
4. Compliance provides peace of mind
Online banking customers know that banks adhere to FFIEC guidelines for transactions, which helps to build trust. In the same way, DocuSign work in partnership with industry thought leaders to adhere to xDTM – a new global standard for secure cloud-based Digital Transaction Management.
5. Communications must be secure
Research shows that customers are 42% less likely to do business with a company that has fallen victim to a cyber-attack. Phishing scams remain commonplace, and 23% of people who receive a phishing email will still open it. Working with email providers to ensure any spam is blocked or filtered to the ‘junk’ folder is a must.
6. Ensure you have the most up to date encryption software in place across all online platforms
Unencrypted login pages, especially for apps, are an incredibly common issue with business applications, and can easily result in theft of customers’ personal details.
7. There is no ‘secure’, only ‘securing’
Threats are constantly evolving and expanding – by 2020 there will be more devices connected to the internet than people. Therefore, it’s critical that security teams are constantly vigilant and prepared to act preemptively against potential attacks.
Whilst security is a constant problem and attacks are all but inevitable, having the correct measures in place and creating a culture of vigilance against cybercrime are the best strategies for mitigating threats.
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