As companies continue to deal with the ongoing COVID-19 pandemic, they have to be aware of new issues that may impact operations. Cybercriminals are using the pandemic to their advantage to gain access to sensitive information. Hackers are compromising passwords, damaging applications, and installing malware in vulnerable systems. Businesses are struggling to find ways to develop cyber resilience in a COVID-19 world.
How Cyber Criminals Are Attacking Businesses
Thanks to the ongoing pandemic, it’s harder than ever to become one of the top cyber-resilient businesses in the industry. Most of the workforce is now remote. Many organizations feel that they aren’t stable because most employees’ homes are unsecured environments. Many workers are using open networks or downloading questionable applications. There are legitimate questions about whether companies have solid virtual private networks that they can rely on.
Over the last few years, the amount of security breaches has drastically increased. However, some organizations are still lagging behind in dealing with these threats. Emerging businesses are especially under attack because they have information that is attractive to cybercriminals while also lacking the resources to stop the fraudulent activity.
The US Department of Homeland Security has identified a few ways that hackers will attempt to attack businesses. Hackers are creating domain names using words relevant to the current coronavirus pandemic and using them to infiltrate teleworking networks. Many of these attacks occur using basic techniques such as tricking employees into clicking on fraudulent links and attachments. Vishing and smishing attacks have also increased due to employees using mobile phones to complete tasks.
Developing a Cyber Resilient Business
Small businesses are aware that cyberattacks are a major issue; however, they feel powerless. Many of these businesses recognize that they don’t have the finances or time to develop cyber resilience in a COVID-19 world. Hundreds of employees logging into the same remote network makes things easier for cybercriminals. Every employee should make sure that the laptops and other devices they use to conduct business in private places should have the most up-to-date software and operating systems. Their systems should be locked when not in use and hard drives should be encrypted.
Ways Businesses Can Develop Cyber Resilience in a COVID-19 World
Cyber resilient businesses are only possible when everyone is on the same page. Every member of the leadership team should be involved in creating a strategy that covers every gap. Train your staff about the possible points of entry that hackers use to attack. Make sure that all of your employees have a password to access the system. Make sure that the passwords are complex. Promote the use of company-endorsed communication services. Also, create some backup files and store them in a separate cloud account. Storing the files offsite should prevent a potential ransomware situation. These are just a few ways that businesses can develop cyber resilience in a COVID-19 world.
Exploring the Benefits of Cyber Risk Insurance Coverage
Cyber resilient businesses have coverage. Cyber risk insurance coverage can help prevent potential disasters. The policy will benefit businesses by covering them if they suffer a security breach. The policy includes business interruption protection in the event of a cyberattack.
As you try to figure out different strategies to develop cyber resilience in a COVID-19 world, contact the experts here at East End Insurance Agency today. We will help you find coverage to protect your business and secure your future.