Cybersecurity Tips and Best Practices for Your Business

Cybersecurity is becoming more important than ever as cybercrime continues to increase in complexity and magnitude. Businesses must be proactive in protecting their networks and data from malicious activity. The best way to do this is to follow cybersecurity best practices and tips. By understanding and implementing these tips, you can build a solid security foundation that will protect your business from cyber threats. From basic firewall configurations to more advanced techniques such as multi-factor authentication, this guide provides an overview of the key security measures your business should consider. With the right cybersecurity measures in place, you can keep your business safe from malicious actors and keep your data secure.

What is Cybersecurity?

Cybersecurity is the practice of protecting networks and data from malicious activity, such as cyber-attacks. It involves implementing preventative measures to secure your business’s network just as Parimatch has done, as well as responding to cyber threats when they occur, including data breach and ransomware incidents. A security breach occurs when an unauthorized person accesses your sensitive data. Threats such as malware, ransomware, phishing, malicious insiders, and social engineering can cause security breaches. Organizations of all sizes, including businesses and government agencies, are increasingly vulnerable to cyber threats.

Cybercriminals are constantly devising new techniques to exploit vulnerabilities and gain access to sensitive data. This data can be used for financial gain or sold on the dark web. It is important to take your digital transformation initiative seriously, as failing to adequately protect your network and data can result in a significant data breach. The reputational damage that can follow a breach can be devastating and can have long-lasting effects on your business.

Why is Cybersecurity important for businesses?

In the digital age, businesses are more dependent on technology than ever before. The use of data and digital transformation initiatives makes organizations more vulnerable to security breaches than ever before. However, it is important to recognize that every organization’s security needs are different, and there is no “one-size-fits-all” solution for cybersecurity. As such, it is important to carefully assess your organization’s cybersecurity needs and implement the appropriate security measures to protect your network. Failure to adequately protect your network can result in a significant data breach. The reputational damage that can follow a breach can be devastating, and can have long-lasting effects on your business. Thankfully, businesses can follow best practices to reduce the likelihood of a security breach occurring. This can help protect your organization from the consequences of a breach, such as loss of revenue and customer trust. It can also help restore trust in your brand and encourage customers to continue using your products and services following a breach.

Common types of cyber threats

  1. Malware – Viruses, worms, and other malicious software designed to infiltrate and disrupt computer systems. Malware can be used to steal information and disrupt operations. Many types of malware are designed to be distributed through social media, email attachments, and malicious links. 
  2. Phishing – Attempts to gain access to sensitive information such as login credentials and financial details by posing as a legitimate organization. Phishing can be carried out via email or SMS. 
  3. Social engineering – Using deceptive techniques to trick employees into providing sensitive information or granting access to their networks. Commonly involves impersonating an employee or a member of an organization’s higher management.
  4.  Ransomware – A type of malware that encrypts data and threatens to destroy it if a ransom is not paid.

Cybersecurity best practices

These are some of the most important best practices for cybersecurity. However, it is important to select the appropriate measures for your organization based on its cybersecurity needs.

  • Implement strong passwords for all accounts – Strong passwords are the first line of defense against cyber criminals. They should be at least 10 characters long and include a combination of letters, numbers, and symbols. It is also important to change passwords on a regular basis, as passwords cannot be relied upon indefinitely. 
  • Use multi-factor authentication for all critical accounts – Multi-factor authentication (MFA) requires users to provide two or more pieces of information to log in to an account. This can be achieved through a combination of a username/password and a one-time passcode sent via SMS or an authentication app.
  •  Use network security controls – Network security controls such as firewalls and intrusion detection systems (IDS) can enable businesses to detect and respond to cyber threats. They can also provide a high level of visibility into the network, enabling organizations to better understand how the network is being used. 
  • Establish a cybersecurity incident response plan – It is important to have an incident response plan in place to respond to a data breach or other cybersecurity incident. This allows you to react quickly and follow a predefined procedure for containing the breach and minimizing its impact.

Tips for creating a secure network

If you create a secure network, you are more likely to protect your organization from cyber threats. Follow these tips to create a secure network that protects your data from malicious actors. 

  • Keep devices and applications up to date – It is important to install software updates as soon as they are released by vendors. This is particularly important for operating systems, browsers, and other applications. Vendors regularly release patches to fix security issues, and failing to install these regular updates leaves your network open to attack. 
  • Implement two-factor authentication – Two-factor authentication is an important step toward securing your network. It requires users to provide two pieces of information to log in to an account, such as a username/password and a one-time passcode sent via SMS or an authentication app.
  •  Segregate company and personal data – Many businesses store sensitive data on their employees’ devices. While this can make it easier for employees to access data while on the go, it can also create a security risk. It is important to segregate company and personal data on devices to protect both. This can be achieved through various methods, such as using a separate storage device for sensitive company data and creating separate login credentials for the company and personal accounts.

Encryption techniques

Encryption is an important security measure that can help protect your data from cyber threats. There are various encryption techniques businesses can implement. They are not mutually exclusive, and organizations can deploy multiple encryption techniques to protect their data. 

End-to-end encryption – This type of encryption is used to secure communications between devices and end users. It is important to note that end-to-end encryption does not protect data while it is stored on servers. 

Transport layer security (TLS) – TLS is another form of end-to-end encryption that is commonly used to protect data in transit between two devices, such as a web browser and a web server.

Password best practices

Strong passwords are an important first step toward protecting your network and data. However, it is important to note that passwords alone are not enough to protect your network. The best approach is to implement a multi-layered approach to cybersecurity. Password best practices include: Use long and complex passwords – Passwords should be at least 10 characters long and include a combination of letters, numbers, and symbols. 

  • It is also important to use different passwords for each account, as reusing passwords can leave you vulnerable to cyber-attacks.
  •  Update passwords regularly – Passwords should be updated regularly, with some organizations recommending an expiration date of 90 days. 
  • Use two-factor authentication – As noted above, two-factor authentication is an important part of securing your network and data. It requires users to provide two pieces of information to log in to an account, such as a username/password and a one-time passcode sent via SMS or an authentication app.

Firewall configurations

Firewalls are an important part of any network security strategy. They are used to block unauthorized and malicious traffic from entering the network and can be implemented in hardware or software. They are commonly divided into two categories: Network firewall and host firewalls. Network firewalls are used to protect the entire network from malicious activity and are best deployed at the border between an organization’s internal network and the internet. Host firewalls are used to protect individual computers from malicious activity within the network and are best deployed on critical servers. Businesses should select a firewall solution based on their network architecture and security requirements.