In today's interconnected world, businesses face significant digital risks that can jeopardize their operations and reputation. Cybercriminals target businesses engaging in online transactions, handling sensitive data, and providing essential services, regardless of their size. Professional IT support alone is not sufficient to ensure cybersecurity. To establish resilience, businesses need to implement layers of protection and train employees to recognize and mitigate phishing attempts. In this blog, we’ll uncover what the 4sight™ Digital Risk lens reveals about digital risk exposures common to many businesses.
What Business Activities Attract Cyber Criminals?
Your business may be targeted for a cyberattack if you…
- Engage in online financial transactions
- Maintain electronic personnel or client records with personally identifiable information
- Hold financial data
- Have an online presence through a website, email server, or social media platform
- Provide an essential good or service
Cyber Criminals Only Target Large Businesses with Deep Pockets. True or False?
False! According to Verizon’s 2023 Data Breach Investigations Report, small business (less than 1,000) employees reported over 40% more incidents of cyber attack than did their larger counterparts! This is attributed, in part, to weak cyber security positions held throughout the small business community. Small businesses are recognized by cyber criminals as soft targets. Could your business recover from a cyber attack that resulted in an extended shutdown?
Is Cybersecurity a Concern if My Business Has Professional IT Support?
Yes! You should understand how your IT support services account for cybersecurity vulnerabilities. For example, what controls are in place to guard against web application attacks? Are controls in place to prevent system intrusions? Are employees trained to recognize and avoid phishing attempts? Are security settings properly configured? There is a lot to learn about cybersecurity and digital risks! Thankfully, the 4sight™ Digital Risk Optimization process can help you navigate the ever-changing cybersecurity landscape.
Resilience to Cyberattack is About Establishing Layers of Protection
According to Bazar Solutions, 90% of cyberattacks begin with a phishing email and 19.8% of employees click on phishing links! Are your employees trained to recognize and avoid phishing attempts? Employees play a critical role in overall cybersecurity. Administrative controls can mitigate the risk employees pose to cybersecurity. Administrative controls combined with physical and technical controls provide layers of protection that help prevent a breach should any one layer fail. 4sight™ Digital Risk Optimization can help you identify the layers of protection that are appropriate for your business.
4sight™ Digital Risk Optimization:
A Process that Gives You Control Over Digital Risk Exposures
Digital risk exposures can contribute significantly to your overall business risk profile. Adequate protection against cyber threats and other digital risks must be certain. Resiliency to digital risk exposures is essential to business continuity and positive brand reputation. Here’s how the 4sight™ Digital Risk Optimization process can bring your digital risk footprint into focus and allow critical exposures to be quantified and managed:
- Education on digital risk exposures
- Digital risk exposure and control evaluation
- Gap analysis of digital risk controls
- Definition of digital risk tolerances
- Alignment of exposure controls and insurance coverages with risk tolerances
- Integration of digital risk improvements into a client service plan
In conclusion, safeguarding your business against digital risks is an ongoing endeavor that requires proactive measures and continuous improvement. By understanding the potential vulnerabilities, evaluating digital risk exposures, and implementing appropriate controls, you can enhance your resilience and protect your business from cyber threats.
The 4sight™ Digital Risk Optimization process offers a comprehensive framework to navigate the ever-changing cybersecurity landscape, enabling you to bring your digital risk footprint into focus. By quantifying and managing critical exposures, you can establish a robust business continuity plan and safeguard your brand reputation. Embrace the power of digital risk optimization and take control of your business's digital security. Let's fortify our defenses and build a secure digital future together.
