How to Stay Protected from the Growing Threat of Cybercrime
Lliam Holmes, Certified Ethical Hacker and CEO of MIS Solutions, shared a wealth of information at the company’s annual Tech Exchange 2021. MIS sponsored Tech Exchange to show appreciation to its clients and also to provide them with the knowledge they need to stay protected from the growing threat of cybercrime.
Some key takeaways from Lliam’s presentation are:
- Every 11 seconds, a U.S. business falls victim to a ransomware attack
- Ransomware increased 966% in June 2021 compared to June 2020
- 50% of all cyberattacks target small and medium businesses
- 60% of SMBs that suffer a hacking or data breach fold within six months
- 90% of all cyberattacks start with email
- Cybercrimes cost the world nearly $600 billion a year – that’s 0.8% of the global GDP
These stats are downright scary for business leaders trying to keep their organizations protected from criminals. But there are steps that can be taken to minimize a company’s attack surface.
How to Keep Your Organization Protected from Cybercrime
- Create a cybersecurity-first culture with owners and managers leading the charge – after all, it’s their necks on the line when something bad happens
- Protect your most vulnerable attack surface – Email.
- Configure and implement Microsoft Office 365’s advanced security policies. You can download the suggested policies HERE
- Create a mobile device management policy for your organization and use an MDM tool, like Microsoft Intune to keep your data safe
- Initiate Domain Message Authentication Reporting and Conformance (DMARC) to see if bad actors are sending email using your domain
- Use Artificial Intelligence tools to scan incoming emails and train users to spot malicious messages
- Be sure you are protected with cyber liability insurance. Have an in-depth conversation with your agent to ensure you are covered for social engineering, phishing scams and invoice manipulation. You’ll want to be sure to ask what policies you must have in place, such as multi-factor authentication, administrative controls, security awareness training, etc., to be underwritten. Be sure to download our cyber liability insurance checklist HERE
- Consider implementing the NIST 800-53 cybersecurity framework
Tech Exchange 2021 Photo Gallery