As cybercrime continues to rise, so does the importance of cybersecurity. No business, large or small, is immune to cyberattacks. It is imperative to have the best cybersecurity practice implemented to prevent these cyber threats and damages from taking place.
Whether you work for an SMB or a large enterprise, these are the best cybersecurity practices you need to be aware of in 2020.
1. Using Multi-factor Authentication
Mutli-factor authentication, or MFA for short, is the practice of asking another credential information besides your username and password, so even when the attacker has successfully guessed your password (i.e., via a brute force attack), there’s an additional layer of security to prevent them from accessing the site.
Other information used in MFA can be:
- Something you know: for example, a PIN, a pattern you should draw, an additional password
- Something you are: your iris/retina, your face, or a fingerprint
- Something you have: a USB dongle
2. Ensuring On-time Updates and Patches
Cybercriminals often exploit weaknesses in software and programs that have been patched with a security fix. Back in 2017, for example, Equifax was hit with a major data breach that compromised the information of 143 million users, because they didn’t update its open-source server framework even though a patch was available.
While this practice seems simple, it can be difficult to implement if you have a lot of different devices, each with a lot of different programs and software. Having a proper patch management practice in your company is very important.
Make sure to check for updates regularly and spare some time to install all updates as soon as they are available.
3. Implementing Identity and Access Management (IAM)
Implementing IAM is very important in ensuring a proper cybersecurity practice for the whole company. IAM is essentially about making sure that only the right people at the right time has access to the company’s critical information, anytime.
So, IAM has three main functions:
- Identification: the user asking for information must possess an identity proofing that they are eligible for the information.
- Authentication: the process of proving identity and whether the owner of the identity is eligible for the requested information
- Authorization: determines whether the owner of the identity is allowed to access the information
A good IAM infrastructure is very important to ensure the company has a secure environment while at the same time reducing the cost of cybersecurity since it eliminates the needs of investing in equipment and software solutions, and prevents legal costs.
4. Implementing a Risk-Based Approach to Security
Regulatory compliance practices that we have discussed above are sometimes not enough to protect your data and overall cybersecurity. Each company and industry has its own unique and sometimes hidden risks. So, focusing on compliance and meeting all the standard practices might not be enough.
Pay attention to the risks that your company faces in cybersecurity, and you might need to implement a thorough risk assessment. In general, you should identify your valuable assets that are vulnerable to cybersecurity threats and the current state of cybersecurity in your company.
Identify the weakest points of your cybersecurity practices and adjust accordingly. Also, stay on top of the newest hacking techniques and methods, as well as when there are new security measures available.
As technology continues to advance, so will cybercrime. It is imperative that we continue to implement the best cybersecurity practices possible to prevent cyber attacks and breaches. By following the practices on this list, you have a better chance of staying safe in the current cyber landscape.