Cybersecurity Best Practices in 2023

According to cybercrime magazine, a business falls victim to ransomware attacks every 11 seconds, costing an average of $1.85 million!??

The cost of a data breach in the United States as of 2022 averaged $9.44 million, compared to $4.35 million, the global average cost for the same.???

Looking at these statistics it becomes imperative to understand the gravity of damage a single mouse click can wreak on businesses, putting them through substantial financial losses. ?According to the National Cybersecurity Alliance, almost two-thirds of small and medium-scale businesses (SMBs) go out of business within six months of an attack. ?

Verizon’s 2020 Data Breach Investigations Report reveals that, while most cybercrime victims were companies with more than 1,000 employees, small businesses were still the targets of more than a quarter of all cyberattacks. Here, are some of the most popular and useful Cyber Security Best practices for the workplace and for users who can secure their data from unwanted access and attacks.?

1. Think Before You Click?

Stay cautious of the unknown links you receive through emails, messages, or while visiting other web pages that are not secure enough. Be careful when you get a message that has a link in it, even if it looks like it’s from a friend or a trusted organization. Before clicking on it, take a moment to ask yourself if you were expecting this message, whether you know the sender, or does it seem to be a phishing email. If you’re not sure of the authenticity of the message, then try to contact the sender and ask if they sent you the link. Random links could be malware, ransomware, or anything else that could steal or access your data. Nearly one-third of people will click on malicious links. Therefore, there is a need to be more aware and cautious. In this process, also avoid the following:?

• Avoid Unfamiliar Websites: This type of attack does not require you to click on anything to get the computer infected. It attacks your system by injecting malicious code as soon as you click on the link of the website. So, it is recommended to steer clear of such websites and visit only well-established websites that you are familiar with.??
• Avoid Useless Downloads:?You must avoid downloading unnecessary software and browser extensions. In the case of an organization, employees should be given authorization before they download any software using the internet. ?
• Stay Cautious on social media: When you are creating a social media account, or when you are updating your information on an existing account, only enter the basic information required to activate the account. Do not provide excessive information that could put you at risk.?

2. Use Multilayer Passwords?

Maintaining good password hygiene is also a best practice to follow. It may be easy to use and remember the same password across multiple platforms for all your accounts, but it makes your account more insecure. You should use distinct passwords or distinct color coding for all your different accounts. With this practice, even if a company where you have an account is breached or hackers have gotten access to one of your account credentials, these credentials would not work on other websites. Also, you can use passwords that are easy to remember and do not leave clues in the open or make them available to the public. You can change your password often and reset it. For more information on multilayer graphical passwords, contact us at Rainbow Secure. ??

3. Set up Two-factor or Smart Multi-factor Authentication (MFA) from Rainbow Secure ?

Generally, you require only your user id and your password to sign into your account, but the MFA service enables you to add extra security layers to the standard method of using passwords for online verification. With this, you will receive a prompt to add another method of authentication along with the password, like a code, fingerprint, OTP in your phone number or email, etc. With this method, you will be required to enter more than two credentials while logging in, keeping your account more secure by making it more difficult for hackers to access your data. This is another one of the most significant Cyber Security measures that you must take. ?

Use Smart MFA from Rainbow Secure, a Multi-factor with smart moves that protect your business and customers. Secure your business transactions, critical system access, offline experience, IoT transactions & regulatory data fields with multi-layer security.?

4. Adopt Zero-Trust Security Frameworks??

Neglecting cybersecurity precautions could prove to be the worst decision of any organization. Zero trust is a comprehensive approach to security that operates on the premise of “never trust, always verify.” Rather than a particular technology or solution, it is a philosophy that combines the following security principles to protect your assets:??

• Extensive authorization — authorize and authenticate based on all available data, including identity, location, service requested, and more.
• Least privileged access — only allow enough access for an authorized user to complete the task at hand and only grant access the moment it becomes necessary.

The phrase “zero trust” refers to the practice of always authenticating and authorizing users based on all available data, such as user identification, location, device health, service or workload, data classification, and anomalies.? It’s one of the best practices to undertake as a business owner to ensure everyone who accesses the company’s platform is whom they say they are.?

5. Keep Your Systems Updated?

Another one of the most crucial cyber safety tips is that you must keep all your browsers, software, and operating systems up to date. This is primarily one of the most important Cyber Security tips for the workplace and users. If your organization firewalls for security purposes, you must update that as well.?Updates often contain security patches that fix known vulnerabilities, which can prevent attackers from exploiting them and gaining access to your data or devices. Make sure to enable automatic updates when possible.?Do not delay this process. ?

6. Use Firewalls and Anti-viruses?

Hackers can attack your systems and networks through various methods, such as malware, viruses, phishing attacks, trojans, spyware, etc., to gain access to your data. With the help of anti-virus software and firewalls, your system will be capable of defending itself against these attacks. You need to ensure that your firewall or the software that you are using is updated regularly and prevents such cyber threats before they occur.?

7. Learn About Phishing Attacks?

In phishing attacks, hackers assume a different identity to trick you so that you provide them with your credentials, click on a malicious link, or open files or attachments that can attack the system with viruses or other malware. This can lead to a ransom attack. Some of the tips you can use to prevent this from happening and avoid getting caught in a phishing scam include:?

• Do not open emails from unknown people or sources.
• Hover over the links before clicking to figure out where they direct and if the link seems unsafe, do not click it.?
• Check for any type of grammatical errors and the id of the sender.
• Educate your friends and family about such types of errors so that they avoid opening such emails and forwarding them to you without any knowledge.?

8. ?Backup your Data Regularly?

Backups are nothing but a copy of the files or network’s data for restoration in case of damage or loss. Cyber-attacks may lead to data loss and file damage. In certain situations, there is no guarantee that the attackers will return the stolen data even after paying the ransom. Hence, it is always advisable to create data backup to mitigate the loss from cyberattacks.?

9. Don’t Use Public WiFi without a VPN?

If you are using public Wi-Fi, make sure that you use a Virtual Private Network (VPN) along with it. VPN allows your device to be secured as it encrypts the traffic between the server and your device. This increases the difficulty of hackers when they try to access your data by hacking into your device. If you do not have a VPN on your device, you should use a mobile network or other connections to use the internet.?

10. Increase cyber awareness amongst your employees?

While it’s impossible to stay up to date on every new cyber security threat, it is important to take some time each year to read up on the latest trends and attacks that could affect your data or devices. This can help you understand what steps may be necessary for protecting yourself in the coming year. It is also important to review the security measures you have in place and make sure that they are current and effective.?

Cyber security isn’t just about the technology you use; it’s also about educating yourself and others on best practices for staying safe online. Update yourself from time to time and read up on cybersecurity topics, both general and specific to your industry or business. Additionally, if you have employees, make sure they understand their role in protecting company data and are trained in how to do so safely. ?

11. Manage Third-Party Risk

Third parties add value to the organizations they partner with. They also introduce risk. Many organizations have incomplete third-party data, and they also give third parties a higher level of access than they need. Third parties may also work with vendors that introduce risks of their own. Organizations must have a thorough third-party risk management program in place, one that identifies and monitors the cybersecurity implications of working with third parties.

A Best Practice for Every Board

12. Educate Your Board

With growing pressure from shareholders to hold board members accountable for cybersecurity governance, educating the board is paramount. It can ultimately lead to an enhanced cybersecurity strategy that saves organizations reputationally and financially.

Collaborate with us and secure your business.?

How can Rainbow Secure help:?

Rainbow Secure is a Leader in Smart and Secure Digital Solutions that work for you.??

Secure Workforce & Customer login Use Authentication Plug-in by Rainbow Secure to secure workforce and customer logins. In this plug-in, you get a multi-dimensional password, passwordless login solutions with AI monitoring, Risk Analytics, and location fencing.??

Meet Compliance Requirements: Use Authentication Plug-in by Rainbow Secure with your business application and in SSO (Single Sign-on) and meet industry standards and compliance regulations such as NIST, ISO, FTC, SOX, SOC2, CMMC, CMMI, HIPAA, PCI, and others.??

Securely communicate and Collaborate: Use Secure Business Email by Rainbow Secure and get protection against account takeover, phishing, ransomware, and automated login cyber frauds. In this email, you get options to send encrypted emails, single sign-on with Office 365, and Google, and 1 TB one drive storage.??

Connect Business applications: Get one unified login using Rainbow Secure Single Sign-On???

Manage User Onboarding / OffBoarding using Rainbow Secure IAM??

Verify User using Smart Multi-factor MFA?

Do you have more questions about how to secure your business? Contact us today. Email us at [email protected]?