Do Canadian Businesses Need Stronger Cybersecurity?

Do Canada Businesses Need Stronger Cybersecurity?

Cyber crime has become one of the biggest issues facing businesses around the world today, and Canadian businesses are no exception to this statistic. According to the Canadian Anti-Fraud Center, about 21% of Canadian businesses were adversely affected by cybercrime in 2017 and $3 billion was lost in 2015 alone—and that’s just direct costs.

However, many companies are unsure of how they can protect themselves from cyber attacks and which cybersecurity practices they should be using to help protect their information, data, and assets.

Are You at Risk?

No business is immune to the threat of cyber crime, and with the number of attacks on the rise, it’s more important than ever for businesses to take steps to protect themselves. But what exactly are these steps, and how can you make sure your business is as safe as possible?

Furthermore, according to 80% of Canadian CEOs, cybersecurity poses a serious threat to the future growth of their business. Here are six tips to help you stay safe online.

Protect Your Data with a Password Manager

In the wake of high-profile data breaches, it’s clear that businesses need to do more to protect their data. One way to do this is by using a password manager.

A password manager can help you create strong, unique passwords for all your accounts and store them securely in one place. That way, if one of your accounts is compromised, the rest remain safe.

Use Multi-factor Authentication

In the wake of high-profile data breaches, many businesses are re-evaluating their cybersecurity protocols. One way to bolster security is by implementing multi-factor authentication (MFA).

MFA requires more than just a password to access an account; it also requires another form of identification, such as a one-time code sent via text message or a hardware token like Google Authenticator.

Encrypt Sensitive Data

In the wake of recent high-profile cyber attacks, it’s more important than ever for businesses to encrypt their sensitive data. Not only does this protect your data in the event of a breach, but it also makes it much more difficult for hackers to access your information.

Backup Your Information

In the event of a cyber attack, businesses need to have a plan in place to protect their data. This includes backing up information on a regular basis using cloud storage as a service and having a system in place to restore lost data.

Cyber attacks can happen at any time, so it’s important to be prepared. That way if you do experience an attack, you will be able to continue operating with minimal disruption.

You should also take measures such as educating employees about the dangers of opening phishing emails or downloading attachments from unknown sources, installing software updates regularly and upgrading firewalls.

Review Logs Regularly

Checking your logs regularly is one of the most important things you can do to ensure the security of your business. By reviewing logs, you can identify potential security threats and take steps to mitigate them.

This is especially important if you store sensitive data or handle sensitive information. To protect yourself from cybersecurity risks, it’s also crucial that you have a plan in place for responding quickly when breaches occur.

To prevent these incidents from happening in the first place, ensure all employees are aware of your company’s policies on acceptable computer use and sign an agreement before they start working with computers.

Final Thoughts

Fostering creativity and protecting trust in our data-driven world depend on cybersecurity.

Businesses in Canada are better able to prosper in a data-driven economy because of cybersecurity. Additionally, it assists governments in maintaining crucial services like energy, education, and healthcare.

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