Security is a priority for many business owners. These leaders allocate time and resources toward protecting their shops and factories from thievery. However, they must address specific vulnerabilities.
Security threats can come in two ways: physical security and cybersecurity. Both are essential to maintaining a tight safety infrastructure. Here are the most common problems for business owners and how to address them.
How Are Businesses Vulnerable With Cybersecurity?
Small businesses are at the heart of cybertheft because thieves think they have the most vulnerabilities. In fact, research shows 43% of cyberattacks happen to these companies. Here are the most common cyber weaknesses.
Poor Password Protection
Cybersecurity starts with employees. Many workers use weak password methods and leave their accounts vulnerable.
The first problem many people have is using the same password for multiple accounts. A 2019 study finds 52% of people reuse the same password. Only 35% of users set a different password for every account.
Another password problem is making the code easy to crack. Employees may use their birthday or other personal information. Guessing one password can give thieves access to many accounts and sensitive information.
Business owners can address these vulnerabilities by creating stronger passwords with numbers, capital letters and special characters. Alternatively, they can use password managers. These programs create complex passwords for the user and store the information across devices. Thieves will have a much harder time cracking the codes.
Phishing Emails
A classic form of cybertheft is still going strong. The Federal Bureau of Investigation (FBI) says its Internet Crime Complaint Center (IC3) received over 300,000 phishing complaints in 2022 — the most of any crime type.
Cybercriminals still use phishing because there are more ways than ever to reel someone in. Phishing entails sending an email requesting the user take action by clicking a link or downloading a file. This attachment contains a virus that could cost the company thousands of dollars.
Modern criminals have become even savvier using phishing through SMS messages (smishing) and over the phone (vishing). They can even install malicious code onto your computer (pharming).
Addressing phishing emails starts with the employees. Business leaders should train workers on what they should and shouldn’t click on with their emails. People who see a suspicious email should flag the information technology (IT) department. It’s also a good idea for IT professionals to test employees by sending suspicious emails to see if anyone clicks on them.
Malware Attacks
Malware attacks are another concern for business owners. They can derive from phishing attempts, drive-by downloads, malicious downloads and other sources. Even visiting sketchy websites on the internet can automatically download malware onto an employee’s system without their knowledge. Malware attacks date back to the 1980s, so it’s nothing new for business owners to tackle.
The best way to address malware attacks is to prevent them before they start. Business owners should use robust security software on every device to inspect for malware around the clock. They should also use email filters that detect infectious links and attachments and send them to a junk folder.
Ransomware Attacks
Ransomware devastates business owners worldwide, whether mom-and-pop shops or multinational corporations. Criminals use ransomware — a type of malware — to hold the victim’s data for ransom. Typically, they’ll demand a monetary amount and threaten to delete the information if the company doesn’t meet the demands.
A 2021 Ransomware Task Force study finds 70% of ransomware attack victims were small businesses, so safeguarding against them is imperative.
Ransomware attacks are preventable if employees routinely update their software for security patches. Widespread ransomware attacks, like the 2017 WannaCry virus, attacked systems people did not update. Businesses should also regularly back up their data and encrypt it to ensure thieves can’t see what they’ve stolen.
Thieves target small businesses in the automotive industry and related sectors because of their importance to the supply chain. They have financial motives, but another priority is to create chaos.
How Are Businesses Vulnerable With Physical Security?
Cybersecurity is a significant concern — especially as humans go deeper into the digital age. However, it’s still worthwhile to be aware of physical security. Here are the most typical concerns for business owners.
Insufficient Lighting
Small businesses may close shop at night and require employees to turn off the lights while locking up. This procedure makes sense because owners want to save money. However, this strategy could work against them because thieves love dark places. Insufficient lighting gives criminals a terrific opportunity to escape the scene unseen.
Lighting is crucial for businesses that stay open at night. Adequate lighting makes customers feel safer because it deters criminals and makes everyone feel secure while walking to and from the shop.
Luckily, there are easy fixes to improve this physical security. Business owners should consider installing motion sensor LED floodlights outside their stores. These devices turn on when they detect human or animal movement outside the building and flood the area with bright lights. LED lighting uses 75% less energy than incandescent lights and lasts 25 times longer, so the utility bill impact is minimal.
Lack of Video Surveillance
Sufficient lighting is half the battle. The next part is acquiring video surveillance systems. The appearance of security cameras thwarts many criminals from planning an attack. Some businesses elect not to have them because they think their shops are safe or have had issues with cameras.
Installing surveillance cameras is a significant boost for businesses of all kinds. Business owners should install them at every entry point to cover their bases. Modern devices allow users to track footage and watch the cameras anytime — even when they’re out of the office.
Key Management
Business owners often give keys to trusted employees. They may have master keys, allowing them access to all offices, workshops and other necessary rooms. When these workers leave, where do the keys go? Some people forget to collect them — or the employee cannot turn them in. This problem becomes a liability.
Key management is an underrated security risk for businesses. Owners should immediately collect all keys when employees leave. Changing the locks for safety is best because a former worker could have made a copy. They could also lose the key, which could end up in the hands of a criminal.
Ensuring Tight Security in the 21st Century
In the 2020s, businesses are at the heart of the digital age. More companies have started using AI and other innovative technologies to help them grow. However, there are some liabilities with security. Leaders should invest time and resources to ensure tight physical security and cybersecurity so they can feel confident their operations are safe.
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