Best Life-Saving Risk Mitigation Examples

risk mitigation examples

Data is a valuable asset in the Internet age. Hackers want to get your data. Read these risk mitigation examples to lessen the risk of losing data. 

People store data on all modern aspects of life online. Technology helped us to be more efficient in all processes. In this age of IoT, it is important the importance of cybersecurity. Furthermore, it is also important to see the types of cybersecurity threats around you.

Cyber Security Is Not Only Big Businesses’ Concern 

Fortunately, huge companies invest heavily in cybersecurity because they have the resources to do so. But, that gives a problem for small businesses. Why? Because the hackers’ attention is diverted towards small businesses. If you’re thinking that cybersecurity is a concern only for huge businesses, think again.

According to USA Today, two-thirds of all cyberattacks are directed at small businesses. Yet, those numbers only cover reported attacks. Moreover, there are a lot more happening – attacks that go unreported or undetected. 

Enhancing cybersecurity could indeed hurt pockets. That is if you want the latest security technologies and solutions installed. However, it doesn’t necessarily mean that protecting your business against an attack will hurt your budget. 

Risk Mitigation Examples

As a business owner, you definitely need to protect your data. Confused about where to start? We have compiled some risk mitigation examples to help your data stay protected.

Educate Your Employees

It is highly recommended to train your employees in security awareness. Furthermore, this type of education has the greatest impact on data protection. To start, educate your employees about common cybersecurity risks. Some examples are ransomware and phishing. As a result, an employee is less likely to surrender credentials to an attacker. 

Rest assured that training your employees about the latest security trends is worth it. Furthermore, a security-educated workplace is less likely to accidentally leak data or be fooled by cybercriminals.

Limit The Use Of Personal Storage Devices

If possible, prohibit the use of personal accounts for family use. Otherwise, limit the use. This prevents family members from accessing the company’s data. Hence, this avoids data breaches since only limited persons with full insight have access.

Create A Clear Set Of Policies

Create some cybersecurity policies for your employees to follow. Afterward, strictly enforce it. Moreover, conduct periodic reviews and assessments to ensure adherence. 

For example, you can enforce the ‘policy of least privilege’. Try to give them minimum access when accessing your network. To emphasize, give them the only amount of access they need to carry out their work. The fewer the access, the less damage they can do if their access privileges are abused.

Enforcing rules help your employees prevent intentional or accidental mishandling of data. Moreover, setting a rule doesn’t cost you anything but the time to create and enforce it.

Desktops, laptops, and servers must be encrypted at rest. 

Historically, only devices that could be “mobile” were encrypted as such to prevent data loss in the event of theft of the device. Today, as the cost of technology continues to decrease, the internal hard drives within all devices, including servers, should be encrypted.

Conclusion

These are just some of the risk mitigation examples. There are tons of ways to protect your data. Many might seem tiny but actually, contribute a lot. Truly, applying these risk mitigation examples might seem time-consuming. But, it is definitely worth it.

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