Cybersecurity Risk And Mitigation Strategy

There are a lot of risks looming around cyberspace. Well, knowing the cybersecurity risk and mitigation processes is an essential tool.

We will list 5 cybersecurity risks and mitigation strategies corresponding to each risk. 

Phishing

It is an attempt to gain delicate information while pretending as a trustworthy contact.

Moreover, phishing is a highly targeted resort to acquiring information from an individual.

For example, it can be in the form of emails. Yes, it may look completely convincing, often with faultless wording and genuine logos, but it can phishing. How?

Well, it may be a fake email from a CEO, pressuring a CFO to make an urgent payment.

On the other hand, there are ways to protect yourself grom phishing: 

  • Make use of anti-malware software.
  • Then, it’s okay to be suspicious of unexpected emails.
  • Also, keep in mind that companies simply do not ask for sensitive information.
  • And lastly, make sure you have spam filters turned on. Check them regularly in case they have accidentally trapped an innocent email. 

Ransomware

A form of malicious software that infiltrates data storage. Besides, it attempts to encrypt data. Then, it extracts a ransom to release an unlock code. What a crime, isn’t it?

Again, most of these start from malicious emails.

Here’s how you can protect your company:

  • Staff should be wary of free emails, particularly those that ask for a quick response. 
  • A series of well-managed data backups will allow you to recover from an unencrypted version of a file.
  • Software updates: keep your applications up to date. 
  • Malware protection: install and maintain good anti-virus and malware protection software.

Hacking

This might be the most common risk known to all sorts of people, hacking.

Traditionally, they attempt to gain access to bank account information or credit card databases.

However, intellectual property is another origin of value.

Hackers may try to trick staff into revealing user names and passwords through social engineering.

Here’s how to mitigate the risk: 

  • Make use of network firewalls, data access security, procedures for providing and removing access, and user awareness and training.

Inside Threat

If hiring employees, there is a possibility they could leak data by mistake or purposely.

  • Control the use of portable storage devices, such as USB memory keys, portable hard drives, and media players.
  • Limit how much data staff has access to. 
  • Educate your team to be alert to issues and minimize careless mistakes.
  • Consider using applications in certain situations to monitor staff behavior − who copies what.

Data Leakage

The use of smartphones and tablets has become widespread. This means portable storage devices are useful for back-ups and transporting data.

Unfortunately, data thieves may target those devices.

Here’s how to prevent data from leaking from your organization:

  • Ensure mobile devices have passcode locks.
  • Turn on the tracking by GPS and the option to remotely wipe the device if it is lost.
  • Then, you can use encryption software. It is highly recommended when using portable storage devices.
  • Keep an eye on your mobile devices and paperwork at all times.

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