Not quite long ago….

….businesses and individuals accessed the internet by dialing up via desktop computers. The fast growth of technology made it possible today to conveniently access the internet through mobile devices, Virtual Private/Public Network, biometrics and other inputting devices. This convenience and ease of access also led to cyber offenders using the same technology to attack computer networks, programs and data. To protect the computing resources, Cyber Security employs comprehensive and multifaceted measures to protect computer networks, programs, devices and data from attack. Cyber-attacks can be devastating to businesses. Every business regardless of size should care about cyber security attack for the following reasons.

Information Theft: Every business relies on information in a variety of forms to make a decision. Customers’ information theft can affect sales and company reputation as happened to Target.  New product information theft can lead to your competitor launching similar product and wrestling market share from you.

Security Cost: There is a cost of protecting and cost of not protecting IT resources. The cost of not protecting (i.e. doing nothing) can be higher than the cost of protecting (i.e. doing something). Imagine how much it would cost to notify customers whose information was stolen and also signing them for credit monitoring compare to the cost of protecting them?

Viruses: Viruses and malicious codes come in different forms. Just as computer programs are being continuously updated to fight the threats of viruses and hidden malicious codes aimed at deleting your critical document or locking up your computer systems, the cyber attackers are also updating their malicious programs to attack.

Denial-of-Service Attack (DOSA): No business can operate today without a website. DOSA is attack on computer or website which locks or slow access to the website or computer. DOSA can cause a loss of $$$ in sales and potential customer seeking information on the business website.

How do businesses protect themselves?
According to National Institute of Technology (NIST), internal threats account for 80% of security problem. The internal threats could be intentional or unintended and may result from non-business use of computing resources. To prevent cyber security, small business can adopt some of these security measures:

  • Train its staff on new computing device and technologies
  • Update computer software and acquire new computer hardware
  • Establish and constantly update log-in and password procedures for all users
  • Well and skilled Help Desk or outsource help desk
  • Install anti-virus software and other security measures
  • Constantly evaluating and updating security protocols based on current industry trends
  • Establish a backup protocols to protect company, customers and other proprietary information

c22The above are just few examples of steps to protect your business. Doing nothing can be more costly. If you dress up for work and walk down to your car in the garage and can’t find your car; how does it affect your day? Such is the experience if someone you do not know locks your computer or your website. You cannot work and your customers cannot buy. Have your computer or IT system evaluated today for any vulnerability.

Read more about this topic at SBA website at http://www.sba.gov/sites/default/files/cybersecurity_transcript.pdf
You will earn and print certificate after 30 minutes study. Do it for your business.

Previous newsletters are available on our website www.3egk.com for a FREE download.

Edwin Agbonyitor is a tax accountant, management consultant, certified QuickBooks ProAdvisor, professional bookkeeper, certified fraud & forensic examiner, information security analyst and president & founder of 3E Global Konsulting LLC. Contact Edwin at edwin@3egk.com or 301-922-1262

CONTACT US

Tel: (301) 922-1262

Email: Edwin@3egk.com

Address: 13841 Palmer House Way, Silver Spring, MD 20904

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