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Navigating a New Normal: How Businesses Have Adapted Their A/R Practices in a Pandemic


Posted by Matt Osborn - 17 September, 2020

Best Practices for Cybersecurity Risk Management

"Never trust a stranger" is among the first lessons of everyone’s life.

As you grow up, you do not take this advice seriously and becomes irresponsible in many significant matters. So, in your professional life, you share your sensitive information and critical details casually on the wireless and unsecure channels without knowing the consequences.

According to the World Economic Forum’s Global Risk Report, cyber attacks stand at the 3rd position of the likeliest risk. It proves the severity of such issues. The industries are brushing up their skills to match the standards of the changing technological trends and the hackers are busy finding the loopholes that they can use to enter the network systems of the firms for their gain.

They target every kind of firm, whether big or small and disturbs the working environment and the daily life of the individuals.

Therefore, here are some of the weakest points of the firms that lead to cyber risks and attacks along with the measures to tackle these issues.


Basic Cybersecurity Framework Is a Must

There are many companies in the world where the basic framework of cybersecurity is not implemented. For them, enabling the firewall and installing the antivirus program is enough to stay protected from the cyber attacks. But, they are missing out too much.

Such weak cybersecurity practices open the companies to attacks.

Cysberseecurity risk managmentSource

There are many practices that must be done to protect the data breach of the company. For instance, encrypting the messages before sending them on the communication channels or providing security patches to keep the software secure.

These are some of the practices that come under the basic framework of the cybersecurity of the company.


Faults Of The Workforce

The workforce bears the blame of the data breaches that happen often. Whether it is about clicking on the malicious emails or links or downloading files from an untrusted source.

It is advised that the professionals that must stay active and aware of all the cyber risks. Such irresponsible behavior can cost the company huge money which can be unrecoverable.

In such cases, removing the employees from the company is not the solution. But, such situations are difficult for employees as well.

Therefore, it is important for the firms to make the employees aware of each and every type of risk that the firm can face.


Bringing Your Own Device Causes Issues As Well

Many companies support the concept of BYOD(bring your own device) providing flexibility to the employees. It helps them to work while traveling or from home. Such a concept removes the barriers of working from the desktops of the office. 

BYPD Cyber Security RisksSource

But companies forget that such a practice can be troublesome from the security point-of-view.

The personal devices of the employees are not protected enough from the black hat hackers who take advantage of these situations. Therefore, it is better to design some of the rules and regulations for the BYOD policy.

For instance, allow them to get access to the company’s network through VPN.


Securing Online Accounts With High-Security Passwords

There are many things that companies can do to protect the online atmosphere and accounts from hackers. Have a look at these measures mentioned below:

  • A high-security password for the account is the need of an hour
  • Change these passwords periodically and keep different passwords for different accounts
  • Do not share these passwords with anyone else
  • If you think that the passwords are compromised, take immediate action and change the password

Following the above steps help employees to protect the confidential data and information in their devices.

Cybersecurity main issuesSource

Take The Help Of The Internal Auditors

The internal auditors investigate the work process of the firm to devise effective strategies that are helpful in curbing the possible threats with ease.

They expose the vulnerabilities and smoothen up the interaction between the professionals and the technologies. The professionals ensure every measure to mitigate the risks with the help of their skills.

It is the best time to not fear from such risks. Address these threats which are the major pain points and make everyone in your organization aware of the cybersecurity risks.

These listed measures will help you to meet your business goals for sure.


 What are Cybersecurity risk management best practices:

  1. Faults Of The Workforce
  2. Bringing Your Own Device Causes Issues As Well
  3. Securing Online Accounts With High-Security Passwords
  4. Take The Help Of The Internal Auditors

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Topics: Management, Technology


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