Cybersecurity is one of the most important elements of owning a device. Unfortunately, though, it’s also one of the most overlooked aspects of owning a device! Millions of internet users put themselves and their devices at risk every single day because they’re not using proper cybersecurity measures on their devices that will ensure their privacy, security, and safety while they’re online. 

To make things worse, cybercrime is on the rise. The Covid-19 pandemic has led to a massive spike in cybercrime due to the increase in screen time all around the world. From working remotely to keeping yourself entertained, everyone is spending more time on their devices, and that’s creating more and more opportunities for cybercriminals to take advantage of unsuspecting victims. From malicious software to selling personal data on the dark web, cybercrime can be devastating. Hackers have destroyed the lives of millions of innocent people over the years, and you could be next.

Cybersecurity tools might be pricey, but now is the best time to get your devices secured for the year ahead. There are some incredible Cyber Monday deals for cybersecurity tools, which will give you access to the best premium cybersecurity tools at a fraction of their usual price. Keep reading to find out more about where top three cybersecurity tools you need to invest in this Cyber Monday. 

VPNs 

The first cybersecurity tool you should consider investing in is a virtual private network. They’re more commonly known as VPNs, but the main purpose of this handy tool is to encrypt your internet connection. 

As long as your internet connection is encrypted, no one can snoop through your data or monitor your internet traffic — as the government and your internet service provider do. This makes a VPN the perfect cybersecurity tool if you’re after privacy and security online. 

VPNs are especially important if you’re a frequent flyer or a remote employee that enjoys getting some work done at your local coffee shop. Airports, hotels, and restaurants often have unsecured networks that can put your device at risk. If you’re using a public WiFi hotspot, hackers can listen in on your device as it sends and receives data through the internet — this allows them to steal your personal information, login credentials, and banking details. 

VPNs also allow you to connect to secure global servers in other cities or countries around the world. When you connect to one of these servers, your real IP address will be hidden and your device will adopt the IP address of the server that you have connected to. Websites use your IP address to determine your physical location, so changing this unique identifier will trick websites into thinking that you’re accessing them from elsewhere. Changing your IP address allows you to bypass geo-blocking, unblock censored websites, and find cheaper deals on flights and accommodation. 

Antivirus Software

Malicious software, also known as malware, poses a genuine threat to our devices. Malware manifests in many different forms, but the most common types that you might come across are viruses, spyware, and ransomware. All forms of malware are extremely dangerous and should be taken seriously. 

That’s why there’s antivirus software — another excellent cybersecurity tool you need to install on your device. Antivirus software will constantly scan your device for any viruses or other forms of malware using a built-in library of known malware. If any malware or other harmful software has been detected on your device, the antivirus software can remove it before it does any further damage. 

Password Managers

We all know that it’s crucial to keep our accounts secure at all times. To ensure no one can gain access to your accounts, you need to use strong and unique passwords. 

Strong passwords are made up of letters, numbers, and symbols that do not relate to any of your personal information. Many internet users use their personal information such as their names or date of birth to create passwords, but hackers can easily uncover this information and break into your account. 

The only problem with strong and unique passwords is that they are difficult to remember. If you invest in a premium password manager though, you have access to a virtual vault that can only be accessed using a randomly generated master key. This will ensure that all of your login credentials are always securely stored away.

Why Go Premium?

You might be wondering why you need to spend money on premium cybersecurity tools when there are plenty of free options available on the internet. 

Unfortunately, this is an area where you can’t be taking any shortcuts. With free cybersecurity tools, you’ll run into tons of drawbacks. Just as an example, if you’re using a free VPN, you can expect slower connection speeds, more ads, less security, daily data limits, and fewer global servers to choose from. 

You won’t run into any of these problems if you’re using a premium VPN. So, make sure to get your Cyber Monday specials while they’re still available!

A study by Kaspersky Lab reveals that security breaches cost small businesses an average of $38,000. The cost is broken down into lost sales opportunities, downtime costs, and hiring security experts to mitigate attacks. They are often easy targets because 47% of small businesses lack a strict online security budget. 

Study reports show that 60% of microenterprises that experience cyberattacks close permanently in less than six months after the attack. Verizon reports that malware attacks account for 70% of all attacks recorded by microenterprises. This makes it crucial for small business entrepreneurs to understand how malware attacks happen, their effects, and their survival strategies. 

How Malware Attacks Affect Small Businesses

JBS Foods, Accenture, and Acer are major companies in their segments, yet in 2021, they experienced major malware attacks. They stayed several days without business, their sensitive data was stolen, and they had to pay up to $50 million in ransom. This shows how serious malware attacks are and the level of risk small businesses face. 

Microenterprise managers should do their best to equip themselves with knowledge about how to prevent malware attacks and stay safe. It is critical to understand what malware attacks can do to your small business and be prepared to deal with the challenge. 

Attackers can demand a hefty ransom payment: Governments around the world discourage organizations from giving in to ransom demands by attackers. However, owners who experience attacks are torn along a thin line on whether to close the business or give in and save it. The amount they demand depends on the business type and field. A report by CEO World Biz shows the average ransom demand in 2021 was $2.04 million for manufacturers. 

Fines from regulators: Regulators require every business to have placed strong online security measures. Malware attacks compromise sensitive data, and customers could sue your company. According to Forbes, 6 in every seven small businesses are not ready to prevent cyberattacks. They lack protection tools, training, and planning. 

Loss of business: A ransomware attack may encrypt all critical business documents and thus bring operations to a standstill for several days or weeks. Colonial Pipeline is a major gas company that experienced a malware attack in 2021. Its systems were crippled and went without business for weeks. The average ransom demand for small businesses in 2022 is $139,000. 

Damaged reputation: News about the attack could leak out and negatively impact your business. Your customers will lose trust in your business due to the safety of their data. Many clients could shift to your competitors. 

Strategies to Survive Malware Attacks

Microbusinesses require an elaborate structure for controlling malware attacks and damage. They require strong cybersecurity measures and recovery strategies. If the entrepreneur is preparing to sync a phone to a PC, the first action should be to install strong attack-prevention measures. The main reasons why microenterprises are more vulnerable to malware attacks are as follows:

• Many of them use unsupported or outdated computer networks.
• They think only larger companies can become targets of malware attacks.
• Software that can run on old devices does not have support.
• They set aside minimum online security budgets.
• Their workers lack proper training to prevent and deal with malware attacks – 60% of the businesses lack proper cybersecurity policy.

If your small business experiences malware attacks, consider following these survival steps. 

Know the Attack Source and Contain It

When a malware incident occurs, the first sign is slowing the computer system. In some cases, all operations may come to a standstill. The attackers might begin to demand ransom at this point. The first action should be to identify where the attack is coming from. 

The attack can happen due to a clicked link, a push notification to update software or an ill-minded employee who leaks out passwords. The next step should be taking measures to block the attack from spreading. Recovery processes can only start after blocking further spread.

Contact Law Enforcers or Attorneys

After a malware attack, you cannot rule out legal cases. Keeping your attorneys informed is a good strategy to help you survive legal hurdles. Law enforcers like the FBI Cyber Crime Complaint Center have technologies that can help track the attackers. Cybercrime is a serious offense and should be reported to the relevant authorities. 

Decide What to Do With Their Demands

After successfully launching a malware attack, the attackers will most likely demand ransom. Authorities often discourage payment of ransoms. The small business owner might be forced by circumstances to pay. 

• The cost of recovery might be higher than paying the ransom.
• Business reputation might be damaged permanently.
• The entire system might stand at a standstill for weeks, and the business could lose millions daily.

These issues might force an entrepreneur to consider paying the money. You should, however, consult with your team and weigh all options first. 

Alert Other Stakeholders

You might not go public to protect your business reputation. However, you are obligated to alert certain interested stakeholders. Top on the list are workers, clients, insurers, legal teams, and partners. Before involving the media, consult with the legal team first. 

Comply With Regulatory Demands

There are local and international regulatory cybersecurity and attack guidelines that every business needs to understand and follow. Your legal team can help you understand these laws better and comply with them. 

Improve Your Cybersecurity Safety Measures

Taking preventive measures is the best way to prevent malware attacks instead of acting when the damage is already done. Follow ransom prevention best practices, and your online system will be safe from attacks. 

• Keep all software updated: Outdated software leaves numerous loopholes for attacks. Keep all software updated including security prevention applications. 
• Create data backups: The data recovery process after attacks is tedious and costly. Even after paying the ransom, you can never be sure you will recover all data. Keeping backups is a good practice.
• Train employees: Prepare cybersecurity training sessions to keep them aware of vulnerabilities and actions. 
• Stay informed: Stay alert and know what is happening around the world. Stay up to date with the latest malware attack trends and the latest mitigation technologies. 

Conclusion

Whether running a small or large business, you cannot ignore the importance of keeping your company secure. Attacks are increasing worldwide, and you could be the next target. Make sure you stay alert and take quick action whenever you notice any suspicious activities in your computer network. Improve your cybersecurity safety measures by updating all software, creating backups, and training emplo

Reports on major data breaches break the news once every few days. Regardless of the size, any company can be vulnerable to various cyberattacks, but the smallest businesses are the easiest targets. Find out what you can do to protect your organization.

The largest companies are usually the best protected when it comes to cyber threats. The reasoning is quite simple – the bigger the company, the more resources it can devote to its IT and cybersecurity departments.

It’s not that the big dogs are never attacked – even companies like Microsoft deal with their share of cybercriminals. However, smaller businesses are targeted more often.

Smaller Companies Are at Greater Risk

According to Tripwire, small businesses suffered 152% more data breaches in 2020 and 2021 compared to the previous two years. This comes as no surprise. 2020 and 2021 were overshadowed by a global pandemic that forced most companies to move online. While large organizations had the resources to adapt and overcome the new situation, SMBs had a more challenging time.

What does it mean if a company is well protected against cyber threats?

• It has a trained and experienced security team.
• Its employees are educated in cyber security.
• It has access to advanced software and tools.

As you can easily imagine, the takeaways listed above are not the cheapest. Large companies can afford entire departments dedicated to their security, but small and medium-sized businesses have to improvise.

Why Are Smbs Targeted More Frequently?

Money is not the only factor in protecting against cyber criminals. Large organizations take their security seriously because they are the most profitable targets.

Hackers are well aware of this. They know that breaching a big company requires resources and team effort, so some of them instead focus on smaller and weaker prey. Representatives of small and medium-sized companies often think cybercriminals won’t pay attention to them, which has proven untrue.

Another issue is that SMB owners often underestimate what it takes to recover from a data breach or attack. The truth is, when a company faces a ransomware attack, it doesn’t have to pay for the data recovery only. The costs of legal procedures or lost productivity can seriously cripple its funds.

Last but not least, publicity and trust are also important. While large companies can afford to lose some of their customers and contractors without going bankrupt, small businesses have to care about their reputation.

What Can Be Done to Protect a Company From Cyber Threats?

Both large and small companies can be vulnerable to cyber threats, but the latter have it more difficult. In the post-pandemic world, there is a growing demand for remote services and jobs. Organizations are expected to work online, but it is not that simple – especially regarding security.

So What Can You Do to Protect Your Business?

1. Limit your employees’ access to data. If every one of your workers has access to every portion of client and contractor data, you risk losing that information. It only takes one person to (willingly or not) leak sensitive data and generate huge losses.
2. Invest in security tools. Nowadays, almost every business operates online. Sending, storing, and receiving data comes with risks, so it’s worth investing in the right security tools. An additional firewall, a secure VPN, and a good antivirus can help you fight hackers trying to access your data.
3. Create data backups. Sometimes a backup can save your life after an attack or even a system malfunction. If you’re not already backing up your information, start immediately.
4. Educate people. Have you ever heard of phishing? If not, you should learn about it and teach your employees. Criminals use phishing to scam their victims by convincing them that they are contacting someone they trust – a coworker or a company CEO, for example. In recent years, phishing has become one of the most effective methods of stealing data from individuals and companies.
5. Keep your software up to date. Many cyber attacks occur because organizations fail to update their software. Hackers look for vulnerabilities and exploit them to get into corporate networks, steal data, or distribute malware. These vulnerabilities can be addressed. System updates exist because they patch holes so hackers can no longer exploit them.

Teach Yourself About Online Security

These days, every business should invest in online security. Thieves and criminals no longer operate only in dark alleys. When it comes to cyber threats, preparedness is the best protection.