5 Proven Ways to Protect Your Firm from Cyberattack

Remember the saying, "It takes 20 years to build a reputation and a few minutes of cyber incident to ruin it"? 

These days, with everything going digital, cyberattacks are becoming increasingly common. It doesn't matter whether your business is big or small - everyone is at risk. You've probably heard about data breaches or ransomware attacks, right? Well, these attacks can really mess things up for you and your business. That's why it's important to have good cybersecurity measures in place.  

In this blog post, we're going to talk about the five strategies to protect your business from cyber threats and keep your assets safe.  

Protection from cyber-attack

1. Train Your Employees in Cybersecurity Best Practices.  

Your employees are often the first line of defense against cyberattacks. Hackers and cybercriminals often use various cyber-attack tactics, such as phishing emails, malware and social engineering, to infiltrate your company's sensitive information. 

To minimize the risk of a cyberattack, it is crucial to provide your employees with regular training on how to recognize these threats, respond to them appropriately and handle sensitive information securely.  

By doing so, you can increase your employees’ awareness in identifying and reporting potential threats. This can ultimately help to reduce the likelihood of a successful cyberattack and protect your company's valuable assets. 

2. Implement Strong Password and Multi-Factor Authentication. 

Passwords are the keys to your company's sensitive data, so it's essential to create strong password policies. It is better to require and encourage your employees to create complex passwords that include a mix of letters, numbers and symbols.  

Additionally, according to EC-Council University, you should consider implementing multi-factor authentication since it is another effective way to protect your systems and can further enhance password security.  

Requiring users to provide two or more forms of identification, such as a code and a fingerprint, before accessing sensitive information, can add an extra layer of security. It also makes it much harder for cybercriminals to gain access to your systems. 

3. Use Firewalls, Antivirus Software and Other Security Tools. 

Firewalls, antivirus software and other security tools can further reinforce your firm's cybersecurity.  

• Firewalls act as a barrier between your internal network and the internet, blocking unauthorized access and preventing malware from entering your system.
• Antivirus software scans your system for viruses and other malicious software and removes them before they can cause damage.
• Additionally, other security tools such as intrusion detection and prevention systems can help identify and block potential threats. It is important to carefully  select the appropriate personal antivirus software to ensure maximum protection

By incorporating these security measures, you can provide the best possible protection for your firm, reducing the likelihood of an attack occurring and minimizing any damage should one occur. 

RELATED: Best Cybersecurity Practices to Protect your Data 

4. Regularly Update and Patch Your Software and Systems. 

Cybercriminals often exploit vulnerabilities in outdated software and systems to gain access to sensitive information. To prevent this, it is important to regularly update your systems to keep things running smoothly, TechTarget suggests  

This includes operating systems, antivirus software, firewalls and any other software or systems that are used to protect your firm's data. By keeping everything up-to-date, you can keep your systems protected and reduce the risk against cyberattacks. 

5. Backup your Data 

If a cyberattack occurs, having a backup of your firm's data can be extremely valuable. According to USGS, backups provide protection against human errors, hardware failures and virus attacks. 

By regularly backing up your data to a secure location, you can ensure that your systems and data can be restored quickly in case of a breach or ransomware attack. This can help minimize downtime and data loss, which can be detrimental to your business operations. 

The Bottom Line 

Cybersecurity is critical to protecting your firm from the increasing threat of cyberattacks. By implementing the strategies outlined in this blog, you can significantly reduce the risk of a successful attack, protecting your valuable assets and reputation. 

Remember, it takes only a few minutes for a cyber incident to ruin your reputation but with the right cybersecurity measures in place, you can prevent it from happening. 

Are you interested in enhancing the talent pool of your accounting firm while maintaining data confidentiality at an affordable cost?

Consider outsourcing with D&V Philippines.  Our company is committed to enforcing rigorous data security protocols to safeguard our clients' financial data. If you want to learn more about our outsourcing services, Contact us today! 

You can also download our whitepaper, Finding the Right Talents: D&V Philippines’ Solutions to Modern Accounting Firms