As we usher in a new year, businesses across the globe are setting goals and resolutions to achieve success and growth. One crucial aspect that must be at the forefront of every business's agenda though, is cybersecurity. In an era where digital threats continue to evolve, it's essential for organizations to fortify their defenses and ensure the protection of sensitive data.
Introduction:
In the past year we witnessed high-profile cyberattacks spanning from Medibank to OPTUS, HWL Ebsworth and Latitude Financial, to name but a few. And there’s no sign of the trend slowing, with Yakult, Eagers Automotive, Nissan Australia and the Victorian court system, all falling prey to cybercriminals in the closing weeks of 2023, businesses of all shapes and sizes, across all industries, are vulnerable and on notice that they’re on the radar of bad actors.
And so, in this post we explore some key New Year's resolutions that every business can adopt to enhance their cybersecurity posture in 2024.
Resolution 1: Conduct a Comprehensive Cybersecurity Assessment
The first step towards a secure digital environment is understanding the current state of your cybersecurity measures. Conduct a thorough assessment of your organization's systems, networks, and data vulnerabilities. This should involve evaluating existing security policies, identifying critical data, assets, and potential weaknesses, and assessing the effectiveness of current security measures. IT and Infosec partners are an excellent sounding board in this phase, prompting businesses to consider scenarios and their preparedness should an incident occur, and helping leaders to think about what more can be done.
Resolution 2: Bolster Email Security
As the number one vector for new cyberattacks, businesses should also challenge themselves to do more to keep their inboxes secure. If unwanted emails are getting through, and we know they are, then add an extra layer of specialist security to scan your email. Many businesses rely on the native security in Microsoft 365, but even with upgraded services including Defender or EOP, threats still get through. Applying an added layer of security from another vendor, introduces different thinking, IP and methodologies that can stop additional threats and keep your team and business safe.
Resolution 3: Prioritize Employee Cybersecurity Training
Employees are often the first line of defense against cyber threats. Ensure that your staff are well-equipped to recognize and respond to potential security risks. Develop regular training programs covering topics such as phishing awareness, password management, and safe online behaviour. By fostering a culture of cybersecurity within your organization, you create a resilient workforce capable of mitigating potential threats.
Resolution 4: Update and Patch Regularly
Outdated software and unpatched systems are prime targets for cybercriminals. Make it a priority to regularly update and patch all software, including operating systems, antivirus programs, and applications. Automated patch management systems can streamline this process, reducing the risk of exploitation due to known vulnerabilities.
Resolution 5: Strengthen Password Policies
Weak or compromised passwords are a common entry point for cyberattacks. Enhance your organization's password policies by implementing strong password requirements, enforcing regular password changes, and promoting the use of multi-factor authentication (MFA). MFA adds an extra layer of protection by requiring users to provide additional verification beyond just a password. Better still, implement a password management solution to boost security and to ensure password best practise across your organisation.
Resolution 6: Implement Robust Backup and Recovery Plans
In the event of a cyberattack or data breach, having a comprehensive backup and recovery plan is crucial. Regularly back up important data and ensure that backups are stored securely, preferably in an isolated environment. Experts recommend the 321 rule as a minimum, which suggests three copies of your data, stored on two different mediums, with one stored off site for disaster recovery. Finally, test your backup and recovery processes to guarantee a swift and effective response in the face of unforeseen incidents.
Resolution 7: Stay Informed About Emerging Threats
Cyber threats are constantly evolving, and staying ahead requires proactive awareness. Dedicate time to stay informed about the latest cybersecurity trends, vulnerabilities, and attack methods. Subscribe to relevant cybersecurity newsletters like the MailGuard blog, attend industry conferences, talk to your tech and infosec partners and supply chain vendors regularly, and encourage your team to engage in continuous learning to stay one step ahead of potential threats.
Conclusion:
As businesses set ambitious goals for the new year, it's paramount to include cybersecurity as a top priority. By adopting these resolutions, organizations can fortify their defenses, empower their workforce, and navigate the digital landscape with confidence. Investing in cybersecurity is an investment in the longevity and success of your business. Cheers to a secure and prosperous new year!
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