Cyberattacks can happen to any business—large or small—and the consequences can be severe. From losing customer trust to even shutting down operations, the fallout can be harsh.

Interestingly, many businesses aren't taking the necessary steps to protect themselves. In fact, 42% of companies are experiencing "cyber fatigue" - a kind of apathy that leaves them vulnerable to attacks.

So, what can you do to protect your data? Let’s walk through some best practices, supported by real-life examples to show you why these steps are necessary.

Use Strong Passwords (and MFA)

Let’s be honest—most of us are guilty of reusing passwords or sticking with something easy to remember. But weak passwords are a hacker’s dream. Make sure your team uses passwords that are complex and regularly updated. Better yet, add Multi-Factor Authentication MFA for an extra layer of security.

In 2021, hackers used a single stolen password to attack Colonial Pipeline, causing a fuel crisis in the U.S. It’s proof that strong passwords and MFA aren’t optional—they’re essential.

Encrypt Everything

Think of encryption like locking up your sensitive data in a vault. Whether it’s being sent across networks or stored on a server, encryption makes your data useless to anyone without the decryption key.

The University of Rochester Medical Center didn’t encrypt devices holding patient data, and it cost them $3 million in fines. A simple encryption setup could’ve saved them the headache.

Keep Software Updated

You know those software update pop-ups you tend to ignore? Stop doing that. Outdated software can be full of vulnerabilities that hackers love to exploit.

The 2017 Equifax breach happened because they failed to update their software. It exposed the personal data of 147 million people—a mistake that could’ve been avoided with one patch.

Train Your Team

Your employees are your first line of defense, but they can also be the weakest link. Teach them to recognize phishing emails, avoid sketchy links, and report anything suspicious.

In 2016, a Snapchat employee fell for a phishing email pretending to be from their CEO. Sensitive payroll info was shared, leading to a breach. A bit of training could have prevented this.

Prepare for the Worst

Even the best security setup can’t guarantee zero breaches, so it’s smart to be prepared:

• Back Up Data: Schedule regular backups and store copies securely offsite.
• Create an Incident Response Plan: Have a step-by-step strategy ready to deal with breaches quickly.

After Marriott’s 2018 data breach impacted 500 million customers, they acted fast—informing customers, offering credit monitoring, and improving their security setup. Their quick response helped rebuild trust.

Monitor and Audit Regularly

Keeping an eye on your systems is key. Regularly review network activity, access logs, and security setups to catch any vulnerabilities before hackers do.

The 2020 SolarWinds attack went unnoticed for months, giving attackers time to infiltrate thousands of organizations. Regular monitoring could’ve stopped it sooner.

Level Up Your Security Tools

A strong security setup is a must.

• Firewalls and Antivirus Software: These are your first line of defense against unauthorized access and malware.
• Zero-Trust Security: This approach assumes no one is trustworthy by default. Everyone—whether inside or outside your network—must verify before accessing anything.

Sophos used firewalls to fend off persistent attacks from Chinese hackers, proving how critical these tools are.

Vet Third-Party Vendors

Third-party vendors often have access to your systems, which makes them potential weak spots. Before partnering, ensure they meet strict security standards and keep an eye on their practices regularly.

In 2013, Target’s massive breach exposing 40 million credit card numbers started with credentials stolen from an HVAC vendor. Stronger vendor management could have stopped it.

Limit Who Has Access

Not everyone on your team needs access to all your data. Follow the "principle of least privilege" to restrict access to only what’s necessary for each role.

In 2018, a Tesla employee leaked trade secrets by accessing sensitive information they shouldn’t have had. If Tesla had limited access, the breach might not have happened.

Consider Cyber Insurance

No matter how much you prepare, some breaches might still slip through. That’s where cyber insurance comes in—it helps cover recovery costs, legal fees, and even customer notifications after a breach.

When New Orleans faced a ransomware attack that disrupted operations, the recovery process cost over $7 million, including replacing 600 devices and cleaning thousands of computers and servers. Thanks to its cyber insurance policy, the city was able to recover $3 million of those costs, easing the financial burden of the attack.

Following these steps will help you protect your business from cyber threats, keeping your data secure. Even small actions can make a huge difference—so why not start today? Contact us or subscribe to the Cyberkach blog for expert cybersecurity tips and updates.