Page 15 - Jan-Feb 2024 Reporter

n today’s digital age, where electronic
Idata holds as much value as physical
assets, the importance of cybersecurity for
small and medium-sized businesses (SMBs)
is bigger than ever. The growing complexity
and advancement of cyber threats make it
necessary for SMBs to take a more active
role in protecting their business online and
ensuring operations are uninterrupted.
SMBs often struggle in this area because
they have fewer resources to dedicate
to comprehensive security systems,
positioning them as appealing targets for
cybercriminals. In fact, small businesses
are 3x more likely to be targeted by
cyber criminals than larger companies.
These businesses have valuable data,
including customer details, proprietary
knowledge and financial records. A breach
of this sensitive information can result in
substantial monetary losses and damage
to the company’s reputation. Also, as many
SMBs are part of larger supply networks,
a security breach can have extensive
consequences, affecting multiple parties.
Cyberattacks not only disrupt business
activities but also create legal issues and
destroy customer confidence. is standard, securing Wi-Fi networks and operating systems are consistently
Below is a set of practical actions is critical to cybersecurity. Use robust updated with the latest security patches
that SMBs can take to enhance their encryption protocols, such as WPA3, which and upgrades. These updates are not just
cybersecurity measures without the need is the latest and most secure, to ensure routine improvements; they often include
for significant resources or advanced that the data transmitted over the network critical fixes for vulnerabilities that, if
technical expertise. is encrypted, making it much harder for left unpatched, could be exploited by
unauthorized individuals to intercept. cybercriminals. Hackers constantly search
Encryption is an important layer of security for security gaps, and outdated systems
Set Stronger Passwords
Implement policies that mandate for all types of data as it can take 177 are easy targets. By prioritizing these
unique, complex passwords for all accounts days to detect a data breach caused by updates, SMBs can significantly reduce the
and systems. These passwords should substandard encryption. Additionally, risk of cyberattacks. Regular updates also
ideally be a mix of letters, numbers and it’s essential to move away from default enhance the performance and stability
special characters, making them difficult router credentials. Default usernames and of the software, providing a dual benefit.
for potential intruders to guess. To add passwords are often well-known and can Staying vigilant about these updates is a
an extra security layer, use multifactor be easily exploited by cyber attackers. straightforward yet effective way to protect
authentication, a multi-step account login Changing these to unique, complex sensitive data and maintain a secure digital
process that requires more than just a credentials significantly enhances network environment.
password. For example, along with the security. Another effective measure is to
password, users might be asked to enter a conceal the network’s SSID (Service Set Implement Mobile Device and Remote
code sent to their email or answer a secret Identifier), which is the network’s name Work Security Policies
question. A second form of authentication visible to devices. Not broadcasting the Create and enforce mobile device
can help prevent unauthorized account SSID makes the network less visible to management policies for devices accessing
access if a system password has been potential intruders. Furthermore, securing company networks. Key elements of these
compromised. To further reduce the risk router access with a strong password policies should include the requirement of
of unauthorized access, create a regular is essential. This password should be strong passwords, the ability to remotely
schedule for updating all passwords, different from the Wi-Fi network password wipe data in case of device loss or theft
preferably every quarter. and should be changed regularly to and restrictions on installing and using
prevent unauthorized access. specific applications. Additionally, it’s
crucial for businesses with remote workers
Secure Wi-Fi Networks
In an era where wireless connectivity Install System Updates
SMBs must ensure their software CYBERSECURITY continued on page 18...

www.lbmao.on.ca LBMAO Reporter - January-February 2024 15