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6 Ways to Increase your Business's Cyber Resilience

Cybersecurity Laptop

Cyber security is a top priority for businesses these days. The threat of sophisticated cyber attacks have never been greater, and it is important to ensure that your IT systems can withstand any potential fractures in the armour before they crumble into dust from neglectful maintenance or another devastating blow delivered by malicious hackers.

With the number of cyber security incidents increasing over the years, here are some steps that businesses can take to protect against these increasingly sophisticated online threats.

1. IT Vulnerability Assessment
In the most basic sense, a vulnerability assessment is nothing more than a comprehensive examination of your system in an effort to identify any potential security risks or weaknesses.

A cybersecurity audit, on the other hand, is a bit more focused. Rather than just looking for potential vulnerabilities, a cybersecurity audit is designed to assess your organization's compliance with relevant security standards and regulations. (Cybersecurity audit is discussed further in the next point below) While both assessments are important, they serve different purposes.

A vulnerability assessment is typically conducted on a regular basis, while a cybersecurity audit is usually only conducted once or twice a year. Furthermore, a vulnerability assessment will typically be conducted by an external party, while a cybersecurity audit will usually be conducted by an internal team. Ultimately, both assessments are important tools for keeping your system secure.

Penetration testing is a component of vulnerability assessment and is an important security measure that should be carried out regularly on all computer systems. The purpose of penetration testing is to identify weaknesses in a system that could be exploited by attackers. By simulating an attack, penetration testers can determine what safeguards are necessary to prevent a real attack from being successful.

There are many different types of penetration tests, but all share the same goal of uncovering vulnerabilities. Some common methods of penetration testing include port scans, brute force attacks, and SQL injection. Pen testers may also attempt to social engineer employees in order to gain access to sensitive data.

Conducting regular penetration tests is the best way to ensure that your system is secure against potential threats. By identifying and addressing weaknesses

2. Cybersecurity Audits
Cyber security audits are important tools for assessing the effectiveness of an organization's cyber security posture. By identifying weaknesses and areas of improvement, cyber security audits help organizations to take proactive steps to reduce their risk of being compromised by cyber attacks.

In addition, by providing independent and objective assessments, cyber security audits can help to build confidence among an organization's stakeholders that its cyber security measures are adequate. As the threat landscape evolves and new technologies emerge, it is increasingly important for organizations to regularly conduct comprehensive cyber security audits. By doing so, they can ensure that their defenses are up to date and effective against the latest threats.

3. Employee Training
Employees play a key role in cyber security, so it is important to provide them with training on how to identify and deal with potential threats. This should include both online and offline training, as well as regular updates on the latest cyber security threats.

There are many different types of training that can be provided, but some of the most important topics include password security, phishing scams, and social engineering. Employees should also be taught how to spot signs of a potential attack and what to do if they suspect their computer has been compromised.

By giving employees the tools they need to stay safe online, companies can help to protect their data and reputation. In addition, employees can play an important role in cybersecurity by reporting any suspicious activity and following best practices for password protection and internet usage.

4. Business Continuity Planning
In the event of a cyber attack, it is important to have a plan in place to ensure that your business can continue operating. This may involve having backup systems in place, as well as procedures for dealing with customer data and communication.

5. Incident Response Planning
Incident response planning is a critical part of any organization's security posture. By definition, an incident is an event that disrupts normal operations and causes harm to people, property, or information. A well-developed incident response plan allows an organization to minimize the damage caused by an incident and resume normal operations as quickly as possible.

There are four key steps in developing an effective incident response plan: identification of potential incidents, development of response procedures, creation of a communications plan, and testing of the plan.

Potential incidents should be identified by brainstorming all of the ways that normal operations could be disrupted. Response procedures should be developed for each type of incident identified. The communications plan should detail who will be responsible for communicating with various stakeholders

6. Cyber Insurance
As cyber attacks become more common, businesses are increasingly looking to insure themselves against the financial impact of an attack. This can help to cover the cost of repairs, as well as any legal fees that may be incurred.

As cyber security threats evolve, it is important to keep up with the latest trends. This may involve attending conferences and seminars, reading industry publications, and subscribing to cyber security news feeds. By staying up to date with the latest developments, you can ensure that your business is better prepared to deal with any potential threats.

Fortify your cyber resilience and secure your critical assets.

Our cybersecurity experts can help you plan, prepare and test your organisation's approach to cyber resilience.

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Adeline Ng, Partner, Crowe Singapore
Adeline Ng
Chia Shu Siang Crowe Singapore
Chia Shu Siang
Risk Advisory
Alvin Neo