Cyber-Security 5 Steps to Protect your Business

December 19, 2016 10:42 am
posted by

posted within Continuous Improvement, General

Cyber-Security for Manufacturers

5 Steps to Protect your Business

Cyber-crime is a very real threat to businesses. Small businesses are particularly in danger, since they may not have the ability to overcome the cost of a data breach, which averages $38,000 for small companies[1].

While attending a recent meeting with a group of small business owners, the presenter asked the group if anyone in the room had experienced a cyber-security threat or personal identity theft. I was shocked as nearly every person in the room raised their hand, even though my own hand was one of them.

I have heard many stories in the news. I have been one of the many thousands of people who have had their information stolen through a large corporate data breach… or two. I have had my personal credit cards stolen and used to make crazy purchases in other countries. And yet, I was still so naive. I knew that this was happening but I had not really taken the threat seriously.

Until one by one the business owners in the room began sharing their experiences. Listening as each attendee shared their cyber story was eye opening.

One individual spoke about how money was simply transferred out of the business bank account and sent overseas. What started out as a small transfer … to test the waters … grew to thousands of dollars hurled through the internet to an untraceable location within hours.

It’s no wonder that “it is estimated that more than half of the companies who experience a cyber-attack end up going out of business within six months”[1].

No business is too small to be a target. We are all targets and we have to take this threat seriously and protect ourselves and our businesses.

Here are 5 Steps to Reduce Cyber Risks

 

[1] Cybersecurity Framework Steps for Manufacturers