The Federal Deposit Insurance Corporation (FDIC) has outlined practical tips that every business should follow to strengthen defenses and reduce risk. This Cybersecurity Awareness Month, we’re highlighting some of the most important measures you can take to protect your business.
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1. Secure Your Computers and Networks
Install reputable security and antivirus software to guard against malware. Keep these tools updated and set them to run scans automatically after updates. If your business uses Wi-Fi, make sure it’s encrypted and secured with strong passwords. Firewalls are another essential layer of defense to prevent unauthorized access.
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2. Strengthen Authentication
Require employees to use strong, unique passwords that include a mix of letters, numbers, and symbols. Encourage regular password changes and, whenever possible, implement multi-factor authentication (MFA) to enhance security. This adds an extra layer of security beyond just a password.
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3. Control Access to Sensitive Data
Limit access to business computers and data to authorized individuals only. Each employee should have their own user account, and only those who truly need administrative privileges should have them. Laptops and other devices should be locked up when not in use, as they are common targets for theft.
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4. Train Your Employees
Your team is your first line of defense. Establish clear cybersecurity policies, set expectations, and educate employees on safe internet use. Train them to avoid suspicious links and attachments in emails, and teach them how to recognize phishing attempts. Remind them that connecting through public Wi-Fi can put the entire business at risk.
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5. Stay Up to Date with Patches and Updates
Software companies regularly release updates to fix security flaws. Enable automatic updates whenever possible so your systems stay protected without delay.
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6. Backup Your Data
Regularly back up important files and systems. Store backups securely, ideally in a separate physical location or in a trusted cloud service. Apply the same security measures—such as encryption—to your backups as you do to your primary systems.
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7. Monitor Financial Activity
Cybercriminals often target business bank accounts through scams like account takeovers or Business Email Compromise (BEC) schemes. Put controls in place, such as confirmation calls before authorizing transfers, and monitor your accounts closely for unusual activity. Remember—business accounts may not be covered under the same federal protections as consumer accounts.
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8. Secure Mobile Devices
Smartphones and tablets can be easy entry points for criminals. Require employees to use strong passwords, enable encryption, and install security apps. Establish a clear reporting process for lost or stolen devices.
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9. Watch for Fraudulent Transactions
Scams can take many forms, from worthless checks to fraudulent returns. Protect your business with the right insurance coverage and report irregularities right away.
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10. Keep Learning
Cybersecurity is an ongoing effort. Stay informed with resources like the “Stop. Think. Connect.” Small Business Resources provided by the Department of Homeland Security: https://www.dhs.gov/publication/stopthinkconnect-small-business-resources.
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Building a Culture of Cybersecurity
Protecting your business requires more than just software—it takes a culture of awareness and responsibility. By implementing these practices, you not only safeguard your company but also protect your employees, your customers, and your community.
At Security Bank, we are committed to helping local businesses grow with confidence. Cybersecurity is part of that commitment.
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Source: Federal Deposit Insurance Corporation. A Cybersecurity Guide for Businesses (FDIC-019-2016)
