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July 31, 2019

What To Do In The Event of a Cyber Attack on Your Business in Los Angeles

Has your business been hacked in the past 12 months? Cyber criminals have been ramping up attacks against small to mid-size businesses in Los Angeles, knowing that most of them lack the security expertise, data protections, and response tools that large companies have at their disposal.

“Nowadays, every company with an internet connection is a potential victim… (E)ven the smallest businesses now have to worry about network security and protection — when they didn’t have to worry so much only five years ago,” said Dr. Paul Judge, vice president and Chief Research Officer of Barracuda Networks.

Consumers can usually move on from the initial fury of the first hacking incident, but they’ll likely move their business elsewhere if it happens again. Although you can’t guarantee you won’t ever get hacked again, you can lower the risk considerably by knowing what to do In the event of a cyber attack with these tips.

#1. Revisit your IT security plan

Learn as much as you can from the experience and figure out why and how you were targeted. Was the attacker trying to gain access to certain information, disrupt business, or take over systems to enact a larger attack? Having a better understanding of the motivation for the breach can help you formulate an improved IT security plan. Make sure you have layers of cybersecurity to protect your information:

  • Firewalls and anti malware software
  • Automatic software updates
  • Identity and user access controls
  • Data and email encryption
  • Email spam protection
  • Strong, non-repetitive passwords for every account
  • Multifactor authentication (e.g., One-time password sent to a mobile device, fingerprint scan)
  • Virtual private network
  • Tracking apps with device-wiping capabilities for lost or stolen mobile devices
  • Review of privacy and security settings of office devices

#2. Invest in vulnerability detection and remediation tools

A Ponemon Institute research revealed that the faster a breach is identified and contained, the lower the costs the company incurs. Companies that detect a data breach within 100 days save $1 million and those that are able to contain it within 30 days save $1 million more in expenses than others that took longer. That’s why companies need to invest in scanning and remediation technologies that allow a much faster response and higher chance of catching  vulnerabilities that can be the root cause of breaches.

#3. Form a cyber incident response team

The sooner your organization responds to a cyber hacking incident, the more money you can save. In fact, the same Ponemon Institute study showed a $14 per record cost reduction or an average of $400,000 saved during a breach for companies that had cyber incident response teams during the crisis that knew what to do In the event of a cyber attack. Make sure to establish a cyber incident response team so your business can respond quickly and calmly if faced with another crisis.

#4. Create a backup and disaster recovery (BDR) plan

After a cyber attack, you have to limit downtime costs and get the business back up and running as quickly as possible. You can only achieve this if you have a robust BDR plan.

In data backup, you duplicate your data so you can easily retrieve it in case the original data is lost. In data recovery, on the other hand, you salvage lost, inaccessible, damaged, or corrupted data.

With proper planning and testing, your BDR strategy will roll into action and quickly bring you back to normal business operations.

#5. Consider a cyber insurance policy

“Policies can be purchased from most major insurance carriers for between $5,000 and $10,000 per $1 million in protection,” says Mark Greisiger, president of NetDiligence, a cyber risk management firm. These generally cover legal and forensic fees, customer communication costs, and court costs related to civil litigation and class actions. What’s more, many policies also come with access to online portals that let you connect immediately with IT security experts you’ll need.

Let Frontline improve your defenses against cybersecurity attacks. We’ll identify and fix the root cause of your network’s vulnerabilities. Our team of experts have a suite of protection tools to secure your business in Los Angeles. End your worries by scheduling a consultation with us.

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