Have You Heard These 5 Cyber Security Myths?

October is National Cyber Security Awareness Month, and Better Business Bureau is educating small businesses on the threats of cyber security and how they can best protect themselves.

BBB’s new State of Cybersecurity landing page reveals findings from recent research surveying 1,500 businesses through North America on their levels and understanding of cyber security.

From the results of the first part of an ongoing research series, BBB was able to find five common myths about cyber security:

1. Smaller businesses are not at risk for cyber-attacks. In reality, one in four small businesses are affected by cyber-attacks each year. In fact, 60% of all cyber-attacks happen to small businesses, costing an average of $7,115 annually.
2. Smaller business owners can’t protect themselves against cyber-attacks. Our research shows more than six out of 10 small businesses have a plan in place to help protect them in the event of a cyber-attack. While completely eliminating threats is not possible, small businesses can do multiple things to protect themselves like: having a security strategy in place, acquiring insurance and having IT in charge of data security.
3. A lack of resources is the number one reason businesses don’t invest in cyber security efforts. Our findings reveals that a lack of expertise and understanding is the top reason businesses don’t invest in cyber security efforts. Additional education, direction and awareness efforts focused on small businesses are needed.
4. If a small business is hit by a cyber-attack, their financial institution will cover their losses. It’s true that four out of ten business owners believe their bank would cover a substantial loss if credentials were stolen. However, the burden of proof lies with businesses, not banks, when it comes to cyber incidents. For businesses whose business banking accounts were hacked, the average loss was $32,021.
5. If a substantial block of data was stolen from a small business, the business should call an attorney first. The first thing a small business will do is notify those affected (e.g., customers, employees, vendors) by the data breach. It is particularly important for small businesses to contact customers; research shows that eight out of ten consumers are likely to walk away from a purchase if a business fails to keep their data safe. Businesses should have a plan in place before a breach occurs, including contacting their bank, attorney and BBB.

BBB has partnered with the National Cyber Security Alliance to help bring businesses educational tips and resources. Check out our website!

To learn about protecting you and your family’s personal information, visit Lock Down Your Login. BBB has partnered with The White House and other cyber security organizations to encourage better cyber security for consumers.

For more information, follow your BBB on Facebook, Twitter, and at bbb.org.

This post was written by your BBB Serving Central Ohio's Content & Communications Coordinator, Jordan Abbruzzese.

10 Simple Ways Your Business Can Increase Cyber Security

All too often, we turn on the news or open local papers to see stories about an online breach or compromise. Stolen identities, hackers and computer viruses are common--and scary. With all of the bad we hear, it’s easy to have a negative image of cyber security.

Thankfully, cyber security is a good thing that can help protect you, your business and your family! October is National Cyber Security Awareness Month, and BBB is working hard to bring both businesses and consumers tips on how to secure online information.

Here are 10 simple ways businesses can create better cyber security:

1. Keep your office machines clean. Whether it’s mobile devices, tablets or laptops, make sure all security software is current and up-to-date. Having the latest software on all devices can be one of the best defenses against online threats.
2. Have a backup system. If possible, protect precious information in multiple ways. For example, backup your files on a hard drive and keep it locked up each night.
3. Protect personal information. Shred all statements and applications you get in the mail that you don’t want to keep.
4. Change passwords for all online accounts regularly. When changing your password, make it long and strong with a mix of upper and lowercase letters, numbers and symbols. By keeping various passwords on your accounts you, lessen the risk of multiple accounts being compromised.
5. Connect with care. Be wary of using free and public Wi-Fi, especially with your business information. Free Wi-Fi may be convenient, but also makes it easier for malicious hackers to access your files.
6. Check your bank statements and credit report. Read your bank statements monthly and check your balance weekly to make sure no unauthorized transactions have been made.
7. Stay informed! Keep up with new ways to stay safe online and share them with your employees. Cyber security is a full company effort.
8. Steer clear of suspicious texts, emails and links. Unsolicited emails and pop-up ads can be full of computer viruses designed to steal usernames and passwords from your computer. Don’t give in to curiosity; close or delete the message.
9. Encourage your employees to come forward if they have made a mistake--human errors do happen. Create a culture where employees feel like they can be open about cyber security. The earlier a breach is detected, the sooner you can work to fix it.
10. Report it. If your identity has been stolen or you have lost money, contact your bank, local law enforcement, Better Business Bureau and the FBI.

BBB has partnered with the National Cyber Security Alliance to help bring businesses educational tips and resources. Check out our website!

To learn about protecting you and your family’s personal information, visit Lock Down Your Login. BBB has partnered with The White House and other cyber security organizations to encourage better cyber security for consumers.

For more information, follow your BBB on Facebook, Twitter, and at bbb.org!

This post was written by your BBB Serving Central Ohio's Content & Communications Coordinator, Jordan Abbruzzese.