Have you recently set up a new business online? Are you looking forward to helping your customers?
Great stuff! However, in 2024, you need more than great customer service and organizational skills to succeed in the world of online business. As you may be aware, many businesses have succumbed to hacks or data breaches over the last few years, meaning that this is a real threat that every online business has to be prepared to come up against.
Don’t panic, though! There are many ways to protect your business and customers from cyber threats and in this article, you will be walked through how you can protect your business emails from coming under the attack on digital thieves. So, enjoy!
What is A Cyber Threat?
To start with the obvious, what is a cyber threat?
It is an attempt by hackers to damage or gain access to computer systems, usually business systems, via digital means. The aim of the attacks is different; some of them are financial, some of them are to access information and others are to shut down or to stop a company from functioning, causing secondary costs and damages.
Many people have heard of cyber threats, as they fall under the grouping of malware, phishing emails or messages, denial-of-service attacks, and man-in-the-middle attacks. So, there isn’t just one way for a potential hacker to get access to your business information and, as security systems have become more sophisticated, with many offering managed detection and response systems, or MDR, the thieves have gotten more sophisticated too.
So, you need to ensure that your business, in general, is protected to the best of your ability.
Costs To Businesses in 2024
You may be new to the world of business and may not see the threat that is posed by cyber threats. So, to help you see the implications, here are some sobering figures.
It is estimated that annually, cybercrime and cyber threats cost businesses $10.5 trillion, which is a figure that has tripled in the last 10 years. An average data breach costs around $4.45 million, which includes the cost of detection, escalation, and notification of the breach, as well as the responses that were needed to secure the data afterward.
Now, ransomware has an average cost to businesses of around $570,000, and cyber incidents that require operational downtime, such as the unplugging of servers and shutting down of emails, cost businesses an estimated $64,000 per hour. So, is it worth paying a little extra to make sure your emails are safe? It seems so!
Why Are Emails a Target?
Many people make the mistake of assuming that the only area of a business that will be attacked is the financial accounts. However, have you recently tried to log on to your personal bank account without any of the required information? It’s practically impossible to get past the basic login page!
Emails are a target for cyber threats for many reasons.
For one thing, almost everyone has at least one email address and, while emails are often password-protected, they are easier to hack than accounts. Also, if there is a team of cyber criminals looking to get access to information about multiple businesses at once, the easiest way to do so is via business email addresses.
Also, your business email will usually contain client contact information, especially if you have a newsletter. This then makes any business an appealing prospect, as client emails can also be hacked to get access to financial information. Ergo, it is well worth making sure that any business emails that are connected to financial accounts or emailing lists are protected.
How To Protect Your Business Emails
So, what are some of the best ways to protect your business emails from external infiltration?
1. Have A Strong Security System Set Up
You need to ensure that you have a strong security system set up, which covers all the bases of your business.
This means that when you or a member of your staff log in to the email account(s) linked to your business, it is password protected, or it is linked to the swiping of a card. The plus of the card-based system (along with the base security system) is that it allows you to monitor who is logging in, and when they are doing so too.
If you aren’t sure which kind of security system you need, try to choose a provider who will offer you an assessment of your online systems to get an idea of the weak areas that need a bit more protection.
2. Use A Trusted Email Provider
Who is your business email provider?
In 2024, there are so many email providers to choose from that it may just seem logical to go with the one you know. However, a business email address and a personal email address are not the same thing and as such, for the former, it is best to look into encrypted email addresses that can offer additional security to all of the information you are entering and sending.
3. Use Encryption Software
Speaking of encryption, when you are sending those emails to clients, you will want to ensure that all of the data is encrypted. Suppose a hacker were to attempt to open an email you sent to a client last Friday; if it was encrypted, it would appear as a system of dashes and dots. This protects information and ensures that only the intended recipient gets to see and read the email.
4. Set Up Muti-Factor Authentication
Can you log on to your business email by entering a single password? That’s not a great system!
Many security systems prioritize multi-factor authentication, which means you need to enter a password, have a one-time-access code/password sent to an associated email or phone number and even go through facial recognition or fingerprint authentication to access the information in the emails. Now that’s secure!
5. Educate Your Staff
Lastly, you need to train your staff.
If you have recently had a new security system put in, they need to know all about the access codes, as well as being put onto the system to access the information required for them to do their job. However, they also need to be trained in detecting cyber threats, as well as what to do if they suspect one.
