How to Protect Your Business from Cybersecurity Threats in 2023

Cybersecurity is the practice of protecting critical systems and sensitive information from digital attacks. Also known as information technology (IT) security, cybersecurity measures are designed to combat threats against networked systems and applications, whether those threats originate from inside or outside of an organization.

Cybersecurity is not only a technical issue, but also a business issue. In 2020, the average cost of a data breach was USD 3.86 million globally, and USD 8.64 million in the United States. These costs include the expenses of discovering and responding to the breach, the cost of downtime and lost revenue, and the long-term reputational damage to a business and its brand.

Cybercriminals target customers’ personally identifiable information (PII) — names, addresses, national identification numbers (e.g., Social Security number in the US, fiscal codes in Italy), and credit card information — and then sell these records in underground digital marketplaces. Compromised PII often leads to a loss of customer trust, the imposition of regulatory fines, and even legal action.

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To protect your business from cybersecurity threats in 2023, you need to have a strong cybersecurity strategy that covers the following domains:

• – Critical infrastructure security – Practices for protecting the computer systems, networks, and other assets that society relies upon for national security, economic health, and/or public safety. The National Institute of Standards and Technology (NIST) has created a cybersecurity framework to help organizations in this area, while the U.S. Department of Homeland Security (DHS) provides additional guidance.
• – Network security – Security measures for protecting a computer network from intruders, including both wired and wireless (Wi-Fi) connections.
• – Application security – Processes that help protect applications operating on-premises and in the cloud. Security should be built into applications at the design stage, with considerations for how data is handled, user authentication, etc.
• – Cloud security – Specifically, true confidential computing that encrypts cloud data at rest (in storage), in motion (as it travels to, from and within the cloud) and in use (during processing) to support customer privacy, business requirements and regulatory compliance standards.
• – Mobile device security – Security measures for protecting mobile devices such as smartphones and tablets from unauthorized access, malware, theft, or loss.
• – Working remotely security – Security practices for ensuring that employees who work from home or other locations outside the office can access organizational resources securely and without compromising data or systems.
• – Public Wi-Fi security – Security precautions for using public wireless networks such as those found in airports, cafes, or hotels. These networks are often unsecured and vulnerable to eavesdropping or hacking.
• – Social media security – Security guidelines for using social media platforms such as Facebook, Twitter, or LinkedIn. These platforms can expose personal or professional information that can be exploited by cybercriminals or competitors.
• – Internet and email security – Security rules for browsing the web and sending or receiving emails. These activities can expose users to phishing attacks, malware infections, spam messages, or identity theft.
• – Social engineering security – Security awareness for recognizing and resisting social engineering attacks. These are psychological manipulation techniques that cybercriminals use to trick users into divulging sensitive information or performing malicious actions.
• – Security at home – Security tips for securing personal devices and networks at home. These can include using strong passwords, updating software regularly, installing antivirus software, backing up data, etc.

By implementing these cybersecurity domains in your business strategy, you can reduce the risk of cyberattacks and protect your valuable assets and reputation. Cybersecurity is not a one-time effort, but a continuous process that requires constant vigilance and adaptation to changing threats.

If you need more help with cybersecurity solutions for your business, you can reach out to info@strikecybersecurity.com