Top 10 Cybersecurity Best Practices for SMBs

Intro

In today's digital age, cybersecurity is not just a concern for large corporations but a critical component of success and survival for small and medium-sized businesses (SMBs) as well. With cyber threats evolving at an unprecedented pace (34 new adversaries, 75% cloud environment intrusions increased from 2023 to 2024 -- more data below), it's essential for business owners, especially those who may not be tech-savvy, to understand and implement robust cybersecurity measures. In this blog, we aim to demystify cybersecurity practices, providing you with a practical guide to protecting your business from cyber threats. From developing a comprehensive cybersecurity plan to choosing the right partners and solutions, we'll walk you through top strategies tailored for SMBs. Our goal is to empower you with the knowledge and tools needed to secure your digital assets and maintain the trust of your customers, ensuring your business thrives in the face of online threats. These are practices we use on a Daily/Weekly/Monthly basis to protect our clients.

Threat Landscape

As was the case in 2022 and 2023, ransomware continues to be a preferred method for significant cybercriminal groups, yet data-theft extortion has become a compelling and frequently simpler way to generate revenue. This trend is highlighted by the 76% rise in the count of victims listed on dedicated leak sites (DLSs) specific to these groups from 2022 to 2023. Furthermore, access brokers, who facilitate initial entry points for cybercrime entities, saw their business flourish, with a 20% increase in the number of access opportunities advertised from 2022. Below you can see the Interactive Intrusions by Region for 2023:

-- Data and map provided by CrowdStrike-281obq266

Initial Breakout Time

Upon initially breaking into a business network, attackers try and aim to expand their access by moving from the initially compromised system to other systems within the network. This process, known as "lateral movement" or "breakout," is critical as the first system compromised is often not their final target. Instead, attackers need to navigate (rather quickly) through the network to find and access valuable data or systems. The duration of this breakout phase is vital; responding quickly to an attack within this timeframe enables defenders to significantly reduce the impact and costs of a breach.

Over the past year, the average time it took for attackers engaged in interactive eCrime to move laterally within a network has reduced from 84 minutes in 2022 to 62 minutes in 2023, with the quickest recorded breakout occurring in just 2 minutes and 7 seconds. This highlights one of the most important elements of the overall Information Security posture which is having an Incident Response Plan.

What can businesses do to stay secure?

1. Conduct Regular Cybersecurity Training: It is important to educate your employees about the importance of cybersecurity. This education can go beyond just them at work, helping them keep their personal data secure as well when at home. Regular training sessions can help them recognize phishing attempts, understand safe internet practices, and know how to handle sensitive information properly.

2. Implement Strong Password Policies: Use complex passwords. We truly understand that it is rather difficult to remember complex and not repeated password, but a breach can cost much more (Please consider using a Password Manager solution if it is feasible and, in your budget,). Consider utilizing multi-factor authentication (MFA) for an added layer of security. In fact, if you are using any solutions that do not offer MFA, you should question their security practices, especially if that solution provider stores your company's data.

3. Keep Software and Systems Updated: Ensure that all software, operating systems, and applications are kept up to date with the latest patches. Cyber attackers often exploit known vulnerabilities that patches can fix. This is an item that your Technology Provider should ideally handle.

4. Use Advanced Threat Protection Solutions: Deploy the new security solutions such as antivirus software, firewalls, email filtering, and most importantly, an EDR solution (Endpoint Detection and Response) to protect against malware, ransomware, and other threats. A technology partner can recommend and implement the best solutions for your specific needs.

5. Back Up Data Regularly: Regular backups of critical data can be a lifesaver in the event of a cyber-attack. This goes back to the previous paragraph where we touched up on Incident Response Plan. We recommend to store backups in a secure, off-site location or use a cloud service recommended by your technology partner.

6. Develop and Test a Disaster Recovery Plan: Having a plan in place ensures that your business can quickly recover from a cyber-attack. Work with a technology partner to develop and regularly test your disaster recovery strategies.

7. Secure Remote Access: With the increase in remote work, ensure that remote access to your network is secure. Use virtual private networks (VPNs) and secure Wi-Fi connections, and ensure remote devices are as secure as in-office equipment.

8. Monitor and Manage Access Controls: Limit access to sensitive information to only those who need it. Use user roles and permissions to control access and monitor for unusual access patterns or unauthorized attempts.

9. Stay Informed About Latest Cyber Threats: Stay updated on the latest cyber threats and trends. Your technology partner can provide insights and updates, helping you adjust your security practices accordingly.

10. Ensure Compliance with Relevant Regulations: Depending on your industry, there may be specific cybersecurity regulations and standards you need to comply with. A technology partner with expertise in these areas can help ensure that your business meets all necessary requirements.

Navigating the Digital Waters Together

In the vast ocean of digital threats, navigating safely requires not just awareness but a steadfast partner who can guide you through turbulent waters. As a dedicated Technology and Information Security services provider, we understand the challenges and complexities that small and medium-sized businesses face in today’s cyber landscape.

We believe in empowering businesses not just with knowledge, but with actionable solutions tailored to the unique needs of the businesses.

Your journey towards cybersecurity resilience begins with a single step. Reach out to us today, and let’s take that step together. We offer a FREE risk assessment of your technology footprint.

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