SecurityWise: Remember to Protect Your Business Against Cyber-Attacks

08 Feb 2021

As technology continues to advance at alarming speeds, cyber-security threats and trends can change year over year. The Coronavirus Covid-19 outbreak continues to create further business challenges for jewellers, with many jewellers and other retailers seeing an increase in online purchases during the first and second lockdowns and had staff working remotely at home. 

With this in mind, both your cyber-security and website security is now more important than ever. It’s critical for businesses like yours to reassess their data protection practices with each new calendar year to help with protection from experiencing data breaches and paying costly fines under the GDPR.

We recommend that you implement the following to ensure you don’t become the victim of cybercrime:

1. Provide security training—Ensure you’ve thoroughly trained all employees on common cyber threats and how to respond. They should understand the dangers of visiting harmful websites, leaving their devices unattended and oversharing personal information on social media. Your employees should also know your cyber-security policies.
2. Install strong antivirus software—Outside of training your employees on the dangers of poor cyber-security practices, strong antivirus software is one of the best ways to protect your data. Ensure you keep the antivirus software updated regularly.
3. Instil safe web browsing practices—Deceptive and malicious websites can easily infect your network, often leading to more serious cyber-attacks. Train staff on proper web usage and to only interact with secured websites (e.g. https).
4. Create strong password policies—Effective password management protects the integrity, availability and confidentiality of an organisation’s passwords.
5. Use multi-factor authentication—adds a layer of security where users must confirm their identity by providing extra information (e.g. a mobile phone number, unique security code).
6. Get vulnerability assessments—The best way to evaluate your company’s data exposures is through a vulnerability assessment. After simulated tasks and stress testing, security experts compile their findings and provide recommendations for improving network and data safety.
7. Patch systems regularly and keep them updated—To prevent exploiting software vulnerabilities, it’s critical that you update applications, operating systems, security software and firmware on a regular basis.
8. Back up your data—In the event that your system is compromised, it’s important to keep backup files. Failing to do so can result in the loss of critical business or proprietary data.
9. Understand phishing threats—Phishing is becoming more sophisticated by the day. It’s critical to train and update employees on common phishing scams and other cyber-security concerns. Providing real-world examples during training can help them better understand what to look for.
10. Create an incident response plan—While cyber-security programmes help secure an organisation’s digital assets, cyber-incident response plans provide clear steps for companies to follow when a cyber-event occurs. Response plans allow organisations to notify impacted customers and partners quickly and efficiently, limiting financial and reputational damages.

TH March’s cyber insurance offering can form a key part of your defence in the event of an attack.

Arranging cyber insurance cover via TH March can go a considerable way to mitigate the risks and threats to your business. Our qualified team will provide a tailored solution, specific to your business type and budget.

SecurityWise is a joint TH March and NAJ campaign aiming to raise awareness, increase knowledge and improve security throughout the jewellery trade. As insurance brokers, we can offer advice on risk management and security as well as your insurance policy cover.

Find out more about TH March Partnership benefits 

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Source: TH March