Protecting Your Business From Cyberattacks

Your time in the military has taught you how to stay prepared. Now, as a business owner in the digital age, you can use that same mentality to protect your business from cyberattacks. Businesses face digital threats every day, but many can be stopped with a few simple steps. 

Like in the military, success comes from having a solid plan and staying ready. Your business is worth protecting, and you have the skills to do it well.

Get familiar with common cyberattacks

Cybercriminals use several common tactics to exploit businesses’ vulnerabilities. Knowing what you're up against helps you stay one step ahead. Once you understand their playbook, you can build better defenses. Here are a few of their most common schemes:

• Phishing attacks continue to be one of the most common cybersecurity threats. These happen when cybercriminals send fake emails that look like they're from banks, suppliers or other trusted sources. They're trying to trick you or your employees into sharing passwords or clicking dangerous links.
• Ransomware is a type of malicious software that cybercriminals use to lock up your computer files or block access to your system and demand payment to unlock them. They often get in through email attachments or unsafe websites. Businesses are popular targets because bad actors think they'll pay quickly to get back to work.
• Malware and viruses can sneak onto your computers and steal information or slow down your systems. They spread through malicious downloads, corrupted email attachments or infected websites.
• Business email compromise happens when bad actors gain access to your email and pretend to be you. They might ask employees to send money or share sensitive information. This type of imposter scam is also possible via texting and social media.

The good news is that many cyberattacks can be stopped with basic security measures. Businesses that take simple protective steps could reduce their risk significantly. Most cybercriminals look for easy targets, so they often move on when you show you're prepared.

Audit your business's current cybersecurity

Before you can take steps to protect your business from cybercrime, you need to get the lay of the land. Auditing can help you identify weak spots (and strengthen them) before someone else finds them. Here are some important steps to take as you begin this process.

Step 1: Start by asking simple questions

What confidential information or sensitive data would hurt your business if stolen? Where do you keep customer information, financial records or business plans? Which computers or devices connect to your important files? Write down your answers so you have a clear picture.

Step 2: Look at your current security

Check if all your software gets regular updates. See if your employees use strong passwords or share login information. Take note of which websites and apps your team uses for work and inventory where your critical data lives.

Step 3: Identify your most important assets

Think about what would impact your business the most if it disappeared or was stolen. Your customer list, financial information and business plans need the strongest protection. Focus your security efforts on protecting these critical pieces first.

Step 4: Review third-party connections

These connections include your internet connection, cloud storage services, payment systems and any vendors who access your systems. Ask them about their security practices. Make sure they meet your standards before you share sensitive information.

During this review, many businesses find areas that need better protection. That's normal—and fixable. The goal isn't perfection right away; it's understanding where you stand so you can make smart improvements.

5 cybersecurity best practices for protecting your business

Now that you know where you stand, it's time to build your defenses. These five practices can help protect your business from cyberattacks.

1. Create and share clear cybersecurity policies 

Your team needs to know what's expected when it comes to cybersecurity. The best way to do that is with simple, clear policies. Start by writing down basic rules that cover password requirements, email safety and how to handle sensitive information. Think of it as creating a playbook that everyone can understand and follow.

Keep your policies straightforward. Focus on the most important rules, like never clicking suspicious links or downloading files from unknown sources. Make sure these policies are easy to find and review them with employees regularly. As your business grows and you learn about new threats, update them to stay current.

2. Train your team to spot and stop cyberattacks

Your employees can be your best defense against cyberattacks. Regular training can help them recognize phishing emails, suspicious websites and other common tricks bad actors use. When you show them what to look for, they can become much better at protecting your business.

Make this training practical and hands-on. Send practice phishing emails to see how your team responds, and celebrate when they report suspicious activity instead of falling for it. This isn't about catching people making mistakes; it's about educating employees so they can build good habits. Schedule cybersecurity talks during regular team meetings so it stays fresh in everyone's mind.

3. Automate advanced protections (including multi-factor authentication)

The right tools can catch threats that might slip past even the most careful employees. Start with antivirus software on all computers and keep it updated. Set up firewalls to block dangerous internet traffic before it reaches your systems. Consider encrypting information to protect sensitive data.

Multi-factor authentication is one of the best investments your business can make. This means that someone needs a password and a code from their phone to access important accounts. Even if bad actors steal passwords, there is an extra layer of protection. In addition, you can use password managers to help your team create and store strong passwords without needing to remember them all.

4. Back up important data regularly

Create copies of your important files at least once a week, or daily if your business moves fast. Store these backups in multiple places, including secure cloud storage and physical devices. If you store backup data on-site, make sure to also control physical access to it.

Test your backups regularly to make sure they work when you need them. Keep some backups completely disconnected from the internet so ransomware can't reach them. With solid backups in place, you can quickly get back to serving your customers.

5. Develop an incident response plan

Having a cyberattack response plan means you can act quickly instead of scrambling during a crisis. Create a simple plan that tells everyone what to do if a cyberattack happens. Include steps like disconnecting infected computers, contacting your IT support and reaching out to customers.

Assign specific roles so everyone knows their job during an emergency. Keep contact information for cybersecurity experts, your insurance company and legal help somewhere everyone can find it. Practice your plan periodically, like you would with a fire drill. The faster you respond to an attack, the less damage it can cause your business.

Get peace of mind against cyber threats

Building strong cybersecurity for your business puts you in control, and Navy Federal Credit Union is here to support business owners. Our business banking solutions can help keep your finances secure while you grow. Plus, our cybersecurity resources cover everything from staying safe while teleworking to spotting scams. You're building something great—let us help you protect it.