In the slipstream of the Covid-19 crisis, the threat of cybersecurity is on the rise. The pandemic has resulted in more people working from home, bringing with it a new wave of cyber risks. This, coupled with the introduction of new cyber security laws across APAC and changes to data protection rules, has propelled organizations to actively review their cybersecurity and data management practices.

We want to help make a difference when it comes to cyber security for businesses. Here, we share some of the most practical cyber security tips that businesses should consider today. These include the following:

Remote Working is Not a One-Time Thing

The general trend suggests a continued increase in working from home arrangements moving forward. With that said, one of the biggest challenges for businesses is ensuring sufficient IT support for infrastructure and people. In this remote work structure, businesses open themselves to security vulnerabilities with limited internal resources. Unsurprisingly, teams that are stretched thin typically cut corners, failing to adhere to the same standards in an office setting.

Clearly, this is a matter beyond simply having more IT people on the ground and improving network security or implementing monitoring tools. Businesses need to ensure that they have proper policies in place. Additionally they should invest time for educating and training the workforce regarding proper security protocols. This helps minimize the threat of a cyber-incident when working remotely.

Incidents and Breaches Are On the Rise

Increased cyber incidents are affecting businesses. Attackers continually seek for ways to benefit from potential weakness in network systems and exploit uncertainty created by the current climate. Indeed, ransomware attacks are growing sophisticated with cyber criminals  stealing and encrypting a large amount of valuable data (as well as blocking access to systems), for leverage.

This is particularly concerning for organizations relying on Big Data as a key business driver and industries operating in sectors that use more sensitive data sets. In response, cybersecurity and privacy regulators in the APAC region have introduced stricter cyber incident and data breach reporting requirements. This move offers added regulatory compliance element to consider when managing cyber incidents.

Businesses of all sizes need to consider the real possibility of falling victim to a cyberattack. As such, they should ensure availability of detailed and robust incident management procedures and response teams  to minimize any resulting negative impact.

A Cybersecurity Strategy is Important

The reality is that a proper cybersecurity program helps ensure businesses remain functional and operational. This is particularly applicable in the current climate where reliance on connectivity and technology is paramount. However, cybersecurity has historically been neglected. The C-suite struggle to balance significant security expenditure with the economic benefits for the business. Moreover, the return on investment seems often unclear.

In practice, this often comes down to managing the current and future risks in the most cost-efficient way and adopting appropriate mitigation strategies. Ultimately, businesses that adopt/implement a compliant strategy in line with cybersecurity laws and regulations are better prepared to address future disruptions.

Revisiting Data Privacy Compliance

APAC is unique for organizations operating in the region that need to comply with various and differing data protection regimes. Moreover, regional data compliance programs are regularly reviewed and updated to take into account recent changes in data laws across APAC. Specifically, these changes relate to data localization, overseas data transfers, and security measures.

Businesses should keep in mind that APAC data regimes generally support business growth. More specifically, compliance is often advantageous to help facilitate more innovative data analytics and commercialization activities.

Data Protection in the Age of Cybercriminals

It is imperative for businesses to safeguard their data at all times from cybercriminals, who compromise business’ infrastructures by stealing valuable data. Therefore, you must come up with appropriate measures that help you withstand attacks and protect your valuable data. In our customer-centric business world, the business that protects data from cybercriminals is the attractive first choice for customers.

Customers want to see that a business that invests in protecting information from bad actors.  Any business that fails to provide adequate data protection will likely lose customers.

Conclusion

Cybercriminals are constantly finding new ways that disrupt businesses. Subsequently, businesses should develop strategies to protect their infrastructure from cyberattacks. Consider our cyber security insight to help strengthen your defenses today.

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