Cybersecurity for your business

October is Cybersecurity Awareness Month and we’ve compiled a series of information provided by the Department of Homeland Security that are appropriate to this year’s Cybersecurity Awareness Month theme: “Do Your Part. #BeCyberSmart.”

“This theme encourages individuals and organizations to own their role in protecting their part of cyberspace, stressing personal accountability and the importance of taking proactive steps to enhance cybersecurity.”

NCSAM emphasizes ‘If You Connect It, Protect It.’ Throughout October, CISA and NCSA will focus on the following areas in their promotions and outreach:

  1. If you connect it, protect it
  2. Securing Devices at Home and Work
  3. Securing Internet-connected devices in Healthcare
  4. The Future of Connected Devices

CISA – National cybersecurity awareness month

Protect it. Prevent Malware – A checklist: Seven ways to prevent malware

Malware, short for malicious software, can be a problem for anyone. While it sometimes is only a minor inconvenience with a quick fix, it can also be extremely dangerous, with malware such as “ransomware,” which can cost thousands of dollars if one pays a ransom. It is far easier to prevent malware than it is to remove it once it infects your computer. Below are some helpful tips for mitigating the risk of being infected by or falling victim to malware:

  1. Download anti-virus software
  2. Keep your operating system up-to-date
  3. Back up your data frequently
  4. Use multiple, strong passwords for your accounts
  5. Be mindful of social engineering
  6. Remove any software you no longer use
  7. Use secure connections only

From the department of homeland security resource: Federal trade commission - Malware

Security – at home and work

What are the top four threats to business owners? We dig into these risks and how to prevent them. Listen now

“The Department of Homeland Security provides resources that are available to businesses that are aligned to the five Cybersecurity Framework Function Areas.” CISA – resources for business

They include:

  1. Identify
  2. Protect
  3. Detect
  4. Respond
  5. Recover

Data protection – protecting critical infrastructure

When was the last time you thought about the effectiveness of your company's data protection program and its ability to fend off a cyber-attack? Like most business owners, especially those experiencing rapid or sustained growth, worrying about the impact of a cyber-attack that may never happen is usually not at the top of your priority list; fires need to be put out left and right. Success can often depend on the executive team's ability to ignore outside distractions and focus on the day-to-day challenges of running a competitive business.

Read More on how to protect your business: The cost of a data protection plan for your growing business

Department of homeland security resources:

“CISA’s Cyber Essentials is a guide for leaders of small businesses as well as leaders of small and local government agencies to develop an actionable understanding of where to start implementing organizational cybersecurity practices.”

Reducing an organization’s cyber risk requires a holistic approach, similar to that taken to address other operational risks. As with other risks, cyber risks can threaten:

  • Your ability to operate or access critical information
  • Your reputation and the trust of your customers and constituents
  • Your bottom line
  • Your organization's survival

CISA – Cyber Essentials

Online and mobile app banking for your business

“Banking online or through your mobile device is secure, as long as you follow best practices for keeping the information on your mobile device safe. Your financial institution may offer additional services to help you keep your account safe, including turning off your debit card if you suspect fraud. Check with your bank or credit union to learn more about additional protections they may offer.”

Consumer financial protection bureau – online and mobile banking tips for beginners

At SVB Private, In addition to our standard security controls, we recommend that you consider the implementation of the following business and technology security practices to further mitigate the risk of online fraud.

Business online banking security tips

For more information on preventing threats visit our Security & Fraud Prevention center.

Learn more

Sebastian Leburn, CFA®

Sebastian Leburn has expertise in investment leadership, including portfolio design, strategy and management. Sebastian serves on the firm’s Investment Policy Committee.

The views expressed in the article are those of the author and/or person interviewed and do not necessarily reflect the views of SVB Private or other members of Silicon Valley Bank and SVB Financial Group. The materials on this website are for informational purposes only, are subject to change and do not take into account your particular investment objective, financial situation or need. Since each client’s situation is unique, you should consult your financial advisor and/or tax planning professional before acting on any information provided herein