9 Low Cost Ways to Improve Your Cyber Security

The year 2022 brought a significant awakening to Australians concerning their cybersecurity stance. While cyberattacks on major entities like Optus and Medibank weren’t the country’s first, they showcased the magnitude of impact breaches could have on individuals. The Bureau of Statistics had already reported fending off nearly a billion attacks on census day in 2021. These incidents highlighted the urgent need for leaders of both large and small businesses to take up the responsibility of safeguarding their employees, customers, and the broader community.

For businesses, cybersecurity has become a critical frontline battle, even without the substantial budgets of major players like Optus. If you find cybersecurity daunting due to budget constraints, take heart. There are cost-effective strategies you can adopt right now to bolster your security measures and enhance protection. Here, we’ve compiled a list of pivotal actions you can tackle now.

1. Streamline Windows Updates

One very simple way to make sure updates happen is to schedule them to run automatically. Why? Updates close down known vulnerabilities and make your systems more secure, but they can only do that if they are performed promptly. Automating this process simplifies maintenance.

2. Leverage Defender for Endpoint

While many organisations invest in third-party antivirus solutions, Microsoft 365 Premium plans have included Defender for free since early 2022. This built-in option often provides superior security across various operating systems without breaking the bank.

3. Embrace Multi Factor Authentication (MFA)

Simple to implement, and among the most powerful protective measures, MFA is one of the best things you can add to improve security. Just about every application now offers MFA, from Facebook to your bank, adding a layer of defence at no extra cost. Consider enforcing MFA or at least having it as the default option in all of your systems to deter intruders effectively.

4. Activate Security Functions in Microsoft 365

Maximise the security capabilities bundled with your Microsoft 365 license. Tools like Secure Score provide valuable insights, offering a security rating and prioritised actions to enhance it. Some tasks might require expert assistance, and TechPath can guide you through any potential consequences of new feature activations.

5. Harness Free Password Managers

In spite of everything, passwords are still one of the big security weaknesses. Passwords must be unique, sufficiently lengthy, and complex to be effective. The problem is, we are human and can only remember so much – which means that very simple, easily guessed passwords are still common. Microsoft Authenticator now includes a password manager free, and there are excellent alternatives such as LastPass, which have both free and paid versions – for the relatively low cost, you get some very useful features like secure password sharing. Whichever you choose, a password manager makes easily guessed passwords a thing of the past.

6. Bolster Business Processes for Accounts Payable and Payroll

We’re seeing a massive number of fraud cases, with some businesses losing enormous amounts of money. Just recently, we encountered a small business that lost $800k. Never pay an invoice or wages for the first time, or to a new account, without verifying the details via a call to a trusted number, so you can be sure the money doesn’t end up in the wrong account. It is best to build this verification procedure into your accounts payable processes.

7. Prioritise User Awareness Training

While Microsoft offers a free version, a minimal investment in the paid version pays off in cultivating a cyber-aware workforce. Elevating your team’s knowledge about cyber threats fosters a culture of responsibility. Such training identifies vulnerabilities, enabling targeted support where needed.

8. Implement Least Privilege

Restricting admin rights minimises the damage potential in case of a breach. Even at TechPath, staff don’t possess admin rights within their standard accounts. Enforcing separation between core systems and malicious actors is paramount.

9. Safeguard Your Data through Backup

In the event something happens, your backed up data is likely your only way out of trouble. Nobody wants to find themselves negotiating with criminals, and there is every chance that not all data will be returned, or usable – when cybercriminals encrypt data, for example, they aren’t known for taking care not to break something, so at bare minimum, you are likely to need time to rebuild systems, and you could be offline for days. Testing your backups is key. The trick is to have backups offline or on a completely separate system, so that your backed up data cannot be encrypted by hackers.

By implementing these measures, you fortify your business against potential threats and enhance your readiness to manage breaches. As cyber-insurance companies demand evidence of sound security practices, preparing your organisation to demonstrate active risk management is essential. Regular security reviews offer substantial value and expertise at a reasonable, fixed cost, validating your commitment to safeguarding your organisation, its stakeholders, and customers.

Want to learn more about tightening security and minimising risk? Chat to the TechPath experts, or follow us for more business tips.