10 Tips for Reducing Cyber Liability Threats

1. Protect against viruses, spyware, and other malicious code. Make sure all computers are equipped with antivirus software and anti-spyware and updated regularly.
2. Secure your networks: Safeguard your Internet connection by using a firewall and encrypting information. Make sure your Wi-Fi network is secure and hidden.
3. Establish security practices and policies to protect sensitive information: Establish policies on how employees should handle and protect personally identifiable information and other sensitive data.
4. Educate employees about cyberthreats and hold them accountable: Deter employees from introducing competitors to sensitive details about your firm's internal business by informing them about how to post online in a way that does not reveal any trade secrets to the public or competing businesses.
5. Require employees to use strong passwords and to change them often: Consider implementing multifactor authentication that requires additional information beyond a password to gain entry.
6. Employ best practices on payment cards: Work with your banks or card processors to ensure the most trusted and validated tools and anti-fraud services are being used. Do not use the same computer to process payments and surf the Internet.
7. Make backup copies of important business data and information: Regularly backup critical data on all computers and store in the cloud or offsite.
8. Control physical access to computers and network components: Prevent access or use of business computers by unauthorized individuals. Make sure a separate user account is created for each employee and require strong passwords.
9. Create a mobile device action plan: Mobile devices can create significant security and management challenges, especially if they hold confidential information or can access the corporate network.
10. Protect all pages on your public-facing websites, not just the checkout and sign-up pages.

Source U.S. Small Business Administration (for the complete description, see https://www.sba.gov/managing-business/cybersecurity/top-ten-cybersecurity-tips) As an additional precaution, you may also want to consider cyber liability insurance.

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10 Tips for Reducing Cyber Liability Threats

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