Cyber Security

Handling Your Cyber Security

Cyber Security commonly refers to protecting networks, programs and systems from any sort of digital/cyber attacks. While it’s important to take steps to protect your IT infrastructure, cyber security is increasingly about ensuring high security awareness among your employees as well.

Cyber attacks are a regular occurrence for small businesses. If successful, they access, control and destroy your sensitive information. It’s nothing new, but it is becoming more common and more sophisticated. The stakes are also getting higher as we become more reliant on technology for our personal and professional lives.

It’s not only yourselves and cyber criminals who are interested in the security of your network. Your vulnerabilities could impact your vendors, clients, customers & your insurance. Your company’s goal should be to protect itself, its partners and its employees to the maximum extent possible against security threats that could jeopardize its integrity, privacy, reputation and business outcomes.

While you can never fully eliminate the threat, with some smart planning you can make yourself a difficult target. Doing so will drastically reduce your risk of being the victim of a cyber-attack.

FunctionEights 5-step plan for protection

Identify risks and potential points of weakness in your setup

This step includes setting up a documented information security policy for each of:

  • Assets, Annual Review, Access Control, Email, Internet, Antivirus, Remote Access, Firm & Public Wifi, Outsourcing, and Data Destruction

Implement the protection of your network and information

This is the part where the company plans a cybersecurity risk management program for its users:

  • Employee training and written guidance, documented incidence response plan, clearly segregated access to data

By implementing a number of procedures and controls, cybersecurity risks to the Firm will be significantly reduced.

Understand the risks associated with third parties

We would work with you to:

  • Do a thorough assessment of third parties cybersecurity
  • Setup network segregation of third-party access/content
  • Control third-party network access

Create a disaster recovery/ business continuity plan

The business continuity plan is designed to help enable you to meet your existing obligations to clients and counterparties in the event of an emergency or significant business disruption. This would include:

  • A continuity and recovery plan
  • Communication with employees & investors in the event of a disruption
  • Safety procedures and top-down communication chains
  • Redundancy of mission-critical systems
  • Back-up trading and operations site

Set up an incident response plan

Some things to consider in this plan:

  • Managing the preparation/ discovery/ detection phase
  • Event acknowledgment & initiation process
  • Deployment of personnel
  • Resolution process
  • Security event reporting procedure

Frequently asked questions

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