Are You and Your Small Business Prepared for Insider Threats?

The small business insider threat is a commonly ignored risk. But they can be a major threat to small to medium-sized businesses (SMBs). SMB security must, therefore, evolve based on external and insider threats. Are you prepared? We’ll discuss why small business owners are at risk, and ways you can keep yourself safe.

The Reason Small Businesses Are on the Hook

Small companies often remain in their comfort zone, believing that the big fish are targeted by data breaches. But the reality is, they are soft targets.

• Simple Security Frameworks: SMBs are often too small to have the complex security frameworks used by larger companies.
• Limited IT Staff: Many small businesses do not have in-house IT security teams.
• Communal Culture: SMBs are generally homespun and may thus breed loopholes that work on trust.

The big takeaway? Smaller doesn’t mean safer. But the attitude of it won’t happen to us can be fatal.

Why is There So Much Very Little Detection of Insider Threats?

Spotting insider threats isn’t easy. Whereas external threats face many hurdles, insiders always have the keys to the castle. They know where the jewels are kept and may even know how to clip the alarms. Here’s why it’s challenging:

• Access Entitlement: Employees already have access to critical data, making misuse harder to detect.
• Misplaced Trust: Close-knit cultures result in misplaced trust that can be used maliciously or inadvertently.
• Systems Deficiency: Unusual behavior may go unreported or undetected when the right systems are not in place.
• Data Overload: When everything is monitored, all the data can pile up to an unmanageable degree.

Identifying an insider threat is similar to locating a needle in a haystack. But fear not, there are solutions.

Affordable Secured Measures

Don’t want your business to become a victim? These are some low-cost security precautions:

• Rent Equipment Instead of Buying It: Instead of investing in costly security infrastructure, engage in rental models for firewalls, servers, and routers. It allows for flexibility and innovation, all at a low cost.
• Enable Two-Factor Authentication (2FA): Provide an added layer of security that asks for a second code.
• Keep Software Updated: Ensure that all software is up-to-date to prevent exploitation via known vulnerabilities.
• Security Best Practices Training: Regularly train employees on security best practices.
• Encryption: If possible, encrypt sensitive data to render it unreadable without the decryption key.
• Periodic Audits: Plan for periodic audits to determine who has access to what data.

These items not only save you money but also help to protect your business.

Building Policies

And proper policies are a must-have when protecting any business. The key elements are broadly understood policies that are uniformly enforced. Here’s how to build them:

• User Access Levels: Determine who should have access to what level of information.
  So elementary that it almost sounds crazy if you don’t recognize it already; simply turn it upside-down:
• Establish a Reporting Mechanism: Employees should be able to easily and anonymously report suspicious activity.
• Periodically Revisit Access Privileges: Roles of employees change; ensure to audit access privileges from time to time.
• Prepare a Response Plan: If a security breach does occur, everyone needs to know how to deal with it and should have a step-by-step response plan.

A thorough policy doesn’t just protect; it enables every individual in an organization to play a role in the organization’s security effort.

Wrapping Up

Don’t Let Insider Threats Sink Your Small Business The keys to SMB security? Being aware of risk, possessing cheap solutions and adopting a competent, unambiguous policy. Firewalls, servers & routers are some of the security equipment you might want to rent. In doing so, you are ensuring your company is fortified with an investment that doesn’t break the bank. The first step in responding to a threat is well preparation. Are you ready?

Protect Your Business by Taking These Steps Towards Insider Threat Prevention Today Prevention is far cheaper than a data breach. Stay ahead of insider threats by implementing these strategies today to safeguard your business.