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Cyber Crime and Small Business: It’s Real, Be Prepared!

With cyber crime a very real reality for small businesses, we thought it important to invite cyber security expert, Vikas Bhatia, Founder and CEO of Kalki Consulting, back to The Second Stage. Joining us a year ago Mr. Bhatia addressed the vulnerability of small businesses to cyber attacks, providing suggestions for getting started when it comes to securing your data. Today, we continue that conversation, discussing what business owners should do if their data is breached or even potentially breached, as we have all certainly experienced the loss or theft of a laptop or even USB containing company data, as well as the importance of putting a documented incident response plan in place. Dedicated to helping business owners protect their information, Mr. Bhatia offers to point our listeners to credible free resources available to help guide them through the process of creating an incident response plan. If your organization does not have a response plan in place and is struggling with where to start, you can contact Vikas, mentioning that you heard him on The Second Stage.

[Fact] Astonishingly, 20% of cyber attacks are on small businesses with less than 250 employees.

[Helpful Tip] Mr. Bhatia recommends encrypting your information to protect your company’s data, as well as ensuring that you have a process in place to verify that the encryption is being done regularly. This is something that can be done fairly easily and available on most all software. Here is a helpful article I recently found while googling the topic of encryption: How to encrypt (almost) anything.

[Helpful Tip] Mr. Bhatia cautions against shutting down your computer if you suspect that your data has been breached. While this may appear counter-intuitive to non-technical folks (myself included!), once the machine is shut down, Vikas warns that evidence of the event may be swiped “clean,” making an investigation much harder or possibly not feasible.

Also during our discussion Vikas references Verizon’s Data Breach Investigations Report. This in-depth report, which has been conducted over the past 10 years, states that 92% of the 100,000 incidents analyzed can be described by just nine basic patterns. Interested in diving in and finding out more about these nine patterns? Download a copy of the report here.

And to hear more helpful tips and information when it comes to protecting your business from and responding to cyber attacks, you can listen to our entire conversation here.

 

Posted by: Brendan Anderson A co-founder and managing partner at Evolution, Brendan has spent the past 20 years as an investor and manager of businesses ranging from manufacturing to financial services. @Brendan_Andersn

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