Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


Exploring the Evolution of Mobile Payment Technologies

By Steve Hennessy, Head of Cyber at Babble Cloud

Cyber-attacks don’t just happen to large corporations. Any business can fall foul of cyber-crime, but the best way to protect your business against attack is to be prepared. Here’s the heads-up on some of the biggest cyber threats to look out for so far this year and how to prevent them.

There is no ‘one size fits all’ when it comes to security

Think about house security. We all have locks on our doors, but how about gated entry, an alarm system, window bars or a video doorbell? We all use varying degrees of security to protect ourselves depending on our perceived level of risk. The same methodology should be used when considering cybersecurity. A business with thousands of employees accessing data via different devices will have completely different risks to those of one person using a private laptop to access basic documents.

When it comes to cybersecurity, there are several different combinations of technology and techniques you can use to protect your organisation’s data. The problem for most businesses is discovering where best to focus their spend. Working with specialist partners, such as Babble, simplifies the process, offering expert business insight into the cybersecurity solutions you ought to consider.

A cybersecurity specialist will help your business put up the best defence against attacks. This includes physical protection, technological implementation and improving business processes through user awareness training and education programmes.

Protect your business by protecting your users

Your end users will either be your business’ best line of defence or your biggest vulnerability. Most cyber threats stem from users: your employees and your customers. It’s important to make them aware of their own responsibilities.

Delivering cyber training is not a tick box exercise. Incorporating it into an induction programme or a lunch-and-learn session simply isn’t going to have a lasting impact and instead leaders must provide regular training to ensure employees know the role they play in protecting the business.

Trust your people, trust your tech

Most organisations try to nurture a company culture built on trust and respect. However, procedures should be in place to ensure sensitive data doesn’t get shared externally by those classed as ‘malicious insiders’.

Investing in strong cyber technology and having a clear understanding of where your data is kept and how it can be accessed, are some of the best ways to prevent malicious insiders being able to impact your business.

Don’t play a blame game

We’ve seen it too many times. A cyber-attack occurs; two parties are impacted and neither wants to take responsibility. Cyber-attacks are complex and in most cases there isn’t a clear point of fault. Yet scenarios like this damage relationships and can lead to business partnership breakdowns. The best way to avoid this is to ensure your own cyber strategy game is stronger than ever.

Invest in the right technology

Most businesses will invest in varying levels of cybersecurity technology. It’s integral to any business resilience plan. However, there are ways to go above and beyond to ensure your tech blocks potential cyber-attacks.

Multi-factor authentication, for example, is a great safety net for employees. It only allows access once the user presents two or more pieces of evidence to show they are who they say they are (such as a code sent to their mobile phone or a second email address). If an employee accidentally clicked on a harmful link and an attacker gained access to their log-in details, multi-factor authentication would prevent the attacker from being able to actually gain access to any data.

Technology is also available that will scan links automatically, blocking illegitimate users from gaining access to a harmful site. This extra layer of security will help catch sneaky attempts to hack into your system.

Understand where your data is being kept

You should know where your data is kept, how it’s being secured and who can access it. Every device within the organisation should be able to be identified, with data backed up off-site. Understanding this infrastructure will help you identify potential weak spots and put measures in place to prevent attack.

Cloud-based systems are much safer as your business’ data is kept securely. Cloud technology brings with it built-in robust security features, so you can rest assured your data is being looked after safely.

The aftermath of COVID-19

Security limitations have suddenly got wider as more and more employees work remotely. Instead of managing workers in a small range of satellite offices, businesses have employees working in hundreds of different settings.

Are employees using shared WiFi? Are they working from their own devices? Agile working revolves around enabling employees to work effectively from anywhere. This includes working safely from different locations, with no additional risk of a cyber-attack.

Your organisation has probably made tech decisions based on an office working structure, not anticipating a sudden and widespread shift towards home working. As businesses prepare their return-to-work plans, will your cybersecurity fit the bill? Organisations should review and renew their tech stack with urgency.

Ultimately, if your work environment looks the same as it did twelve months ago, something has gone wrong. Short-term solutions should be reviewed with a long-term goal in mind.

Cyber-crime is big business

Organisations are spending more than ever to protect themselves against cyber-attacks. But the costs of a breach are rising too and a significant data breach could cost your business money and damage your reputation.

Following a data breach, criminals will often attempt to sell personal information on the dark web. Some credit companies, such as Experian, now offer dark web monitoring, helping you to find out if personal information has been compromised. This enables you to take additional steps to prevent fraud, protect your finances and ensure your identity is kept safe.

Consider Cyber Essentials certification

Cyber Essentials is a Government backed scheme that offers advice on how to protect your business against common cyber-attacks. It will certify either by self-assessment or hands-on technical verification that your business has put necessary protections in place. Babble’s cyber experts can guide you through the process and help you get certified. This will enhance customer trust and potentially attract new business, as certification is proof that you’re taking data protection and cybersecurity seriously.

Partner with cyber experts to support your people

Make sure your team knows who to turn to for advice should they need it. From an in-house team of IT experts through to outsourced cybersecurity specialists, your team should have access to professionals who can help answer specific queries or help to identify cybersecurity-related issues.

Businesses must recognise the importance of executive management engagement in cyber-related policies. Boosting cyber resilience can often rely on securing buy-in from business leaders and releasing the budget to enhance cybersecurity. Leaders must step up now and realise cybersecurity is not optional: it’s essential.


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts