Tips on How to Reduce Cyber Risk?

Last Updated on 6 months by Touhid

Cyber security risk is the possibility of exposure, damage of sensitive information or data breach and loss of reputation of an organization. In this post, we will put best tips on how to reduce cyber risk to ensure security of an organization. There are different types of cyber security risk such as phishing, viruses, cross site scripting, denial of service attacks, and malware.

How to Reduce Cyber Risk?

How to reduce cyber risk? There are some useful techniques so you can reduce cyber security risk of your organization, which are as follows:

1. Data Encryption
2. Purchase a Cyber Insurance Policy
3. Network and Internet security
4. Database Security
5. Educate Your Employees
6. Up to Date operating system
7. Front-End Security
8. User Authorizations
9. Security Audit Log
10. Software Code Security

1.  Data Encryption

Encryption software is a type of security programs that enable encryption and decryption of a data stream during transmission and storage. The data which stored in database should be encrypted in order to protect from cyber security risk.

Data encryption is the method of encoding data using an algorithm to transform data that only authorized users can access the data. There are different types of encryption methods such as AES, MD5, and SHA 1 are used to encrypt and decrypt the data.

2.  Purchase a Cyber Insurance Policy

A cyber insurance policy will protect us from online breaches that are connected to the Internet. It is better to purchase a cyber-insurance policy will cover your losses and costs to repair the damage.

3.  Network and Internet security

How to reduce cyber risk in network? Network security consists of the policies and practices adopted to prevent and monitor unauthorized access to ensure network security.

There are some tools and methods to improve network and internet security of your organization. The most common network security components are listed below which will reduce cyber security risk.

• Antivirus Software
• Data Loss Prevention (DLP)
• Email Security
• Firewalls
• Network Segmentation
• Security Information and Event Management (SIEM)
• Virtual Private Network (VPN)
• Wireless Security
• Endpoint Security
• Network Access Control (NAC)

4.  Database Security

Database security refers to protect and secure a database from unauthorized access and malicious threats. We have mentioned some tips for reduce cyber security risk on database, which are as follows:

• Restricting unauthorized access of database
• Role based access control of database
• Physical security of the database server
• Implement a database backup from theft and natural disasters
• Reviewing existing system for any known or unknown vulnerabilities
• Dedicated security requirements for all operating systems.

5.  Educate Your Employees

It is very important to educate your employee for ensure security. Every organization should have arranged training program on cyber security to build employees technical skills.

The training program may include the following topics:

• Cyber security and importance
• Different types of cyber security risks
• Cyber security tool and technique
• How to reduce cyber risk?
• User awareness and responsibilities

6.  Up to Date operating system

The operating system of your computer and application software has important security functions that can help to reduce cyber security threats. So, operating system and software should up to date to protect cyber security risks.

7.  Front-End Security

Prepare and deploy a security configuration for both clients and mobile endpoints while activating administrator rules and access-control lists.

8.  User Authorizations

How to reduce cyber risk? Authorization is another ways to reduce cyber security risk. It is a security mechanism which used to determine user privileges or access levels related to system resources such as computer programs, files, services, data and application features. So, develop an authorization system which verifies that only authenticate users can access the system or resources.

 9.  Security Audit Log

Monitor your systems and activate the security audit log for filtering illegitimate user in order to reduce cyber security risks. The Web Application Firewall has a comprehensive logging feature to record significant events such as HTTP traffic, user actions.

These log messages allow a system administrator to:

• Obtain information about traffic and performance
• Analyze logs for suspicious activities
• Troubleshoot problems

A Web application Firewall has the following types of logs:

• Web Firewall Logs
• Access logs
• Audit logs
• System Logs
• Network Firewall Logs

10.  Software Code Security

How to reduce cyber risk in Software? Software code security is a major aspect of today’s cyber world. Most of the cyber threats are directed at the application layer so, code security is a must for any web application.

There are some vulnerabilities in software such as SQL injection, Cross site scripting (XSS) and DoS attack. So, software developers should addresses these type of vulnerabilities in order to protect from cyber security threats. In that case, web application firewall can help to identity and protect from these types of attacks.

Here we have mentioned some commercially used best Web Application Firewalls are as follows:

• Fortinet FortiWeb
• Citrix NetScaler App Firewall
• F5 Advanced WAF
• Radware AppWall
• Symantec WAF
• Barracuda WAF
• Imperva WAF
• Sophos XG Firewall
• SonicWall NSa

Reason for Increase Cyber Risk

We have discussed on how to reduce cyber risk to ensure security? Now, we will put the reasons to increase the cyber security risk.

There are different ways or reasons that cyber security risk may increase or happens such as human error and unauthorized access of a computer system. So, here is the top reasons why cyber security threats happens in an organization.

• Intentionally and unauthorized access of a computer system
• Unintentional or accidental breaches of security
• Increase the operational IT risks due to the poor system integrity
• Access to computer system and network from remote locations
• Human error such as lost and stolen laptops and smartphones
• Cyber security threats such as social engineering targeted employees
• Installing illegitimate apps and software in mobile and computers
• Not updating operating system, security patch and software
• Lack of encryption and proper hashing of passwords
• Employees may not be aware of the cyber security risks
• Using of unsecured network

Conclusion

We have discussed best tips on how to reduce cyber risk to ensure security of an organization and also mentioned the reasons for increase cyber risk . Hope the article shall be helpful for you to reduce cyber security risk.