A small company with 25 employees is attacked and its data are encrypted. The chief executive officer (CEO) does not think their insurance would cover the cost of restoration and the company would have to shut down operations for more than 3 months. As a result, they will probably going out of business. They did not spend any of their information technology (IT) budget on cybersecurity. What should they have done before this happened?(1 point)
Before this happened, the company should have taken several steps to prevent and mitigate the cyber attack. Some recommendations include:
1. Invest in cybersecurity measures: Allocate a portion of the IT budget towards cybersecurity, including purchasing and regularly updating security software and hardware.
2. Educate employees about cybersecurity: Conduct regular training sessions to raise awareness among employees about the importance of cybersecurity, including best practices on safe internet usage, recognizing phishing attempts, and avoiding suspicious links or downloads.
3. Regularly backup critical data: Implement a regular data backup strategy, ensuring that important files and databases are regularly backed up and securely stored off-site. This would help reduce the impact of data loss or encryption during an attack.
4. Develop an incident response plan: Create an incident response plan that outlines the steps to be taken in the event of a cyber attack. This plan should include designated response team members, contact information for relevant personnel, and procedures for data recovery and system restoration.
5. Conduct security assessments and updates: Regularly perform security assessments to identify vulnerabilities in the company's IT systems and network infrastructure. Address any identified weaknesses promptly by upgrading software, implementing patches, or taking other necessary security measures.
6. Enforce strong passwords and multi-factor authentication: Establish strict password policies, ensuring employees use strong and unique passwords for their accounts. Additionally, implement multi-factor authentication for accessing critical systems to add an extra layer of security.
7. Install and maintain firewalls and intrusion detection systems: Implement robust firewalls and intrusion detection systems to monitor network traffic and prevent unauthorized access attempts.
8. Establish incident reporting procedures: Encourage employees to report any suspicious activities, potential security breaches, or phishing attempts immediately so that appropriate actions can be taken promptly.
9. Consider cyber insurance coverage: Evaluate cyber insurance options, ensuring that the coverage adequately addresses the company's industry, size, and specific cybersecurity risks.
By implementing these measures, the company could have significantly reduced the risk and impact of a cyber attack, potentially avoiding the scenario of shutting down operations and going out of business.