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How Can an MSP Keep Your Business Safe?

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How Can an MSP Keep Your Business Safe?

Are you a small- or medium-sized business that is in need of a more complete, dependable IT solution to support your business than you presently have? When your main focus is running your business, everything else becomes an afterthought. Other support operations tend to take a backseat. However, your business depends upon a reliable, stable “always running” IT infrastructure and you probably find that isn’t always the case. Even if you have an in-house staff, it isn’t large enough to put out fires and handle strategic planning and provide 24/7 support when something goes wrong. That is why many businesses large and small rely fully or partially on the support of a Managed Service Provider (MSP).

So what are the typical services available from an MSP? There are many different types of support that can be provided to clients. In this e-guide we will break them down.

Managed IT Services

This is the overarching set of services that define the purpose of an MSP. Generally, a business will sign a service level contract with an MSP for a set of defined IT services for a period of time. One advantage typically derived from such an agreement is that the contract provides that you get 24/7 emergency support with priority. Typically, if you have a crisis and call a provider, the non-contract clients take a lower priority. This can mean longer down times and those mean revenue losses. Also, your contract with an MSP means that you can do a better job predicting your IT expenses into the future, and predictability is always a benefit for any enterprise.

Cyber Security Services

One specific area of expertise that everyone needs, no matter how small the business, is up-to-date, ongoing protection against data theft and cyber crimes. An MSP can bring a depth of knowledge that is difficult to create in-house. Ransomware and data theft are rampant. Cyber criminals attack businesses of any size ( in fact, small ones can be more vulnerable. And smaller businesses often don’t have the deep pockets to recover from the revenue losses of a cyber attack). This is a very specialized sector of IT management where businesses frequently choose to use the services of an MSP because of its complexity. Also, keeping up-to-date with the latest malware, and handling 24/7 monitoring can be very labor intensive if done in-house.

Compliance Management

  • There are a number of data protection laws (HIPAA, FERPA, CA Privacy Act, GDPR, FTC Safeguards Rule) out there that not only provide penalties if a data breach occurs, many of them mandate specific protocols to better ensure your data is protected. Avoiding a data breach isn’t enough. Some of these protocols can be quite demanding and some require periodic testing and are subject to audits. Samples of the types of requirements mandated by some of these laws may include.
  • Designating one individual to oversee data protection and security
  • Conducting a risk assessment – This means analyzing what data you possess, where it is stored, and in what ways it is vulnerable.
  • Creating safeguards to address all potential areas of vulnerability
  • Designing and documenting tools to secure your data and tracking access
  • Tracing the location and security of all data whether it is at rest or in transit.

An MSP can be a critical resource in designing these safety measures and ensuring your company is in compliance and remains so. Handling compliance issues and audits can be a big distraction when you are trying to run your business and drive revenues.

Leveraging your business data to drive better business outcomes

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Leveraging your business data to drive better business outcomes

Smaller firms may hear about AI and how data is driving the big corporations of the world, but they often don’t realize that they can do the same. The size and age of your business doesn’t have to be a limiting factor in whether you use data. Today’s blog is a quick look at data management for the small firm.

The first lesson is: don’t take your data for granted. The basic business model for some large IT companies is monetizing the data that they collect. While this may not be your goal, you probably collect a great deal of data about your customers, prospects, and operations. An MSP can help you make better use of that data. Here are just three examples:

Marketing

Data tells you who is interested, when they’re interested, and in what they are interested. Data can tell you where each individual prospect sits in the sales funnel, so your marketing messages reach them exactly where they are. It can also track the performance of your online marketing initiatives.

Forecasting and Sales

Customer Relationship Management applications exist because of the data that can now be collected. They monitor sales efforts, nurture leads, and work to improve customer engagement.

In-house and Operations

Data can track all manner of things in your production of goods or services, identifying where resources are being spent in each step of the process. Data can also be used in scheduling and pricing, although these tools can have human resource and customer relations implications that need to be carefully considered.

Planning and the Future

Technology is more than just something to run your business today. It can be a source of innovation for the future of the business, pushing it in new directions. You should be taking a proactive view of technology as a strategic tool for the long-term growth of the business. How can new technology help with in-house software development, infrastructure upgrades, digital transformation, and product innovation? Questions to ask in this context would be “can technology improve the delivery of products and services, or improve qualitatively the nature of the product or service itself?” As part of C-suite plans to stay competitive and thrive in the market, leadership needs to understand what new technologies are available for future innovation. However, that means you need technology support that is focussed on strategic planning; understanding new technologies that can move the business forward. For an SMB, Managed Service Provider can be the CIO/CTO that understands your business and helps plans for the future.

In summary, most SMBs are limited in how they can make use of technology in their strategic planning. As a result, this may compromise their capacity to remain competitive in the long-term. Consider using an MSP as a strategic partner in your long term planning.

Roadmaps for Data Security and for Strategic Planning

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Roadmaps for Data Security and for Strategic Planning

It is time you were encouraged to stop looking at the technology you use to run your business as just some reliable piece of invisible infrastructure that hums along in the background.

Instead, business owners should look at technology from a strategic perspective. What can technology do to support business in the future? How can new technology help your present business evolve and adapt to new market demands and customer expectations? For instance, AI is a new technology that may create serious disruption in many industries. Failure to think into the future could put a business at a disadvantage. Unfortunately, most small businesses face two challenges that make it difficult to incorporate new technology into their strategic plans.

  1. In-house staff focus more on maintaining existing technology – For many SMBs, in-house IT staff resources are limited. As a result, much of their time and attention must be focused on putting out fires and handling emergencies. Beyond that, day-to-day maintenance and support of your IT infrastructure is probably stretching them past the breaking point.

  2. Leadership expertise in SMBs is concentrated entirely on running the business and growing revenues. Very simply, SMB leadership’s skills are in their specific industry. Management needs to be focused on the product or service and driving revenues. The issues get back to “core competencies.” A business that gets distracted from its core competencies may damage its focus on quality and meeting customer expectations.

Because of these two challenges, SMBs tend to not integrate technology into long-term strategic planning. They simply don’t have the luxury of devoting resources to IT planning. There is a solution, however. An MSP has the depth and breadth of resources that you could never hope to build and manage internally. To do so would drain management focus and be financially unsupportable.

What can an MSP bring to a small business? Here are six areas where an MSP can help a small business act strategically and integrate technology into long-term growth plans.

Building a Technology Roadmap

At the heart of a technology roadmap is this question: “Can technology improve the delivery of products and services or improve qualitatively the nature of the product or service itself?” A technology roadmap works to develop a complete, concrete answer to this question. It is a long-term planning document that defines how and what technology should be incorporated into the growth of the business. Individual parts of a roadmap will address specific aspects of the company’s technology such as software development, infrastructure upgrades, digital transformation, and product innovation. A technology roadmap that includes product innovation is especially important. The roadmap may also include research and development initiatives.

Creating a Security Roadmap

A security roadmap is the result of a risk management analysis. By analyzing the vulnerabilities in your IT infrastructure, including cyber security threats, an MSP can create a security roadmap that identifies all the actions that need to be taken to fortify your IT infrastructure as much as possible. Like a technology roadmap, it is a specific plan for ensuring that your data, network hardware and software remains safe from cybercriminals. Data is critical to your business. It is proprietary and it is also very vulnerable to theft. A data breach can be a real threat to the viability of your business. The legal and reputational consequences can take down a small business. A security roadmap can include:

  • Determining what regulations govern your data (HIPAA, GDPR, FERPA, etc.)
  • Developing access protocols
  • Training employees about human vulnerabilities to cybercrimes, such a phishing
  • Creating effective backup procedures, which are a particularly important defense against ransomware attacks

An MSP can help you prepare your business for tomorrow’s market

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An MSP can help you prepare your business for tomorrow’s market

Many small businesses tend to view an MSP as the local fire truck. Available when an emergency happens, they rush in, put out whatever tech fires broke out, and then leave. This is also known as the “break-fix” approach to technical support. However, an MSP can bring many types of value to a small business. In particular, an MSP can function as a strategic partner for a small business. Technology needs to be part of your long-term strategic planning. MSPs have the ability to devote energy to understanding emerging trends that can help your organization develop a “technology roadmap.” This is a long-term strategy document that outlines how and what technology should be used going forward. The roadmap takes a proactive view of technology as a strategic tool for the long-term growth of the business. Individual parts of a technology road map will address specific aspects of the company’s “technology” such as software development, infrastructure upgrades, digital transformation, and product innovation. A technology roadmap that includes product innovation is especially important. Questions to ask in this context would be “can technology improve the delivery of products and services, or improve qualitatively the nature of the product or service itself?” The roadmap may also include research and development initiatives. As part of C-suite plans to stay competitive and thrive in the market, leadership needs to understand what new technologies are available for future innovation.

Here are just a few examples of how an MSP’s specialized staff with expertise can help.

Software Development – Strategic IT should be evaluating the present software applications and addressing improvements and re-designs that will address potential customer demands.

Infrastructure Upgrades as the Business Grows – There are many examples, but a simple one is redundancy. As a business grows, it becomes increasingly important to address redundancy. The larger the business, the more complex the infrastructure becomes. It is important that businesses look throughout the infrastructure and identify the single points of failure that need to be addressed and developing real-time work arounds and disaster recovery plans is an increasingly complex task that requires significant resources and attention.

Digital Transformation – Digital transformation refers to taking tasks and using digital tools to improve efficiency and response. This can mean anything from moving from in-house servers to the cloud, using SaaS, creating online portals for sales and marketing, to just about anything you can imagine. A new example is the use of AI, especially machine learning which can be used to develop more effective inventory planning and offer more precise marketing responses to individual prospects.

Security Roadmaps – A security roadmap is similar to a technology roadmap, but with a very tight focus. Ensuring your data remains safe from cybercriminals, internal error, and software or hardware breakdowns is the goal of a security roadmap. Your data is critical to your business. It is proprietary and it is also very vulnerable to theft. A data breach can be a real threat to the viability of your business. The legal and reputational consequences can take down a small business. A security roadmap can include:

  • Determining what regulations govern your data (HIPAA, GDPR, FERPA, etc.)
  • Developing access protocols
  • Training employees about human vulnerabilities to cybercrimes, such a phishing
  • Creating effective backup procedures, which are particularly important defense against ransomware attacks

Data Management: Everyone knows that data is valuable. The basic business model of some of the largest IT companies hinges partly on the value of data for advertising. But for even the smallest business, significant amounts of data can now be collected. An MSP can help an SMB use that data to tighten inventory, for example. Three ways data helps your business succeed.

Marketing – Data tells you who is interested, when they’re interested, and in what they are interested. Data can tell you where each individual prospect sits in the sales funnel, so your marketing messages reach them exactly where they are. It can also track the performance of your online marketing initiatives.

Forecasting and Sales – Customer Relationship Management applications exist because of the data that can now be collected. They monitor sales efforts, nurture leads, and work to improve customer engagement.

In-house and Operations – Data can track all manner of things in your production of goods or services, identifying where resources are being spent in each step of the process. Data can also be used in scheduling and pricing, although these tools can have human resource and customer relations implications that need to be carefully considered.

In short, there are a lot of areas where technology can be used to not only run your business today but can propel your business forward. Technology that is viewed strategically, not just as a tool to get things done today, can drive revenues and help a SMB remain competitive as the market changes. An MSP has the deep experience and resources to understand your business and contribute to your strategic planning at the C-suite level without requiring the resources necessary to build it up from within.

MSPs can focus on issues you don’t have time for

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MSPs can focus on issues you don’t have time for

Every business relies on technology to function. From simple things like email, VoIP, and the internet, all the way to predictive analytics for inventory and sales, digital technology is at the root of every business. Unfortunately, no matter how much small- to medium-sized businesses may rely on their IT infrastructure to operate, they often try to “get by” with their in-house IT staff to keep things running. In this blog, we will discuss the value a Managed Service Provider brings to an SMB: a value that cannot be replicated in-house.

First, it is important for a business owner to realize that an IT infrastructure is not a static entity. Nothing is “plug-and-play” in today’s business environment. There is no “build it and forget it.” Because everyone relies on technology that must be running 24/7, businesses need to be proactively monitoring the performance and availability of critical infrastructure, such as servers and networks. There are just so many things a business has to worry about. Cyber criminals are always coming up with new threats, so anti-virus software isn’t enough. Consequently, active endpoint monitoring needs to be happening around the clock.

So, why is an SMB limited in its ability to meet all of its technology needs in-house? One reason is management focus. Business owners need to focus on core competencies. They need to focus on running the business and producing revenue-driving goods or services in their area of expertise. Diverting focus to managing an IT team in-house may not be an ideal use of their time. It may also not be an ideal use of their skills. Additionally, resources are limited, and an SMB loses the advantages of economies of scale when it tries to do everything in-house. In a smaller operation, IT staff often need to focus on day-to-day functions, including putting out fires. This limits their time to think strategically and determine ways that technology can innovate and keep the business competitive in the longer run.

So what can an MSP offer that the in-house IT staff cannot?

A Managed Service Provider is staffed by IT practitioners whose sole focus is technology. Many focus only on specific industries. This means that your MSP organization is composed of individuals who have specialized experience and training in one specific area of technology such as cyber security, cloud computing or network infrastructure. MSPs also have the resources to invest in continuous training and professional development. That means keeping up with the latest developments in technology and emerging trends. If focused on one industry, they analyze competitive changes in that industry and how technology can provide strategic advantages for their clients. MSPs also can set aside time for attending conferences, webinars, and networking events to share knowledge and stay ahead in their field. They are also more likely to have the resources to provide their consultants with access to professional publications and newsletters.

Why is this so important? First, analyzing present problems and performing routine maintenance tasks isn’t necessarily “routine.” New threats and changes can create disruption in existing configurations. (Anyone who has downloaded a new software upgrade is aware of that!) Secondly, in-house tech staff, except for those in the largest organizations, are more task focused than strategic. This isn’t due to a lack of awareness of the value of planning and development. It is primarily a resource problem that is inherent to SMBs. Unfortunately, the result is that in-house staff may not be able to contribute at a strategic level, thus limiting the ability of the organization’s leadership to incorporate new technology into long term plans.

7 Ways To Maximize Workplace Productivity With Tech

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In the fast-paced world of business, efficiency and productivity are paramount. Advancements in technology have revolutionized the way we work, providing a plethora of tools and resources to help us accomplish more in less time. Maximizing workplace productivity with technology has become an essential strategy for organizations looking to stay competitive and innovative in today’s global market. Here are 7 ways to add tech to your day-to-day activities to stay productive.

1. Automation And Streamlining Processes:

One of the most significant ways technology maximizes workplace productivity is through automation and process streamlining. With the help of tools like workflow automation software and robotic process automation, businesses can automate repetitive tasks, freeing up employees to focus on more creative and strategic tasks. By automating routine processes, organizations reduce the likelihood of errors and increase the speed at which tasks are completed. This not only boosts efficiency but also enhances job satisfaction by allowing employees to concentrate on tasks that require critical thinking and problem-solving skills.

2. Collaboration And Communication:

Effective communication and collaboration are vital to a productive workplace. Technology has provided a range of solutions, such as video conferencing, project management software and instant messaging platforms, that enable teams to work together seamlessly regardless of their geographic locations. These tools facilitate real-time communication, file sharing and project tracking, ensuring that all team members stay on the same page and are able to work efficiently together. This results in faster decision-making, improved project management and, ultimately, higher productivity.

Need help with choosing the right collaboration and communication tools for your business? We can help! Click here to book a 10-minute discovery call to get started.

3. Data Analytics And Business Intelligence:

In the modern workplace, data is king. The ability to collect, analyze and leverage data is a powerful tool for improving productivity. With the help of advanced analytics and business intelligence tools, organizations can gain insights into their operations, customer behavior and market trends. This data-driven approach allows for informed decision-making, optimized resource allocation and the identification of areas where improvements are needed. By harnessing data and analytics, businesses can work smarter, not harder.

4. Remote Work And Flexibility:

Technology has also played a pivotal role in reshaping the traditional office environment. The rise of remote work and flexible work arrangements has been made possible by advancements in communication and collaboration tools. Employees can now work from anywhere, provided they have an Internet connection, which not only enhances their work-life balance but also opens up opportunities for businesses to tap into a global talent pool. Remote work can boost productivity by reducing commuting time and allowing employees to work in environments where they are most comfortable and productive.

IMPORTANT: Security should be a high priority if you have remote workers. If you don’t have a robust security system for virtual team members, you need to get one right away.

5. Project Management And Task Tracking:

Effective project management is key to productivity. With project management software, businesses can plan, execute and monitor projects more efficiently. These tools provide a clear overview of tasks, deadlines and team member responsibilities, ensuring that everyone stays organized and accountable. From agile methodologies to Gantt charts, technology offers a range of project management approaches to suit various business needs.

6. Employee Training And Development:

Investing in technology for employee training and development is another avenue to maximize workplace productivity. Learning management systems and online training platforms enable organizations to offer continuous learning opportunities to their employees. By upskilling and reskilling their workforce, companies can ensure that their staff remains adaptable and capable of using the latest tools and technologies, which in turn enhances overall productivity.

7. Security And Data Protection:

As technology becomes more integrated into the workplace, the need for robust security and data protection measures is crucial. Cyber security solutions help protect sensitive information, prevent data breaches and ensure business continuity. When employees feel secure in their digital environment, they can work more confidently and productively, knowing that their data and the company’s assets are protected.

Technology is an indispensable resource for maximizing workplace productivity. From automating tasks and improving communication to harnessing data and fostering employee development, technology offers a wide range of solutions to enhance efficiency and effectiveness in the modern workplace. Embracing these technologies and staying up-to-date with the latest trends is essential for businesses looking to thrive in today’s competitive and ever-evolving business landscape. By leveraging technology effectively, organizations can achieve their productivity goals, improve their bottom line and create a dynamic, innovative work environment.

If you need help creating a strategic plan for your technology, such as determining what software to invest in, sourcing devices, creating a plan for efficiency or securing your network, our IT team can support you. Click here to book a 10-Minute Discovery Call to get started.

Out With The Old: Debunking 5 Common Cybersecurity Myths To Get Ready For The New Year

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In today’s hyperconnected world, cybersecurity is a critical concern for individuals and organizations alike. However, as the digital landscape evolves, so do the myths and misconceptions surrounding cybersecurity. If you want to be protected, you have to understand what the real threats are and how you could be unknowingly overlooking them every single day. In this article, we will debunk 5 common cybersecurity myths to help you stay informed and protected as you take your business into 2024.

Myth 1: “I’m too small to be a target.”

One of the most dangerous cybersecurity myths is the belief that cybercriminals only target large organizations. In reality, cyber-attacks do not discriminate by size. Small businesses, start-ups and individuals are as susceptible to cyberthreats as larger enterprises. Cybercriminals often target smaller entities precisely because they may lack robust cybersecurity measures, making them easier prey. To stay safe, everyone should prioritize cybersecurity, regardless of their size or scale.

Myth 2: “Antivirus software is enough.”

Antivirus software is an essential component of cybersecurity, but it is not a silver bullet. Many people mistakenly believe that installing antivirus software on their devices is sufficient to protect them from all cyberthreats. While antivirus software can help detect and prevent known malware, it cannot stand up against sophisticated attacks or social engineering tactics. To enhance your protection, combine antivirus software with other security measures, such as firewalls, regular software updates and user education.

Myth 3: “Strong passwords are invulnerable.”

A strong password is undoubtedly an integral part of cybersecurity, but it is not foolproof. Some believe that creating complex passwords guarantees their accounts’ safety. However, even strong passwords can be compromised through various means, including phishing attacks, keyloggers and data breaches. To bolster your security, enable multifactor authentication (MFA) whenever possible, which adds an additional layer of protection beyond your password.

Myth 4: “Cybersecurity is solely an IT department’s responsibility.”

Another common misconception is that cybersecurity is exclusively the responsibility of an organization’s IT department. While IT professionals are crucial in securing digital environments, cybersecurity is a group effort. Everyone within an organization, from employees to management, should be aware of cybersecurity best practices and adhere to them. In fact, human error is a leading cause of data breaches, so fostering a culture of cybersecurity awareness is essential.

Myth 5: “My data is safe in the cloud.”

With the increasing use of cloud services, some individuals believe that storing data in the cloud is inherently secure. However, the safety of your data in the cloud depends on various factors, including the provider’s security measures and your own practices. Cloud providers typically implement robust security, but users must still manage their data securely, including setting strong access controls, regularly updating passwords and encrypting sensitive information. It’s a shared responsibility.

Cybersecurity is something you must take seriously heading into the New Year. Cyberthreats continuously evolve, and believing in these misconceptions can leave individuals and organizations vulnerable to attacks. It’s essential to stay informed, maintain a proactive stance and invest in cybersecurity measures to protect your digital assets. Remember that cybersecurity is a collective effort and everyone has a role to play in ensuring online safety. By debunking these myths and embracing a holistic approach to cybersecurity, you can better protect your digital life and business.

To start off the New Year in a secure position, get a completely free, no-obligation security risk assessment from our team. We’ll review everything you have in place and give you a full report explaining where you’re vulnerable and what you need to do to fix it. Even if you already have an IT team supporting you, a second set of eyes never hurts when it comes to your security. Book an up to 30-minute discovery call with our team here – link.

When Your Facebook Or Other Online Account Gets Hacked, Who’s Responsible For The Losses?

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Recently, the CEO of a very successful marketing firm had their Facebook account hacked. In just a weekend, the hackers were able to run over $250,000 worth of ads for their online gambling site via their account and removed the rightful owner as the admin, causing the firm’s entire Facebook account to be shut down.

Not only are they uninsured for this type of fraud, but they were shocked to discover that Facebook, as well as their bank and credit card company, was NOT responsible for replacing the funds. Facebook’s “resolution” was that there was no fraud committed on their account because the hacker used their legitimate login credentials, and Facebook is not responsible for ensuring you keep your own personal credentials safe and confidential. Further, they didn’t have the specific type of cybercrime or fraud insurance needed to cover the losses, so they’re eating 100% of the costs.

Not only are they out $250K, but they also have to start over building their audiences on Facebook again, which took years to build. This entire fiasco is going to easily cost them half a million dollars when it’s all totaled.

In another incident, another firm logged into their account to find all of their ads were paused. Initially, they thought it was a glitch on Facebook, until they realized someone had hacked into their account, paused all of their legitimate ads and set up 20 NEW ads to their weight-loss spam site with a budget of $143,000 per day, or $2.8 million total.

Due to their spending limits, the hackers wouldn’t have charged $2.8 million; however, due to the high budgets set, Facebook’s algorithms started running the ads fast and furious. As they were pausing campaigns, the hackers were enabling them again in real time. After a frantic “Whac-A-Mole” game, they discovered the account that was compromised and removed it.

The compromised account was a legitimate user of the account who had THEIR account hacked. Because of this, Facebook wouldn’t replace the lost funds, and their account got shut down, with all campaigns deleted. Fortunately, these guys caught the hack early and acted fast, limiting their damages to roughly $4,000, but their account was unable to run ads for 2 weeks, causing them to lose revenue. They estimate their total damages to be somewhere in the $40,000 to $50,000 range.

When many people hear these true stories (with the name of the companies withheld to protect their privacy), they adamantly believe someone besides them should step up and take responsibility, covering the losses. “It wasn’t OUR fault!” they say. However, the simple reality is this: if you allow your Facebook account – or any other online account – to be hacked due to weak or reused passwords, no multifactor authentication (MFA) turned on, improper e-mail security or malware infecting your devices due to inadequate cyber security, it is 100% YOUR FAULT when a hacker compromises your account.

Facebook is just one of the cloud applications many businesses use that can be hacked, but any business running any type of cloud application, including those that adamantly verify they are secure, CAN BE HACKED with the right credentials. Facebook’s security did not cause their account to be compromised – it was the failure of one employee.

The BEST way to handle this is to NOT get hacked in the first place. Here’s what you need to do to protect yourself:

  • Share this article to make sure your staff is aware of these types of scams. Cybercriminals’ #1 advantage is still hubris; businesses and most people in general insist that “nobody would want to hack me” and therefore aren’t extremely cautious with cyberprotections.

  • Make sure you create strong, unique passwords for EACH application you and your team log into. Use a good password management tool such as <<XXXXX>> to manage this, but remember IT MUST BE USED IN ORDER TO WORK. For example, don’t allow employees to store passwords in Chrome and bypass the password management system.

  • Minimize the number of people logging into any account. If someone needs access, give them that access and then remove them as a user ASAP immediately after. The more users you have on a cloud application, the greater the chances are of a breach.

  • Make sure all devices that touch your network are secure. Keylogger malware can live on a device to steal all of your data and credentials.

If you want to ensure your organization is truly secure, click here to request a free Cyber Security Risk Assessment to see just how protected your organization is against known predators. If you haven’t had an independent third party conduct this audit in the last 6 months, you’re due.

It’s completely free and confidential, without obligation. Voice scams are just the latest in a tsunami of threats aimed at small business owners, with the most susceptible being the ones who never “check the locks” to ensure their current IT company is doing what they should. Claim your complimentary Risk Assessment today.

Out With The Old: Debunking 5 Common Cybersecurity Myths

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Cybersecurity Myths

In today’s hyperconnected world, cybersecurity is a critical concern for individuals and organizations alike. However, as the digital landscape evolves, so do the myths and misconceptions surrounding cybersecurity. If you want to be protected, you have to understand what the real threats are and how you could be unknowingly overlooking them every single day. In this article, we will debunk 5 common cybersecurity myths to help you stay informed and protected as you take your business into 2024.

Myth 1: “I’m too small to be a target.”

One of the most dangerous cybersecurity myths is the belief that cybercriminals only target large organizations. In reality, cyber-attacks do not discriminate by size. Small businesses, start-ups and individuals are as susceptible to cyberthreats as larger enterprises. Cybercriminals often target smaller entities precisely because they may lack robust cybersecurity measures, making them easier prey. To stay safe, everyone should prioritize cybersecurity, regardless of their size or scale.

Myth 2: “Antivirus software is enough.”

Antivirus software is an essential component of cybersecurity, but it is not a silver bullet. Many people mistakenly believe that installing antivirus software on their devices is sufficient to protect them from all cyberthreats. While antivirus software can help detect and prevent known malware, it cannot stand up against sophisticated attacks or social engineering tactics. To enhance your protection, combine antivirus software with other security measures, such as firewalls, regular software updates and user education.

Myth 3: “Strong passwords are invulnerable.”

A strong password is undoubtedly an integral part of cybersecurity, but it is not foolproof. Some believe that creating complex passwords guarantees their accounts’ safety. However, even strong passwords can be compromised through various means, including phishing attacks, keyloggers and data breaches. To bolster your security, enable multifactor authentication (MFA) whenever possible, which adds an additional layer of protection beyond your password.

Myth 4: “Cybersecurity is solely an IT department’s responsibility.”

Another common misconception is that cybersecurity is exclusively the responsibility of an organization’s IT department. While IT professionals are crucial in securing digital environments, cybersecurity is a group effort. Everyone within an organization, from employees to management, should be aware of cybersecurity best practices and adhere to them. In fact, human error is a leading cause of data breaches, so fostering a culture of cybersecurity awareness is essential.

Myth 5: “My data is safe in the cloud.”

With the increasing use of cloud services, some individuals believe that storing data in the cloud is inherently secure. However, the safety of your data in the cloud depends on various factors, including the provider’s security measures and your own practices. Cloud providers typically implement robust security, but users must still manage their data securely, including setting strong access controls, regularly updating passwords and encrypting sensitive information. It’s a shared responsibility.

Cybersecurity is something you must take seriously heading into the New Year. Cyberthreats continuously evolve, and believing in these misconceptions can leave individuals and organizations vulnerable to attacks. It’s essential to stay informed, maintain a proactive stance and invest in cybersecurity measures to protect your digital assets. Remember that cybersecurity is a collective effort and everyone has a role to play in ensuring online safety. By debunking these myths and embracing a holistic approach to cybersecurity, you can better protect your digital life and business.

To start off the New Year in a secure position, get a completely free, no-obligation security risk assessment from our team. We’ll review everything you have in place and give you a full report explaining where you’re vulnerable and what you need to do to fix it. Even if you already have an IT team supporting you, a second set of eyes never hurts when it comes to your security. Book a 10-minute discovery call with our team here – https://tmtdemo.axionthemes.com/discoverycall/.

New And Urgent Bank Account Fraud Alert

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Malware Strikes Again

The infamous Xenomorph Android malware, known for targeting 56 European banks in 2022, is back and in full force targeting US banks, financial institutions and cryptocurrency wallets.

The cyber security and fraud detection company ThreatFabric has called this one of the most advanced and dangerous Android malware variants they’ve seen.

This malware is being spread mostly by posing as a Chrome browser or Google Play Store update. When a user clicks on the “update,” it installs the malware designed to automate the process of accessing your online accounts and extracting and transferring funds.

Besides being alert to this scam (and you should let your spouse, partners and family know as well), you should be aware of a few ways to protect yourself:

  • Avoid links and attachments in any unsolicited e-mail. Simply previewing a document could infect your device, so never open or click on anything suspicious.
  • To update your browser, simply close it and reopen. You don’t have to download an application to update it. Furthermore, the Google Play Store app will not ask you for an update, so don’t fall for any website alert or text stating you need to download an update.

But remember, bank fraud can manifest itself in several forms, including:

  1. Phishing Scams: Cybercriminals send deceptive e-mails or messages, often impersonating trusted entities like banks or government agencies, to trick you or your employees into revealing sensitive information like login credentials. Sometimes these are facilitated by phone calls, so make sure your team is fully aware of this. The latest MGM hack happened when a hacker called the company’s IT department requesting a password reset.
  2. Check Fraud: Criminals may forge or alter your business’s checks to siphon funds from your account, making it essential for you to secure your checkbook and be careful about sharing or e-mailing your account information. You might consider going checkless to cut down on the chances of your account being hacked.
  3. Unauthorized Wire Transfers: Hackers may compromise your online banking credentials to initiate unauthorized transfers, diverting funds to their accounts.
  4. Account Takeover: Criminals may gain control of your business’s online banking accounts by exploiting weak passwords, reused passwords or security gaps, such as e-mailing your passwords to others or storing your bank password in your browser, allowing them to make unauthorized transactions.
  5. Employee Fraud: Sometimes, even employees may engage in fraudulent activities, such as embezzlement or manipulating financial records.

To protect yourself, use strong, unique passwords for your online banking accounts and never store them in your browser. Also, update your passwords monthly with significant changes to them, using uppercase and lowercase, symbols and numbers that are at least 14 to 16 characters.

Second, always turn on multifactor authentication (MFA) so you’re notified if anyone tries to log into your accounts without your knowledge.

Third, set up alerts for large withdrawals. You can ask your bank to require a physical signature for wire transfers to protect you from someone taking money from your account without your signature.

Fourth, get fraud insurance that specifically covers employee and online theft so you are protected in the event a cybercriminal steals money from your account.

And, as always, make sure you have strong cyberprotections in place for ANY device that logs into a bank account or critical application. Far too many businesses think that if their data is “in the cloud,” they are safe. Remember, your bank account is “in the cloud,” and the bank likely has a secure portal, but that doesn’t mean YOU can’t be hacked.

If you want to ensure your organization is truly secure, click here to request a free Cyber Security Risk Assessment to see just how protected your organization is against known predators. If you haven’t had an independent third party conduct this audit in the last 6 months, you’re due.

It’s completely free and confidential, without obligation. Voice scams are just the latest in a tsunami of threats aimed at small business owners, with the most susceptible being the ones who never “check the locks” to ensure their current IT company is doing what they should. Claim your complimentary Risk Assessment today.