Cyber risks, once just the plot of Hollywood movies, are now a risk for all businesses. Manufacturers can take steps to reduce risks including the danger of a ransomware attack that shuts your business down.
The good news is there are practical steps you can take that are not time consuming or expensive. Our strategic partner Varnum LLP takes this opportunity to share how you can be proactive:
Implement security measures: Most digital devices or apps have features you can turn on to reduce risk. Enabling multi-factor authentication, requiring complex passwords and periodic resets, and having a policy for use of personal devices go a long way.
Testing: Doing regular penetration testing and vulnerability scans will identify gaps in your IT that a bad actor might use to get into your systems.
Updates: Update software applications on a systematic basis so you get the benefit of fixes and improvements your vendor is making.
Incident Response Plan: You want a plan in place in case you have a security incident. Cyber incidents are high stress. You can help minimize the damage by having a written plan about who needs to do what and who to contact if you have an event.
Training: Training employees on a regular basis ensures that everyone is aware of potential threats and how to avoid them (don’t click on that unfamiliar link!). Simulated phishing attacks can teach your team to spot and avoid threats.
Insurance: Talk to your broker to make sure you have the right cyber coverages.
--- Bhashit (Sheek) Shah and Harvey Koning from the Varnum LLP law firm.
Varnum Cyber Security Practice: