In today’s digital world, businesses are facing more cyber threats than ever. From ransomware to data breaches, if there’s money to be gained, no business is too small to become a target. Unfortunately, not all small businesses have the resources or guidance to respond effectively to a cyber attack. In fact, 44% of Canadian organizations say they’d benefit from guidelines on how to handle a cyber incidentFootnote 1.
Having a solid incident response plan can mean the difference between a quick recovery and lasting damage to your business. Here’s how you can prepare:
Establish an incident response plan
An incident response plan is essential for any business. Even with strong security practices, cyber attacks can happen. Being prepared with a detailed plan can help you and your employees act quickly. Your incident response plan should include the following steps:
Detect
Start by assigning someone to be responsible for monitoring devices and data. This might be you or a dedicated IT employee. Identify who should be responsible for tracking security alerts. Create a clear process for employees to report security issues or unusual activity. Outline who you’ll need to notify in the event of an attack,including suppliers, investors and external security services that can help you respond. You should also have a communication plan ready to keep your customers informed if the attack impacts your operations.
Respond
If an attack happens, disconnect all devices from your network. Temporarily suspend employee access, especially if their accounts were targeted. Reach out to cyber security experts if needed to help identify the type of attack and how to combat it. Change any affected passwords and enable multi-factor authentication (MFA) on all accounts. You should contact your financial institution regarding the attack to notify them in case any financial information was compromised. Report the incident to the police, the Canadian Anti-Fraud Centre, and the Canadian Centre for Cyber Security.
Recover
Once the threat has been dealt with, you’ll need to restore your systems. Start by recovering your data from backups. Update all software, firewalls and firmware to prevent further breaches. You may need to patch and update your devices if you run into vulnerabilities. Run anti-virus and anti-malware software across all your devices to check for lingering threats. Lastly, take time to analyze the incident and strengthen any weak points in your cyber security measures. This should help you better prepare for future events.
Test your incident response plan
Having an incident response plan is most effective if your whole team is familiar with it. You should test your plan regularly to make sure everyone knows their role and to test for any areas that should be made stronger. Here are four different ways to test your plan:
- Use a checklist: Read through each step in your incident response plan and address all assets and systems that need to be considered if a cyber attack occurs
- Do a walkthrough: Break down each component in your incident response plan to identify areas where security could be strengthened
- Perform a simulation: Conduct a mock cyber attack to give your team practice and pinpoint any areas for improvement
- Set up system tests: Test backup systems by disconnecting your main systems temporarily to ensure business can continue if your systems are compromised
Conclusion
Cyber attacks can have serious impacts, especially on small businesses. Having an incident response plan in place and testing it regularly can help minimize the damage to your organization. By creating clear steps to detect, respond and recover, you and your employees will be able to react more effectively to cyber attacks. Make cyber security a priority and give your business the tools to stay secure.