Tuesday, 16 April 2019

How can cyber risk policy be useful to your business?

Just the way every company has their rules pretty sorted in the Memorandum Of Articles, in the same way, Cyber security policy is mandatory. Firstly, all the assets are digital assets now to the maximum of the companies in the world, and the most valuable assets are data and resources. Secondly, all the transactions happen across the internet, so that is lying open to the threats too. Cyber risk policy should be implemented and followed strictly throughout. 

What is Cyber Risk Policy? 

The cyber risk policy determines the digital assets of your company, the probable potential threats to them, and the measures to safeguard them from such thefts. It is a policy or protocol to follow to maintain a sound digitally secured working environment. 

Issues that will cover initially:-
The first issue a cyber risk policy will safeguard is what are the information which can be shared, to whom it can be shared, and where it can be shared. Also, it will determine what devices will be capable to access the domain, and most importantly where to store the data. 

Issues that will be safeguarded:
• Passwords: Where to store the passwords, how to keep them safe, how often one should update the passwords, everything should be safeguarded by the policy. Preferably a Password should be alpha-numeric and cascade, both. Which should also be updated in every 2 months.

• Social media and internet access standards: The policy should clearly mention and state the sharable information on social media. What appropriate business information can be shared, on which platform it can be shared, that too will be mentioned. Which is the correct channel to post the newsletters to be signed by the employees too? Social media is a very sensitive platform to handle. A strict guideline should be also there regarding which social media and websites can be accessed during the logged in time from the same device. 

• Safeguarding the mobile devices: A guideline will be available protecting the removable USB devices, chips, cards, or any mobile device carrying data. Any abroad removable device should not be allowed to be accessed in the official working area, can be moderated according to the importance. Also scanning all the devices should be mandatory before using them, as a simple malware trigger can cost you your whole company at stake. 

• Firewall: The company should build the firewall in such a way that any website being the potential of threat will be restricted. All social media platform will be inaccessible, and also all the personal data will be altered from the working machine. Firewalls are the ultimate knights in shining armor, after all. Also, system updates like Patches and spam filter will play a crucial role too. 

• Email: A simple phishing will also cost a huge loss to the company, which should be safeguarded by the policy itself. 

A cyber risk policy can give a company the boost it requires to perform well, being the backbone of security. 

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