There are three ways to deal with the threat of cyber attacks: prevent, mitigate, and transfer.
Prevention is the most effective way to combat cyber attacks. Businesses can take proactive steps such as implementing strong passwords, encrypting sensitive data, and regularly updating software to prevent cyber attacks. Another important aspect of prevention is employee training. Businesses can train their employees to prevent cyber attacks by educating them on how to identify and avoid common phishing scams, how to create strong passwords, and how to keep their devices and software up-to-date. Resources such as online training courses, webinars, and workshops can be utilized to educate employees on cybersecurity best practices. Two resources we recommend are KnowBe4 and NINJIO.
Mitigation involves taking steps to reduce the damage caused by a cyber attack. This includes having a plan in place to respond quickly to an attack, identifying and isolating the affected system, and restoring data from backups.
Transferring the risk involves purchasing cyber insurance to protect your business from financial losses resulting from a cyber attack.