Free-of-Charge Cybersecurity Toolkit for Global Small Businesses


©iStock/Traitov

When it comes to cybercrime the risks are great, especially for small businesses that are the lifeblood of the global economy.

The statistics, according to the World Economic Foum (WEF) show that 58% of cybercrime targets small businesses, with the global cost of cybercrime standing at $600 billion in 2018.

What many people don’t know, however, is that small businesses are often the easy way into larger enterprises. Attackers will, for example, gain access to the credentials of a small business in the supply chain of a large enterprise as a pathway into the larger company, and the breach will often go unnoticed until after the attack has been carried out.

Read more about how helping small businesses fight cybercrime benefits the global ecosystem.

Tip of the day:  The GCA Cybersecurity Toolkit for Small Business enables smaller firms to navigate the confusing array of advice free of charge, to help them shore up their cyber defenses and reduce their cyber risk.

Let’s all work together to fight cybercrime on a global scale!

3 Cybersecurity Tips for Entrepreneurs

Cybersecurity is key to any successful business. Here are three basic tips for getting started.

1 min read

  • Keep all of your software up to date to cut down on vulnerabilities that bad actors can exploit. 
  • Back up all of your files via a cloud storage service, external hard drive or — even better — both. 
  • Always turn on two-factor authentication, which incorporates texts and emails into the login process. Where you can, consider opting for three-factor authentication, which combines the use of a password, an item you have in your possession (such as a fob) and a characteristic that’s unique to you (such as a fingerprint or face ID). 

You can find more cybersecurity tips in The Business Owner’s Guide to Financial Freedom

How Agio helps Hedge Funds Improve Cybersecurity based on DDQ

For every hedge fund, Due Diligence questionnaires are an essential part of day-to-day management of the company. You will need these questionnaires to know the kinds of questions that your customers are asking. In addition to that, a DDQ can be the perfect marketing tool if you know how to use it well. However, one of the things that threaten the effective use of a DDQ is cybersecurity.

Securing hedge funds DDQ

The possibility of losing your information while handling these questionnaires is always reality. In addition to that, there are third parties that could use that information to harm your organization. To avoid these risks, Agio has one of the best solutions.

Using the latest technology

When you ask your managers to respond to a DDQ, the threat of cybersecurity and fraud can be minimized when you use the newest technology. You need an automated service that will detect when there s a breach on our data.

Additionally, you will notice that the respondents on your questionnaires tend to manipulate the information to suit their situation. It is because of this situation that Agio has come up with the latest advancements n technology so that you are protected all the time.

They also keep upgrading their systems to provide you with the best experiences.

Managed cybersecurity services

Having a dedicated service provider is one of the best things that can happen to your organization. As a hedge fund, you have a lot of tasks to complete every day. Most of these tasks include interacting with your customers to find out their experiences. As you do that, you will notice that you hardly have time to keep track of your data and therefore, it is always at risk of being stolen.

When you have a managed service such as the one provided by Agio, that risk is eliminated. Therefore, you can focus on improving your services while resting assured that all security needs are well-taken care of.

Transparent tools

Developing the best tools to manage data when using a DDQ to manage your hedge fund is what Agio does best. Their tools are open so that you can track all the activities. In addition to that, you will get regular reports so that in case of a threat, you can mitigate it easily.

One of the most significant advantages of using transparent tools is that you can always go back and find out where the problem started. Therefore, it becomes much easier to avoid future threats, and that is how you keep your origination safe from cybersecurity issues.

Conclusion

Log management, intrusion detection, and Vulnerability management are part of the cybersecurity services that Agio gives you. By managing all these aspects, they ensure that even as you get information through a DDQ, you do not have to worry about the security of your data. The remote support features ensure that your end users remain productive and you can leverage the on-demand IT services to make your data even safer in this era when identity theft has become a significant concern for hedge funds.

Let’s get serious about cybersecurity

Cybersecurity is important. You know that. We know that. But why are so many businesses not doing enough about it? It can be for a number of reasons, from lack of knowledge to lack of budget. But just because you’re a small business doesn’t mean you can’t protect yourself. There are plenty of things you can do that can have a huge impact and won’t break the bank.