Why is Cyber Security Important for Your Business?

Why is Cyber Security Important for Your Business?

Technology has become a fundamental part of business and your data is one of your most valuable assets as a business, therefore cyber security should be one of your highest priorities. Tech Cyber-attacks are becoming increasingly common and more sophisticated therefore it is crucial that businesses implement strong controls and policies to ensure all company systems/data are protected and attacks are either prevented or detected prior to a potential attack. Cyber-attacks can cause damage to data and systems in addition to theft of personal and/or financial data.

While security levels across systems and devices are at an all-time high, cyber threats have become more complex. Under Federal Law No. 5 of 201 relating to Combatting Cyber, the UAE has made the act of utilising the internet to invade privacy of another individual, recording a conversation in audio or video form, photographing others without permission, etc, a criminal offence punishable by law. The UAE has introduced one of many initiatives, an online Cyber Security advisor ‘Salim’ which aims to raise awareness about cybercrime. ‘Salim’ provides simple steps and advice on how to implement a safe cyber culture in a home or business. Below, we outline what the most common cyber threats are to your business and how to protect yourself:

ThreatDetailsHow to Protect Yourself PhishingPhishing are false messages which ask for personal or financial information. Many times, these messages/emails look legitimate and even use company branding with links to real looking websites.• Check the email address and ensure it is someone you know • Look out for offers which seem too good to be true • Never give out personal information not through a secure gateway • Look out for emails requesting for confirmations on personal information • Always check the email address, even though the email may look legitimate if it is sent from a generic email address likes of outlook or Gmail, this is surely spam. PharmingPharming happens more often than expected, this again is an email where a malicious code is added to your device upon opening. Normally you are redirected to a fake website where again, like phishing, personal information is collected.• Check that the website address is correct with no mis-spellings • Always use a trustworthy ISP • Ensure the website changes to a secure HTTPS once the website asks you for payment or personal information. • Ensure the website is secure • Ensure that the website has a valid security certificate • Ensure that the initial website doesn’t redirect you to a different domain MalwareMalware is a malicious software which spreads viruses and spyware. This can be spread via emails, websites, pop-up ads and files which are infected. Malware installs software onto your device which allows for the infector to access all your files.• Do not open suspicious looking emails • Do not open unsecure websites • Install pop-up blockers • Do not open files from a non-trusted sender Invoice Email ScamScammers pretend to be real suppliers requesting changes to payment information. You may not notice that this is a scam until legitimate suppliers inform you of non-payment.• Be aware of this risk and always verify such emails with the actual supplier • Ensure that invoices are verified with current contact information recorded prior to payment

How to Keep your business safe from cyber threats

The cyber threat landscape is evolving, running a company comes with its fair share of risks especially if any part of your business is run online. Using the internet in any form makes your company a target for cyber-attacks and it is imperative that you protect your business from such threats. Just one attack could severely affect your business financially and hurt your reputation. So how can you keep your company safe from cyber security threats?

Security MeasureSuggestions Back Up DataIt is essential to back up company data in case any is lost in the event of a cyber-attack or breech. These back ups should be duplicated to a portable device or cloud storage service. Secure Your Computer and DevicesMalware or viruses can infect your computers and mobile devices. You should have security software installed (Anti-Virus, Anti-Spyware, Anti-Spam, Spam Filters) on your company computers and devices to prevent any potential infections. In addition, ensure that you set up a firewall for your internal networks. Monitor the Use of Computer EquipmentAlways keep a record of equipment and devices used by your company and ensure they are all secure. Protect Important InformationEnsure that data is encrypted when stored or emailed to ensure that it is only shared with those who are meant to have access. Manage Passwords EffectivelyAlways update passwords and only allow one dedicated administrator to have the ability to change passwords. Never keep a list of passwords online or email them as this can easily be retrieved by a cyber attacker. Ensure that you use strong passwords only which include a mixture of upper and lower case letters, numbers and symbols longer than 10 characters; this will increase your digital security. Educate your StaffIt is crucial that you educate your employees on potential cyber threats and the ramifications surrounding them. Staff should be trained on online practices and how to report fraudulent emails or suspicious encounters.

Important Links and Information:

About PRO Partner Group

PRO Partner Group have vast experience in offering the Local Partner service as a ‘Corporate Nominee Partner or entity’ rather than an individual UAE national. We add a layer of security to the client by limiting the number of clients under the company name, the shareholding of the 51% falls under one of many entities of the PRO Partner Group rather than an individual. It is extremely beneficial to choose a Corporate Nominee rather than an individual due to many reasons. With the initial set up, PRO Partner Group provide a structured Board Resolution and a Power of Attorney, so that the Foreign Investor has full legal rights over operations, provide full profit share and complete AGM voting rights.

PRO Partner Group look forward to assisting with your company formation requirements and local sponsor needs. For more information, please visit www.propartnergroup.com or email PRO Partner Group on info@propartnergroup.com

Share this article

Expert Advice

Book a call with one of our company formation specialists.

Please enter a message

Meet the Pro Partner Group team,
a vastly skilled and experienced UAE team