The importance of Cybersecurity, and 5 Swiss companies to protect yourself and your company - #SwissTech Series
What is cybersecurity?
Cybersecurity is an overarching term including the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from malicious attacks. Common categories of cybersecurity include network security (protecting the network through which you access internet or data with applications like a VPN for example), application security (specifically protecting software’s against attacks) or information security (protecting your sensitive information).
Cybersecurity is about fixing when the attack occurred, but it is primarily important in the prevention of such attacks, for examples through the set up of a disaster recovery and business continuity plan, as well as extensive training for end-users.
As in-person crime, cybercrime can take various shapes and forms, and hackers are getting more sophisticated every day, multiplying the attacks in intensity, shapes, and forms.
From stealing your identity or credit card details to make online purchases (often through a tactic called Phishing), to preventing you to access your systems unless you pay a ransom (Ransomware) hackers can significantly harm your personal and professional lives.
Why is cybersecurity important for me and my company?
Cybersecurity is critical as nowadays, our businesses are highly digitalized, and without access to our data and systems, we are often incapable of working. Imagine not being able to access your emails, your files, or having to do without credit cards at a retail location or not having the possibility to check your hotel’s guest in?! The damages that an identity theft can bring are beyond comprehension unless you have already suffered one. Money stolen from your accounts, but also the ones from your contacts who believed you were asking them for a favor or sending them a legitimate file. From a professional standpoint, confidential information, trade secrets, and more may be exposed through a cyber attack, and your competitors might find out more than what you want them to know.
With cybersecurity, it is not a question of if but rather of when you will be attacked, and as said above these attacks can have sizable impact.
Based on recent surveys produced by companies such as Allianz and McAfee, cybersecurity is one of the top 3 business risks around the world, together with business interruptions (i.e supply chain disruption) and pandemic outbreak.
A few numbers illustrate very well the extent of this threat:
The average cost of a data breach was $3.86M in 2020 (IBM)
95% of cybersecurity breaches are caused by human error (Cybint), and it takes on average 207 days to identify a breach (IBM)!
88% of companies worldwide have experienced phishing attempts (stealing access credentials such as username and password, and/or personal data)
From large companies such as Marriott, Twitter, Uber, to more local companies around you, hackers target all kind of companies, not just the tech ones. Since the beginning of 2021, many major attacks have taken place, targeting companies such as Bombardier, Microsoft, and Accellion, causing deep damages to their operations. With the continuation of digital transformation across industries, and the development of IoT devices, it is critical to start investing now into your cybersecurity if you haven’t yet.
How can I protect myself?
While this is not an extensive or fool-proof list, here are some best practices to keep yourself and your company as safe as possible:
Stay alert: an email with an offer which sounds too good to be true? A communication from a person / company you don’t know or don’t expect a communication from? The look and feel of an email looks off? All of these are potential signs…while these might be legitimate communications, they probably are not. Take a look at the sender’s address, hover over the link they ask you to click to see if the domain seems legit, in doubt, just delete the email and contact the company / person, if it was legit, they can send it back.
Stay up-to-date: Software companies keep improving the security of their tools, to respond to new threats. They do that by publishing new versions of their apps or softwares. Make sure you regularly update your phone, apps, and programs.
Stay protected: install a robust and recognized antivirus - it is worth investing in a good one rather than a free version - and update it regularly. You can also use a VPN to further protect your online navigation, most antivirus offer this as a complementary service.
Use different complex passwords: these are tougher for hackers to get through. We are all tired of the hundreds of passwords to remember, but shouldn’t use the same password time and again. There are great password-solutions out there, as usual we recommend you look into the various options, and pick the one that seems the most appropriate for your needs, and comes from a trusted company.
Log yourself out & clean your browser: this is a best practice for all sites, not only for sensitive ones; but in particular when you leave a sensitive site, such as online banking or eCommerce, containing your financial information, it is always best to make sure your properly logged out of the system, not just close the window, and then clear your cache, to ensure no system works in the background.
Back up your data: in many places if possible, that relativises the impact of an attack, as you do not lose all your data / Have all of your data held in ransom.
If you have a doubt about a website or a file, we recommend you go on Virustotal.com to enter the url or upload the file in question and check out. Its free, and doesn’t replace an antivirus, but is considered to be trustworthy resource to find out about recent cybersecurity breaches. Another great tool to check if your personal data has been been leaked in one of the many cyberattacks that happen, you can enter your email on haveibeenpwned.com. This service will instantly tell you if your email was included in a data breach; as we all share our emails with many companies (hotels, loyalty programs, social medias, applications, and so on), it is important to know if it is safe or not.
Which Swiss companies can protect me and my company?
There are many companies in Switzerland focusing on Cybersecurity, and providing compelling services for you and your company, here are 5 companies we want to showcase:
ZENDATA is a Geneva-based company, geared towards small and medium companies in Switzerland and Europe. A leader in the cybersecurity field, its experts are often called by the media to intervene on national and international programs. From audits to emergency-response and crisis management, they are a great all-around partner for your cybersecurity. Their core expertise lays in proactive and continuous protection of your users, devices, network, and data; typically acting as an outsourced cybersecurity department.
Leveraging the power of AI to secure networks Exeon enables companies to rapidly identify and eliminate cyber threats. One of its key attractive feature is that it can be deployed in a matter of hours and doesn’t require any hardware. In particular for companies with limited resources dedicated to cybersecurity, they can be a great plug-and-play solution to protect sensitive information by multiplying exponentially the attention placed on threats.
Focused on communication and emails in particular – the most frequent means of attack / most vulnerable point in the information systems – Xorlab is a global leader in this field, and was recently selected in the CyberTech 100 list, as one of the most innovative in the world. Protecting against malware and identity theft, they provide a full-service approach to communications’ protection.
If you need to transfer files securely between your employees, check out Swiss Cyber Gate. They develop and manage secure and efficient solutions to do exactly that. Trusted by many companies, they empower you and your teams to collaborate securely whether you have 1 or 1000 employees.
To secure the access to your platforms – for your customers or your employees – you may want to take a look at Futurae, a Zurich-based startup providing a comprehensive authentication ecosystem. Offering through S-a-a-S subscriptions multiple ways to authenticate such as QR code, SMS, or through their own application providing a second factor of authentication, Futurae is a tailor-made service for companies of all sizes.
Cybercrime can also happen through texts, phone calls, or public wifi. Stay alert, think twice before clicking or downloading something to your device, and never leave that device unattended.
Where can I learn more?
CREDIT: DreamLab Technologies
As always, our articles are meant to awaken your curiosity, and feature select Swiss Technologies, leading in their field. To continue learning about the Cybersecurity landscape in Switzerland, we recommend taking a look at Swiss Cybersecurity Startup map produced and regularly updated by Dreamlab Technologies.
If you own a SMB, you might want to take the rapid check developed by Digital Switzerland, in partnership with the Swiss Confederation and leaders in the field.
We hope you enjoyed this article and are ready to act toward your cybersecurity today. Feel free to get in touch if you’d like some guidance, we’ll be happy to help put you in contact with the best provider for your needs.
The Swiss Tech Series will be taking a summer break and start again early September with the final 4 articles and the ultimate post featuring the interview of the CIO of a leading Swiss company, with global operations!
Next up (in September) : Education Technology
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