Strong Authentication and Regular Compliance Assessment Is Core to Fighting Cyber Crime

Companies can look at setting up special advisory committee or crisis management team comprising of executive and board members aligned with the Information Technology Amendment Act, 2008
Strong Authentication and Regular Compliance Assessment Is Core to Fighting Cyber Crime
Image credit: Pixabay

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
India Head and Vice-President, Collabera Technologies
3 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Expanding operations demand high use of technology and skills. Over time, businesses that implement tech initiatives without security and proper safety measures can put the whole system at risk. Leaders today realize that all resources, procedures, and performance must prevent, respond, report, and comply with regulatory compliance scans and updated documentation.

Every business leader works to understand corporate policies, internal and external compliance reports, and audits that secure the use of resources, software, machinery, and hardware. Leadership has to ensure that employees realize, opening an unsolicited email attachment, or acting upon unethical requests can lead to data leaks making confidential information available in the wrong hands resulting in colossal financial loss and much worse. 

Companies can look at setting up a special advisory committee or crisis management team comprising of executive and board members aligned with the Information Technology Amendment Act, 2008. The leaders should ensure effective policy implementation and in-time emergency measures to fight cyberattacks. International labor laws, compensation, and safety standards apply to every workplace. Consultants who are deployed on client projects require on-time contract renewals, health and skill documentation, and proper background verification.

The information security team within an organization must control all legal, physical, and technical documentation. User privacy, access rights, and controlling risk using certain standards such as spam email alerts, 24*7 service desk support, research papers, reports, and security bulletins are quintessential requirements today. Firms must spend on training, chat-lines, portals, and checkbox routines—as often as possible. Operation experts commend software reliability as a core solution to keeping information within the walls.

Policies are hard to comprehend, as these are technically legal with difficult to understand nuances. Stakeholders must be informed not to signup/download bank statements, money transfer receipts, corrupt or blocked URLs, passwords, illicit comments, unconventional audio-visual files. Rather than track breaches, scrutinized, and monitored regular software assessments.

Some of the most common security frameworks help reduce exposure to liability. Frameworks are used to assess cyber assets: NIST, ISO, CSA, etc., can help identify vulnerabilities and manage your risk mitigation plans. Teams in-house have ensured a single sign-on (SSO)—strong authentication on password verification systems are a must in browser-based, online, or tech application-based workspaces. IT specialists must ensure robust network access protocols are followed religiously and defense mechanisms are secured, such as firewalls, antivirus, and anti-malware.

Ask Your Stakeholders

License checks with product or service vendors need to be updated with proper protocols in place. Third-party risk assessment is critical; to regulate supplier demands and invoice evaluations, contracts, and audits. Supplier and service providers, third-party management involves much more than information security risks, complaints pertaining to cybercrimes such as mobile crimes, online, and social media hacks.

Online financial frauds, hacking, and online cyber trafficking are just a glimpse into the threatening burdens. Real-time, top-down, and bottom-up view of organizational compliance comprehension is important to reconcile with the maintenance and regulatory costs.

Multiple suggestions and certifications ensure regular assessment to fight cybercrime. Businesses can prevent hackers from penetrating firm systems, insiders compromising firm or client data, and mitigate operational risks. Businesses need to prioritize between assets and the most vulnerable loopholes within the operations’ cycle. Prevention needs to be a top priority. The aim is to create a security-focused workplace culture and train them to understand the consequences of unsecured exposure.

Latest on Entrepreneur