Cybersecurity is not just a buzzword. It is a vital aspect of any online business, especially for those who use hosting services. Hosting services provide the infrastructure and resources for websites, applications, and data storage. They are also the target of many cyber attacks, which can compromise your online presence’s security, performance and reputation.
In this blog post, we will explore why cybersecurity is an essential feature for any hosting service and how to protect yourself from ever-increasing cyber threats.
Cybersecurity: the cost and impact of cyber attacks
Cyber attacks are not only annoying and disruptive. They also cause significant financial and reputational damage to your business. Below are facts you should know about the threat of online attacks.
- The global average data breach cost was $4.35 million in 2022
- In 2022, 493 million ransomware attacks were detected by organisations worldwide
- Phishing remains the most common cyber attack in 2023
- In 2022, the average cost of breaches resulting from stolen or compromised credentials amounted to $4.50 million
By 2025, cybercrime is expected to cost the world $10.5 trillion annually. That money could fuel innovation, expand operations and build a more secure future for businesses like yours by having the right precautions.
Cybersecurity risk to small businesses
You might think that cyber attacks only affect large corporations or government agencies. However, that is not the case. In fact, 43% of all cyber attacks are directed at small businesses.
For anyone running a small business, it is critical to take data protection seriously and invest in robust cybersecurity measures that can keep your organisation safe.
Small businesses are often more vulnerable to cyber attacks because they lack the resources, expertise, and awareness to implement effective security practices. They may also rely on outdated or unpatched software, weak passwords, or insecure networks. These factors make them easy targets for hackers who can exploit their weaknesses and access their sensitive data.
Moreover, small businesses may not have an adequate backup or recovery plan in case of a cyber attack. This can result in irreversible data loss, downtime, or legal liability. According to a report by IBM, businesses can take up to 9 months to contain a data breach. By then, it may be too late to mitigate the damage or restore the trust and confidence of your customers.
The Risks of Using the Wrong Hosting Provider
Hosting services are essential for any online business. They enable you to create and maintain your website, store your data, and run your applications. However, hosting services also come with certain risks that you need to be aware of and address.
One of the main risks of hosting services is exposing your data to potential cyber security attacks. Suppose your hosting provider doesn’t have adequate cyber protection measures in place. In that case, your data may be compromised by hackers who can access it through server, network, or software vulnerabilities. This can result in data theft, corruption, ransomware, or other types of cyber attacks. That’s why having a hosting provider with a strong security track record and secure product is essential.
Another risk of hosting services is that they depend on the availability and reliability of your hosting provider. If your hosting provider experiences a technical issue or a cyber attack, your website may go offline or experience performance issues. This can affect your online visibility, customer satisfaction and revenue. Again, this is why choosing the right hosting provider is important to your business’s success.
Risks may not always come from those you do not know. This is because according to research, up to 40% of cyber threats occur directly through supply chains. These third parties in your supply chain may pose a security risk to your business if they do not follow proper security protocols or standards.
How to Protect Yourself from Cyber Threats
As a user of hosting services, you have a responsibility to protect yourself from cyber threats and ensure the security of your online business and customer data. Here are some tips on how to do so:
- Choose a trustworthy hosting provider with high-quality security features and guarantees. Look for features such as SSL certificates, firewalls, malware scanning, DDoS protection, backup and recovery options, and 24/7 support.
- Keep your software updated and patched regularly, or have it done for you. This includes your operating system, web server software, content management system (CMS), plugins, themes, and any other software you use on your website.
- Use strong and unique passwords for your hosting account, website admin panel, email accounts, and any other online accounts you have. Change your passwords on an ongoing basis and do not reuse them across different platforms or services.
- Enable two-factor authentication (2FA) or multi-factor authentication (MFA) for your hosting account and any other online accounts that support it. This adds an extra layer of security by requiring a code or a device to verify your identity before logging in.
- Educate yourself and your employees about the common types of cyber attacks and how to prevent them. For example, phishing attacks are often delivered through emails that appear to be from legitimate sources but contain malicious links or attachments. Do not open or click on suspicious emails or messages; always verify the sender’s identity and authenticity.
- Monitor your website and hosting account regularly for any signs of unusual activity or unauthorised access. If you notice anything suspicious, report it to your hosting provider and take immediate action to secure your account and website.
- Have a backup and recovery plan in case of a cyber incident. Ensure you have a copy of your website and data stored in a safe and separate location, such as an external hard drive or a cloud service. This way, you can restore your website and data quickly and easily in case of a data breach or if data is lost.
Cybersecurity is not something you can ignore or take lightly. It’s a crucial aspect of your online business that can affect your reputation, revenue, and customer loyalty.
By using untrustworthy hosting services, you expose yourself to various cyber threats that can compromise your data and website. Therefore, you must take proactive steps to protect yourself from these cyber threats and have effective security for your website.
Following the tips above can reduce the risk of cyber attacks and increase customer confidence in your business’s data handling. You can also benefit from the peace of mind of knowing that your business is safe and secure.
If you have any questions or concerns about cybersecurity or hosting services, feel free to contact us anytime. We’re here to help you whenever you need us.