Cybersecurity is an important part of today's business world, affecting both big companies and startups. In the second installment of the Cybersecurity Essentials for Startups series webinar hosted by The Top Voices, leading cybersecurity expert Ilia Dubov shared practical, affordable ways to keep startups secure — even without a big budget or a security team.
Speaker
Ilia Dubov is Head of Cybersecurity at Quadcode, an international fintech company specializing in trading and investment software. He has more than 11 years of experience.
Understanding Threats
Startups are often prime targets for cyberattacks due to limited resources and security expertise. According to research by Accenture, 43% of all cyberattacks target small businesses. Hackers seek the easiest entry points, taking advantage of weak security measures and human errors. Understanding how attackers operate is the first step toward building an effective defense strategy.
Using Cybersecurity Frameworks
Startups can enhance their security by adopting established cybersecurity frameworks that offer structured guidelines for protection. These frameworks assist in prioritizing security measures, reducing risks, and establishing best practices without necessitating large budgets. Notable frameworks include NIST Cybersecurity Framework (CSF), CIS Critical Security Controls, Cloud Controls Matrix (CCM), OWASP Top Ten & ASVS, and ISO 27001. By implementing one or a combination of these frameworks, startups can develop a structured security roadmap aligned with industry best practices.
Choosing Effective Security Measures
Selecting appropriate security measures is crucial for startups aiming to protect their assets without overextending resources. It is advisable to begin by conducting a thorough risk assessment to identify potential threats and vulnerabilities specific to your business. This involves evaluating your infrastructure, technologies, and team size to understand your unique risk landscape. Based on this assessment, it is advisable to prioritize security measures that address the most pressing risks. Implementing strong access controls, regular security audits, and fostering a culture of security awareness are foundational steps. Additionally, leveraging free or affordable cybersecurity frameworks can provide structured guidelines to enhance your security posture without significant financial investment. By systematically addressing vulnerabilities and adopting best practices, startups can establish robust defenses aligned with their operational needs.
Budget-Friendly Tools
Startups can bolster their cybersecurity without significant financial investment by adopting several cost-effective tools and practices:
- Password Managers and Multi-Factor Authentication (MFA): Implementing these tools ensures robust access control, safeguarding sensitive information from unauthorized access.
- Free Static and Dynamic Code Analysis Tools: Utilizing these resources helps identify and rectify vulnerabilities during the development phase, enhancing the security of applications.
- Web Application Firewalls (WAFs) and DDoS Protection: Deploying these solutions defends against common web-based attacks, ensuring the availability and integrity of services.
- Bug Bounty Programs: Engaging ethical hackers through such programs allows startups to uncover and address security weaknesses proactively.
- Data Backup Solutions: Regularly backing up data is a critical measure to protect against ransomware attacks, ensuring business continuity.
Distributing Responsibilities Without Hiring Specialists
To enhance cybersecurity, startups can effectively allocate tasks among their current employees. Leadership is responsible for defining the strategy and fostering a culture of security, while product managers, developers, testers, and IT specialists incorporate appropriate practices into their daily work. Raising awareness among all staff about cyber threats and adhering to basic security measures establishes a solid foundation for protection without the need to hire additional specialists.
Conclusion
Startups can protect their digital assets without significant investments or a dedicated cybersecurity department. By understanding threats, using frameworks, selecting effective security measures, leveraging cost-effective tools, and distributing responsibilities within the team, they can establish a robust security posture. Cybersecurity is not just about protecting a business but also about gaining customer trust, which is essential for long-term success.