3E Accounting Limited Founder Is Invited Speaker At Accounting And Finance Show Hong Kong
3E Accounting Limited Founder spoke at the first-ever Virtual Accounting and Finance Show Hong Kong, held live online on 22 July 2020.
Along with more than 60 speakers from various industry sectors, the management shared on the topic, “Cybersecurity Essentials for your Practice”. The session explained the possible consequences of poor cybersecurity and how to apply good cybersecurity practices to protect businesses and reduce productivity loss caused by cyber incidents.
Cyber Hygiene and Post COVID-19 Business Environment
In the post-COVID-19 business environment, remote working has become a norm for many companies. With individual employees requiring global connectivity and direct access to, and usage of cloud services, cyber practices in terms of the use of personal devices, home Wi-Fi and cyber hygiene like saving passwords in browsers could potentially pose threats to the company network.
Common Types of Cyber Security Threats:
- Phishing– Emails that appear to be from a trusted source with the goal of gaining sensitive data
- Ransomware– Attacker threatens to publish victim’s data or block access to it unless a ransom is paid
- Distributed Denial-of-Service (DDoS)– Overwhelms a system’s resources so that it cannot respond to service requests
- Man-in-the-Middle (MitM)– Hacker inserts himself between the communications of a client and a server
Good Cyber Security Practices
The management highlighted the importance of inculcating good cyber hygiene, a set of practices to manage the most common and pervasive data security risks that organisations face, to mitigate the common root causes of many cybersecurity issues, such as data breaches and malware infections.
With sufficient training and preparation, employees will be able to recognise and prevent threats from external sources. The management concluded by sharing good cyber practices, such as the use of a Virtual Private Network (VPN) and cloud-based tools, to protect businesses and reduce their vulnerability to cybersecurity threats.
