{"id":57518,"date":"2023-01-16T20:32:00","date_gmt":"2023-01-16T20:32:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/improving-cyber-security-is-good-for-business\/"},"modified":"2024-02-08T11:48:17","modified_gmt":"2024-02-08T16:48:17","slug":"improving-cyber-security-is-good-for-business","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/improving-cyber-security-is-good-for-business\/","title":{"rendered":"Improving Cyber Security is Good For Business"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/cyber-tips\/\">\n\t\t\t\t\t\t\t<span>Cyber Tips<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Improving Cyber Security is Good For Business<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Diane Amato<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-01-16T151549.251.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Woman Standing at work \/ office\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-01-16T151549.251.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-01-16T151549.251.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-01-16T151549.251.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Improving Cyber Security is Good For Business &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/improving-cyber-security-is-good-for-business\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/improving-cyber-security-is-good-for-business\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published January 16, 2023 \u2022 4 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>A recent Statistics Canada <a href=\"https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/221018\/dq221018b-eng.htm\" target=\"_blank\" rel=\"noopener\">report<\/a> found that 18 per cent of Canadian businesses suffered cyber security attacks in 2021, with large businesses hit hardest (37 per cent) compared with small (16 per cent) and medium-sized companies (25 per cent). Any size of business can be a target for a cyber attack, but an <a href=\"https:\/\/www.rbc.com\/newsroom\/news\/article.html?article=125516\" target=\"_blank\" rel=\"noopener\">RBC survey<\/a> found that 32 per cent of Canadian small business owners aren&#8217;t prepared.<\/p>\n\n\n\n<p>While businesses may claim a lack of resources and funding to implement cyber security strategies, protecting your business doesn&#8217;t have to come with a high price tag. Investing in cyber security can be a business enabler and help you build a successful and secure organization.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-here-are-5-tips-to-help-protect-your-business-and-leverage-cyber-security-for-growth\">Here are 5 tips to help protect your business and leverage cyber security for growth.<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. Build a cyber secure culture from the top down<\/h3>\n\n\n\n<p>In a recent conversation between RBC Chief Information Security Officer Adam Evans and Michael Argast, CEO of Kobalt.io, Argast explains that an organization&#8217;s resilience depends on building a cyber security culture. \u201cA culture isn&#8217;t just some person in a closet in IT working on the problem, but it starts with a Board and impacts leadership and management, all the way down to the frontline employees who interact with customers and deal with the day-to-day work for the company.&#8221;<\/p>\n\n\n\n<p>When security is a top priority for an organization, it becomes embedded into its DNA, and everyone understands the priority cyber security has on delivering business services.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Limit who manages and installs software<\/h3>\n\n\n\n<p>As cyber criminals become more sophisticated, it can be more difficult to recognize what is legitimate and what is not. In recent years, there have been numerous incidents of customers being victims of ransomware when a fake \u201csoftware update&#8221; was pushed out from a vendor. Experts believe a &#8220;zero trust&#8221; approach is needed to help protect against such attacks. Limit your staff&#8217;s ability to install new software or run updates unsupervised. While it&#8217;s more work for IT managers who oversee installations, the cost to protect your company and your customers is low compared to the risks you&#8217;re avoiding.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Implement multifactor authentication<\/h3>\n\n\n\n<p>Multifactor authentication (MFA) is a simple way to add security to the accounts that your employees access every day. MFA, also known as Two Factor Authentication (2FA) requires a second kind of verification \u2014 such as a fingerprint or PIN \u2014 and can help prevent common vulnerabilities like reused passwords by offering a second line of defence.<\/p>\n\n\n\n<p>Using MFA, you can help improve your data security and shield user data from unwanted access, protecting your business from data loss and downtime.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Train your employees<\/h3>\n\n\n\n<p>Since the start of COVID, the volume of phishing, vishing, business email fraud, and other attacks has doubled. As Michael Argast explains, \u201ceducating employees is not only important to protecting day-to-day operations, it can help you achieve compliance and accelerate the growth of your business.&#8221;<\/p>\n\n\n\n<p>Because cyber criminals use deception and human error to compromise information systems and assets, educating employees about common cyber threats can help protect your organization and minimize risks.<\/p>\n\n\n\n<p>Training can involve addressing topics such as password creation, social media safety, approved software applications and identifying malicious emails. It&#8217;s an essential \u2014 and low-cost \u2014 way to creating a cyber secure operation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. Promote your cyber security practices<\/h3>\n\n\n\n<p>Once your cyber security practices are in place, letting your clients, users and partners know can help you grow your business. As Adam Evans explains, businesses that adopt strong cyber security measures are &#8220;more resilient to the digital threat landscape, their services are up for longer, and they can continue to deliver business to their clients.&#8221; Argast agrees, saying, \u201cbusinesses that invest in security and can prove to their clientele that they&#8217;re doing the right things find that their sales cycles are faster and they&#8217;re able to win larger and more complex deals with more mature clients.&#8221;<\/p>\n\n\n\n<p>While nearly a third of small businesses in Canada aren&#8217;t prepared for a potential cyber attack, the cost and effort of protecting the organization shouldn&#8217;t impede your action. The better your cyber security controls and practices, the more you can win business, gain clients&#8217; trust and be in a position to accurately and consistently deliver the services you promise to provide.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-f86a930f-4ffa-403d-a0d2-f421cbf8e3fa\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Improving Cyber Security is Good For Business &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/improving-cyber-security-is-good-for-business\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/improving-cyber-security-is-good-for-business\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-4948aeb9-0576-4180-9b70-36a1cdc84cb5\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/cyber-tips\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Cyber Tips<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Entrepreneur<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div 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300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Tax-Tips-Article-Image.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/understanding-cyber-security\/\">\n\t\t\t\t\t\tUnderstanding Cyber Safety\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/understanding-cyber-security\/tax-tips-how-taxpayers-can-protect-their-data-this-season\/\" class=\"card-title h4 mar-t-0\">Tax Tips: How Taxpayers can Protect their Data this 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class=\"card-title h4 mar-t-0\">Cyber Security for Businesses: How to Prevent and Respond to Scams<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Digital-Safety-Scams-Personal-Article-Image_EN.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Paperback booklet on a table.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Digital-Safety-Scams-Personal-Article-Image_EN.jpg 1080w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Digital-Safety-Scams-Personal-Article-Image_EN.jpg?resize=300,225 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Digital-Safety-Scams-Personal-Article-Image_EN.jpg?resize=768,576 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Digital-Safety-Scams-Personal-Article-Image_EN.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/understanding-cyber-security\/\">\n\t\t\t\t\t\tUnderstanding Cyber Safety\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/understanding-cyber-security\/digital-safety-and-scams-how-to-protect-yourself-online\/\" class=\"card-title h4 mar-t-0\">Digital Safety and Scams: How to Protect Yourself Online<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-f86a930f-4ffa-403d-a0d2-f421cbf8e3fa {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-f86a930f-4ffa-403d-a0d2-f421cbf8e3fa {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-4948aeb9-0576-4180-9b70-36a1cdc84cb5 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-4948aeb9-0576-4180-9b70-36a1cdc84cb5 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>5 tips to help boost your cyber security, protect your business and help it grow and thrive.<\/p>\n","protected":false},"author":10,"featured_media":53453,"parent":57323,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[135,157],"rbc_content_type":[31],"rbc_audience":[110],"rbc_lob_group":[35,133],"rbc_difficulty_level":[33],"rbc_mmm_category":[321,376,304],"class_list":["post-57518","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-cyber-tips","tag-entrepreneur","rbc_content_type-article","rbc_audience-business-owners","rbc_lob_group-business","rbc_lob_group-cyber-security","rbc_difficulty_level-beginner","rbc_mmm_category-cyber-security","rbc_mmm_category-cyber-security-for-business","rbc_mmm_category-money-academy"],"acf":{"contently_publication_id":"346025","custom_author":"Diane 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