The average cost of cybercrime in the world has increased to $190,000 per second, or $11 million USD per minute. Stop for a second and just take that in. $11,000,000 USD per minute!
“The cost of a data breach forces 60% of small and medium-sized businesses to shut down within six months.”
A cyberattack can cause a lot of costs, such as lost revenue, lost time/productivity, costs to fix stolen customer data, and more.
This might make you think you need to spend alot of money on cybersecurity, this is not necessarily true, because most serious breaches happen as a result of frequent cybersecurity errors made by businesses and their staff.
According to a threat Report, which examined thousands of global data breaches, some of the most dangerous threats were what we call “everyday threats.”
According to the report, many of the most destructive attacks we’ve looked into have been the result of people failing to pay attention to one or more aspects of fundamental security hygiene.
Your business may be at high risk of a data breach, cloud account takeover, or ransomware infection if it is making a risky cybersecurity mistake.
Here are some of the most common mistakes when it comes to basic IT security best practices.
MUTI-FACTOR AUTHENTICATION IS NOT APPLIED (MFA)
According to IBM Security, the most common reason for data breaches worldwide is credential theft. Since most business operations and data are now stored in the cloud, login credentials are the key to many network attacks on businesses.
People often make the mistake of not using multi-factor authentication to protect user logins, which makes businesses much more likely to have a security breach.
A staggering 99.9% fewer fraudulent sign-in attempts are made thanks to MFA.
AVOIDING THE USE OF SHADOW IT
Shadow IT is when employees use cloud apps to store company data without permission or even the employer’s knowledge.
Companies are at risk from shadow IT use for a number of reasons:
Data may be used in an application that is not secure.
The backup plans used by the company do not include data.
The information might be lost if the employee leaves.
Using the app could violate corporate compliance requirements.
Because they’re trying to fill a gap in their workflow and are ignorant of the risks associated with using an app that hasn’t been reviewed by their company’s IT team, employees frequently start using apps on their own.
It’s important to make rules about how to use the cloud that tell employees which apps can and can’t be used for work.
You believe you can get by with just an antiviral application.
No matter how small your company is, you cannot be adequately protected with a basic antivirus program. In actuality, a large number of today’s threats don’t even use malicious files.
Phishing emails will include instructions sent to safe PCs that aren’t marked as infected or malicious. These days, links rather than file attachments are frequently used in phishing to direct users to malicious websites. Simple antivirus software won’t be able to detect those links.
You must implement a multi-layered strategy that takes the following into account:
Modern anti-malware (uses AI and machine learning)
Modern firewall
Email filtration
DNS filtration
Automated cloud and application security measures.
“Cloud access surveillance”
Not Setting Up Device Management
Since the pandemic, the vast majority of businesses have allowed employees to work remotely from home, and they intend to continue doing so. Device management, on the other hand, hasn’t always been used for business phones and phones used by employees who work from home.
You run a higher risk of a data breach if you don’t control security or data access for all the endpoints in your company, both company-owned and employee-owned.
It’s time to install a device management program like Intune in Microsoft 365, if you don’t already have one.
Not Giving Workers Sufficient Training
A startling 95% of cyberattacks are the result of human error. Too many businesses don’t take the time to train their employees regularly, so users don’t have the knowledge they need to create a culture of good cybersecurity.
Employee IT security awareness training should take place all year long, not just once a year or just before they start working. When IT security is a top priority, your team will be better able to spot phishing attacks and follow the right way to handle data.
Here are some strategies for integrating cybersecurity training into your company’s culture:
Brief instructional videos
Posters for IT security
Webinars: Team-building exercises
Cybersecurity advice in newsletters from companies
At PCtronics, we strive to exceed customer expectations at all levels. Because we have a lot of experience, we can come up with sustainable solutions that work for your business.
