When it comes to securing your business’s cyberspace, there are some things that put you at a greater risk for attack. These things often involve a lack of awareness about threats or potential problems within your business, a lack of proper tools to prevent attacks, and some things you can’t exactly prevent, like social engineering. Even if you can’t prevent certain things, it’s important to be aware of them so you can recognize when they’re happening and take swift action.
Data breaches are among the biggest threats to the modern business, with the average cost of a data breach for a small business coming in at around $200,000—enough to put most small businesses out of business permanently. Securing your company’s data is something that takes awareness, effort, and the right tools for the job. In this guide, we’ll cover the common risks for data breaches, as well as some potential solutions to keep your business safe from cybercrime.
You might be surprised to learn that the biggest risk for a business’s cybersecurity isn’t some legendary hacker 3,000 miles away, but rather the carelessness of the company’s own employees. That’s right—many breaches occur because of carelessness from internal sources, and that’s a problem that’s almost entirely preventable. Encouraging better cybersecurity habits for your employees starts with making them aware of potential threats, as well as how they can contribute to them.
The important thing to remember is that employees are only as effective at preventing cyberattacks as you arm them to be. If you give them the right tools and knowledge to work with, most of the time, they’ll do their best.
Poor Password Habits
A large part of the cybersecurity problem in both personal and business web accounts is the misuse or negligence of passwords. In fact, most breaches occur because of a compromised password, and you might be surprised to learn that almost 65% of people reuse passwords at work. This simple oversight, which seems almost harmless, can actually cause incredible devastation to a business. If an employee uses the same password for all of their work logins, a hacker only needs that one “key” to open many doors; thus multiplying the damage tenfold that can potentially be done. It’s important to not only teach your employees about the importance of good password habits, but also to provide them with the right tools to manage and create better passwords. Password managers are a great place to start and can help protect all of your company’s passwords for just a few dollars each month.
Not Having The Right Protection In Place
Your company needs to have all-around protection to protect from every kind of threat, and to do that, you need the best EDR security with SentinelOne. EDR, or endpoint detection and response, is a security protocol that helps protect data by providing end-to-end monitoring of cyberthreats and responses to attacks. This powerful software can monitor for the latest threats, identify them, and act as soon as possible to mitigate the damage done.
Companies that don’t use EDR security are often slower to respond to a cyberattack. Cyberattacks can begin and end in just a few minutes, or even seconds, depending on the sophistication of the machine and the hacker. Having the right protection in place will provide you with warnings and act on the threat as quickly as possible, potentially saving your company thousands of dollars in damages.
This is one of the simplest but most exploited problems in cybersecurity. When your software is outdated, it often only requires the press of a button to update. But, with our busy professional lives and deadlines to meet, many of us click the “remind me later” button, only to forget about it all together. Unfortunately, this simple oversight can open up a door for hackers to exploit. Keep your software updated to ensure you’re protected.
Social Engineering Attacks
Social engineering attacks are becoming more and more prevalent and more sophisticated with time, which puts them at the top of the list for cyberthreats. These attacks involve potent manipulation tactics in which the attacker gathers information about the intended victim and uses it to manipulate them into cooperation. These kinds of attacks include the recent IRS scam, where callers posing as federal employees demand overdue tax payments and threaten jail time if the victim doesn’t comply, and phishing emails. Remember the Nigerian Prince scam? This phishing attack still generates thousands of dollars every single year.
Social engineering attacks are so dangerous because the most sophisticated ones are difficult to spot. If you see suspicious emails, always deleted them or report them as phishing emails. Gmail has a “report phishing” button you can use. Also, remember that government employees will never threaten you with jail time over the phone!
Lack Of Awareness
Awareness is the greatest weapon that both you and your employees have against cyberattacks. By staying informed and keeping everyone who works for you informed, you stand a better chance of recognizing, preventing, and mitigating the damage caused by cyberattacks. Take some time to train employees on cybersecurity best practices, and offer
The Bottom Line
Cybersecurity should always be taken seriously, whether you’re a smaller startup or a massive corporate giant. Creating a more secure cyberspace for your business can potentially save you thousands in damages, and keep your company’s reputation for security intact.