Believing in These Cybersecurity Myths Could Jeopardize Your Business

Cybersecurity Myths Could Jeopardize Your Business

One of the biggest obstacles to smooth business operation is the threat of cybersecurity attacks. If your company’s cybersecurity systems are breached, it can lead to an incalculable loss of goodwill and money. Despite the ever-increasing number of security breaches ranging from amateurish hacking to very sophisticated phishing events, many businesses tend to believe in several security myths and leave themselves open to data breaches and loss of confidentiality. Some of the most common cybersecurity myths:

Installing Anti-Virus Software Is Good Enough to Keep Data Safe

No doubt, anti-virus software is vital for the smooth operation of your IT system, however, even the best anti-virus software cannot prevent all hacker attacks from succeeding. For ensuring complete protection of your IT infrastructure and data, you need to implement a comprehensive cybersecurity strategy that encompasses everything from threat detection to employee training and protection from security disasters.

It Is Enough to Have Strong Passwords

There is no denying the fact that strong passwords are intrinsic to robust cybersecurity practices. However, planning, implementing, and enforcing password policies are only the beginning of the process of keeping yourself safe. According to security experts, most companies tend to overlook what information is available and focus more on how people are accessing the information. Therefore, not only do you need to provide your employees with strong passwords but also you need to think about whom to allow access to the data. Strangely, many companies don’t have an IT security policy that restricting access to sensitive information to only those who need to access it. To make your data even more secure, you should implement a two-factor authentication system.

Only Specific Industries Are Targeted by Hackers

Many small business owners incorrectly assume that they will not be targets of data breaches because they are in industries that are not attractive enough for hackers. Unfortunately, the stark reality is your business can become a hacking target if there is any financially sensitive information. On many occasions, even if there is no data worth stealing, paralyzing a business to extract a ransom can be a worthwhile exercise for cyber miscreants.

SMEs Are Not Targeted by Hackers

Since only large-scale attacks on high-profile businesses get highlighted by the news media, owners of small and medium enterprises are often fooled to believe that their businesses are too small to be an attractive target for hackers. However, the reality is unfortunately quite different with CNN reporting that 43% of cyberattacks were aimed at small businesses and tragically only 14% were prepared to defend themselves. This is due to various reasons, one of the main ones being small businesses are not targeted specifically but become victims of automated hacking systems set up by hackers to make random attacks on businesses, irrespective of their size. With less budgeted for cybersecurity, smaller businesses tend to be more prone to hacker infiltration.

Conclusion 

For businesses to effectively protect themselves from malicious infiltration of their IT systems, it is needed to carry out a comprehensive threat analysis that includes both external threats as well as security breaches by people within the organization. Some studies go to the extent of suggesting that threats from the inside account for around three-quarters of all data breaches.

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