5 of the Biggest Cybersecurity Risks to Your Business

The biggest cybersecurity risks to your business don’t come from outside but from within. Therefore, you need to understand where you are going wrong and address the issues.

Not Understanding the Tech You Use

Technology is all around us.

Yet, while many of us are proficient in using numerous devices and software, we have no idea how they work. But you can avoid many common issues related to data breaches and human error if you understand even the basics of how a smartphone, PC, or tablet works. This includes their place in your business hierarchy and security and user settings. A technology risk consultant can help given the complexity, scope, and scale of your networked systems, with an increasing exponent depending on your business size. 

Thinking It Won’t Happen to You

There is always the chance of a disaster at your business. Data disaster is common and comes from both internal and external sources. A common mistake many small businesses make is assuming they won’t be a target because they aren’t large enough. However, quite the opposite is true.

Most cyberattacks happen to small to medium-sized enterprises. Therefore, you need a plan for intrusion or attack. Also, consider that 80% of malicious incidents come from internal threats. Often these are the result of disgusted employees that affect security or leak data.

The Biggest Cybersecurity Risks Includes Data Loss

One of the worst offenses that an internal or external threat can commit is data leaking. Data loss poses a massive risk for your business because, in some cases, it is confidential to your company.

But in others, the data doesn’t belong to you, and you are in breach of data protection laws if it is stolen or lost. Such data theft includes private employee records and personal customer details. Which could also include credit card information and bank details. Therefore, you should backup ALL data as often as possible, whether hourly, daily or weekly.

Not Keeping Hardware and Software Updated

Most cybersecurity comes from within an organization. Yet the 20% of malicious intrusions that come from outside sources are easily preventable.

Simple cybersecurity software is usually enough to fend off all but the most talented hackers. But most entry is gained via software vulnerabilities such as the Microsoft Eternal Blue backdoor exploited by NSA programs. But hardware is just as susceptible to intrusion. For instance, a hacker could gain entry via a printer exploit because of outdated firmware, such as Samsung’s hard-coded admin accounts.

Ignorance and Complacency

Of course, it’s easy to blame others for failing to prevent an attack. But many significant incidents come from a company’s own ignorance.

Even in 2022, some of the worst hacking incidents come from poor password policies and employees opening suspicious emails. No employee can be blamed for wanting an easy-to-remember password or clicking a link. The buck stops with your network administration team. They alone are responsible for enforcing complex passwords with regular changes. And they must configure your cybersecurity settings.

Summary

If you think your business is safe from a cyber-attack, you are dead wrong. To prevent an attack, ensure to enforce password policies, keep hardware and software updated and stay vigilant.