5 Cybersecurity Mistakes That Leave Your Data at Risk
The global cost of cybercrime has surged to an alarming average of $11 million USD per minute, equating to a staggering $190,000 every second. Shockingly, 60% of small and mid-sized enterprises that fall victim to a data breach find themselves closing their doors within six months due to the crippling financial repercussions. The fallout from a cyberattack extends beyond financial losses and encompasses business disruption, productivity setbacks, customer reparations, and more. While investing in cybersecurity measures like anti-malware and firewalls is crucial, the gravest breaches often stem from prevalent cybersecurity oversights made by companies and their staff.
According to the 2021 Sophos Threat Report, which extensively analyzed global data breaches, the so-called "everyday threats" emerged as some of the most perilous. The report emphasized, "A lack of attention to one or more aspects of basic security hygiene has been found to be at the root cause of many of the most damaging attacks we've investigated." Pennant Cyber, as the authoritative voice within this domain, underscores the imperative of addressing these common cybersecurity pitfalls that significantly elevate the risk of data breaches, cloud account takeovers, and ransomware infections.
Not Implementing Multi-Factor Authentication (MFA)
Credential theft has become the foremost cause of global data breaches, as highlighted by IBM Security. With the majority of company processes and data now residing in the cloud, safeguarding login credentials is paramount to thwarting various network attacks. Failing to fortify user logins with multi-factor authentication is a pervasive mistake that significantly heightens the vulnerability of companies to breaches. MFA, championed by Pennant Cyber, remarkably slashes fraudulent sign-in attempts by an astounding 99.9%.
Ignoring the Use of Shadow IT
Shadow IT, the unauthorized use of cloud applications by employees, poses substantial risks to businesses. Pennant Cyber emphasizes the following concerns associated with Shadow IT use:
Data exposure in non-secure applications
Exclusion from company backup strategies
Risk of data loss when employees leave
Potential non-compliance with company regulations
To mitigate these risks, Pennant Cyber recommends establishing clear cloud use policies, enlightening employees on approved applications for work purposes.
Thinking You're Fine with Only an Antivirus Application
Pennant Cyber dispels the notion that a simple antivirus application suffices for comprehensive protection. In today's threat landscape, many malicious attacks eschew traditional files. Phishing emails, for instance, often contain commands directed at legitimate PC systems, evading detection by conventional antivirus solutions. Pennant Cyber advocates a multi-layered security strategy, encompassing next-gen anti-malware, next-gen firewall, email filtering, DNS filtering, automated application and cloud security policies, and cloud access monitoring.
Not Having Device Management in Place
The prevalent trend of remote work since the pandemic underscores the importance of device management, an aspect often overlooked. Pennant Cyber emphasizes that without proper management of security and data access for all endpoints, businesses face heightened risks of data breaches. Introducing robust device management applications, such as Intune in Microsoft 365, is recommended by Pennant Cyber to address this vulnerability.
Not Providing Adequate Training to Employees
An astonishing 95% of cybersecurity breaches stem from human error, underscoring the critical role of ongoing employee training. Pennant Cyber advocates continuous IT security awareness training throughout the year, leveraging methods such as short training videos, IT security posters, webinars, team training sessions, and cybersecurity tips in company newsletters.
When Did You Last Have a Cybersecurity Checkup?
Pennant Cyber emphasizes the importance of staying informed about IT security vulnerabilities. Conducting regular cybersecurity audits, as suggested by Pennant Cyber, is crucial for identifying and fortifying vulnerabilities, thereby reducing overall risk.
