17 Nov The Risks of Neglecting Cyber Security (Don’t Make These Mistakes!)
The risks of not maintaining cyber security are not limited to hackers gaining access to your data. Many businesses don’t even realize they’ve been hacked until their data is used in a much larger scheme that involves multiple targets. Even worse, the stolen information can be used to launch a follow-up attack. Nowadays, virtually every small business relies on a number of different internet services. As the number of these services grows, so does the risk of a cyberattack.
Human factor
The Human Factor in Cyber Security is a growing concern for businesses. Human error is one of the most common reasons for attacks. Businesses worry about insiders and how they can use IT resources without permission. Luckily, there are many ways to prevent human failure. For example, you can give your employees secure devices to keep their files safe. Or you can use remote working to minimize distractions.
Regardless of how much you invest in cyber security, human factors are the number one cause of most security breaches. Human errors or insider threats account for a large percentage of security incidents, according to a Cybint Solutions report. IBM reports that human error will be responsible for 13% of all OT (Operational Technology)-related incidents in 2020.
Cybersecurity incidents can lead to significant disruption, financial damage, and reputational damage. While the human factor is rarely directly responsible for these incidents, it is important to recognize that human factors will continue to influence organisational cyber security performance. Therefore, it is important to understand the Human Factor in Cyber Security (HACS) Framework and consider its implications for your organization.
A holistic approach to the Human Factor in Cybersecurity is vital to the success of a cybersecurity program. The human factor helps security analysts anticipate criminal behavior and understand what motivates threat actors. Cybersecurity cannot be the sole responsibility of a team, but must be a shared responsibility among all employees of an organization and its ecosystem.
Human error is the number one cause of cybersecurity breaches, accounting for 95% of breaches today and 95% in 2021. If humans were prevented from making these mistakes, one out of every 20 security breaches could be prevented. Human error is often a result of negligence, improper access control, or lack of awareness.
Lack of executive awareness
A major problem in cybersecurity is a lack of executive awareness of cybersecurity risks. Many executives do not take the time to learn more about cybersecurity and therefore end up doing little to protect the company from cyber attacks. Executives are also easy targets for hackers because of their high-profile roles. Hackers can exploit their position to gather information and craft fake messages. Executives also tend to be fast-paced and have emotional triggers. Even governments are in need of local government cyber security services.
Despite the need for executive awareness, many executives do not share security incidents with other executives, despite the fact that external collaboration is an effective offensive capability against cyber-criminals. Additionally, CFOs and CMOs do not have a strong interest in cybersecurity threat management and are less likely to share information with peers. This makes it more difficult to prevent cyberattacks and protect the company’s most valuable data.
Updating software
Neglecting to update software can be a costly mistake for organizations. Not only do you expose your organization to viruses and malware, but you can also make yourself vulnerable to hacker attacks. This is particularly dangerous for companies that store sensitive data, such as medical records and trade secrets. Moreover, updating software can prevent malicious crypto attacks, which lock up files and hold them for ransom. This type of attack impacts about 700,000 users each year.
Luckily, there are ways to ensure your software is up to date without the need to install new versions of software. For example, Apple recently released a new version of Safari to fix a bug that may allow websites to access Google account information and browsing history. Similarly, Microsoft releases monthly updates for Windows and Office. These updates contain hundreds of security fixes. Also, it’s a good practice to back up your files and settings to an external device or cloud-based services. You should also send crash reports to software vendors whenever you discover bugs, which can help them stay ahead of hackers.
In addition to preventing malware, updating software regularly will plug vulnerabilities and make systems more difficult to breach. The most common type of malware is ransomware, which encrypts your personal files and demands a ransom from you in order to unlock them. Simple software updates will prevent ransomware attacks.
Outdated software can also cause problems in your employees’ workflow. For example, your employees may not be able to open files from newer versions of software, or they may experience compatibility issues with older versions. This inefficiency in data exchange can decrease employee productivity.
Using paper for passwords
There are many reasons to avoid using paper for passwords in cyber security. One of the main reasons is that these passwords are easy to guess, which makes them more vulnerable to cyber attack. Moreover, paper passwords are easily shared with others, which can make them less secure. Many people also write down their passwords to remind themselves to change them or to give them to someone else.
A recent study showed that 69.7% of users in an experimental group did not use paper to write down their passwords. This indicates that the password policy is ineffective in improving security. The authors suggest that organizations do not force users to follow the password policy and encourage them to use long passwords and passphrases instead. The researchers also included an educational message that encourages users to create strong passwords.
Social engineering
Social engineers use different methods to gain access to your company’s data. They can pose as a legitimate organization and send emails with malicious attachments. Clicking on these emails can install malware or ransomware onto your computer. If you respond to these emails, you could be compromising your company’s data.
Social engineers target low-level employees and their behaviors. They study their habits and patterns in order to identify weaknesses. Once they have gathered enough information, the attackers can design an attack around the information they’ve collected. They then use this information to gain access to sensitive information and protected systems.
The best way to protect your company’s information is to prevent social engineering attacks. One way to do this is to hire a security professional who specializes in social engineering. Many cyber security consultants are not familiar with these types of attacks. They often work in a different environment. For example, if your company’s IT department doesn’t have a dedicated social engineering team, you might find yourself vulnerable to phishing attacks.
Social engineering attacks can be difficult to detect and prevent. They often involve psychological manipulation and use emails and other communications to fool unsuspecting employees. As a result, victims are tempted to divulge sensitive information or open malicious links. They may even be manipulated by claiming to be a government agent.