Cybersecurity is a critical aspect of business operations in today’s connected world. Small, medium and large companies need to remain vigilant and proactive when dealing with risks posed by cybercrime. However, cybersecurity misconceptions can undermine the ability of businesses to prevent breaches.
Investing in robust IT security allows firms to detect and thwart cybersecurity threats. When done properly, it becomes easier to protect the organization’s digital assets and reputation. The failure to take threats seriously can undermine the viability of a company. Hackers exploit vulnerabilities in businesses of varying sizes.
Troy Drever with Calgary IT consulting company Pure IT shares five common misconceptions that contribute to the creation of vulnerabilities.
1. Our company or industry is not a target for hackers
Believing that your business or sector is not a magnet for hackers is a dangerous misconception. Cybercriminals attack different types of companies, including large and small businesses. Threats can appear even if your company does not collect financial data. In some cases, they target smaller firms believing they lack the resources to deploy robust information security systems.
Research studies have proven that criminals exploit any opportunities available to them. Hence, no organization is immune to cyberattacks because criminals can deploy different types of tactics to suit the target. They may gather sensitive data that compromises the reputation or viability of a business.
In many cases, they steal financial records and look for ways to undermine your operations. Criminals can exploit any device that connects to your network and employ it as a doorway.
2. A business only needs a firewall and antivirus software
Although deploying antivirus software and a firewall can protect against some threats, the solutions are inadequate without additional measures. Sophisticated hackers can mask an attack and avoid detection by antivirus programs. A robust cybersecurity strategy incorporates effective measures to prevent intrusion and safeguard networks against known threats.
To bolster security, your organization must have the ability to detect suspicious activity and take appropriate action. Some business owners rely on traditional endpoint security solutions to prevent cyberattacks. However, this approach may be inadequate to thwart all threats. Instead, you must adopt a more holistic approach to your cybersecurity strategy.
3. Cybersecurity solutions are costly
Failing to allocate funds to cover cybersecurity is a costly mistake committed by many companies. If you prioritize growth without investing in reliable IT security solutions, you may compromise your firm’s growth potential. Cyber threats can undo your organization’s progress by exploiting vulnerabilities. Criminals may steal information or commit fraudulent offenses that rob your business of capital or market positioning.
For this reason, you should avoid neglecting setting aside adequate funding for cybersecurity solutions. Information technology firms help reduce the cost of protecting your network through affordable IT outsourcing contracts. You can choose an outsourcing agreement that suits your company’s budget and cybersecurity needs.
4. Cyber threats only emanate from outside
Many business people believe that only external actors pose a threat to their organizations’ networks. This cybersecurity myth can compromise the ability to take a holistic approach to secure the network. Internal team members may betray the company’s trust by launching attacks from the inside.
You need to safeguard the systems from both internal and external attackers. It is vital to control access and monitor systems to detect suspicious internal activity.
5. Passwords provide sufficient protection
Over-reliance on passwords for protection can compromise the integrity of your network. Users can create risks by exposing passwords to third parties or making minimal changes to existing authentication details when prompted to replace passwords. These practices create a weak link in your company’s cybersecurity matrix.
In today’s environment, relying on passwords does not provide adequate protection from sophisticated cybercriminals. Brute force attacks can exploit vulnerabilities in password-protected systems.