Myths around cyber security pose a real threat to organizations that are exposed to cyber threats each day. The first step to ensure the security of your business is to separate the false information, rumours and myths from the truth.
You don’t require cyber security because you’ve never been attacked.
Truth: You could easily be the next target.
If you’ve never experienced a cyber attack or data breach yourself, the chances are that you don’t know just how much damage they can cause. You may also assume that your current security posture is strong enough to keep the bad actors away since you’ve never been attacked. However, cyber threats and hacking tools are continuously evolving to become more and more sophisticated and undetectable each day. And any sensitive data is a potential target for a breach.
Cyber security is too expensive.
Truth: The cost of a good cyber security solution is nothing compared to the cost of a successful attack.
Even as malicious cyber attacks continue to make headlines and cost businesses millions, companies still wonder if cyber security investments are worth it. Data security is frequently overlooked and is only an afterthought for many enterprises. The average cost of a data breach in 2021 was $4.24 million, the highest in the last 17 years. And this figure does not include the damage that comes with the crippling reputational losses and customer losses from a breach. You can read more about this here
Cyber criminals only attack large businesses.
Truth: No business is ever immune to hacking attempts and malicious attacks.
Small and medium-sized businesses may often be under the false impression that their data isn’t valuable to hackers. However, small and medium-sized businesses are one of the top targets for hackers. A recent study revealed that hackers targeted small businesses more than 60% of the time. But only 14% of these businesses were prepared to defend themselves in such a situation. Hackers don’t discriminate when it comes to their victims. So, don’t let the size of your business, determine how valuable your data is or how secure your assets are. You can learn more about how to protect your devices in our Cyber security practical experience course.
Too much security diminishes productivity.
Truth: Enhanced cyber security can boost productivity.
There is a common idea that increased security makes it difficult for even employees to access what they need, not just hackers. Strict security policies such as regular monitoring and access control are believed to hinder productivity at work. However, doing away with security may have far-reaching consequences for your business. A successful attack like a DDoS attack or ransom-ware can bring your business to a standstill. Employees might not be able to access important files, networks, and information after an attack. The recovery takes days and sometimes even weeks.
Anti-Virus or Anti-Malware Software is enough to secure my business.
Truth: Anti-virus software may be vulnerable to emerging cyber threats.
The anti-virus software is an essential part of your cyber security plan. However, it only secures one entry point into your system. Hackers have many ways to bypass anti-virus software and infiltrate networks with attacks such as targeted phishing attacks, and ransom-ware. Even with anti-malware software in place, hackers will have plenty of room to launch an attack.
Cyber attacks are only caused by external threat actors.
Truth: Cyber attacks can very well start from someone you know.
Insider threats are on the rise and are fast becoming a cause of concern for businesses. Insider threats can include employees, vendors, contractors, business partners, or an external intruder trying to impersonate an employee. A recent survey revealed that insider threats are responsible for more than half of all data breaches. Traditional security solutions are largely ineffective when it comes to these threats. This makes them much harder to detect and contain than external threats.
You’ve achieved perfect cyber security.
Truth: There is no such thing as perfect cyber security against cyber attacks.
Cybersecurity is a continuous process that needs to be upgraded with the changes in the threat landscape. Its important to review your security policies periodically, conduct security audits, monitor your critical assets continuously, and invest in the upcoming updates in security measures.