4 Avoidable Reasons Why Cybersecurity Measures Fail To Protect Your Business
In the past few years, alarming accounts have been emerging about how some of the biggest tech companies reported massive failures in their cybersecurity measures. These companies include giants such as Facebook, Yahoo, Friendfinder, Uber, and even the credit reporting organization Equifax. These companies incurred losses worth millions of dollars.
As a small business owner, if you’re under the impression that the scale of your company will help you stay under the radar of sophisticated hacking, you couldn’t be more wrong.
The fact is that cybercriminals are known to target small businesses since they generally have weaker defenses. Check out this report on HelpNetSecurity that reveals how at least 51% of businesses are aware that they don’t have adequate cybersecurity measures.
Even more worrying is the fact that 43% of all hacking incidents target small enterprises. Once a cyberattack is successful, around 60% of businesses will close down within six months because they lack sustainability.
Studies conducted by the folks at HackEDU have revealed an interesting fact. While data breaches can occur at any time, most of them can be prevented by taking a few basic precautions. These strategies enhance the defense provided by complex solutions that cost businesses millions of dollars. Read ahead and find out how.
Poorly-Written Code And Badly-Executed Applications
Cost-cutting while trying to establish business results in many entrepreneurs settling on software and applications that do the job, but lack efficient data breach deterrents. Poorly-written code that is badly implemented can make the entire system vulnerable to hacking. You also put an integrated system at risk. The potential holes in your security are like an open invitation for cybercriminals.
How to deal with the problem? Hire expert software consultants who are trained to think like hackers. They’ll efficiently identify and patch the weaknesses in your defenses. Certified ethical hackers are now a part of the chief information security officers (CISOs) working in large corporations across the world. Their services are indispensable because they understand the kind of threats companies can face and identify disastrous vulnerabilities.
Bugs And Errors An The Software
One of the key vulnerabilities in your cybersecurity measures is the existence of bugs and errors. Bugs are typically the result of human limitations and time constraints. Development teams overlook the occasional mistake. Oftentimes, businesses continue to use legacy code that is no longer supported by the original manufacturer.
Typically, vendors of operating systems and other software development and circulate updates from time to time. By installing these updates, you can keep your systems secure and protected from hackers. Neglecting to upgrade raises the risk of data breaches.
Furthermore, if your IT team is not trained and equipped to understand different classes of bugs and errors, your business is open to cyberattacks.
How to deal with the problem? Buy and install solutions from high-end companies that will support their products for a good long while. They’ll send you the most advanced firewall protection to keep your business secure.
Check out this post on Norton that explains how updates not only ensure that the software keeps running by eliminating bugs and errors, but also repair security holes that can allow malware to infect your systems. You’ll also secure saved customer data and prevent hackers from accessing it.
Your Cybersecurity Applications Are Sending You Alerts
While cybersecurity measures should integrate alerts to inform you of potential threats to your systems, that can result in an overwhelming amount of data. It is not humanly possible to sort through endless files to identify relevant alerts that need to be addressed. Also, when searching through tons of information, it is not unusual for IT teams to overlook actual cyberattacks.
How to deal with the problem? Adopt automation in your cybersecurity measures. Invest in AI-powered technologies that work out to be more cost-effective in the long run.
AI is a more practical solution in terms of the losses you could potentially incur, simply because such systems are well-equipped to identify and negate cyber threats. Around 61% of businesses already state that they absolutely cannot do without AI solutions when identifying breach attacks. In the coming years, more companies will allocate funds in their budget toward integrating AI.
Lack Of Adequate Training In Cybersecurity Protocols
Experts studying how data breaches occur have identified the biggest setback for cybersecurity measures—human employees! Statistics show that 91% of hacking incidents are successful because of phishing. Cybercriminals and email scammers are able to break through even the most robust digital defences using tools like social engineering.
Companies unwittingly provide permission to third-party contractors to use their accounts. Passwords and authentication find their way into the wrong hands long after the contractors and vendors have completed tasks for the company. Breaches occur months afterwards and businesses find it hard to identify the entry point.
How to deal with the problem? Make sure to institute a company culture where following cybersecurity protocols is an iron-clad rule. Train employees care about the dangers of opening unidentified emails at work or using company-assigned phones and tablets over unsecured Wi-Fi connections. Holding workers accountable for how they use information assigned to them will ensure that the cybersecurity strategies are successful.
Business Owners Need To Stay One Step Ahead of Cybercriminals
Cybercrime is evolving rapidly and data breaches have become more complex. Hackers are capable of using sophisticated techniques to create malicious code and find application backdoors to access your systems. Up until a few years ago, cybersecurity measures were layered over operating applications.
At present times, business owners must look into leveraging cutting-edge solutions to secure their company with a special focus on speedy detection and response times. Examine the defences you have in place by hiring white hat ethical hackers who are trained in identifying holes in the security framework and advise you best on repairing them. Secure your business by avoiding these key reasons why cybersecurity measures fail.