Here are a few common mistakes and how you can help to prevent them in the future.
Review and update cyber security policies at work
A prevalent mistake among employees is neglecting or disregarding cyber security policies. Surprisingly, many perceive these policies as irrelevant to their specific job roles, often due to a lack of understanding regarding their practical application in daily tasks. According to recent studies conducted by the Ponemon Institute and IBM Security, up to 60% of data breaches stem from insider threats, underscoring the significance of addressing this issue.
To combat this, it’s imperative for businesses to conduct regular cyber security training sessions, establishing clear points of contact for guidance and support. Furthermore, maintaining up-to-date cyber security policies, aligned with current best practices and the principles of ‘zero trust security’ architecture, is essential in fostering a culture of security awareness and vigilance within the organisation.
Source: Statista Market Insights, National Cyber Security Organisations, FBI, IMF
Use strong and different passwords, along with multi-factor authentication (MFA).
Underestimating the significance of robust passwords poses a considerable risk to safeguarding sensitive information. Shockingly, Verizon reported a staggering 81% of hacking-related breaches are due to weak or stolen passwords. Additionally, the common practice of using the same password across multiple accounts leaves individuals vulnerable, with 39% admitting to this risky behaviour in a survey by Security Magazine. Moreover, relying solely on passwords without implementing multi-factor authentication (MFA) further compounds these risks.
It’s crucial to educate employees about the importance of strong, unique passwords or the use of password managers, as they can significantly enhance overall security. Taking it a step further, encouraging the adoption of MFA, especially for sensitive and financial accounts, is imperative for bolstering cybersecurity defences and preventing unauthorised access.
Adapt cyber security measures for remote working
Overlooking the need for tailored cyber security measures in remote work scenarios can leave businesses vulnerable to a myriad of threats. With the rapid shift to remote work, cyber criminals have capitalised on this trend, with the VMWare Carbon Black reporting a 148% increase in ransomware attacks targeting remote workers since COVID-19 forced us all to adapt to home-working. Additionally, the lack of stringent security controls in remote work setups at that time often resulted in data breaches, with 70% of organisations experiencing security incidents due to remote work during the COVID-19 pandemic in the IBM Security “Cost of Data Breaches Report from 2020.
To mitigate these risks, conducting regular audits of network security controls is essential across all endpoints, not just those in the office. Businesses must assess and implement specific cyber security measures tailored to address the unique challenges posed by remote work environments. This proactive approach can help fortify network security defences and protect against potential cyber threats effectively, saving your business countless hours and thousands of pounds.
Prepare for Cyber Security Incidents
Inadequate preparation for cyber attacks and cyber security incidents is a common mistake that can have severe consequences. Cybersecurity Ventures reported that 43% of cyber attacks target small businesses, and 60% of small companies go out of business within six months of a cyber attack. Hopefully you will never have to use it, but having that safety net there could mean the difference between survival and liquidation.
On top of conducting regular IT security audits, developing comprehensive incident response plans and fostering open communication about security incidents are essential steps in preparedness, while ensuring reliable data backups are in place is critical for mitigating the impact and cost of compromises. By implementing these proactive measures, businesses can better protect themselves against the devastating effects of cyber attacks and security breaches.
Improve awareness of emerging cyber security threats and best practices
Often, one of the major causes for a cyber attack is due to a general lack of awareness about common threats, particularly phishing, as well as best practices for reducing these cyber-related risks. Alarmingly, phishing attacks are responsible for 32% of data breaches as per the Verizon DBIR, which is an end-point attack where criminals may pose as other companies that you work with, delivery companies, or even members from within your own business.
At BCS, we have been fostering a cultural shift towards cyber security as absolutely essential for small and medium businesses, not just large corporations, and we strongly recommend this for your business as well. Regular training sessions can educate employees on the importance of IT security practices, while encouraging them to do their own research and learning into the topic can help to keep these threats at bay. Also, establishing a clear point of contact or reporting procedure for cyber security incidents is crucial for prompt response and resolution, helping to minimise downtime and keep your operations running.
Source: Cybersecurity Threats Fast-Forward 2030: Fasten your Security-Belt Before the Ride! | enisa: EU Agency for Cybersecurity
Summing Up
In the realm of cybersecurity, proactive measures are essential. From strong passwords to employee training, every step counts in fortifying defences against cyber threats. By staying informed and implementing BCS recommended practices, your business can boost its resilience and minimise risks in the evolving world of cyber crime.
Remember, prevention and preparedness is paramount in the digital world.
If your staff are lacking in knowledge about cybersecurity then check out our Cyber Security Training and Managed Cyber Security pages to give them a kickstart in protecting your business.
Keep your business safe with BCS
Here at BCS, our dedicated Security & Compliance team are on hand 24/7 to help you with all of your Cyber Security questions – including how to create a strong password.
In fact, we offer a whole host of Managed IT Services from Cloud Computing to Internet Phone Systems. If you’re ready to grow your Kent business, we’re only a call away on 01843 572600. Alternatively, you can get in touch below!