Estimated reading time: 3 mins
The rise in cases of ransomware attacks has taken the world by surprise, whereby companies lose their data by having it hacked and illegally encrypted by cybercriminals. Such hackers tend to demand some ransom in return for the data. In 2017 alone, these cyber-attacks resulted in damages worth more than $17 billion globally, with a good number of the companies that paid the requested ransom actually not regaining control of their data.
Ransomware is only but a tip of the iceberg that is cybersecurity threats. Crimes such as sending viruses, Trojan horses or phishing emails are still rife in the business world with most companies having to deal with tremendous losses. The light at the end of the tunnel for businesses that tend to face these losses is that they can be avoided, but most companies might have loopholes in their security practices that they fail to identify.
Here are some few reasons why you might be putting your company’s data security at risk:
You Have Underinvested
While all companies understand the undeniable need to invest in security systems, some only invest in generic systems that aren’t in any way tailored to their needs, which means minimal efficiency. For instance, in case you are looking for a security system to safeguard your Syslogs, working with a system that is specifically directed towards safeguarding you from the most imminent threats is a wise choice, according to the Paper Trail App website: https://papertrailapp.com/free-syslog.
In addition to investing in the security infrastructure, your company also needs to hire people to analyze your security situation. Only when you fully understand the security threats that you face can you come up with viable solutions. While you might use excuses like the security systems might be too expensive or you lack the resources, the alternative of facing cyber threats and the resulting loss is much more expensive. The solution is to sink money into the right infrastructure to sustain your business in the dynamic cybersecurity scene.
The Unreadiness of Your Human Resource Team
Corporate security is not a one-person job, but rather an organizational-wide venture, according to a Huffington Post article. To achieve optimal security, you need to have all hands on deck from the managerial office to the lowest ranked employee. This means that there should be no recycling passwords, opening phishing emails or even using unsecured Wi-Fi networks to access work-related content.
This lack of unity in having a corporate security culture can either spawn from ignorant and complacent employees or inadequate training by the human resource. For the latter, the onus is on the human resource department to organize security training for the employees. On the other hand, stringent policies should be set to deal with employees who turn a blind eye to your security procedures as it only takes a single loophole to find yourself in a cybersecurity crisis.
Bad Threat Intelligence
Although you ought to protect your business from the current trending threat, it doesn’t mean that the threats will affect you. Your threat intelligence department has to identify the current threats and determine whether your business is prone to them, as noted by State Tech Magazine. As a result, a department that only concentrates on the current threats is underperforming.
Your priority focus should be on determining the exact threat level that you face, be it malware, password attacks or even social engineering. The trick is to identify a way to draw the line between current security threats and the ones that can potentially affect you. Ask your threat intelligence department to conduct deep research on the issue to avoid future regrets.
You Spread Your Focus on Many Projects
In some cases, you might be looking into beefing up your security by running multiple projects simultaneously. However, such projects tend to eat a lot into your budget and resources. The chances are that one or two projects would suffice to protect your data optimally. In the case above, you end up relying on half-baked projects for security. Focus on the key most data security threats and find ways to improve overall enterprise security.
Corporate security ought to be taken seriously. Being proactive in your company’s data security matters is vital to avoiding situations that will comprise your brand reputation and lead to losses. Consider making the suggested adjustments to anticipate any threats.
Check out these similar posts:
- Why Look At Cybersecurity Inside Out
- Using Big Data Analytics in Cyber Security
- Signs Your Business is Stuck in the Past
- Six Clear Ways Artificial Intelligence Will Impact Business
- Protect Your Business: Common Cyber-Security Threats and How to Prevent Them