Top 5 Cybersecurity Mistakes That Leave Your Data at Risk

Cybercrime is a major expense for businesses. On average, cybercriminals steal about $11 million every minute, which adds up to nearly $190,000 each second.

Sadly, 60% of small and mid-sized companies that suffer a cyberattack close within six months. The costs can include lost business, lower productivity, and payments to customers who were affected.

Cybersecurity is more than just installing anti-malware software or upgrading your firewall. Many serious breaches happen because of simple mistakes, like clicking a harmful email link or giving access to sensitive data without checking who is asking.

The 2021 Sophos Threat Report, which reviewed thousands of global data breaches, found that 'everyday threats' are some of the most dangerous. The report notes that many damaging attacks happen because of weak or poorly set up security, so staying alert is important.

If you do not pay enough attention to your company’s cybersecurity, you could make mistakes that leave your business open to hackers, identity thieves, or ransomware.

Here are some common mistakes businesses make with basic IT security.

Not Using Multi-Factor Authentication (MFA)

The top cause of data breaches is no longer a question that executives have been asking themselves for years. It’s Credential theft and it happens more often than you think, with most company processes now being cloud-based!

If companies do not protect user logins with multi-factor authentication, they are at a much higher risk of a breach.

Multi-factor authentication can reduce fraudulent sign-in attempts by 99.9%.

Ignoring the Use of Shadow IT

Shadow IT means employees use cloud applications for business data without approval, and these apps may not even be part of the company’s official systems.

Shadow IT use leaves companies at risk for several reasons:

1. Data might be stored in an unsecured application

2. Data may not be included in company backup plans

3. If an employee leaves, important data could be lost

4. The app in use might not meet company compliance requirements

Many employees use apps to fill gaps that the company’s IT team has not addressed. This can be risky if management does not review these apps, because some that seem harmless can actually be dangerous.

Having clear policies in place will help you avoid any potential problems with your employees using the cloud. For example, they should be informed about which applications are allowed and not allowed for work-related purposes so there aren’t surprises down the road!

Relying Only on Antivirus Software

Although antivirus applications are useful for scanning files and folders, they cannot protect you from every type of threat. Some online criminals don’t use malicious software at all – instead poisoning websites or spamming people’s inboxes with links that redirect them to malware-infected sites just so it can get installed onto your computer without permission!.

Malicious emails that try to steal your information often look like they come from trusted sources, such as PayPal or Amazon. These emails may have links that seem safe, but it is important to check them. Malicious sites can trick people into giving away sensitive data when downloading software updates.

A strong security strategy should have several layers, such as:

1. Next-generation anti-malware (uses AI and machine learning)

2. Next-generation firewall

3. Email filtering

4. DNS filtering

5. Automated application and cloud security policies

6. Cloud access monitoring

Lack of Device Management

Many companies now have remote employees and plan to keep this setup. However, managing devices used at home and smartphones is not always easy, and this can lead to problems like data loss or identity theft.

If you are not managing security or data access for all your business devices, you should create a plan as soon as possible.

If you do not already have one, now is a good time to set up a device management application, such as Intune in Microsoft 365.

Not Training Employees Enough

Human error is responsible for at least 95% of cybersecurity breaches. Many companies do not provide ongoing training, so employees do not develop the habits needed for strong security.

Keeping employees aware of IT security helps them spot phishing attacks and follow proper data handling procedures. Training should happen throughout the year, not just once a year or during onboarding.

Here are some ways to make cybersecurity training part of your company culture:

1. Short training videos

2. IT security posters

3. Webinars

4. Team training sessions

5. Cybersecurity tips in company newsletters

When Was Your Last Cybersecurity Checkup?

Do not let your IT security vulnerabilities go unnoticed. Schedule a cybersecurity audit with Ayvant IT Services to find and fix weaknesses and lower your risk.