The Biggest Security Threats Confronting Businesses
Cyber attacks and security threats are even more rampant these days, especially since so many businesses have gone digital. Businesses, no matter how big or small, should enact measures that protect their data as well as sensitive customer information from security breaches from their system. If you are a small business owner, understanding these forms of security threats will help you come up with ways to protect your business. By knowing about how these security threats occur, you can implement risk mitigation and proper security policies to avoid experiencing them in your own business.
Here are some of the top security threats that you should protect your small business against.
Researchers demonstrate that approximately 50 percent of startups and small businesses suffer from a cyber attack annually. More than 60 percent of these undermined businesses go out of business within the following six months. These numbers show that not implementing extensive cybersecurity measures is no longer advisable. Essentially, businesses need to be prepared to invest in technology and personnel that can strengthen their setup.
A lot of business owners are currently under the assumption that they could not possibly be targets such threats. Because of this, so many companies are more likely to ignore or misunderstand particular types of threats. Targeted cyber attacks, or those attacks on company information that are perpetrated by intrepid teenagers or worldwide organized crime rings, are external risks that can extract information over a longer period of time. As an example, phishing attacks which are complex threats that can lead to a loss of business. Businesses need create measures that would offer their system an improved security against these cyber attacks.
Data breaches that range from deliberate leaks from unsatisfied employees to blunders concerning forgotten laptops are internal risks because the threat originates from inside the organization. Businesses must implement measures that would allow their employees to know more about proper data security policies to ensure that these types of breaches do not happen. Although it is important to fortify internal systems and workforce, experienced security services can also definitely help mitigate risks.
As per a recent study, a considerable number of confirmed security breaches involved taking advantage of weak, stolen, or default passwords. This lends credence to the fact that most businesses these days are still employing single factor authentication. Companies are hesitant to use multi-factor authentication since they are under the impression that this would adversely influence user experience. However, even the average person is increasingly realizing of the dangers of stolen identities and sensitive data. Industry professionals expect that this awareness will influence more organizations to opt for multi-factor authentication processes.