The global damage of cybercrime has risen to an average of $11 million USD per minute, which is a cost of $190,000 each second. 60% of small and mid-sized companies that have a data breach end up closing their doors within six months because they can’t afford the costs.
The costs of falling victim to a cyberattack can include loss of business, downtime/productivity losses, reparation costs for customers that have had data stolen, and more. Many of the most damaging breaches are due to common cybersecurity mistakes that companies and their employees make.
Here are several of the most common missteps when it comes to basic IT security best practices.
Credential theft has become the top cause of data breaches around the world, according to IBM Security. MFA reduces fraudulent sign-in attempts by a staggering 99.9%.
Shadow IT is the use of cloud applications by employees for business data that haven’t been approved and may not even be known about by a company.
Shadow IT use leaves companies at risk for several reasons:
It’s important to have cloud use policies in place that spell out for employees the applications that can and cannot be used for work.
No matter how small your business is, a simple antivirus application is not enough to keep you protected. In fact, many of today’s threats don’t use a malicious file at all.
Phishing emails will contain commands sent to legitimate PC systems that aren’t flagged as a virus or malware. Phishing also overwhelmingly uses links these days rather than file attachments to send users to malicious sites. Those links won’t get caught by simple antivirus solutions.
You need to have a multi-layered strategy in place that includes things like:
The majority of companies around the world have had employees working remotely from home since the pandemic. However, device management for those remote employee devices, as well as smartphones used for business, hasn’t always been put in place.
Putting a device management application in place, like Intune from Microsoft 365 can help manage this.
An astonishing 95% of cybersecurity breaches are caused by human error.
Employee IT security awareness training should be done throughout the year, not just annually or during an onboarding process.
Some ways to infuse cybersecurity training into your company culture include:
If there are two things we feel we’re experts in, it’s Microsoft and Practices. With over three decades of experience in the dental sector, we understand what makes a successful practice and how our expertise and knowledge can help you deliver your IT strategy. So get in touch today for specialised support on how you can migrate your operating systems.
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