The term cybersecurity evokes a futuristic society filled with neon, cool clothes, and lasers. However, cybersecurity encapsulates a growing problem for most modern businesses. A study last year by the FTC found cyber fraud alone cost $13.44 million in 2020. Companies should be aware of these important cybersecurity threats to avoid losing a lot of money.
The easiest way for someone to gain access to your systems is by tricking your employees. Phishing emails, scam emails that ask employees for passwords or other sensitive information, evolve in complexity every year. These emails can look like legitimate requests. A 2020 Study by Cybnit found that human error causes 95% of cybersecurity threats.
Even less elaborate schemes present a severe security threat. In 2016, a study conducted by Google, the University of Illinois Urbana-Champaign, and the University of Michigan found that 48 percent of people plug into their computers USB drives they found in the parking lot.
The COVID-19 pandemic saw a rise in people working from home. More people working outside the office meant a drastic increase in Remote Access Solutions so that people could log in to work systems remotely. These Remote Access points present less secure connections compared to office systems. Plus, home systems are unlikely to be up to date with the latest system updates, which poses an issue.
The increase of COVID remote access meant a 50% rise in ransomware attacks, according to Check Point Research. Ransomware attacks, harmful software that encrypts or blocks system access, causing massive business disruptions. The rise of ransomware can be attributed to people opening suspicious emails and inadvertently allowing ransomware access to the system.
A password is often the only thing standing between you and compromised data. However, if employees share passwords or passwords are weak, that will not protect your data.
Addressing these issues can be accomplished through employee training and security mandates. Teach employees to recognize a phishing email or an attempted ransomware attack. Cover what your organization's security measures are so the employee knows what to do in the event of a cybersecurity attack.
Consider mandating security measures like multi-factor authentication, encryption, and antivirus programs. Multi-factor authentication requires an additional code, either texted or emailed to the employee, to log in. The extra code prevents stolen office laptops or desktops from accessing all systems instantly.