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Thought Leaders: The Reality of our Cybersecurity Threat Landscape

Cybercriminals are constantly changing the way they deliver attacks on networks to take advantage of employees’ trust and compromise or steal data. We’re also seeing more instances where global conflicts play a role in the volume and direction of cyber threats. Smaller businesses may think they aren’t a target, but that couldn’t be further from the truth. In fact, small businesses with 100 employees or less face the same risk of attack as 20,000-employee enterprises. No matter the size, businesses need to enhance their IT security posture to protect themselves as threats spread and become more elegant, complicated, and targeted.

Some challenges that businesses face today are:

  • Not understanding their current security risks and maintaining a false sense of security by believing they are “too small” or their “data isn’t that important”
  • Not being able to see the suspicious activity that is already happening on their network
  • Having a limited ability to react and respond to threats
  • Being underprepared and not having the necessary tools or processes to address breaches or actual attacks
  • Being uninsured or under-insured from a cyber liability perspective and not knowing how or why insurance is an important component of enhancing IT security posture
  • Their employees don’t have the skill set or understand how to practice caution and awareness
  • Security breaches compromise the reputation and financial stability of an organization

Some statistics that align with those challenges are:

  • 71% of attacks are aimed at small to mid-sized businesses
  • 67% of businesses have experienced or are experiencing a breach
  • 56% of breaches take months or longer to discover
  • 63% of businesses go out of business after they experience a data breach
  • 92% of all data breaches are caused by employee mistakes

To keep up with growing cybersecurity threats, businesses need to adopt more innovative and proactive methods of protection. It is increasingly important to layer security throughout your network… there isn’t a silver bullet. Implementing enhanced firewalling practices, using multi-factor authentication, installing next-generation antivirus, leveraging security awareness training, and enforcing password management tools and mobile device security are a few specific examples of how businesses can build cybersecurity resiliency.

It is also critical that businesses understand their specific, current business risks and compliance requirements related to cybersecurity so that plans can be generated to strengthen security posture. Implementing better tools, technology, training, and policy is critical to help protect a business from increasing threats and provide you a chance to recover should the business experience a breach.

If you need help assessing your cybersecurity risk or want help improving your overall IT security strategy, call Connecting Point and we can help keep your business ready for anything.


 

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