5 Things Entrepreneurs Get Wrong About Cybersecurity

The world of cybersecurity is ever-evolving and very intricate. Data breaches appear across various industries. Entrepreneurs need to become more responsible when it comes to the security of their company. Unfortunately, there is still a large number of myths surrounding cybersecurity. And sometimes they can have devastating consequences. Here are the five most common misconceptions that entrepreneurs should stop believing in already:

Employees Know Enough Already

When it comes to security, continuous education is imperative. Everyone should know and follow at least the basic practices. An organization may have the best IT department, yet even one phishing email opened by an uneducated employee can lead to a massive data breach.

By teaching your employees how to detect scams and how to protect their devices, you reduce the chances of a cybersecurity incident. So, make sure everyone knows the following:

  • How to spot a phishing email or other scams?
  • How to securely share information online?
  • How to encrypt files or devices?
  • How to create and where to keep passwords?
  • Who to contact in case of a security-related incident?

There’s Bigger Fish to Fry

The “it won’t happen to me” mentality is a serious issue, and it must be stopped. It is especially crucial for small or medium companies that store a considerable amount of sensitive data. They often believe they’re too small to be interesting for cybercriminals. But that’s not true. Hackers realize that smaller companies might have weaker security, and they tend to exploit that.

After all, any business or customer data is a goldmine for hackers. It has an insane value on the dark market.

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Even if an organization hasn’t had any cybersecurity incidents in the past, it doesn’t mean that they won’t fall victim to it. It’s imperative to always stay on top of cybersecurity and to keep up with all the latest trends.

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Things Work Without Being Tested

Let’s say a company has some robust cybersecurity measures in place. But they can’t know that they are all that functional without any testing. Stress testing is among the most effective ways to see whether current security measures work. If there’s anything that could use some improvements, stress testing should bring it to your attention.

The world of cybersecurity is prone to frequent and rapid changes. Testing your infrastructure often ensures that you’re always up to date. Simulated hacking scenarios can test the framework and response time. They also highlight weak areas that you might want to enhance.

Cybersecurity Software is All You Need

Even with the best, most comprehensive security infrastructure in place, you can suffer a data breach thanks to human error. In fact, a report from the Ponemon Institute and IBM have shown that phishing emails and social engineering are to blame for nearly a quarter of all data breaches.

So, go back to the first point in this article. If you don’t set aside time and resources for employee education, you’re risking a data breach. It can negatively impact not only the reputation but also the finances or your company. GDPR and other regulatory bodies are notorious for issuing hefty fines for non-compliance.

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Relying on Endpoint Security is Enough

When it comes to cybersecurity infrastructure, you should never rely only on one form of security measures. Endpoint security is adequate and protects a business from some threats. But it is still not comprehensive enough. Make sure to integrate additional security levels. It is your best bet against hackers and other malicious actors.

A recommended approach to building a defense system includes layered security. For example, the first layer is education — your employees know how to spot suspicious links and downloads. Then comes encryption:

  • employees use a virtual private network (for example this one), to protect data in transit;
  • they have device encryption software, e.g., BitLocker, to safeguard data at rest.

After that, firewalls and other network security measures follow. And it goes on. It neutralizes many attack vectors and ensures that the data of the company is safe.

The Takeaway

The number of threats is increasing, and hackers are becoming more creative with their approaches. To fight that, companies need to take a more serious approach to cybersecurity. For one, they have to invest more resources in employee education. And then, they must ensure that their systems are running smoothly through occasional stress testing.

Besides the tips from the list, companies should also return to basics such as 2FA, strong passwords, encryption, and VPN. Although all those measures can be expensive, the amount is nothing compared to GDPR fines the company might face in case of a breach.

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