In late 2019, 10% of small businesses that fell victim to cybercrime didn’t survive. Recently, a study published by ConnectWise revealed that 86% of small- and medium-sized businesses (SMBs) are prioritizing cybersecurity. But what about the remaining 14%?
If you believe in any of the cybersecurity myths below, your business in Missouri may very well be among the 14% of US companies that are not taking cyberthreats as seriously as they should. For the sake of your business and everyone who relies on it, stop believing these myths:
My company’s data is not worth protecting
As with any type of relationship, business relationships are built on trust. Customers trust you with their personal information so that you can serve them better. Your business partner trusts you with access credentials to their systems to make work flow across all involved parties as smoothly as possible.
If private customer information suddenly becomes publicly available because of a data breach, consider yourself lucky if they just leave you without filing a lawsuit. And if the access credentials you were given happened to fall into cybercriminals’ hands, then those criminals could wreak havoc on your partner’s IT infrastructure. The resulting damage to your reputation will make it difficult for you to find new partners to work with.
In short, businesses need to be trustworthy, which means that you must value company data enough to protect it.
Further reading: 7 Ways to make your data more secure in a mobile-first world
It’s good practice to regularly change passwords
If compromised passwords are the main cause of data breaches, then making passwords valid for only a limited amount of time must surely reduce the risk of data breaches, right? On the contrary, it does just the opposite.
People find changing passwords to be tedious, so they’ll find ways to make the task easier. If they can reuse a password from six months ago, they will. And if just inputting the current month into the passcode string is enough to make a password unique, they’ll do that, too. Ironically, this introduces predictability, which means that even though a cracked password may no longer be valid, subsequent passwords will not be that difficult to guess.
Further reading: Top 4 password mistakes and how to avoid them
Phishing scams are laughably easy to spot
Gone are the days of fake Nigerian princes sending email scams that are riddled with spelling and grammar errors. Nowadays, AI-powered writing tools enable scammers to write impeccably, with some having the sophistication to use terminology that make their emails sound like they were really meant for you to read.
They’ll pretend to be your boss, your business partner, your bank, a government agency — any party you either trust or grant authority to. They’ll do this to get you to open their email and click on their malicious links or download their malware-laced attachments. Everyone from the rank and file to the C-suite can be fooled, so your entire team must be trained on how to spot phishing attacks and other vital cybersecurity skills.
Further reading: Here’s why Kansas City businesses need AI-powered cybersecurity
My antivirus software is enough
Kevlar vests used to be completely bulletproof, until armor-piercing bullets came along. In a similar fashion, it’s still good to have antivirus software, but it’s no longer enough to have just that.
Antivirus programs and perimeter-based defenses like firewalls detect cyberthreats by their signatures, so if a particular malware’s signature is yet unknown, that malware can infiltrate your network undetected.
Moreover, not all threats come from outside your organization. Corporate spies and staff with a bone to pick with their managers may work from the inside to steal data or compromise your IT systems. The point is, you need comprehensive cybersecurity solutions that keep pace with cyberthreats and protect you from the inside out.
Businesses in Missouri rely on Umbrella for complete cybersecurity services. To understand the measures we’ll take to protect your company from every angle, download our eBook today.