Even with the growing awareness about cybersecurity, many myths about it are prevalent. These misconceptions can be a barrier to effective security.
The first step to ensure the security of your business is to separate the false information, myths, and rumors from the truth.
Here, we're busting some common cybersecurity myths. Read on to find out which of the following you thought were true.
Cybersecurity Myths vs. Truths
Myth #1 — Too much security diminishes productivity
There is a common idea that increased security makes it difficult for even employees to access what they need, not just hackers. Strict security policies such as regular monitoring and access control are believed to hinder productivity at work. However, doing away with security may have far-reaching consequences for your business. A successful attack like a DDoS attackor ransomware can bring your business to a standstill. Employees might not be able to access important files, networks, and information after an attack. The recovery takes days and sometimes even weeks.
Truth: Enhanced cybersecurity can boost productivity.
A modern cybersecurity approach uses security tools that have a built-in security feature that integrates seamlessly into your system. It also leverages advanced tech intelligence and analytics for real-time detection and mitigation of threats. This allows developers to concentrate on improving their productivity since they no longer need to worry about security issues.
Myth #2 — Cyberattacks are only caused by external threat actors
Insider threats are on the rise and are fast becoming a cause of concern for businesses. Insider threats can include employees, vendors, contractors, business partners, or an external intruder trying to impersonate an employee. A recent survey revealed that insider threats are responsible for 60% of data breaches.
In addition, you can never be fully aware of where these attacks can originate from, and traditional security solutions are largely ineffective when it comes to these threats. This makes them much harder to detect and contain than external threats.
Truth: Therefore, cyberattacks can very well start from someone you know.
Use a combination of behavioral analytics and privilege and access management to minimize insider threats. Additionally, conduct security awareness training sessions to educate employees about the dangers of insider threats and how to detect them.
Myth #3 — Cybercriminals only attack large businesses
Small and medium-sized businesses may often be under the false impression that their data isn't valuable to hackers. However, small and medium-sized businesses are one of the top targets for hackers.
A recent study revealed that hackers targeted small businesses nearly half of the time. But only 14% of these businesses were prepared to defend themselves in such a situation.
Truth: No business - no matter how large or small, is ever immune to hacking attempts and malicious attacks.
Hackers don't discriminate when it comes to their victims. So, don't let the size of your business, determine how valuable your data is or how secure your assets are.
Myth #4 — Anti-Virus or Anti-Malware Software is enough to secure my business
The anti-virus software is an essential part of your cybersecurity plan. However, it only secures one entry point into your system. Hackers have many ways to bypass anti-virus software and infiltrate networks with attacks such as targeted phishing attacks, and ransomware.
So, even with anti-malware software in place, hackers will have plenty of room to launch an attack.
Truth: Anti-virus software can only protect you from a unique set of recognized cyber threats, not from other emerging cyber threats.
As a business, you need to do much more to secure your data from hackers. Deploy an all-encompassing security solution like a Web Application Firewall that monitors threats continuously and provides end-to-end, 24*7 protection from cyber risks.
Myth #5 — Cybersecurity is too expensive
Even as malicious cyberattacks continue to make headlines and cost businesses millions, companies still wonder if cybersecurity investments are worth it. Data security is frequently overlooked and is only an afterthought for many enterprises. The average cost of a data breach in 2021 is $4.24 million, the highest in the last 17 years. And this figure does not include the damage that comes with the crippling reputational losses and customer losses from a breach.
Truth: The cost of a good cybersecurity solution is nothing compared to the cost of a successful attack.
Invest in a modern security solution like Indusface AppTrana, for example, that can protect you from the latest threats. Moreover, there are many precautionary measures that you can take with absolutely no additional cost to your business, such as strong passwords, multi-factor authentication, access management, and employee training.
Myth #6 — You don't require cybersecurity because you've never been attacked
If you've never experienced a cyberattack or data breach yourself, the chances are that you don't know just how much damage they can cause. You may also assume that your current security posture is strong enough to keep the bad actors away since you've never been attacked.
However, cyber threats and hacking tools are continuously evolving to become more and more sophisticated and undetectable each day. And any sensitive data is a potential target for a breach.
Truth: You could easily be the next target.
Develop a sound security strategy that helps you identify existing weaknesses and mitigate attack attempts before any significant damage is caused.
Myth #7 — You've achieved total cybersecurity
Cybersecurity is a continuous process that needs to be upgraded with the changes in the threat landscape. Therefore, never stop working on securing your IT assets. Your organization will always be susceptible to existing and emerging threats.
Truth: There is no such thing as total or perfect cybersecurity against cyberattacks.
Review your security policies periodically, conduct security audits, monitor your critical assets continuously, and invest in the upcoming updates in security measures.
Myths and negative ideas around cybersecurity pose a real threat to organizations that are exposed to various cyber threats each day. Misinformation can open even more opportunities for hackers to infiltrate your network. Stay informed on the latest security best practices to ensure the safety of your business and customers.