Cybersecurity is not optional. Every organization needs cybersecurity regardless of size, industry or location.
More companies are going digital, which means information security isn’t an option. It’s imperative for growth and survival.
The 2022 Cost of a Data Breach report found that a data breach cost a U.S. company an average of $9.44 million last year. Hijacked credentials were the most common cause of a data breach. This attack method took the longest to identify, 327 days on average, and costs the victim $150,000 more than the average data breach cost.
So what can you do to strengthen your company’s cybersecurity posture to avoid these huge costs? A vital first step is to ensure you are looking after the cybersecurity basics.
Take Care of the Cybersecurity Basics
- Train your employees. Cybersecurity training for employees is a must. Human error is the cause of 95% of all cybersecurity issues, according to the World Economic Forum’s annual Global Risks Report 2022. Security awareness training helps employees understand vulnerabilities and threats. Your employees must know their responsibilities when they use business computers.
- Implement multifactor authentication/strong password policies. If you haven’t already, you should enforce multifactor authentication and strong password requirements. Employees will make better decisions if these standards are required.
- Ensure systems are up to date. You should update your security software, web server and operating system, and make sure you patch your systems regularly. Your anti-virus software should be up to date for all your devices and your network to stay protected from the latest cyber threats.
- Back up your data. Data backups are more important than ever. Cyberthieves usually go after data, so you need to back it up regularly and store it safely.
- Secure your Wi-Fi network. You should ensure your office Wi-Fi network is secure and encrypted. In addition, your remote employees should be given the tools they need to keep their data safe. Wi-Fi networks in public places aren’t secure, so they should avoid them.
Leverage Technology
Many technology innovations and cybersecurity applications overlap and work together. Data security is improving thanks to blockchain algorithms, artificial intelligence (AI) and machine learning.
Your company is already using these technologies in day-to-day operations, whether for processing transactions or gathering and analyzing data. But you can also leverage them to protect those activities and your systems.
A deep learning algorithm, for example, can run financial models, predict trends and analyze data, but it can also spot suspicious network activity or payment transactions. Blockchains also use AI to automate governance and other important operations to prevent bad actors from controlling your network.
Looking to ensure your organization’s cybersecurity requirements are met? MBL Technologies can help. We offer a wide array of cybersecurity services to help you identify weaknesses in your security posture and implement cost-effective, targeted solutions. Contact us today to get started.
