In the digital age, the value of data cannot be stressed enough. From personal information to confidential business data, a breach of cybersecurity can lead to disastrous consequences. As businesses move towards a more digital-centric future, it’s essential to identify areas of vulnerability to protect your company from potential cyber-attacks. Here, we will discuss the common cybersecurity blind spots that businesses face today, and how you can protect yourself and your business.
Unsecured Mobile Devices
Mobile devices such as smartphones and tablets are an essential tool for businesses today. However, they also present a significant cybersecurity risk. Many employees may not adequately secure their devices, leaving them vulnerable to cyber threats.
Employees who disregard security recommendations while working remotely further complicates the situation. Hackers may gain access to sensitive company data through an unsecured mobile device. As such, it’s crucial for businesses to train their employees on the importance of cybersecurity and ensure that all mobile devices used are secured with strong passwords and encrypted.
Outdated Software
Operating systems and software that are not regularly updated are a major vulnerability. These outdated systems are targeted for hackers to exploit by discovering vulnerabilities within them. Business owners should ensure that all software applications used, including operating systems and anti-virus software, are kept up to date. Moreover, managed IT services can be hired to stay up-to-date regularly.
Unsecured Wi-Fi Networks
Public Wi-Fi networks are convenient places to check emails and access web applications on the go. Employees accessing these networks on unsecured Wi-Fi networks can make themselves and their employers vulnerable to cyber threats.
Hackers can intercept data transmitted from the device to the Wi-Fi network, compromising sensitive company information. Businesses should instruct their employees to avoid using public Wi-Fi networks at all costs. If necessary, they should connect through a Virtual Private Network (VPN) to encrypt the data transmitted.
Lack of a Back-up
Statistics show that nearly half of all companies that suffered from data loss didn’t have data backups. Backing up data should be a priority for businesses of any size. Regularly backing up all company data is critical in case of a cyber-attack. This is because there is a chance that ransomware may access your network and encrypt crucial data.
In such scenarios, it is only possible to restore your data only when you have a backed-up copy. We recommend that companies back up data to an external hard drive or cloud-based server, enabling business continuity in case of loss.
Insider Threats
Insider threats are one of the most significant threats to cybersecurity. An internal member of staff can cause irreparable damage, whether intentionally or unintentionally. Ensuring that your employees are well informed about cybersecurity threats is the first step, but businesses also need to enforce strict access controls and monitoring regimes.
Access permissions should be reflective of role responsibilities, and all systems should be monitored regularly for unusual activities.
Failing to Have Insurance to Cover a Breach
While a cybersecurity liability insurance policy may not prevent a data breach, it can insulate a company from the fallout of one.
Despite preventative measures and the utmost care, dedicated hackers may still find a way to break into your company’s systems. A cyber liability insurance policy can provide your company with the financial resources it needs to deal with the aftermath of such a breach.
If you want to add a cybersecurity liability insurance policy to your company’s defense regime, contact Insurance Specialists, Inc. today.