But when we take a closer look, we notice that most of the businesses that fall victim to cyberattacks tend to make the same common mistakes.
A lot of factors contribute to bad cybersecurity practices, from human nature to weak system protection. Here are the 3 main reasons why companies get hacked:
1- Failure to change passwords
Poor password habits are often an underlying issue in massive cyberattacks.
This might come in the form of a weak password, an unchanged default system password, using the same password for multiple accounts, or even using the same passwords for company and personal accounts.
If your business uses the same password on multiple devices, access to one, means access to all. And when employees use the same password across multiple company accounts, access to one, again, means access to all.
To maximize protection, it is essential to use complex and unique passwords that are changed regularly.
2- Failure to identify phishing emails
When it comes to security breaches, phishing has been, and continues to be, a major problem for businesses.
With a phishing email, a hacker could do a lot of damage. They might go about it subtly, and trick an employee into revealing their account credentials by posing as one of their coworkers.
Or they might take a bolder approach and install malicious ransomware, literally holding your data hostage, until their demands are met.
The key to preventing these kinds of incidents lies in educating the users interacting with the systems about the potential risks of phishing emails, and training them to identify suspicious content.
3- Failure to recognize infiltration
As detailed above, hackers today have a lot of tricks up their sleeves, from malware, to social engineering, to exploit kits, and more. Which is why it would be foolish for a business to think that it is immune to these risks.
Infiltration is something that should be assumed, and businesses can reduce their exposure to this threat through good network segmentation. Splitting your network into subnetworks can greatly reduce the impact of a potential breach.
Poor network segmentation means that you are leaving your entire company vulnerable. Businesses need to be on constant alert for infiltration and the lateral movements of hackers attempting to access private data.
Incidence response plans and mechanisms need to be put in place to mitigate risks.
Most common mechanisms include:
- Protecting sensitive data by reducing data transfer from internal devices to external devices
- Restricting downloads in order to reduce risks of transferring downloadable media to an external source
- Shredding unnecessary files and folders before formatting
- Periodically checking security controls, allowing the security team to have better control over the network
It is important for companies to nurture a cybersecurity culture within their organizations, and arm themselves with the right tools to respond to these security risks.
One of the tools every company should be using is Myki, which makes it possible to securely share passwords and sensitive data within organizations, and also functions as an authenticator app for two-factor authentication.
Download it now if you still haven't!