Cyberattackers are continuing to put pressure on businesses, staying ahead of the curve with strong and automated systems while organisations struggle with the overload in urgent security tasks, regardless of their size or sector. Having vulnerabilities in your organisation’s security infrastructure can pose a risk to your current and future financial position, among other serious repercussions.
As organisations move inexorably towards a more digital way of working, integrating cybersecurity measures is essential. To implement the right security solution for your organisation, it’s critical to be aware of the potential security risks. Then, you can build an action plan that will strengthen your company’s defences.
At Konica Minolta, we’ve identified five key risks that your business could be facing when it comes to cybersecurity:
1. Not understanding common areas of security risks
It’s important for organisations to understand not only what areas are vulnerable to attack but also the value of assets to protect. This lets you determine where to allocate your resources: it’s best to focus on protecting the most valuable data which is at the highest risk of attack, rather than focus on trying to protect everything all at once.
There are four common threat vectors to be aware of:
cyber threats
data leaks
exploits against customers
phishing attacks.
2. Not having a policy that everyone understands and abides by
Sophisticated cybercriminals are targeting all types of organisations. The latest data indicates cyberattacks on businesses are becoming more frequent and costing companies more1. Simply having cybersecurity tools in place isn’t enough; the proliferation of attacks based on social engineering means that people are the weakest link.
This means organisations must prioritise creating cybersecurity policies and ensure employees understand and comply with them to optimise their effect. As part of this, organisations should provide cybersecurity training to all staff. This should cover cybersecurity basics, types of risks, how to minimise risk, and what to do if they suspect an attack. The more educated and informed staff members are, the greater their contribution to security can be.
3. Allowing external devices without limit
Starting with the bring your own device (BYOD) trend years ago, and now with more people working remotely on their own devices, organisations have less control over the devices connecting to their network or accessing their data. This poses a considerable risk, since employee-owned devices may not have adequate security installed.
If organisations opt to allow external devices, there are security policies that can be put in place such as password protection. It’s also valuable to implement tools that provide visibility into the devices accessing the network and tools that can automatically detect and remediate security issues posed by those devices. Segmenting the network and setting up automated rules for external devices can also improve security.
4. Not covering the basics
Most cyberattacks target fewer than a dozen common system vulnerabilities. Hackers do not need to look for more because, in general, security is not up to scratch. This is disappointing considering most system vulnerabilities are easily fixed. Simply patching and updating systems is a good first step. Deploying layered security solutions and keeping them updated is also valuable. Companies should not rely solely on antivirus programs and can exponentially increase protection by adding data encryption.
5. Absence of a recovery plan
In conjunction with adequate security prevention, preparing a formal response plan to security attack incidents helps minimise any potential damage. A security solution is in place so threats can be detected in the early stages, then isolated and managed more effectively. However, if something is missed, a recovery plan is vital in providing backup to reduce response times and resuming business activities sooner.
It's important for organisations to understand the different types of risks they could be exposed to so they can have the adequate security solutions in place. An awareness of the common threat areas, preparing remote working policies, creating a recovery plan, and investing in a strong cybersecurity solution are useful ways to protect an organisation from cyberattackers.
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