According to new research by Risked Based Security, data breaches are increasing. Their recent report found that an average of more than 20 breaches have been reported per day during the first half of 2019.
Falling victim to a data breach can be a nightmare for businesses. Just recently, Capital One fell victim to a data breach that exposed the information of 100 million Americans and 6 million Canadians. They’re now facing a $600 million lawsuit here in Canada.
To protect your organization, understanding the common cybersecurity problems that lead to breaches can help defend your organization against them.
5 Current Cybersecurity Problems That Lead to Data Breaches
1. Attacks are advancing: The threat landscape is constantly evolving as hackers are always coming up with new ways to steal data and breach organizations. These hackers are well trained and have their own communities on the dark web where they share tips and sell data and credentials. People can easily purchase tools like ransomware-as-a-service and DIY phishing kits, enabling anyone to engage in malicious attacks and increasing the amount of threats an organization may face. Organizations need to make sure they’re employing the latest security technologies to help combat cyber attacks.
2. Misconfigured or improper installations of security tools: Implementing security technologies like firewalls or cloud backup is a great way to protect your networks. However, if they are not installed or configured properly, they won’t be able to work as intended and will be vulnerable to being breached. For example, in the recent Capital One breach, a malicious actor managed to exploit a configuration vulnerability in the company’s systems and steal the customer data. Organizations need to make sure that when they are implementing new technologies, or engaging in other IT projects like moving to the cloud, that they’re working with certified experts.
3. Human error: Human error is a common reason for data breaches and many companies feel vulnerable. Nearly 80% of organizations say they’re worried about insider threats according to research from Barracuda. Although actions due to human error (such as accidentally clicking a phishing link) occur without malicious intentions, they still manage to cause serious damage. Fortunately, human error can be prevented with cyber awareness training. It’s important to inform employees of the common cyber threats they encounter daily so that they can be more vigilant while at work.
4. Lack of security assessments: A security risk assessment is used to analyze and identify security defects and vulnerabilities within an organization’s IT environment. Its purpose is to help organizations understand their security risks so that they can take the necessary steps to fix any weaknesses. Security assessments also help organizations determine their return on investment for their security tools and solutions by determining if they are helping to close security gaps. By not doing a security assessment, organizations are leaving their IT environments open to potential vulnerabilities. Having a clear view of an organization’s security posture allows organizations to focus on where they should be putting their security efforts and helps them determine if they’re on the right track. Since the threat landscape is always changing, security assessments should be done at least once a year or whenever there’s a major change in the IT environment.
5. Lack of adequate security staff: Not all organizations have the capabilities to hire security staff that can monitor security alerts and deal with IT issues. Cyber criminals take advantage of this and target small and medium businesses, leaving SMBs vulnerable to cyber attacks. In some cases, non-IT staff might be burdened to share the responsibility of security. This can lead security events to slip past organizations as they might not always be focusing on security. Furthermore, the cybersecurity skills gap makes it harder for organizations to hire adequate security staff. Organizations who are unable to have their own security staff should consider partnering with a managed services provider to take care of their security and IT issues. That way, organizations can feel confident knowing experts are taking care of their infrastructure and can focus on their own business. For more information on how Jolera can help your organization, contact us today.