There has been a significant shift in how businesses protect themselves against cyberattacks in the last several years. The security landscape has evolved due to the hybrid working pattern, rapid digitization, and an increase in the number of ransomware events, making responsibilities more challenging than ever for the companies that provide cyber security solutions.

A new perspective is required to defend this dynamic environment, and what may have been true in the past may no longer apply.

Cybersecurity readiness is critical for guaranteeing business continuity in the ever-changing cybersecurity landscape. However, like almost everything else published on the internet, cybersecurity is riddled with misunderstandings. With millions of workers attempting to work from home, it’s critical to debunk the myths and expose the truth. To put some light on why cybersecurity is important.

The 10 Cybersecurity myths enterprises need to stop believing

1. It can’t happen to us because we’re too small.

When it comes to cybersecurity, SMEs may be the weakest link in the supply chain that cybercriminals target. Every company no matter their size has some degree of digital technology that is core to their operations. Data too forms the backbone of an organization big or small and hence a target for cybercriminals. In fact, smaller enterprises have a relatively larger exposure as they face the same threats as their larger counterparts but have less means to implement robust and comprehensive protection. Being proactive about your defense is critical for every organization, regardless of size.

2. IT department is solely responsible for cybersecurity

Cybersecurity today is no longer just an IT problem. It is a business problem. Cyberattacks are on the minds of every CEO and board in the world today. While the primary responsibility may be placed on the shoulders of a CISO, the entire company needs to cooperate in the business of securing the organization and management needs to give priority and allocate resources for this critical function. Without security there is no business. The security mindset needs to be propogated to the entire organization and reinforced through security awareness training and programs.

3. Anti-virus or anti-malware software is sufficient to secure my company.

An organization must establish a complete cybersecurity framework that comprises a layed architecture that touches every device, network, application, data and user identity. While the majority of the attacks are targeted at endpoints, it is not enough to simply protect the endpoint. A typical anti-virus in only about 40% effective. Next generation technologies such as XDR needs to be implemented and 24 x 7 monitoring is essential to detect threats and respond in real time. All this cannot be done without the help of third-party experts and consultants.

4. We have a strict password policy and are thus secure.

Time and again password mismanagement has led to incidents in organizations. Technologies such as Multi-factor authentication, single sign on and Privilege Access Management can greatly reduce vulnerabilities arising from password mismanagement and reduce the administrative headaches associated with password resets.

5. Cyberattacks primarily originate from outside the organization.

The 2020 Insider Threat Report by Cybersecurity Insiders states that 68% of organizations feel moderately to extremely vulnerable to insider attacks. Third parties and outsourced workers may also violate or not follow the cybersecurity policies of the hiring organization. Hackers can breach a third-party vendor with a low level of security to get inside the protected perimeter of an organization. Zero Trust security methodology that promotes “Trust no one, always verify” is essential when implementing security solutions within an organization that will not distinguish between outsider and insider threats. Ongoing security awareness training is essential to sensitize employees to emerging threats, especially more advanced type of phishing attacks. Sophisticated and comprehensive security awareness training tools are available today that can identify users most vulnerable to phishing attacks so training can be more targeted and progress measurable.

6. Our information isn’t important enough to be targeted in a cyberattack.

The attackers determine the value of your data. Systems can be hacked for a variety of reasons, including a coordinated attack on another target. Specialists in cybersecurity can help you assess the risk posed to your organization and offer viable strategies and affordable solutions to close the gaps.

7. Our third-party security supplier will protect us from any threats.

Although cybersecurity services companies may assist you with best cybersecurity practices/policies and technologies, the effectiveness of such policies and solutions is primarily dependent on how they are implemented internally. Security is not a function that can be entirely outsourced. Each organization needs to set its own security roadmap, establish their policies and procedures and direct their cybersecurity program, coordinating internal and external resources as required to achieve their objectives.

8. We have a highly skilled cybersecurity staff. We are completely safe.

Security is a complex problem that requires the harnessing of people, processes and technologies to solve it. 100% security is not achievable. Many organizations with very smart security personnel have had to deal with security breaches. One can never be complacent or depend on any one component such as only people, only technology or only processes to achieve security. It is an ongoing effort of improving the organizations security posture through constant monitoring of the effectiveness of existing people, process and technologies.

9. A password protects a Wi-Fi network.

The passwords can help in limiting the number of people who may access the network but cannot prevent the cybercriminals from accessing the data. On the other hand, users on the network might obtain access to the sensitive data being transferred. Using Virtual Private Networks (VPNs) to safeguard data is recommended.

10. Cybersecurity always necessitates a significant financial outlay.

Cybersecurity often requires significant investment, but it is an insurance premium that is well worth its value. A security breach can cost an organization millions and in some cases billions of dollars. Some organizations may need to shut their doors following a security breach. The investment needs to be proportionate to the risk identified through proper risk assessment exercise.

Conclusion

When it comes to security, it is important to distinguish between facts and myths. Every employee in an organization plays an important role in achieving security within the organization. Security is not achieved by blindly throwing technology at the problem. It involves judicious use of people, process and technology. Threats are getting more sophisticated by the day but so are the solutions. New security solutions are increasingly using AI/ML and behavior analytics to detect threats. Ensuring that your solutions are kept current, your policies and procedures are reviewed regularly and people are sensitized through security awareness trainings is essential to improving your organization’s security posture.

Being one of the leading cybersecurity companies in the UAE, having implemented a variety of security solutions for medium and large organizations across multiple industry sectors in the region, ISIT is eager to engage with organizations in assessing their security posture, improving their readiness against modern threats such as ransomware and delivering security awareness in a way that is targeted and measurable.

Contact us for a free consultation.