According to a 2017 survey, the average financial impact of a data breach for SMBs in North America is $117,000. The average financial impact of a data breach for large enterprises in North America is $1.3 million.
That is a lot of money for a company to lose and still not be aware of the truth about cybersecurity. As an IT professional and a leader in your technology-based organization, cybersecurity is a major issue that affects everyone from the top down. Even if your organization has not suffered a data breach, it is critical to know the risks and how to protect your enterprise.
Too often, data breaches happen simply because there are several myths floating around and IT leaders choose to believe them. Here are 3 of those 6 myths and the truth that debunks it:
Myth #1: Employee education is a nice add-on item.
Actually, according to a 2017 survey, “careless or uninformed employees contributed to 46% of security events.” Employees can be your biggest liability when it comes to cybersecurity. This is why it is critical to train employees, help them understand their roles involving security IT issues, and keep them up to date on the latest trends. When employees know, they can do better.
Myth #2: Security is an internal issue.
Actually, according to that same 2017 survey, “Of all sized companies, 49% experienced data breaches
in the past 12 months.” Small to midsize companies sometimes have the idea that since they are not that big, they aren’t a target. The opposite is in fact true. Many SMBs are vendors to larger companies, making them a portal for cybersecurity invasion. If you are a vendor, supplier, or partner, it is up to you to make sure you hold up your end of the security deal.
Myth #3: Endpoint protection is a set point on the IT landscape.
Actually, 47% of businesses say that the inappropriate sharing of data via mobile devices is a major security concern. With employees using more than two devices to transmit information and get work done, ensuring all endpoints are secure is a challenge. To combat this challenge, consider creating a plan that leaves room for flexibility, complexity, and growth.