Top 7 common Cybersecurity Myths — Busted

Even with the growing awareness about cybersecurity, many myths
about it are prevalent. These misconceptions can be a barrier to
effective security.

The first step to ensure the security of your business is to
separate the false information, myths, and rumors from the
truth.

Here, we’re busting some common cybersecurity myths. Read on to
find out which of the following you thought were true.

Cybersecurity Myths vs. Truths

Myth #1 — Too much security diminishes productivity

There is a common idea that increased security makes it
difficult for even employees to access what they need, not just
hackers. Strict security policies such as regular monitoring and
access control are believed to hinder productivity at work.
However, doing away with security may have far-reaching
consequences for your business. A successful attack like a DDoS attack^[1]or ransomware can bring
your business to a standstill. Employees might not be able to
access important files, networks, and information after an attack.
The recovery takes days and sometimes even weeks.

Truth: Enhanced cybersecurity can boost
productivity.

A modern cybersecurity approach uses security tools that have a
built-in security feature that integrates seamlessly into your
system. It also leverages advanced tech intelligence and analytics
for real-time detection and mitigation of threats. This allows
developers to concentrate on improving their productivity since
they no longer need to worry about security issues.

Myth #2 — Cyberattacks are only caused by external threat
actors

Insider threats are on the rise and are fast becoming a cause of
concern for businesses. Insider threats can include employees,
vendors, contractors, business partners, or an external intruder
trying to impersonate an employee. A recent survey^[2]
revealed that insider threats are responsible for 60% of data
breaches.

In addition, you can never be fully aware of where these attacks
can originate from, and traditional security solutions are largely
ineffective when it comes to these threats. This makes them much
harder to detect and contain than external threats.

Truth: Therefore, cyberattacks can very well start from
someone you know.

Use a combination of behavioral analytics and privilege and
access management to minimize insider threats. Additionally,
conduct security awareness training sessions to educate employees
about the dangers of insider threats and how to detect them.

Myth #3 — Cybercriminals only attack large businesses

Small and medium-sized businesses may often be under the false
impression that their data isn’t valuable to hackers. However,
small and medium-sized businesses are one of the top targets for
hackers.

A recent study^[3]
revealed that hackers targeted small businesses nearly half of the
time. But only 14% of these businesses were prepared to defend
themselves in such a situation.

Truth: No business – no matter how large or small, is
ever immune to hacking attempts and malicious attacks.

Hackers don’t discriminate when it comes to their victims. So,
don’t let the size of your business, determine how valuable your
data is or how secure your assets are.

Myth #4 — Anti-Virus or Anti-Malware Software is enough to
secure my business

The anti-virus software is an essential part of your
cybersecurity plan. However, it only secures one entry point into
your system. Hackers have many ways to bypass anti-virus software
and infiltrate networks with attacks such as targeted phishing
attacks, and ransomware.

So, even with anti-malware software in place, hackers will have
plenty of room to launch an attack.

Truth: Anti-virus software can only protect you from a
unique set of recognized cyber threats, not from other emerging
cyber threats.

As a business, you need to do much more to secure your data from
hackers. Deploy an all-encompassing security solution like a
Web Application
Firewall^[4]
that monitors threats continuously and provides end-to-end, 24*7
protection from cyber risks.

Myth #5 — Cybersecurity is too expensive

Even as malicious cyberattacks continue to make headlines and
cost businesses millions, companies still wonder if cybersecurity
investments are worth it. Data security is frequently overlooked
and is only an afterthought for many enterprises. The average cost of a data breach in 2021 is
$4.24 million, the highest in the last 17 years.^[5] And this figure does not
include the damage that comes with the crippling reputational
losses and customer losses from a breach.

Truth: The cost of a good cybersecurity solution is
nothing compared to the cost of a successful attack.

Invest in a modern security solution like Indusface
AppTrana^[6], for
example, that can protect you from the latest threats. Moreover,
there are many precautionary measures that you can take with
absolutely no additional cost to your business, such as strong
passwords, multi-factor authentication, access management, and
employee training.

Myth #6 — You don’t require cybersecurity because you’ve never
been attacked

If you’ve never experienced a cyberattack or data breach
yourself, the chances are that you don’t know just how much damage
they can cause. You may also assume that your current security
posture is strong enough to keep the bad actors away since you’ve
never been attacked.

However, cyber threats and hacking tools are continuously
evolving to become more and more sophisticated and undetectable
each day. And any sensitive data is a potential target for a
breach.

Truth: You could easily be the next target.

Develop a sound security strategy that helps you identify
existing weaknesses and mitigate attack attempts before any
significant damage is caused.

Myth #7 — You’ve achieved total cybersecurity

Cybersecurity is a continuous process that needs to be upgraded
with the changes in the threat landscape. Therefore, never stop
working on securing your IT assets. Your organization will always
be susceptible to existing and emerging threats.

Truth: There is no such thing as total or perfect
cybersecurity against cyberattacks.

Review your security policies periodically, conduct security
audits, monitor your critical assets continuously, and invest in
the upcoming updates in security measures.

Conclusion

Myths and negative ideas around cybersecurity pose a real threat
to organizations that are exposed to various cyber threats each
day. Misinformation can open even more opportunities for hackers to
infiltrate your network. Stay informed on the latest security best
practices to ensure the safety of your business and customers.