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10 Myths About Cyber Security You Need to Avoid

By Finserv MARKETS - Feb 13,2019
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10 Myths About Cyber Security You Need To Avoid

Cybersecurity is one of the major obstacles faced by businesses today. Despite the increased focus on making companies safe from cyber threats, there are several common cybersecurity misconceptions that still prevail the business world. In this article we have busted 10 common myths about cybersecurity, which are mentioned below:

1. Myth – A strong password is enough to keep your business safe

Although a strong password is one of the foundations of good cybersecurity practices, unfortunately, it’s not enough. Factors like data monitoring and two-factor authentication are also needed.

2. Myth – Small and medium scale businesses are not targeted by hackers

The rapid increase in high profile hacks have tricked small and medium businesses into thinking they won’t be targeted. In reality, small and medium businesses made up over half of last year’s cybersecurity breach victims.

3. Myth – Only certain industries are vulnerable to cyber attacks

This is a very common misconception, in reality, any business with sensitive information like credit card numbers, addresses or personal information is vulnerable to cyber threats.

4. Myth – Antivirus and anti-malware software are enough to keep your data safe

Protective software is just an integral part of a comprehensive cybersecurity plan. An antivirus or anti-malware software cannot protect you against all cyber risks.

5. Myth – Cybersecurity risks stem from external threats

While external cyber threats are certainly a concern, insider threats are just as dangerous and should be watched just as closely. In reality, insider cyber threats are equally as hard-hitting and as difficult to detect, as an external cyber threat.

6. Myth – Cybersecurity is the sole responsibility of the IT department

While the IT department plays a major role when it comes to implementing and reviewing policies to keep companies cyber safe, true cybersecurity preparedness is also the responsibility of every employee and not just those who are part of the IT department.  

7. Myth – Password-protected Wi-Fi is secure

In reality, Wi-Fi passwords largely limit the number of users per network; other users using the same password can view the sensitive data that’s being transmitted. Every public WI-FI connection can be compromised, including the ones that have a strong password.

8. Myth – You will know right away if your computer is infected

A decade ago, this myth may have been true, however, modern malware is stealthy and hard to detect. It’s quite likely that your machine may be infected but will continue running smoothly, allowing the virus to do damage for quite some time before detection.

9. Myth – Personal devices don’t need to be secured at work

All smart devices such as phones and wearables can compromise a network’s system. Hence, employees who use their personal devices for work-related activities need to follow the same protocols put in place on all of the network’s computers.

10. Myth – Complete cybersecurity is achievable

Cybersecurity is a continuous process and not a task to be checked off and forgotten about. New viruses, malware and hacking methods consistently put your system and data at risk. To truly protect yourself from cyber threats, you need to continuously monitor your systems, conduct internal audits, test and evaluate contingency plans and get Cyber Insurance. A Cyber Insurance or Digital Insurance will protect your business from the financial losses resulting from a cyber-breach.

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