7 Reasons Why Cybersecurity and Phishing Awareness Training Is a Must-Have for Businesses

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In an era dominated by digital advancements and interconnected ecosystems, the threat of cyberattacks continues to grow, affecting businesses of all sizes. Unfortunately, according to the Identity Theft Resource Center’s (ITRC) 2023 Data Breach Report, the past year brought about a somber realization that cybercriminals have grown more relentless than ever, with data breaches rising by an alarming 78%. In a volatile cybersecurity atmosphere the risk of falling victim to cyberattacks, particularly phishing attempts, looms large – and that’s a major reason why businesses must prioritize cybersecurity and phishing awareness training.

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Businesses are dealing with multiple simultaneous cybersecurity problems

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Businesses have dealt with a seemingly never-ending stream of evolving cybersecurity challenges in the last few years. There is no clear leader in the list of cybersecurity issues that businesses have experienced. In fact, the top three challenges are nearly tied. Phishing tops the list of security issues that respondents have encountered (41%), followed closely by viruses (39%) and endpoint threats (39%). More than half of our respondents have also had to contend with a dangerous cyberattack like ransomware or business email compromise (BEC) at some point (58%).

Which of the following cybersecurity issues have impacted your business?

Issue	Response
Phishing messages	41%
Computer viruses	39%
Endpoint threats detected	39%
Personal information or credential theft	34%
Business email compromise (BEC)	31%
Ransomware	27%
Supply chain attack	18%
None	4%

Source: Kaseya Security Survey Report 2023

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IT teams are plagued by an array of fast-evolving issues

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It’s been a tumultuous year for cybersecurity. In terms of challenges faced by our survey respondents in the past 12 months, it is notable that there is little space between the top three causes of cybersecurity trouble. Businesses have encountered a variety of challenges, with no singular problem ahead of the rest. Over the course of 2023, over one-third of our survey respondents have had to contend with phishing messages (37%), endpoint threats (33%) and computer viruses.

Which of the following cybersecurity issues have impacted your business in the past 12 months?

Issue	Response
Phishing messages	37%
Endpoint threats detected	33%
Computer viruses	33%
Personal information or credential theft	29%
Business email compromise (BEC)	26%
Ransomware	24%
Supply chain attack	16%
None	7%

Source: Kaseya Security Survey Report 2023

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The root cause of most cybersecurity issues is easily fixed

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Companies and security teams constantly grapple with an array of challenges that can be hard to pin down. When asked about the top three reasons behind their cybersecurity issues, lack of cybersecurity training was the main culprit. More than half of respondents (53%) reported that the lack of end-user or administrator training was a major reason behind their cybersecurity issues. But that doesn’t have to be the case. Cybersecurity awareness training is a highly effective security move that any business can make without a big upfront investment. Plus, automation makes it easy for a lean IT team or solo IT professional to administrate training

What are the top three root causes of your cybersecurity issues?

Issue	Response
Lack of end-user cybersecurity training	28%
Lack of cyber defense solutions (antivirus)	28%
Insufficient security support for different types of user devices	26%
Lack of administrator cybersecurity training	25%
Lack of executive buy-in for adopting security solutions	22%
Lack of funding for IT security solutions	21%
Lost or stolen employee credentials	17%
Poor user practices/gullibility	15%
Open Remote Desktop Protocol (RDP)access	13%
Outdated security patches	13%
Shadow IT	11%
Weak passwords or access management	10%
We have not experienced a cybersecurity incident	7%

Source: Kaseya Security Survey Report 2023

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Look at these 7 reasons why cybersecurity training is a must-have

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These are seven of the most crucial reasons why investing in cybersecurity awareness and phishing resistance training is not just advisable but essential for the modern business landscape.

1. Employees are a company’s first line of defense

While technological solutions are vital, the human element remains a significant factor in cybersecurity. Employees, often unknowingly, can be the gateway for cyberthreats. Cybersecurity and phishing awareness training transform employees into a proactive human firewall, arming them with the knowledge to identify and thwart potential threats.

2. Phishing is a pervasive threat that is only getting worse

Phishing attacks continue to be one of the most prevalent and effective methods employed by cybercriminals. Now bad actors are using Artificial Intelligence (AI) to make their messages even harder for employees to detect. With tactics becoming increasingly sophisticated, businesses can no longer afford to underestimate the impact of phishing. Comprehensive training empowers employees to discern phishing attempts, recognize red flags and take preemptive measures to mitigate risks.

3. Data protection and compliance

As custodians of sensitive data, businesses must comply with stringent data protection regulations. Cybersecurity training not only educates employees on the importance of data security but also ensures adherence to compliance standards. This, in turn, shields businesses from legal repercussions and financial penalties associated with data breaches.

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4. Financial safeguarding

Cybersecurity incidents can wreak havoc on a business’s financial health. From direct financial losses due to fraudulent activities to the indirect costs of reputational damage and customer trust erosion, the financial impact of a cyberattack can be severe. By investing in training, businesses minimize the risk of falling victim to cybercrimes, improving the ability to safeguard their financial well-being.

5. Preserving reputation and customer trust

A cyber incident can tarnish a business’s reputation in an instant. Customers, partners and stakeholders place immense trust in organizations to protect their data. Cybersecurity and phishing awareness training demonstrate a commitment to maintaining that trust, reinforcing the organization’s credibility and reliability in the eyes of its stakeholders.

6. Adaptability to evolving threats

Cyberthreats are dynamic, evolving and adapting to countermeasures. Regular and up-to-date training ensures that employees stay ahead of emerging threats, equipping them with the skills needed to navigate the ever-changing landscape of cybersecurity risks. Security awareness training improves phishing awareness by an estimated 40%.  

7. Cyber resilience culture

Inculcating a culture of cyber resilience within the organization is paramount. Training fosters a collective understanding of the importance of cybersecurity, creating a shared responsibility among employees to actively contribute to the organization’s overall cyber resilience.

Cybersecurity and phishing awareness training are not just recommended practices but essential components of a comprehensive cybersecurity strategy. Businesses that prioritize training invest in their own resilience, ensuring they are well-prepared to navigate the complex and evolving landscape of cyberthreats, ultimately securing their assets, reputation and the trust of their stakeholders.

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Kaseya’s Security Suite Helps Businesses Mitigate All Types of Cyber Risk Affordably

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Kaseya’s Security Suite has the tools that MSPs and IT professionals need to mitigate AI phishing risk effectively and affordably, featuring automated and AI-driven features that make IT professionals’ lives easier.  

BullPhish ID — This effective, automated security awareness training and phishing simulation solution provides critical training that improves compliance, prevents employee mistakes and reduces a company’s risk of being hit by a cyberattack.     

Dark Web ID — Our award-winning dark web monitoring solution is the channel leader for a good reason: it provides the greatest amount of protection around with 24/7/365 human and machine-powered monitoring of business and personal credentials, including domains, IP addresses and email addresses.    

Graphus — Automated email security is a cutting-edge solution that puts three layers of AI-powered protection between employees and phishing messages. It works equally well as a standalone email security solution or supercharges your Microsoft 365 and Google Workspace email security.      

RocketCyber Managed SOC — Our managed cybersecurity detection and response solution is backed by a world-class security operations center that detects malicious and suspicious activity across three critical attack vectors: endpoint, network and cloud. 

Datto EDR — Detect and respond to advanced threats with built-in continuous endpoint monitoring and behavioral analysis to deliver comprehensive endpoint defense (something that many cyber insurance companies require).      

Vonahi Penetration Testing – How sturdy are your cyber defenses? Do you have dangerous vulnerabilities? Find out with vPenTest, a SaaS platform that makes getting the best network penetration test easy and affordable for internal IT teams.   

Learn more about our security products, or better yet, take the next step and book a demo today!

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