by Matt Solomon

Companies That Maintain Low Cybersecurity Standards Pay the Price in More Ways Than One 

Many companies spent 2020 in survival mode, and that’s understandable – it’s almost hard to believe that so many major challenges emerged in the same year. That led to many companies becoming slapdash about security updates, refreshed cybersecurity awareness training and basic cybersecurity hygiene. It’s time to get back on track before one of these disasters comes knocking on your door.  

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Ransomware Ruin 

Ransomware disaster is waiting around every corner for businesses these days. Companies saw a more than 80% increase in cybercrime overall in 2020, but there was a seven-fold increase in ransomware. Cybercriminals aren’t pulling any punches either – ransomware has been an equal opportunity offender, used as a weapon against healthcare targets in the middle of a pandemic, essential transportation resources, charities and large and small businesses in every sector.  

Database Debacles 

Unlocked or poorly secured databases were the cause of an estimated 13% of data breaches in 2020, as neglected Elasticsearch servers and abandoned AW3 buckets spilled data from colleges, marketing companies, healthcare providers, news platforms, professional associations and more. Even technology and cybersecurity companies failed at security basics, sometimes with extremely damaging results. 

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Password Peril 

Sloppy password security causes big problems. As the line between applications and devices used at home and at work blurs now that work is at home, password reuse and recycling really has the opportunity to do damage to companies. Over 40% of people use a rotating cast of a few passwords for all of their online accounts whether they’re at work or at home – and more than 10% use the same password for everything without ever changing it, creating enormous risk for password compromise. 

Don’t Settle for Good Enough

Whether they’re caused by neglect, negligence, ignorance, or spite all of these breaches were preventable with the right combination of solutions and a solid commitment to practicing good cybersecurity hygiene throughout an organization. Over 80% of businesses have experienced an increase in cybercrime in 2020. Threats lurk around every corner, yet 65% of businesses don’t do enough security awareness training – and 45% don’t do any at all.  

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Investing in boosting your staff’s cybersecurity risk awareness and adding fast affordable protection against many risks is a must for any company that wants to avoid a data breach – and no one can afford that right now. Contact the experts at ID Agent and let us help you stay on track to avoid the perils of sloppy cybersecurity. 

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