Think about what your company could accomplish with $4.24 million. That’s a lot of money regardless of whether you are a small firm, mid-sized business, or huge enterprise. And it’s also the average amount businesses lost in 2021 because of data breaches.
Maybe you’re a company’s designated IT go-to trying to manage a patchwork of security solutions or a general analyst pulling your hair out trying to put out fires. Whatever your situation, staying on top of data security threats in today’s digital climate isn’t a task you should be trying to manage alone.
How Does Information Security Prevent Disasters?
Information technology has become critical to running a successful company. Everything from the equipment used at hospitals to the security systems protecting our homes is backed up with some form of connected technology.
Much of the business world has managed to stay afloat and even thrive by shifting to remote work. That means more people relying on the internet to log into secure company systems, opening up fresh opportunities for cyber thieves. Information security, especially when it comes to remote workers, is essential in helping organizations manage threats that include:
- Hacking attempts
- Malicious code injection
- Denial-of-service (DoS) attacks
Many remote workers rely on a personal device to access company info, expanding the potential point of entry that you must track and protect from cyberattacks. That’s a lot to put on the shoulders of anyone, let alone IT employees who may not have the kind of background required to establish robust company-wide security policies.
Signs You Need Help with Information Security
1. Lack of Employee Cybersecurity Training
The most significant point of vulnerability for any company in information security threats is employees. Hackers often use social engineering attempts like sending fake emails allegedly from a supervisor or other company officer. The goal is to get a worker to give up valuable information that can be used to steal data.
A report from SmallBizTrends noted that only 31% of employees received regular cybersecurity training. Security can’t just be the responsibility of one person or even a team of security professionals. An essential element of keeping data safe is teaching employees security best practices, which should include:
- Keeping devices protected
- Learning to recognize fake emails and websites
- Making sure workers install recommended OS updates and security patches (or better yet, doing this for them so you know it’s done)
- Helping workers recognize when their device may have been compromised
- Enforcing secure logon processes
- Prohibiting insecure company data storage
2. No Advanced Security Measures
Organizations can prevent attacks through the use of a bundle of security measures that should be standard, but often are not. For example, if you’re in a Microsoft environment, the standard “out of the box” security with Microsoft is really good, but there are a whole number of features that can be configured to make you even more secure. That includes the use of multifactor authentication (MFA), data loss prevention tools, single sign-on, and other advanced threat protection measures that help stop attackers.
For example, MFA adds extra security parameters around employee logins. Workers receive an email or a text containing a one-time code to confirm their identity. That way, hackers who manage to compromise an employee’s password would still not receive access.
Around 68% of Americans use the same password for multiple accounts, which likely carries over to their employment. That means that workers may be using the same login they use for their social media accounts at work. If hackers get hold of those credentials, they can easily slip into your organization’s systems to steal data.
3. Lack of Regular Security Assessments
It’s not enough to have anti-malware programs and firewalls installed. Organizations should be performing regular testing and reporting on networks and devices to ensure the cybersecurity measures work as intended.
Bad actors continually try to find new vulnerabilities to exploit. The longer a security flaw goes undetected and unpatched, the greater the risk is that your company will become the victim of a cybersecurity incident. That goes double if you have an outside vendor who connects with your system.
Smaller RIAs and financial advisors who handle sensitive client information should be especially aware of any potential security flaws. In addition, those companies must ensure their systems can meet the strict standards of the SEC. Additional cybersecurity support can help your organization put together robust RIA cybersecurity and risk management strategies.
Benefits of Bringing in Additional Information Security Support
Cybersecurity specialists can help your company design and implement protocols designed to protect company data, keep bad actors out of your security network, and monitor your hardware and software for security flaws. In addition, they can help you set up a culture of security among your workers. That way, your staff has the knowledge necessary to remain aware of potential security threats.
Learn more about the cybersecurity services provided by RIA Workspace by reaching out to one of our agents or calling us at (855) 752-5212.