Risk Services Of Arkansas July 2019

Update the Human Firewall


Cybersecurity has been an issue since the very first spam email, but it’s recently gained mainstream recognition. From Facebook’s password leaks to countless small businesses suffering from ransomware attacks every year, everyone is looking for ways to keep their company from being the next target. The problem is that even though more businesses are focused on cybersecurity, they often go about it all wrong. Updating your firewall and installing antivirus protection isn’t enough to keep your data safe. The cybersecurity firm KnowBe4 reports that only 3% of recent malware attacks exploited a technical flaw; the other 97% were conducted with social engineering. This means that hackers aren’t attacking your technology — they’re targeting your team. It’s estimated that 91% of data breaches are the result of social engineering schemes like phishing. Before you insist that your teamwould never fall for that, ask if you’re willing to stake $6 million on that claim. This is howmuch money the Wall Street firm SS&C Technology lost in 2016 when their employees fell for a “Business Email Compromise” scam. Employees authorized six wire transfers without verifying the legitimacy of the requests being made via email. Trusting fraudulent emails is also howmany companies find themselves crippled during a ransomware attack. Have a Laugh!

No matter what kind of technology you use, the biggest threat to cybersecurity will always be human error. This is why business owners need to update their human firewall. Take proactive steps to ensure your employees are trained on the basics of cybersecurity, including the following:

• The importance of strong passwords and the dangers of reusing passwords • How to spot spam emails or phishing schemes

• The value of two-factor authentication • Common social engineering schemes • The protocol for approving wire transfers or requests • Risks your company faces

If you really want to double-down on cybersecurity, you could enlist the help of a third-party company to test your defenses and train your team.

Ultimately, cybersecurity only works if your whole team is on board. If you’re the only person thinking about cybersecurity at your company, it’s only a matter of time before one employee unwittingly clicks on a bad link and lets hackers into your systems.


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