No business, whether a small startup or a multinational corporation, is immune to cyber threats as they grow in complexity and frequency. Small businesses often lack dedicated IT security teams, making them attractive targets for cybercriminals. On the other hand, large enterprises face sophisticated attacks aimed at exploiting vast amounts of sensitive data. In 2024, the global average cost of a data breach reached an unprecedented $4.88 million, marking a 10% increase from the previous year (IBM, 2024). Additionally, data breaches have become alarmingly frequent, with 3,158 incidents reported, reflecting a 70% rise since 2021 (Time, 2024). These numbers highlight the urgent need for stronger cybersecurity measures across all industries, regardless of business size. Furthermore, cybercriminals are evolving their tactics, leveraging artificial intelligence, deepfake technology, and increasingly sophisticated phishing schemes to exploit vulnerabilities. As threats continue to rise, companies must recognize that their current security strategies may not be enough to mitigate risks.
Despite the increasing sophistication of cyber threats, many companies still fall into common security pitfalls that leave them vulnerable to attacks. A breach not only results in financial losses but can also damage a company’s reputation, lead to legal repercussions, and erode customer trust. The cost of recovering from a breach often exceeds preventive cybersecurity investments, making it even more crucial for organizations to address vulnerabilities before an attack occurs.
To help businesses strengthen their security posture, here are five key cybersecurity mistakes that could put your businesses at risk and how to avoid them.
1. Underestimating the Threat
Many businesses, especially small and mid-sized companies, operate under the false belief that cybercriminals only target large enterprises. In reality, attackers seek out businesses of all sizes, often preying on those with weaker security measures. Cybercriminals use automated tools to scan for vulnerabilities, meaning no business is too small to be targeted. Additionally, with the rise of ransomware-as-a-service (RaaS), even less-skilled attackers can launch sophisticated cyberattacks, making no organization immune.
Underestimating the threat can result in insufficient security investments, leaving businesses exposed to data breaches, ransomware attacks, and financial losses. To combat this, organizations must adopt a proactive cybersecurity approach, regularly access risks, and stay informed about emerging threats. Investing in security tools, conducting regular security audits, and partnering with cybersecurity professionals can provide additional layers of protection. Organizations should implement well-developed solutions to prevent and respond to threats in real time.
2. Lack of Security Awareness Training
Employees are often the first line of defense against cyber threats, but they can also be the weakest link if not properly trained. Phishing attacks, social engineering tactics, and weak password practices can lead to significant security breaches. A joint study by Professor Jeff Hancock and Tessian, “Psychology of Human Error” stated that 88 percent of cybersecurity breaches are caused by human error. Without adequate cybersecurity training, employees may unknowingly compromise sensitive data.
To mitigate this risk, businesses should implement regular security awareness training and conduct phishing simulations. Training should be ongoing and adapt to evolving threats, ensuring employees can recognize and respond appropriately to potential attacks. With the implementation of security awareness training, organizations can achieve regulatory compliance and avoid hefty fines.
Mind-SAT is an advanced version of Security Awareness Training (SAT) that focuses on changing user behavior rather than just providing security knowledge. It helps employees recognize and respond to security threats effectively through repeated training and real-time feedback.
3. Undermining Shadow Data
Shadow data refers to business information that is not actively tracked, managed, or officially recognized by an organization’s data governance. This can include duplicate files, old backups, or data stored in unregulated locations. Because these data are not properly monitored, they create blind spots in an organization’s security strategy. Shadow data can also increase compliance risks, especially for personal, financial and healthcare data, as they demand robust identification and monitoring.
Therefore, businesses must track where sensitive information is stored, monitor how they are processed, and ensure that all information is protected under the same security framework. Implementing enterprise-wide data visibility solutions and establishing access control measures can help businesses manage shadow data effectively. Automated discovery tools to identify and classify data can further enhance data security.
Fasoo DSPM (Data Security Posture Management) helps organizations enhance their data security posture by discovering, classifying, and analyzing data across on-premises and cloud environments. It assesses security risks by examining access controls, identifying repository vulnerabilities, and detecting unmanaged data, providing continuous monitoring to ensure proactive threat management. By taking a comprehensive approach, Fasoo DSPM enables organizations to strengthen their security posture and maintain compliance with regulatory requirements.
4. Not Backing Up Data
Although data loss due to cyberattacks, hardware/software failure, or accidental deletion is catastrophic for businesses, many fail to establish a robust backup strategy. Ransomware attacks, for instance, can lock businesses out of their critical data, forcing them to pay large sums to regain access. However, paying a ransom does not guarantee data recovery and often incentivizes further attacks.
To prevent and minimize the impact of cyberattacks, organizations should implement a comprehensive data backup plan that includes regular, encrypted backups. Regular data backs are essential for data integrity and availability. When such sensitive files are backed up properly, organizations can reduce downtime for restoring their data after being attacked.
Fasoo Content Backup and Recovery (FC-BR) is a secure, simple, and fast content backup and recovery solution designed to help organizations efficiently protect and restore their critical data. It enables automatic backup of data directly within the rendering application, ensuring seamless and continuous data protection. With advanced encryption, FC-BR safeguards sensitive information, preventing unauthorized access. Organizations can also define who has the authority to manage or restore backups, reinforcing security and access control. The solution allows for instant data recovery with a single click, minimizing downtime and ensuring business continuity.
5. Relying on Perimeter-Based Security
Traditional cybersecurity strategies often focus on securing the perimeter of a network while assuming everything inside is secured. However, modern threats, such as insider threats and sophisticated malware, require a more adaptive security model. A compromised credential or phishing can give attackers access to an entire network. Moreover, the rise of remote work and cloud environments has blurred the boundaries of traditional network perimeters, making them less effective.
Hence, businesses must shift toward a zero-trust data security approach that focuses on protecting the data itself. Implementing data-centric security solutions ensures that sensitive information remains protected regardless of where it resides or how it is accessed. Encryption, access controls, data classification, and monitoring policies should be enforced to safeguard critical assets.
Fasoo Enterprise DRM (EDRM) is a zero-trust data-centric security solution that provides persistent security for sensitive documents – at rest, in transit, and in use – on any device at any time. Encrypting files and applying granular access controls ensures that users have control over sensitive information both inside and outside the organizations. It extends protection beyond encryption with other integrated solutions to safeguard sensitive data on screens, printouts, and mobile devices.
Conclusion
Avoiding these common cybersecurity mistakes requires a proactive mindset and a commitment to ongoing security improvements. By acknowledging the risks, educating employees, securing shadow data, backing up critical information, and adopting a zero-trust framework, businesses can significantly reduce their exposure to cyber threats.
Fasoo’s Zero-Trust Data Security Platform consolidates data-centric processes and integrates advanced security to achieve zero-trust standards. It ensures persistent control and protection of sensitive data. The platform utilizes a centralized policy engine that spans all processes. Covering data discovery, protection, analytics, and secure collaboration, Fasoo’s integrated security solutions provide the most advanced zero-trust features to deliver stronger security with less complexity.
