7 Common cybersecurity misconceptions you shouldn’t fall for

Cybersecurity is the armor of any modern business, protecting their data against the rapid onslaught of digital threats. However, misconceptions about cyber defense can leave organizations vulnerable to unforeseen dangers. We break down the common myths that can compromise your security posture, and provide ways of improving business resilience in the face of evolving cyberthreats.

 

1. Security software does the job

While software solutions like anti-malware programs, endpoint security systems, and firewalls are crucial for cybersecurity, they’re just one piece of the larger puzzle. They add to your existing IT infrastructure but are ultimately unable to influence the overall underlying design or configuration. 

 

To strengthen your business’s cybersecurity, it’s important to go beyond software and apply strategies such as cybersecurity training, zero trust access controls, data backups, strong password policies, and multifactor authentication. 

 

2. Cybersecurity is your IT team’s responsibility

Although IT departments are responsible for ensuring that strong cybersecurity tools and frameworks are put in place, cybersecurity should be everyone’s responsibility.

 

Statistics from Verizon’s 2022 Data Breach Investigation Report reveal that a whopping 82% of all breaches trace back to the “human element,” which include stolen credentials, misuse, phishing attacks, or human error. 

 

Such findings highlight how cybersecurity must be a shared responsibility across departments and company roles, with all workers doing their part in staying vigilant, well informed, and proactive in recognizing and mitigating online threats.  

 

3. Cybersecurity is a one-and-done strategy

A prevalent misconception is viewing cybersecurity as a set-and-forget strategy. In reality, the digital world is in constant flux, with new threats emerging each day, and today’s defenses may be completely obsolete by tomorrow.

 

Cybersecurity should therefore be seen as an iterative process that demands regular review and upgrades to defend against the latest threats. 

With hackers becoming more sophisticated, organizations must continually educate their teams, update security protocols, and invest in the latest technologies. Effective strategies are akin to maintaining a fortress — walls need reinforcement, and defenses must adapt.

 

4. Cybercriminals only target large organizations

The larger the business, the larger the target — though this doesn’t mean small businesses are untouchable. 

 

In fact, hackers may be particularly drawn to smaller companies. One reason for this is that small businesses may lack the budget and expertise to fully secure their operations, making them more susceptible to far more sophisticated attacks. 

 

Secondly, many modern attacks are automated and scaled for efficiency, allowing cybercriminals to cast a wide net and target businesses of all sizes. Small companies, with their limited defenses, can be particularly vulnerable to these indiscriminate threats.

 

5. Compliance leads to sufficient protection

While compliance is undeniably crucial, it shouldn’t be viewed as the end goal for cybersecurity. Rather, organizations should consider it a foundational stepping stone. Achieving comprehensive protection will require additional strategies, such as adopting a risk-based approach and tailoring your security measures to your business’s unique vulnerabilities. 

 

You must also review your existing security framework to make sure they’re still effective at protecting your business. Periodic security assessments can help with this, as they identify any flaws in your current framework and help guide improvements, ensuring your protection evolves with the threat landscape.

 

Additionally, it’s worth nurturing a culture of cybersecurity awareness across all levels of your organization. Provide ongoing training, promote best practices, and emphasize the critical role of security among employees and leadership alike.

 

6. Cyberattacks are an external threat

While hackers and cybercriminals are a common cause of breaches, those within your organization can also pose an equal or even greater threat to its security. These insider threats can exploit their access to sensitive information and systems, potentially causing substantial harm.

 

To protect your business against these rogue insiders, it’s important to equip staff with cybersecurity knowledge and how to recognize and report potential issues. It may also be worth limiting access to critical information, granting it only to those with genuine needs. This will help reduce the risk of accidental or intentional security breaches. 

 

7. Cybersecurity is too expensive

Though effective cybersecurity does have its costs, it’s essential to consider the alternative. IBM’s Cost of a Data Breach Report for 2022 revealed a shocking global average cost of USD4.35 million for a data breach. This cost encompasses not only financial losses but also damage to reputation, lost customer trust, and legal ramifications.

 

Investing in cybersecurity isn’t an expense — it’s a strategic decision to safeguard your organization from potentially catastrophic consequences. The price of prevention pales in comparison to the exorbitant cost of a data breach, making cybersecurity a sound and necessary investment for businesses of all sizes.

 

Enhance your cybersecurity strategy with NetWize. Reach out to our experts today and bolster your defenses against current and emerging cyberthreats.