Cyber Security Risks putting your Business in Danger

Cyber security issues are expected to cost businesses up to 6 trillion dollars by 2021, this means that 6 trillion dollars is lost due to cyber mistakes that could have been prevented. It doesn’t matter if your run a small business or a large corporation, you are vulnerable to cyber-criminals not matter what. Here are 10 of the biggest cyber security risks that you need fixing...

Your company’s supply chain is one of the weakest links for cyber security intrusions. If you use overseas suppliers and invoice them or use data analytics to monitor your movements, these are opportunities that could leave your businesses data exposed to cyber criminals.
If you don’t have a strict bring your own device (BYOD) policy in place you could cause serious damage to your business and your businesses reputation. If your staff doesn’t understand the risks, they are exposing to your company through their mobile devices then a data breach could happen. Conduct a full BYOD cyber security audit, this will help you understand areas that a vulnerable to attacks.
From the internet connect printer or the heating system you control with your smart phone, each of these IoT devices or systems can provide an entry point to hackers. You need to know the passwords to these devices and change them regularly to keep hackers away.
A lot of voice controlled digital assistants, like an Amazon – Alexa, could also put your business at risk. Hackers are able to analyse all digital assistants to see where your company’s security is at risk.
If you use cloud-based software, you could be leaving your business vulnerable to unwanted attention from hackers. Do an audit for all of your cloud services, this will show where the weak spots are and what actions need to be done to resolve the issues.
It’s becoming popular to start using open-source services, especially for start-up businesses. According to a recent study, 67% of open-source applications have security vulnerabilities.
A lot of security concerns come from insider threats. This can be from previous employees that have moved onto new jobs or current employees that have had arguments with employers. Make sure you change all passwords when an employee leaves to keep your business secure.
If you are using an old security system you are making your business unsafe, using old technology means it is less secure as newer technology will be up to date. Make sure you are regularly updating or replacing your technology and security system to protect your business.
You need to do daily updates to your company’s software to protect it against malware, viruses and phising attempts. Make sure your IT team is constantly applying security patches and updates so hackers can’t gain access to your software systems.
A lot of USB drives and Bluetooth-enabled devices can leak data. Understanding the risks of hardware devices that your company uses is crucial to make the necessary changes to your businesses security.