Cybersecurity: Are Passwords Your Vulnerability?

Cybersecurity strategies need to take into account vulnerable areas, such as employee passwords.Don’t let employee negligence be the source of a data breach. Cybersecurity has never been more important, yet too few companies are doing what they should to protect themselves in areas that can be easily remedied with a few important steps.

According to a study by password management firm Keeper Security, 81 percent of data breaches are due to weak passwords, or passwords that were stolen or still set to default. The same study found that almost 60 percent of people use the same password for everything. What can you do to ensure your employees are practicing safe password procedures?

Cybersecurity attacks continue to become more targeted and severe, carrying heavy consequences for victims. Despite the threat, a study by the Ponemon Institute shows that instead of becoming more prepared, many companies are doing less.

The Ponemon survey found that 61 percent of respondents had reported a cyberattack, which is a six percent increase over the year prior. Almost 54 percent reported that their data had been breached, which is up from 50 percent a year earlier. A ransomware attack became a reality for 52 percent of respondents, and more than half of those said they got hit more than once.

What steps can you take to protect against a cyberattack?

·       Gain more visibility into employee password practices

·       Don’t use the same passwords for accessing multiple accounts

·       Don’t share passwords

·       Use strong passwords that are not easily compromised

·       Develop a password policy and enforce it

·       Implement a control policy regarding BYOD (bring your own device)

·       Train security staff more frequently

·       Update antivirus software and encryption software

The costs associated with stolen records are severe; enough to sink some companies, particularly when you consider the average cost of a data breach is around $1 million-plus. The ongoing lack of preparation and neglect of developing more robust password policies puts many companies at great risk, which is why it’s important to take proactive steps to remediate weaknesses.

At Focal Solutions, we’ve developed a number of processes that make telecom easy. Our team is committed to the success of your business, and that includes making sure you’re secure with robust cybersecurity solutions. We have a mission to develop long-term advocacy for our clients and know industry best practices. Contact us today to learn more.