3 CYBER SECURITY MYTHS THAT WILL HURT YOUR BUSINESS THIS YEAR
“I don’t care if it costs me more money, I am going to make sure that every single client of ours has the absolute best security and solutions in place. If I am not doing my job. Plain and simple.”
Workingamidtheever-changing currentsoftechnologyandcybersecurity, businessesoftenfindthemselvesentangled inawebofmisinformationandoutdated ideas.Butfailingtodistinguishbetween mythandfactcanputyourbusiness’s securityatseriousrisk.
Basedonexpertresearchinthefield, includingCompTIA’s2024globalState OfCybersecurityreport,wewilldebunk threecommonmisconceptionsthat threatentoderailyoursuccessin2024.
Myth 1: My Cyber Security Is Good Enough!
Fact: Modern cyber security is about continuous improvement.
RespondentstoCompTIA’ssurvey indicatedthatoneofthemostsignificant challengestocybersecurityinitiatives
todayisthebeliefthat“currentsecurityis goodenough”(39%).
Oneofthereasonsbusinessesmaybe misledbythestateoftheirsecurityisthe inherentcomplexityofcybersecurity.In particular,it’sincrediblychallengingto trackandmeasuresecurityeffectiveness andstaycurrentontrends.Thus,an incompleteunderstandingofsecurity leadsexecutivestothinkalliswell.
Over40%ofexecutivesexpresscomplete satisfactionwiththeirorganization’scyber security,accordingtoCompTIA’sreport. Incontrast,only25%ofITstaffand21% ofbusinessstaffaresatisfied.Thiscould alsobeaccountedforbyexecutivesoften avingmoretechfreedomforadded conveniencewhilefrontlinestaffdeal withlessvisiblecybersecuritydetails.
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“Eitherway,thegapinsatisfactionpointstoa needforimprovedcommunicationonthe topic,”CompTIAwrites.
GetyourITandbusinessteamstogetherand figureoutwhatrisksyoufacerightnowand whatneedstochange.Becausecybersecurityis constantlychanging,yoursecurityshould neverbestagnant.“Goodenough”isnever goodenoughforyourbusiness;vigilanceanda continuousimprovementmindsetaretheonly waystoapproachcybersecurity.
Myth 2: Cyber Security = Keeping Threats Out
Fact: Cyber security protects against threats both inside and outside your organization.
Oneofthemostpublicizedbreachesofthelast decadewaswhenBBCreportedthata HeathrowAirportemployeelostaUSBstick withsensitivedataonit.Althoughthestickwas recoveredwithnoharmdone,itstillcost Heathrow£120,000(US$150,000)infines.
Yes,cybersecurityisaboutprotection. However,protectionextendstobothexternal andinternalthreatssuchasemployeeerror.
Becausesecuritythreatsarediverseandwideranging,therearerisksthathavelittletodo
withyourITteam.Forexample,howdoyour employeesusesocialmedia?“Inaneraofsocial engineering,theremustbepreciseguidelines aroundthecontentbeingsharedsinceitcould eventuallyleadtoabreach,”CompTIAstates. Attacksareincreasinglyfocusedonhuman socialengineering,likephishing,andcriminals bankonyourstaffmakingmistakes.
Additionally,managingrelationshipswith third-partyvendorsandpartnersofteninvolves someformofdatasharing.“Thechainof operationsisonlyasstrongasitsweakestlink,” CompTIApointsout.“Whenthatchain involvesoutsideparties,findingtheweakest linkrequiresdetailedplanning.”
Everyoneinyourorganizationisresponsible forbeingvigilantandawareofsecuritybest practicesandsafetyasitrelatestotheirjobs. Makesureyourcybersecuritystrategyputs equalemphasisoninternalthreatsasmuchas externalones.
Myth 3: IT Handles My Cyber Security
Fact: Cyber security is not solely the responsibility of the IT department.
WhileITprofessionalsarecrucialin implementingsecuritymeasurescomprehensive cybersecurityinvolvesamultidisciplinary approach.Itencompassesnotonlytechnical aspectsbutalsopolicy,development,employee training,riskmanagementandadeep
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tunderstandingoftheorganization’sunique securitylandscape.
Becauseeachdepartmentwithinyour organizationinvolvesuniquerisks,people fromvariousrolesmustbeincludedinsecurity conversations.Butmanycompaniesarenot doingthis.CompTIA’sreportshowsthat while40%ofrespondentssaythattechnical staffisleadingthoseconversations,only36% indicatethattheCEOisparticipating,andjust 25%saythatbusinessstaffisinvolved.
“Morecompaniesshouldconsiderincludinga widerangeofbusinessprofessionals,from executivestomid-levelmanagementtostaff positions,inriskmanagementdiscussions,” CompTIAwrites.“Theseindividualsare becomingmoreinvolvedintechnology decisionsfortheirdepartments,andwithouta properviewintotheassociatedrisks,their decisionsmayhaveharmfulconsequences.”
Businessleadersandemployeesatalllevels mustactivelyengageincybersecurityefforts, astheyareallpotentialgatekeepersagainst evolvingthreats.
Don’t Listen To Myths
Byembracingamindsetofcontinuous improvement,recognizingthewiderangeof threatsandunderstandingthecollective responsibilityofcybersecurity,yourbusiness willremainsafe,resilientandthriving,no matterwhatthefutureholds.
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Mostbusinessleadersstriveforonething:tobe astrongandcompetentleaderofahighperformingteamTodothis,they’lltryjust aboutanything,fromfreelunchestodaylong team-buildingretreatsAlthoughtheseare helpful,high-performingteamsdon’tbegin withexternalmotivators.Theybeginwhen leadersembraceacultureofextremeownership
“Extremeownershipisprettystraightforward,” JockoWillinksays.“You’renotgoingtomake anyexcuses.You’renotgoingtoblame anybodyelseWhensomethinggoeswrong, you’regoingtotakeownershipofthose problemsandgetthemsolved”
WillinkistheauthoroftheNewYorkTimes bestsellerExtremeOwnership:HowUSNavy SEALsLeadAndWinHeexplainsthatthe sameleadershipconceptsthatenableSEAL teamstosucceedinthemostintense circumstancescanalsohelpbusinesseswinagain andagain
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Eventually,Willinkwentontofillleadership roleswithintheSEALs,learningtoembrace personalaccountabilityandteam empowermentNowaretiredSEALofficerand co-founderoftheleadershipconsultingfirm Echelon,he’sworkedwithhundredsofcivilian companiesonextremeownership,findingthe
sameresults:whenleaderstakeownershipof problems,theentireteamismorelikelytobe high-performingandsuccessful
How To Create An Extreme Ownership Culture
“Thebiggestthingyou’vegottoovercomeis yourego,”WillinkexplainsPointingoutthat someonedidn’tdotheirjobrightorthatthe marketingplanwasn’tcarriedoutcorrectly doesn’tsolvetheproblem.“You’retheboss. Youownit,”WillinksaysWhenoneperson takesownership,itspreads“That’swhat developstheculture”
Althoughextremeownershipstartswiththe boss,thekeytoahigh-performingteamisto empowerindividualstotakeresponsibilityfor projectsandtaskstoo
“Ifyouwantpeopletotakeownership,you havetogivethemownership,”Willinksays Thisway,youempoweryourteamtomake decisionswhileyouserveasareliableguideand offerdirectionwhenneeded.“Putthemin positionswheretheymakedecisions,make mistakesandlearntobehonestwithyou,”he saysIfyou’renotgettingthebehaviorsyou need,youcanstudyitandstarttocorrectitby figuringoutwhatsupportyoucanprovide.
Willinkpointsoutthattherewillalwaysbe teammemberswhodon’tembraceownership Butwhenextremeownershipisaculture, they’llnaturallygetweededout.
Thosewhoarereadytostepup,however,will risetothetop“There’ssomethingmore importanttomanypeoplethanhowmuch moneytheymake,”hesays.“Thatiscontrol overtheirdestiny,autonomyandfreedom”
THE GENERATION MOST PRONE TO PHONE-RELATED ACCIDENTS WILL SURPRISE YOU
It’s time millennials stop making fun of their elders for butt dials, weird FaceTime angles and other tech snafus According to data from the National Electronic Injury Surveillance System, millennials are more prone to embarrassing techrelated accidents than any other generation Since 2020, injuries across the board have shot up 20%, likely due to people being home more during the pandemic. The biggest culprit: people lifting televisions, resulting in strains and sprains (lift with your legs, people!) This accounts for 30% of injuries in the US Unsurprisingly, walking and using a cellphone is runner-up, causing 23% of tech-related boo-boos. Eyes up, friends!
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CHECK FRAUD CRIMES ARE “WASHING” AWAY BANK ACCOUNTS
3 Cyber Security Myths That Will Hurt Your Business This Year P. 1
What Every Small-Business Owner Must Know About Protecting And Preserving Their Company’s Critical Data And Computer Systems P 2
Retired Navy SEAL Shares The Key To Building And Leading A High-Performance Team P 3
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Headlinesareusuallyflushwiththelatest digitalbreachesouttogetbusinessesWeak passwords,complexsocialengineeringand businesse-mailcompromiseareoftenthe culpritswehearabout.Butwhileoureyesand earswerehonedinondigitalthreats,oldfashionedpaper-and-pencrimesweresneaking intoourbankaccounts.
AccordingtotheFinancialCrimesEnforcement Network,fraudulent-checkcrimesrose2012% between2018and2022.Expertssaythatthe rise of check fraud began in 2020 when criminalsstartedstealingstimuluschecksOnce thoseended,theyneededanewsourceof incomeIn2023,S&PGlobalnotedthatcheck fraudmadeupone-thirdofallbankfraud, excludingmortgagefraud.
It’sacheapandrelativelysimplecrime happeningunderournoses,andthat’swhy they’regettingawaywithit.
How Criminals “Wash” Checks
AARPsaysthatmostcheckfraudinvolves check“washing.”Thisiswhencriminalsuse bleachoracetonetowashawaytheinkusedto writethepayeeandcheckamountafterstealing itfromyourmailboxorfishingitfromadrop box.Oncewashed,thecheckdries,isfilledout withnewinformationanddepositedatbanksor cash-checkingshops.
It’s a low-budget, fast-cash reward for criminals Even worse, some banks have deadlinesforreportingthiskindofcrimeand won’treimburseyouifyoualertthemtoolate.
Prevent Check Fraud With These
6
Tips
Thankfully,thereareafewsimplestepsyou cantaketosignificantlyreduceyourriskof checkfraud
1. Pay Online: Paybillsonlineusingaprivate Wi-Ficonnectionandasecureportal,like throughyourbankorvendorwebsite
2. Mail Safely: Usethepostofficeformailing checks; avoid leaving them in personal or outdoormailboxes
3 Use Gel Ink: Usenon-erasablegelinkin blueorblackforwritingchecks;theseare hardertoerasethanballpointpenink.
4. Collect Mail Daily: Pickupyourmail dailyIfaway,arrangeforcollection
5. Monitor Your Accounts: Regularlycheck yourbankaccountonline-afewtimesaweek isbest
AccordingtoAARP,a60-year-oldmanhada checkfor$235stolenandcashedfor$9,001.20 –allwithin24hours.It’snotjusttheUSeither. AnOntariobusinessownersentacheckfor $10,800totheCanadaRevenueAgencyto maketaxpaymentsforhismaplesyrup company.Dayslater,ithadbeenstolenand depositedintoanotheraccount.
6. Report Incidents Immediately: Report fraud quickly to your bank and Postal Inspection Service Most institutions are requiredtoreimbursestolenfundsifthetheftis reportedwithin30days
Itmightbeadigitalworld,butcriminalswill useeverytactictogetholdofyourhard-earned cash Addthesesimpletipstoyourroutineto significantlyreduceyourriskofcheckfraud.
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