We live in the information age, where technology has enhanced our lives and businesses to heights never thought possible.
We now have smart devices that are capable of telling us the weather forecast, and trading in cryptocurrencies all within our fingertips, on a tablet, to a mobile phone.
As digital becomes more and more widespread, so do the threats posed by cybercriminals.
With all the different malicious threats, such as data breaches, phishing scams, ransomware attacks and more, the internet can be a very dangerous place, if you don’t know what you’re doing. In the UK alone, close to 50% of businesses fell prey to cyberattacks in the year 2020.
In the climate we live in today, any company caught not putting in the necessary safeguards can expect to be punished, quite thoroughly, weeks, months or years down the line.
In the year 2021, the global cost of all cyberattacks rose to a staggering $4 billion dollars, and that number is only set to increase.
But with all the different kinds of cybercrimes, you can fall victim to, along with all the bad advice out there, it can be difficult to determine fact over fiction. So, in this article, we will be going over 8 common cyber security myths, you’ll want to know about.
1. All I Need Is a Strong Password
While having a strong complex password is something you cannot do without, it’s not enough by its own. To add additional layers of security to your login process, you’ll want to go with multi-factor authentication (MFA), as this will require you to authenticate yourself through an additional method, such as an app, like Google Authenticator, or an SMS sent directly to your phone. When you have MFA in place, even if a criminal is able to obtain both your username and password, they’ll still be unable to log into your account due to the second authentication.
2. Your Antivirus Software Is Good Enough
When looking at antivirus software, there is much that could go wrong. While, most end users will be content, with just having an internet security tool installed on their system, in reality, they’re still at risk. The servers of these security programs are vulnerable to cybersecurity attacks, which could render all client systems defenseless.
The kind of security tool that you go with is another important consideration. It’s easy to just go with anything, but you could end up regretting it in the long run. Always go with the best solution, one that is notable and reliable. The best ones, oftentimes will charge you to use them, so if you can afford it, then consider that. Trying to save money by investing in a free solution, could end up hurting you down the road.
3. My Data Has No Value
This is definitely untrue. If this was true, then social media would never have been free. These social media companies monetize your data in order to profit, by selling your information to advertisers.
Your data can be used for a number of nefarious activities, such as impersonation, theft and physical harm. If at least one person values it, then there’s money in it.
4. Third-Party Security Providers Can Handle Everything
Even though it’s possible to invest in a cybersecurity service that will handle the responsibilities such as reviewing and implementing security, and keeping your company safe, there are risks you need to be aware of.
Regardless of how good the security service you decide to go with, you have both an ethical and legal obligation to do your utmost to keep your critical assets safe.
You want to make sure that your security provider is keeping you up-to-date with all of their responsibilities, security duties, breaches and capabilities.
If the security provider is unable to provide you with the details outlining exactly what they are doing, then you should switch to a provider that can do everything it advertises.
5. Security Is Too Expensive
Any company that looks at things like this, is not considering all of the downside expenses. A data breach will ultimately end up costing you far more than if you simply put the money into ensuring all the appropriate security measures are in place. The average cost of a data breach is currently estimated to be around $4 million, this includes the costs of escalating and detecting a breach, notifying the affected parties along with the regulatory authorities, lost reputational and business damages, paying legal fees and fines, and other costs associated with fixing the damage done.
6. Phishing Scams Are Obvious
The various phishing scams and schemes are forever evolving, becoming more convincing and intelligent by the day. Some will pretend to have sensitive information about you on a webcam, and threaten to release it if you don’t do what they ask. Otherwise will pretend to be a service that you are signed up with, sending out a reminder that the company’s privacy settings have changed.
The email address and password that they use to contact you, was most likely obtained in a breach. Some hackers manage to breach social medial accounts of individuals, then send out their scams to people that they know, that way, they already have the trust factor in place.
7. I Don’t Own a Computer, So I’m Not at Risk
In this advanced information age we live in, computers are not the sole target of hackers and scammers, as many of the devices we use today are capable of connecting directly to the net. Scammers will look to exploit routers, phones and even smart TVs. You need to ensure every device is protected.
8. Mainstream Websites Pose No Threat
All of the major sites out there use cookies, which are used to track various things you do online. Despite all of the safety measures, ultimately these companies obtain and process this data. In the event that one of these companies is compromised, such as a data breach. Then your data becomes compromised. For this reason, it’s important not to be complacent when on, even the most reputable sites.
AUTHOR INFO
Uchenna Ani-Okoye is a former IT Manager who now runs his own computer support website https://www.compuchenna.co.uk.