Cybercrime has become a major global concern for people and organizations. Between the years 2014 to 2018, there was a 67% increase in security breaches worldwide. In these five years alone, the cost of cybercrime increased by 72%. What is more shocking is that only a few percentage cybercrimes are officially reported. According to security experts, some significant reasons why most organizations don’t report security breaches are embarrassment and reputation damage.
With increasing technological advancements, cybercriminals are becoming equipped to perpetrate more damage. Looking at the graph of cybercrime incidents, it can be projected that there will be a 15% rise in cybercrime costs yearly. To put it in plain numbers, by 2025, the annual cost of cybercrime will be around $10.5 trillion.
The one takeaway from these data and numbers for organizations is that they should tighten their cyber defense and partner with companies offering IT services for government contractors. And starting with regular employee security awareness training can take a long way.
Cybercriminals Target the Human Element
In cybersecurity, the weakest link in any organization is its employees. Instead of going after the technology, cybercriminals target humans to infiltrate an organization’s data systems.
As per a study conducted by Tessian, human error was the #1(88%) cause of data breaches. Another research by Verizon further reinforced this fact as they found that 82% of data breach incidents involved employees. It’s clear that strengthening the human element can help organizations prevent data breaches and enhance data security.
By involving employees and people in cybersecurity initiatives, organizations can ensure they follow cybersecurity best practices and IT security procedures. It’s the easiest and most efficient way to turn the weakest link into the strongest defense line. If they are equipped with the proper cybersecurity knowledge, they’re more likely to detect common cybercrime tricks like phishing emails and report the incident instead of falling into it. Employees will also be able to detect potential cyber threats and report them in time.
Human Know-how, Together With Technical Security Measures, can Enhance
Virtual Private Networks and firewalls are some of the widely used data security solutions. These technologies play a crucial role in safeguarding businesses against cyberattacks. However, even if an organization is technologically well-equipped, cybercriminals can breach through the firewalls by targeting the employees. Thus, technology alone can’t defend an organization from cyber threats. Human errors like forgetting to use VPN to access the company network while using public Wi-Fi, losing a work device, or forgetting passwords can compromise data security. On the other hand, if your employees are well-trained in cybersecurity best practices, they can prevent these mistakes.
Security Awareness Training is a Quick Fix
Employee data security training isn’t just about sending phishing warning emails to the staff. Organizations should invest in security awareness training tools and resources for comprehensive cybersecurity training. This includes conducting regular cybersecurity lectures, cyberattack simulations, and workshops. Putting all these together can be a daunting process for any organization. Such organizations can take help from third-party IT solutions and services company. Third-party service providers can help you put all the data security infrastructure and even conduct cybersecurity workshops.