10 Security Risks Your Business Could Be Missing
It’s easy to get caught up in the day-to-day grind and overlook the security risks that can sneak up on your business, especially today since there’s so much to do. Most businesses tend to do a great job when it comes to cybersecurity and data protection, but other security concerns are often left to slip - like physical security and untrained staff.
In this article, we’ll highlight some of these overlooked security threats to give you practical tips on how to tackle them before they become a real problem for your business.
Read on to learn more!
Here are some surprising security risks that your business might be facing without your knowledge:
#1 Weak Employee Passwords & Poor Cyber Hygiene
One of the most common and easily preventable security risks is weak passwords. Many businesses still allow employees to use simple or repeated passwords across multiple platforms. This leaves sensitive data vulnerable to hackers who can easily gain access by exploiting weak login credentials.
To protect your business, encourage employees to use strong, unique passwords and enable multi-factor authentication (MFA). Password managers are also a great tool to keep things secure without the hassle of remembering multiple logins.
#2 Unsecured Wi-Fi Networks
Wi-Fi networks are literally just as important as any part of any modern business. However, when left unsecured, they can become a hacker’s playground. Public or poorly protected Wi-Fi networks allow cybercriminals to gain access to sensitive company information, like emails, financial data, or client details.
Ensure your Wi-Fi is protected with strong encryption, use VPNs for remote workers, and have separate guest networks for visitors to keep your business data safe.
#3 Social Engineering & Phishing Attacks
Hackers often use social engineering techniques, such as phishing emails or fake phone calls, to manipulate employees into revealing sensitive information. These attacks may seem harmless at first but can lead to serious breaches if not addressed.
Training your staff to recognise suspicious emails and requests is key to preventing social engineering scams. Make sure they know not to click on unfamiliar links or share personal information over unsecured channels.
#4 You’ve Neglected All Physical Security
Physical security is just as important as digital security, yet it’s often undervalued. Workplaces typically neglect the security of entry points to your office, which makes it easy for unauthorised individuals to walk in. This also includes unlocked doors, unsecured windows, or poorly monitored access points.
You can prevent this by installing security measures like keycard access systems and surveillance cameras. Another great way to make sure everyone in a work environment belongs there is to have ID cards and ID card holders.
These can make it easy to visually identify anyone who should not be on the premises as well as create a sense of belonging for those who should.
#5 Insider Threats & Employee Negligence
Not all threats come from the outside and employees, either intentionally or unintentionally, can pose serious security risks. Whether it’s sharing passwords with non-authorised persons, neglecting to log out of accounts, or accidentally exposing sensitive information, insider threats are something to watch out for.
To combat this, implement strict policies for access control, and regularly review who has access to certain information or areas of the business. Training employees on best security practices and monitoring internal systems can also help spot potential issues before they escalate.
#6 Outdated Software & Devices
Using outdated software or hardware is a major vulnerability that many businesses overlook. Older systems often lack the latest security patches, making them easier targets for cybercriminals.
Please update your software, firmware, and hardware to make sure they are running the latest security features. Also, establish a system for upgrading outdated technology to maintain strong protection against cyber threats.
#7 Third-Party Vendor Risks
If you’re working with third-party vendors or contractors, you could be at risk if their security measures are lacking. A vendor with poor cybersecurity practices can provide a gateway for cybercriminals to access your business data.
It’s essential to vet third-party vendors thoroughly, checking their security policies and ensuring they adhere to the same standards as your own business. You need to have audits often and make sure all vendor systems are protected with appropriate security measures.
#8 Lack of Disaster Recovery Planning
Accidents happen, and businesses need to be prepared for them. A lack of disaster recovery planning can leave your company vulnerable if a cyberattack, natural disaster, or any other disruptive event occurs.
Having a disaster recovery plan in place, along with regular data backups, cloud storage, and an emergency response strategy, makes sure your business can quickly recover from any potential setbacks.
#9 Unsecured IoT & Smart Devices
With the rise of the Internet of Things (IoT), more businesses are incorporating smart devices into their workplaces. However, these devices can often have weak security measures, making them prime targets for hackers.
To protect your business, change default passwords on all IoT devices and make sure they are securely connected to your network. Regularly update their software and monitor for any unusual activity.
#10 Complacency & Overconfidence in Security
The biggest threat to your business security is complacency and many companies assume that nothing will happen to them, or that their current security measures are enough. This kind of overconfidence can lead to gaps in your security infrastructure that hackers are quick to exploit.
To avoid this, stay proactive. Regularly assess your business security, invest in ongoing training for employees, and continually review and improve your security systems.
Reduce All Possible Security Risks for Your Business
Reducing security risks is important for keeping your business safe from both digital and physical threats. Making sure your workplace security is high is extremely important as it helps to protect sensitive data, valuable assets and your team.
If you’re looking to increase your workplace security, conduct a safety audit and decide which method would be most beneficial to you. This could include conducting regular system updates, staff training, and investing in security measures, like ID card holders and access control. These proactive measures help you to prevent any safety risks that could be detrimental to your business. After all, it’s better to be safe than sorry!