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5 Common Cyber Security Risks and How to Mitigate Them

In today’s technology-driven world, IT security risks are a constant concern for businesses. With cybercrime being at an all-time high, without the right protection in place, your business could fall victim to a cyberattack. 

From poor password security to malware and insider threats, these risks can potentially compromise sensitive information, disrupt operations, and cause your business to suffer significant financial and reputational damage. 

It’s crucial for organisations to be proactive in identifying and addressing these risks to protect their data and systems. 


Common IT Security Risks

Let’s discuss some common IT security risks and what can be done to mitigate them:


1. Poor Password Security 

Having a poor password may seem an obvious security risk, but you’d be surprised at how many people still use the same password for multiple different websites and apps, or use a password that can be easily guessed, even in a business environment. 

1 in 10 people admit using the word ‘password’ when setting a secure password. 

Enforcing multi-factor authentication (MFA) and implementing a robust password policy are essential steps to improve password security. MFA adds an extra layer of authentication, reducing the risk of unauthorised access. 

Additionally, organisations should encourage the use of strong, unique passwords and regularly educate employees about the importance of password security. 


2. Lacking Cyber Awareness

Human error is one of the biggest threats to data security. 

Whether your organisation be a SME or a large business, every person within your business should be knowledgeable regarding your cyber security policies. 

To improve cyber security knowledge, integrating cyber awareness training into the employee onboarding process and delivering ongoing training is crucial and should be a part of an organisation’s overall security strategy.  

Conducting attack simulations and fake phishing scam tests can help identify vulnerable individuals and provide targeted awareness training to improve their security knowledge. 


3. Dated Software

Running outdated software puts your systems at risk of exploitation.  

Older versions of software often have known vulnerabilities that have been discovered over time meaning hackers and cybercriminals can exploit these weaknesses to gain unauthorised access to systems, steal data, or disrupt operations. 

Another downside to outdated systems is developers may stop providing updates and support for older versions, which makes bugs harder to fix and weakens software security. 

To mitigate the risks associated with dated software, it is crucial for businesses to regularly update their software across the entire IT infrastructure to the latest supported versions. Implementing policies and procedures that enforce regular updates and patches can help ensure that systems remain protected against new threats. 

Additionally, businesses should consider utilising tools and technologies that automate software updates to minimise the risk of human error and ensure timely updates across the organisation.  

At 848, we have utilised tools such as Intune to help customers stay up to date with their IT infrastructure, so that software is never more than 2 versions behind the latest update, and update roll outs are staggered to minimise disruption and allow for testing.  


4. Malware and Ransomware

To prevent malware and ransomware attacks, organisations should perform regular threat intelligence research to stay informed about new and emerging threats. 

Regularly backing up critical data is essential in case of an attack. Utilising VPNs, firewalls, and robust filtering and monitoring solutions can add further layers of protection. 

It’s also crucial to review and remove user permissions that are no longer needed and centrally manage devices to only allow trusted applications. 

Lastly, malware cannot be totally avoided so having a clear response plan in place can help mitigate the impact of an attack. 


5. Malicious Behaviour and Insider Threats

Addressing malicious behaviour and insider threats requires a multifaceted approach. 

Tactics such as training employees about social engineering techniques, implementing strong access controls, and regularly monitoring activity logs can help identify and prevent insider threats. 

It’s also important to have processes in place for reporting suspicious activity and conducting thorough investigations when necessary. 

By taking proactive steps and implementing these strategies, organisations can reduce the risk of falling victim to IT security risks. Remember, security is an ongoing process, and staying vigilant and up to date with the latest best practices is essential in maintaining a secure IT environment. 


Cyber Security Assessment

If you are unsure of the security gaps within your business, then it could be worth carrying out a cyber security assessment. 

What is a Cyber Security Assessment?

A cyber security assessment is a crucial part of an effective data protection and risk management strategy for any business. It involves thoroughly evaluating your current security posture to gain a deeper understanding of potential risks and vulnerabilities. By conducting a cyber security assessment, you can identify, control, and mitigate various forms of cyber security risks that may impact your business. 

These security assessments are an ongoing process that should be regularly repeated to ensure your security measures remain robust in the face of evolving threats. By periodically reevaluating your security posture, you can stay ahead of emerging risks and ensure that your data and systems are well-protected. 

To perform a comprehensive cyber security assessment, it is essential to engage a qualified security professional who can grasp the unique aspects of your IT environment, the sensitive information you handle, and the critical business data that needs protection. 

At the 848 Group, we have highly skilled professionals who will utilise their expertise to assess your security measures and identify any gaps or weaknesses in your system, whether it be software related or gaps in employee’s security knowledge. 

By pinpointing your specific security risks and vulnerabilities through a cyber security assessment, we can develop a plan to address and remove these areas of concern, helping to strengthen your overall security posture and better protect your business from potential cyber threats. 


Book a Cyber Security Assessment with 848

Book a cyber security assessment with the 848 Group to reduce your cyber risk today. We have a highly specialised team of cyber security experts to deliver your assessment and help you protect your business from data breaches and attacks.