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Fact vs Fiction: Cybersecurity for SMEs

Posted by Steve Harrington on Nov 5, 2020

We’ve rounded-up the following statements around cybersecurity for small and mid-sized businesses (SMEs) that our team common hears – and we’ll tell you whether they’re fact vs. fiction.

 

Fact vs. Fiction

 

Fact vs. Fiction: Cyber criminals don’t care about SMEs.

Fiction! Nearly one-third (28%) of data breaches in 2020 involved small businesses, according to Verizon Business 2020 Data Breach Investigations Report (DBIR). Today’s increasingly complex and connected cloud environment has led to a spike in SME cyberattacks. The Verizon 2020 DBIR reveals that 70% of breaches were perpetrated by external actors. Modern cyber criminals are eager to gain access to large organizations by going through smaller third-party vendors that lack the same level of enterprise cybersecurity that large enterprises have.

 

Fact vs. Fiction: Outsourcing cybersecurity is not a realistic option for SMEs.

Fiction! Outsourcing cybersecurity is a great option for SMEs. According to Kevin Landt, VP of product management at Cygilant, via Credit Union Times, “Outsourced resources supplement existing IT/security decision-makers, enabling them to protect their business and maintain compliance without hiring a dedicated security team.” Cygilant works with customers by acting as an extension of their team.

 

Fact vs. Fiction: Compliant doesn’t mean secure. 

Fact! While it’s true that cybersecurity and compliance are often intertwined, they are not the same. An organization may be compliant by meeting minimum security requirements, but that doesn’t mean the organization Is secure. Your IT/security team should not just be aware of the compliance mandates in your industry, but ready to play an active role in helping your organization stay compliant. Rather than trying to take this on alone, partner with a Cybersecurity-as-a-Service provider to help you demonstrate compliance. Cygilant offers expertise across industries and our team of Cybersecurity Advisors (CSAs) have experience and the certifications to help banks, credit unions, universities, manufactures and healthcare facilities validate compliance. A cybersecurity firm with demonstrated compliance benefits acts as a force multiplier.

 

Fact vs. Fiction: Cybersecurity fatigue is a problem. 

Fact! 41% of respondents at both SMBs and large enterprises report experiencing fatigue, according to the Cisco Small and Medium-Sized Business Report 2020. Business leaders and IT/security teams need to be efficient at managing security, especially at organizations where resources are stretched thin. Let Cygilant help relieve your IT team of the stress and burnout associated with cybersecurity.

 

Fact vs. Fiction: Strong passwords are enough.

Fiction! Strong passwords are important, but passwords alone won’t keep your enterprise protected. Other components of a good cybersecurity posture include two-factor authentication and continuous cybersecurity monitoring. Collecting security events across your IT infrastructure, network and applications, and reporting threats on a constant basis, are integral to enterprise network safety. Click here for “5 Steps Towards Improved Cybersecurity with Continuous Security Monitoring.”

 

The cybersecurity landscape is constantly changing, and the COVID-19 pandemic has introduced a whole new set of challenges and cybersecurity issues for organizations across industries. The good news is that we’ve seen remarkable improvement in the SME cybersecurity space in recent years, thanks in large part to growing awareness about cybersecurity as a business priority. In fact, 87% of SME executives agree that security is a high priority, reveals Cisco Small and Medium-Sized Business Report 2020. No enterprise is immune from cyber threats, that’s why it’s Cygilant’s mission is to deliver enterprise-level cybersecurity to SMEs. Let's talk – #BeCyberSmart with #CygilantPeopleProcessTechnology!

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