Cybercrime is here to stay, and it’s costing American firms a lot of money. The average annualized cost of cybercrime for global companies has increased nearly 62% since 2013, from $7.2 million to $11.7 million. And these are just the average direct costs. Target, which experienced a massive data breach in 2013, reported that the total cost of the breach exceeded $200 million. Verizon, which recently purchased Yahoo, may have snagged a $350 million discount because of three large-scale Yahoo data breaches that occurred in recent years. Given these costs, what can companies do?
Better Cybersecurity Starts with Fixing Your Employees’ Bad Habits
A lament that echoes in information security circles is that we’re not doing enough to deal with cybersecurity’s biggest, most persistent threat – human behavior. Attackers typically don’t need to sabotage sophisticated software or hardware; they simply needed to take advantage of predictably poor user behavior. What can companies do to reduce behavioral risks? Instead of having your employees opt-in to specific security actions such as installing and using a VPN, turning on 2-factor authentication, enabling full-disc encryption, or authorizing auto-update features, turn these features on by default. When a software update is released, send an email instructing employees to block off a time on their calendar to actually complete the update. And make awareness training an ongoing process, building in feedback so that employees learn what they can do to avoid mistakes in the future.