Debunking Cyber Security Misconceptions
Evolution is an intriguing process. Regardless of one’s belief in it, its influence is undeniable. This is true for cyber threats as well, which have evolved significantly over the years. Yet, there are individuals and organisations that believe they are impervious to these changes. This is akin to those who neglect insurance or retirement planning until reality strikes.
Consider a couple who worked tirelessly to provide the best for their family and saved a small amount every month for retirement. Unfortunately, their savings were insufficient to cover their living costs when they grew old and required specialised care. As a result, they were placed in an institution that failed to provide the necessary care and respect they deserved.
This scenario is not unlike those who disregard insurance, medical aid or simply cannot afford it. It underscores the importance of caring for our families, employees and businesses.
The cost of living has put us in a precarious situation where we need to balance our hard-earned money. However, we cannot overlook essential aspects of our lives such as medical aid, insurance and cyber security.
Cyber security has evolved beyond the protection offered by a simple anti-virus. Cyber criminals no longer aim to infect systems or devices but seek access to data or infiltrate systems with ransomware. Data is the new king in a cyber criminal’s world and holds more value than merely infecting a system. Their intention is not just to infect a system but to bring a business to a standstill. This is the “misconception of Cyber Security”.
The misconceptions include:
- An anti-virus is sufficient
- The costs are too high
- It will never happen to me
- It only happens in other countries
- A backup is sufficient (a major company in South Africa believed they could recover but did not)
South Africa has become a breeding ground for cyber criminals and all types of criminals. We are naive to think that it will never happen to us. Recent stats and breaches by big corporations and government organisations reveal that the risks are real and on our doorstep. We can no longer ignore the facts. We need to take a stance and protect our valuable assets and business.
The main issue with many cyber security companies is either the excessive complexity or the insufficient attention to the specific needs of different organisations. Not all solutions are suitable for every company, which leads to confusion and increased costs for data protection. Viewing all companies through a single lens and offering uniform solutions overlooks the fact that organisations are diverse and do not fit into the same categories.
Questions we need to consider:
- What is our risk tolerance?
- Can we afford potential disruptions such as a few days without invoicing, communicating with clients, ordering stock or risking damage to our reputation?
- What Regulatory, Governance requirements must our company adhere to?
- Should we be POPIA compliant?
- How will our employees be affected if the business faces a severe crisis?
- Do we need cyber insurance to protect the company in case of a breach? We know from experience that insurance claims can be challenging, with insurers often finding reasons not to pay.
Developing a Cyber security strategy is important no matter the size of the business. It’s crucial to ask the right questions of your service providers and ensure you have the necessary protections in place. This way, you can continue to operate your business even in the event of a breach or compromise.
If you are unsure of your cyber security landscape, ask for assistance from Ukuzimanya. Astutus (Developed by Ukuzimanya) is a solution developed from the ground up, encompassing the best of breed products and services.
We assist small to large organisations and work towards choosing a resilient cyber security plan and oversee the implementation. Our focus is to provide guidance to companies to ensure they are sufficiently protected and compliant.
Our strategy:
- Assess – discover, document and advise
- Implement and protect
- Monitor and Manage
- Evolve
This covers the whole spectrum of security – Infiltration and exfiltration.
Don’t wait until it’s too late and become another statistic. Instead of being reactive, let’s be proactive and start understanding the real threats out there. We need to examine every aspect of our cyber security landscape. The misconception could cost you more than the protection you require.
