Top Cyber Security Risks in a Company!

Cyber Security is defining itself by its name. In an organisation security of their digital information and data is must important for growth. This is the reason why cyber security experts are in demand everywhere. To prevent the company from Cyber Attacks and to protect the data of company, they have teams of cyber experts. In this article we will discuss some cyber security risks, which are most important to be manage by risk management.

1.Laziness in Covering Cyber Security Basics: It is the biggest risk for a company if they are not covering the basic cyber security requirements. Under this risk we can say that there is need to update all the softwares and applications used by company if a new version is available for them. Every software which is not up to date is not a secure software. Company should also check his security essentials as per past records. For example if company have face any Cyber Attack, they need to know why it was happened and how we can save our self in future from this.

2.Lack of Risk Understanding Power: If a company is not understanding their weaknesses, it is a big risk for company which could become a reason of thier failure. If company is not understanding which information could be steal by cyber criminals and how, then it is not a good sign for Company. Cyber Attacks are not obvious, but company could categorize the Cyber Attacks in their own form, according to their business strategies. There is not the technology only which brings cyber risks, sociological and psychological aspects are also responsible for it.

3.Improper Cyber Security Policies: At this time every company requires security policies. This is not limited only for technology and finance companies. Cyber Criminals can do attack on companies of any field. Due to this reason 60 % CEOs of worldwide companies are worried about their company’s cyber security policies. Here are some tips for the companies to improve their security policies:

First of all do research on the risks related to cyber security.

Prepare a well experienced cyber security governance.

Be smart with the security of networks and information of company.

Prepare different policies and procedures for different risks.

Make yourself able to identify the unauthorized activities in network.

Prepare proper privacy policies and internal policies for a better CRM (Customer Relationship Management).

4.Compliance with Cyber Security is Confusing: Sometimes company rules do not match with compliance of cyber security. In this case company rules will be differ from Cyber Security Compliance which will tell how to protect the company from hackers. ISMS (information Security Management System) is a must for every company, which will prepare new policies and procedures to protect confidential data of company. According to study of experts, 40% companies are not fully sure about their security methods that are they able to prevent cyber risk.

5.Risk regarding Human Factor: Human factor also plays a vital role in company’s Risk Management Approach. Less technological minds are a big reason behind cyber security risk of any company. Employees of company can do following things which could create risks for the company:

Employees (Former/ Current) can use social engineering, Remote access and other techniques to tamper information.

To get revenge, financial gain and to make fun.

To reduce these risks, treat your employees in a good manner. According to Stephen R. Covey,” Always treat your employees exactly as you want them to treat your best customers.”

6.Lack of Information Security Training: It is the responsibility of the company to make aware his employees for information security and cyber security. This is the reason at this stage of technology companies are increasing funds for training of employees. 50 percent companies are taking this training as a priority. Companies can hire Cyber Security experts and can contact cyber security companies to organise training for thier employees. This training will make all the employees able to understand unwanted and suspicious activities in their computers and networks. If employees of any company are not aware about this, then company is at big risk.