July 15, 2022 | By stephen

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4 Cybersecurity Challenges Faced By CEOs Today

• Cybersecurity

A 2021 Insider Data Breach Survey found that 94% of organizations have experienced some variation of an insider data breach. Having the proper cybersecurity protocols in place is important for every business in today’s digitized world. If you’re a CEO, it’s likely that you’ve experienced a serious data breach or know of someone who has.

The main culprit? Human error. But, despite knowing this, most leaders remain more concerned about intentional, malicious behavior instead of things like employee carelessness or ignoring security rules.

While malicious behavior (both internally and externally) is part of the issue, there are definitely other factors to consider. On that note, there are four primary cybersecurity challenges faced by CEOs today.

Lack of employee education

As previously mentioned, human error is the primary cause of data breaches. Why does this happen? Simply put, most employees are under-educated in the cybersecurity space. Breaches are often caused by an unsuspecting employee downloading a malicious file, which introduces malware into their company’s network.

Cybersecurity training is important for organization to implement because it teaches employees how to recognize and protect against cyber-attacks.

Ransomware

It’s imperative for business leaders to have an effective solution for dealing with ransomware. The harsh reality is that most businesses cannot survive a serious ransomware attack, and business leaders’ responses to such attacks generally make matters worse instead of better.

Ransomware attacks are on the rise, and many come from organized criminal groups. As a result, companies have lost millions of dollars paying ransom to groups such as DarkSide, which managed to make out with $90 million in bitcoin payments before shutting down in May of 2021.

Cyber insurance

Too many companies fall into one of the following categories: they have inadequate cyber insurance, or they didn’t know such a policy ever existed. Most companies assume that their existing property damage or related policy covers cybersecurity issues. The reality is that most organizations end up realizing they are responsible for an entire loss from a cyber incursion only after it’s too late.

Budgeting

The pandemic has forced companies to revisit their budgets and make major cuts just to remain afloat. This has led to many citing budgeting concerns as a reason why they cannot maintain adequate cybersecurity protections.

Fortunately, there are affordable options out there that could very well make all the difference in protecting a business from a major attack.

Protecting your data with LeadingIT

The most effective IT providers will address all four of the above challenges. LeadingIT offers affordable cybersecurity packages that offer top-tier security protocols for companies of all sizes. We are equipped with decades of experience and dedicate ample time to helping your employees recognize threats.

To help address external threats, we invite you to take a confidential cybersecurity assessment that will identify ways hackers may try to disrupt your system. This locates inefficiencies and vulnerabilities that you may be overlooking. 8.4 billion credentials are being sold on the dark web right now. Let’s see if yours are and, if so, what steps you can take to address the issue.

LeadingIT offers 24/7, all-inclusive, fast, and friendly technology and cybersecurity support for nonprofits, manufacturers, schools, accounting firms, religious organizations, government, and law offices with 20-200 employees across the Chicagoland area.