Cybersecurity Awareness Month 2024

Every year since 2004, October has been recognized as Cybersecurity Awareness Month, it was designed as a time for businesses and individuals to take time to think about the cybersecurity measures they take and strengthen their digital security. As cyber threats continue to rise, the need to ensure you are protected increases daily. With over 40% of small businesses saying they had been a victim of a cyber attack in 2023 and as the amount that is experiencing these attacks continues to grow, it’s important to take proactive cybersecurity measures to keep your business and employees protected from ransomware attacks, data breaches, and other potential risks all year.

Below are a few recent statistics that we think are important to understand when learning more about Cybersecurity Awareness Month and why it’s important.

Cybercrime costs are rising: The global financial toll from cybercrime is expected to hit $9.5 trillion in 2024, with projections of reaching $10.5 trillion annually by 2025. This is a significant rise and shows the increasing frequency and sophistication of cyberattacks.

Data breaches are expensive: In 2023, the average cost of a data breach was $4.45 million, with the U.S. reporting the highest average at $5.09 million per incident. These breaches harm finances, and just one data breach can damage trust and brand reputation.

Ransomware attacks are increasing: You hear in the news almost daily that a business was hit with a ransomware attack, but how many organizations are affected? Well, in 2023, over 72.7% of organizations were affected by ransomware, and even if they paid the ransom demand, only 8% of companies that paid the ransom recovered all their data.

The above statistics show why it’s essential for an organization to take cybersecurity seriously and take the time to truly learn how to keep your organization protected this month and for every month of the year.

1. Implement Multi-Factor Authentication (MFA)

The first thing you can do to stay protected is implement MFA. In 2024, passwords alone aren’t enough to fend off cybercriminals. With MFA, you add another layer of protection. When you use MFA, you make it so that instead of just needing a password, you have to confirm you are the account owner through multiple methods, such as verifying through a code sent as a text message to your phone. When you implement MFA at your business it ensures that even if a password is compromised, unauthorized access becomes much more challenging. At Workplace IT Management, we recommend the Microsoft Authenticator app.

2. Keep Software and Systems Up to Date

One of the most common and easiest ways to be breached by a malicious actor is through outdated software. It’s important to regularly update the applications that you use. Regular updates include security patches that address vulnerabilities in your current software that you may not even be aware of. If you aren’t sure what you need to do to keep your business software up to date, contact our team today, and we can get you to a point where your business is protected.

3. Train Employees on Cybersecurity Best Practices

Cybersecurity is more than just the IT person’s job, and just because you may think you use software that isn’t vulnerable doesn’t mean you can’t be the cause of a data breach. Keeping your business protected from cyber threats is everyone’s job. There are a lot of ways to train employees on cybersecurity best practices. You can train your employees to recognize phishing emails, how to avoid suspicious links, and data protection best practices. KnowBe4 is a program that we work with, and it helps teach your employees best practices so you don’t have to.

4. Backup Your Data Regularly

Data loss is a significant problem when it comes to cyber-attacks. A lot of cyber attacks happen because a malicious actor is trying to attack your systems to gain access to data that may be valuable. Regular backups of your systems are important for a quick recovery in case of an incident. Additionally, employees should try to save all their files to the business shared drives so that even if a computer goes down, all the data that an employee was working on isn’t lost.

5. Monitor and Secure Access Points

With many businesses adopting remote or hybrid work policies, securing access to your network is more important than ever. It’s important to use tools like firewalls, VPNs, and encryption solutions when your employees work from home to protect company data and monitor for unusual activity.

Why Cybersecurity Awareness Matters

Even one data breach can damage your company’s reputation and customer trust and even cost your business a lot of money through lost production and sales. Cyber threats are becoming more sophisticated, and with the advances in AI, they are even more dangerous, and any business can be a target. That’s why at Workplace IT Management, we believe in taking the time to make sure that companies are protected from cyber threats, and even if you aren’t a client of ours, you can learn more about ways to keep yourself and your business protected. By applying the tips we laid out above, you can avoid the consequences of a cyber attack and ensure your business runs smoothly all year.

Take Action This Cybersecurity Awareness Month

Be proactive this month and all year and work to increase your cyber security protection before a cyberattack occurs. Follow the tips we laid out above to start your path to being more protected this Cybersecurity Awareness Month. If you would like to know more about keeping your business protected, reach out to Workplace IT Management today. We’ll keep you cyber-safe this October and all year around.