The COVID-19 pandemic accelerated our transition into a fully-digital business world. Businesses from all scales and spectrum are quickly adapting to the demands of a fully-digital society. Also, along with this transition, the demand for better cybersecurity measures also increases.

However, despite all the efforts, the number of cyber attacks doesn’t seem to diminish, instead, the numbers keep on rising. Small, medium, and even larger businesses suffer great losses from cyberattacks. But why is that? Is it because the measures we employ are insufficient? Maybe we just don’t have the latest tech?

Though the above questions are factors, there’s a huge problem that technology might never be able to address – wrong mindset. In a post in Threatpost.com, they identify several pitfalls (mostly mind setting problems) in which businesses fall into in terms of cybersecurity.

Before we identify some of these pitfalls, we have to understand that these pitfalls usually affect SMBs or Small-Medium businesses. These are businesses with around 100 employees or less.

The probability of being targeted

Large businesses are regular targets of cyberattacks. The bigger the firm, the bigger returns the attackers could get. However, large businesses tend to put heavy investment and cybersecurity ad data privacy. Apart from compliance requirements, they quite understood that they are the most likely targets.

However, it’s different for SMBs. Some SMBs suffer great losses from cyberattacks because they think that they are unlikely targets. They think that their business is too small for cyberattackers to target. This kind of mindset is worse than not having any security measure. Complacency and leniency can ruin a business.

Security ignorance

Though not all, some SMBs suffer from ignorance when it comes to cybersecurity. For most people, cybersecurity is just about having the right anti malware or security protocols. However, some fail to understand that security depends on what kind of business you run. It is important that every business understands which area or asset of their business are vulnerable and are most likely to be targeted by attackers.

Failing to Backup

For the past years, ransomware became the most profitable strategy for attackers and the easiest and one of the most effective measures against ransomware is simply backing up all your data. Most ransomware victims are forced to pay the ransom due to their failure to properly backup their data.

Lack of budget/investment to cybersecurity

Unfortunately, most SMBs, probably due to their limited resources, fail to invest enough for good cybersecurity. When it comes to financing, the budget for security is what’s most likely to be cut for these firms.

The above mentioned pitfalls are just a few but these give us a good glimpse of the problem. Unless we change the way we think about security, businesses will keep losing money from these attacks.