Page 182 - Cyber Defense eMagazine September 2023

navigation error sending the climate orbiter to its demise, burning up in the Martian atmosphere. The
result? A loss of nearly 200 million dollars and red faces all around.

The reality: Despite having the most effective cybersecurity measures implemented, a simple human
error can lead to significant financial losses, interruptions in business operations, and harm to the
organization's reputation.

The Weakest Link

Companies become confident and ready to take on the threat of cyberattacks after implementing the
newest and most advanced solutions in cyber risk management. Most businesses eagerly invest in the
best security products, hire external monitoring support for their internal teams, and implement proactive
strategies for preventing and mitigating cyberattacks. Money spent, new technology employed, defenses
at the ready – you’re prepared. And then, a targeted C-level executive mistakenly clicks on a phish - cue
data breach, assets are at risk, and sensitive client information is compromised. This cyberattack was
100% preventable.

A joint study by Stanford University Professor Jeff Hancock and security firm Tessian, found that a
staggering 88% of data breaches result from employee mistakes. IBM Security's research reports an
even higher figure at 95%. So, you've secured your house, purchased the strongest locks, and installed
the most advanced home security system…and then someone leaves a window open.

An understanding of cyber risk awareness is just as vital to the maturity of your program as having the
right products in your cyber toolset or implementing a proactive plan. Integrating all these essential
components is what makes your company fully prepared to tackle cyber threats, but recognizing the
importance of security awareness is also crucial to prevent costly errors.

The WHY and HOW

Understanding how employees can inadvertently cause a hole in your security is vital to protect your
business. Mistakes are made at ALL levels and across ALL departments due to insufficient cyber risk
awareness training, distraction, burnout, or even complacency. Some of the worst breaches occur from
a simple lack of knowledge.

Ask yourself: Do your employees casually open emails on their phones, oblivious to the telltale signs of
a phish? Are they click happy just clicking links and downloading files without regard for the source? Do
they reuse the same password across multiple accounts? Is their professional device automatically
connecting to an unsecured Wifi? More importantly, do they even realize that these actions make them
vulnerable?

Cyber Defense eMagazine – September 2023 Edition 182
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