Myth #1 | Hackers only target large corporations

No one is safe from cybercrime, regardless of the size of your organization. In a finding published in the Verizon 2017 Data Breach Investigations Report, investigators found that 61% of the data breach victims in the report (YTD) are business with under 1,000 employees. Small and medium sized businesses ten to spend less on cybersecurity, believing they are not at risk because of their size, ultimately making them an easy target. In 2016 the Global Application & Network Security Report stated, of the companies that reported cyberattacks, 31% were companies that had less than 250 employees.

Myth #2 | Having a strong firewall and network security is enough

Network security and application security are two different beasts and overall network security might not be the problem. According to a survey published by F5 Networks, 57% of cyberthreats come from an application. IT budgets typically focus on network security and put application security on the backburner.

Myth #3 | Cybersecurity resources are too expensive

If you’re a small business, you might not feel like you’re in a financial position to invest in cybersecurity. Not making cybersecurity a top priority within your organization can put your business at risk and cost you more down the line. The cost implications of a breach include, but aren’t limited to, loss of business due to reputational damage, legal fees, and loss of competitive edge.