4 Signs Your Network Needs A Cybersecurity Risk Assessment

This post will show 4 signs your network needs a cybersecurity risk assessment.

Technology continues to bring a plethora of benefits to businesses. By maximizing the right technological solutions, businesses can have better staff collaboration and coordination, offer excellent customer service, and experience financial savings. 

However, technology is a double-edged sword since many businesses also suffer from the impact of cyberattacks. Statistics show that companies lose $200,000 on average due to cyber attacks. Sadly, not all of these businesses recovered from the attack.

If your business relies on technology, investing in a cybersecurity risk assessment is best, which you can learn more here. This assessment can protect your network from cyberattacks, increasing your business’s chances to succeed in the industry.

What Is A Cybersecurity Risk Assessment?

A cybersecurity risk assessment works as an annual wellness check-up for your network. This assessment aims to identify and diagnose potential risks to prevent cyber attacks. 

A cybersecurity risk assessment generally helps detect threats and vulnerabilities in your device, network, software, and system.

The findings you can get from the assessment make it easier for your business to create appropriate courses of action to respond to and manage risks. 

What Are The Signs That Your Network Needs A Cybersecurity Risk Assessment?

As technology brings countless benefits to the business landscape, remember that hackers have become more competent in stealing data. Today, hackers use artificial intelligence (AI) and open-source tools to gain unauthorized network access. 

If your business is guilty of at least any of the signs below, it’s high time that you invest in a cybersecurity risk assessment as soon as possible:

1. You Feel That Something Is Off

Suppose you report to the office one day and immediately feel something is off. You notice that your computer starts behaving oddly, and several strange files are in your network.

If you’ve been in this situation countless times, it’s a sign to conduct a cybersecurity risk assessment right away. Feeling something peculiar is often your intuition telling you that your network has been compromised somehow. 

2. Your Workforce Isn’t Tech Savvy

Your employees are the lifeblood of the business, but they can also become the reason why your efforts to secure your network will go down the drain. It’ll be challenging for your business to remain safe from cyberattacks if your employees open the door to hackers. 

Most employees don’t have the intent to make the company vulnerable to cyberattacks. Often, they practice poor habits, not knowing that these will make it easier for hackers to enter the network. For example, your employees might secure their accounts with a 12345 password or immediately click on popup ads telling them that someone sent them millions. 

Having employees that aren’t tech-savvy is a sign to conduct a cybersecurity risk assessment. As mentioned, this assessment will identify loopholes in your network, which might have been caused by your employees, to ensure that your business’s information remains secure. 

3. Inactive Employees Have Access To Your Network

Not every business implements a straightforward process for handling inactive employees’ network access. Often, the management will be so occupied looking for replacements that they don’t heed whether inactive employees still have access to the network. 

If your inactive employees can still access and use the company’s apps and software, it’s a sign to conduct a cybersecurity risk assessment ASAP. Not every employee leaves on good terms, and their frustration with the company might trigger them to conduct cyberattacks. Inactive employees won’t have problems achieving that goal if they still have access to the network. 

4. Your Business Doesn’t Know What Data Control Policies Are

As your business becomes more reliant on technology, the number of entry points for cyberattacks increases. For example, your employees might use USB drives containing your business’s data for personal use, and company laptops might be stolen or misplaced. 

Data control policies aim to restrict the transfer of sensitive files, reducing the risk of accidental data loss. By implementing data control policies, data is controlled and monitored, flaws are identified early, and root causes of security breaches are mediated. 

A business that doesn’t have a robust data control policy needs a cybersecurity risk assessment. Without any policies to control how data is managed and transferred, it’ll be challenging to determine the vulnerability of your business to cyberattacks. 

READ ALSO: How To Prepare For A Cyber Assessment

Is Your Network Vulnerable? Unveiling the Signs You Need a Cybersecurity Risk Assessment (FAQs)

Cybersecurity threats are constantly evolving, and it's crucial to safeguard your network proactively. A cybersecurity risk assessment can be vital in identifying vulnerabilities and shoring up your defences.

Here are some FAQs to help you understand when your network might need this type of assessment:

Why would a network need a risk assessment?

A network risk assessment is like a security checkup for your network. It identifies weaknesses, potential threats, and areas where your defences might be lacking. This allows you to prioritize security measures and invest resources effectively.

What are some signs my network needs a risk assessment?

Here are some red flags that might indicate your network is overdue for a cybersecurity risk assessment:

• You haven't conducted a risk assessment in a while (or ever): Security threats and landscapes change rapidly. Regular assessments (at least annually) are recommended.
• You've recently added new devices or applications: Changes to your network can introduce new vulnerabilities. An assessment can identify any security gaps.
• You've experienced security incidents: Past breaches or attacks highlight the need to identify and address underlying weaknesses.
• You're unsure of your network's security posture: A lack of clarity about security measures is a significant risk factor.
• You're implementing new technologies or expanding your network: Scaling your network complexity necessitates a reevaluation of your security posture.
• Compliance regulations require it: Certain industries have regulations mandating periodic security risk assessments.

What happens during a cybersecurity risk assessment?

A cybersecurity risk assessment typically involves several steps:

1. Planning and Scoping: Defining the goals, scope, and methodology for the assessment.
2. Asset Identification: Identifying and classifying all your network devices, applications, and data.
3. Threat Identification: Recognizing potential threats and vulnerabilities your network faces.
4. Vulnerability Assessment: Identifying specific weaknesses in your systems and configurations.
5. Risk Analysis: Evaluating the likelihood and potential impact of identified vulnerabilities.
6. Reporting: Presenting the findings, risks, and recommendations for mitigation strategies.

How can I conduct a network risk assessment?

There are three main options for conducting a network risk assessment:

1. Do-It-Yourself (DIY): This requires significant technical expertise and resources. Free online tools and guides can offer some assistance.
2. Hire a Managed Security Service Provider (MSSP): MSSPs offer security expertise and can conduct assessments as part of their services.
3. Engage a Cybersecurity Consultant: Security consultants specialize in risk assessments and can provide a tailored approach to your specific needs.

Wrapping Up – Regularly Perform Cybersecurity Risk Assessment

A cybersecurity risk assessment can make or break the success of your business, especially in today’s tech-driven business landscape. The money you’ve spent investing in various apps and software will be useless if these only serve as platforms for hackers to steal from your business.

To minimize your business’s cyberattack risks, regularly hire professionals with the experience and tools to perform a cybersecurity risk assessment. This service will go a long way in ensuring your business is safe from all cyberattacks!

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About the Author:

Daniel Segun

Owner at TechSegun LLC. | Website | + posts

Daniel Segun is the Founder and CEO of SecureBlitz Cybersecurity Media, with a background in Computer Science and Digital Marketing. When not writing, he's probably busy designing graphics or developing websites.

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