You can’t run a business without employees but wow! – those employees sometimes make it hard to run a business properly! In fact, experts suggest that nearly 65% of data breaches are caused by employee error or negligence. Hackers know that too, which is why phishing and spear phishing attacks are so popular.
Another vulnerability that your employees bring to the organization lies in their password practices. Most of your employees probably use the same password/username combination for a few different applications and services, and they also probably rely on a few easy-to-guess passwords, like the ever-prevalent “Password1”.
Take a second to think about your own password habits. Do you have completely unique, randomly generated passwords for every program and device you use? Have you memorized all your passwords, so you don’t have to write them down somewhere? Do you change all of your passwords every 60 days or so?
Didn’t think so.
Unless you’re working for the NSA, you probably have a few bad password habits yourself. (In fact, recent studies show that even many IT security professionals have bad password habits – so perhaps your passwords would be just as vulnerable if you were working at the NSA!)
When you add your bad password habits to the bad habits all your employees have, and then you multiply your risk of attack by the number of total passwords each staff member must use on a regular basis — and then you add in that statistic I mentioned earlier about employee error or negligence…
Well, you can see why employees are such a big danger to your overall data security.
This is why savvy companies understand that they must follow best practices and use effective tools to ensure that their Oracle security stays effective.
The High Cost of Ineffective Security
Cloud security is more important than you realize.
The cloud, by its very nature of anywhere / anytime access, compounds the problem of data security because the freedom of the cloud naturally limits your perimeter efficacy. If a hacker gets access to employee login credentials, he or she can use those credentials to access your sensitive company data secretly from anywhere in the world. Most of the time your IT staff won’t even know they were breached.
Data Breaches Cost Millions
Data breaches aren’t just an embarrassment, they’re also extremely costly. According to studies, the average breach costs a company $3.62 million, including data recovery, forensic investigation, legal fees, reputation damage, and, of course, the labor time it takes to replace the data you’ve lost. That’s not even taking into account the fact that if your data is stolen in a corporate espionage attack, you may have lost critical intellectual property.
Plus, now that GDPR has come into effect, companies that conduct business with EU citizens could face fines of up to 20 million euros or 4% of worldwide turnover (whichever is greater) if they experience a data breach.
Read the next article from Centroid to learn how you can ensure that your Oracle security stays solid and highly effective.
Want help setting up your secure cloud solution for Oracle Cloud? Contact the Oracle security experts at Centroid so you can get started.