Did you know that 43% of cyberattacks aim to exploit small businesses (SMBs)? The majority of SMBs are not prepared for these types of issues and may be vulnerable to cyberattacks if their systems have security gaps.
The key ways to handle these issues, though, are to know which security gaps are the most common and understand how an SMB can fix them. In this article, our managed IT services company will address these issues in great depth so that your SMB is prepared for the risks.
Security Gap #1: Weak Access Controls
If your company has weak access controls, it might be vulnerable to cyberattacks. A few of the weak access control issues to think about include the following examples:
Having too many users with admin privileges – There are a few admin roles that you could assign to your members, but it’s ideal to have no more than 10 admin users across Enterprise, Domain, and Administrator levels. This is because such accounts might become an entry point for cyberattackers, and this could give them access to every account’s sensitive information.
Lacking multi-factor authentication (MFA) – If you don’t have MFA, your accounts are more vulnerable to cyberattacks since they have fewer layers of security. This means that if they guess your password, cybercriminals have everything they need to access your accounts and your data.
Shared passwords – Since shared passwords create several vulnerabilities from multiple entry points, cybercriminals can exploit several systems and data at once if a password is compromised. This can mean that any user who has the same password may be at risk of data loss.
The Fix
Yet by implementing role-based access controls (RBAC), you can handle such weak access control issues. This process restricts access to the level required for the user’s specific role.
For instance, in IT systems, network admins can easily manage firewalls with a specific RBAC, while database managers can manage databases with the right access controls. You can implement RBAC by defining the roles and responsibilities and assigning permissions for each role (such as read, write, and execute) through an application programming interface.
Then, you will need to enforce multi-factor authentication across all of your critical systems. You can do this with cloud-based MFA options such as Microsoft Entra ID or other third-party MFA solutions. Implementing MFA means that any individuals aiming to access business accounts must enter multiple credentials. It helps to protect the accounts from unauthorized access, as there are fewer chances that an individual will know every credential needed to enter the system.
Finally, using password managers can help keep passwords secure. They can generate strong passwords that are not easy to guess, and store each password securely so that cybercriminals cannot access them.
Security Gap #2: Lack of Frequent Security Training
There’s a chance that employees and their companies can become victims of phishing attacks through email accounts if they lack the right security training. They could also download malware by mistake or, when working remotely, use insecure networks that make their systems vulnerable.
The Fix
It’s always important to ensure employees have the right security awareness training. This should occur at least every year, but the best results come when you offer quarterly security awareness training, as the information will remain fresh in each employee’s mind.
The training should include simulated phishing tests, in which your organization should send fake phishing emails that look real to your employees. This becomes a test of your employees’ awareness of phishing attempts and helps you determine whether they require more training about phishing cyberattacks.
You should additionally develop clear information technology policies that employees need to adhere to in your SMB. For instance, incident response plans and data protection policies need to be in place, as these will ensure employees know how to respond to a security breach and understand how to protect employee and client data.
The security incident response plan might include methods to contain and eradicate the threat, while data protection policies may include information on encryption and access control.
Security Gap #3: Outdated Software and Systems
If your SMB has outdated software and systems, it could be vulnerable to attacks. Specific examples of outdated software and systems include operating systems and software that are unpatched. And they are vulnerable because they tend to lack the most up-to-date security upgrades, meaning cybercriminals can easily exploit them.
The Fix
A few fixes can improve this issue. For example, a patch management policy that explains how your SMB deploys and manages security patches can keep your software and systems secure. This type of policy outlines what needs to be patched and approaches for testing the patches to ensure there are no compatibility issues. It should also include timely patch deployment.
Regular upgrades are also vital in this context. You’ll need to use a patch management tool to ensure you stick to the right schedule and plan the upgrades accordingly. One patch management tool you might use is Azure Update Manager, but many others are available, such as ManageEngine’s Patch Manager Plus.
You might even want to consider a real-time remote monitoring and management (RMM) or managed endpoint security tool. While RMM tools help with automated patching and threat detection, endpoint security tools enhance the security of all endpoints in a specific network – they work to minimize security risks and keep systems protected.
Security Gap #4: Inadequate Backup and Recovery Planning
Some risks to watch out for include ransomware attacks and server crashes. These are quite severe incidents that could leave you without access to systems and critical data. In fact, they can wipe out your sensitive data entirely, meaning your SMB will have no way to recover.
Ransomware attacks happen when cyber criminals encrypt your files and demand a ransom payment to restore access to them. Server crashes can happen when cyberattacks like these overload the server.
The Fix
To handle these issues, you’ll need to complete regular, automated backups. For example, if you store data offsite or in the cloud, a ransomware attack will not have the same effect since you will still have access to the critical data.
If you additionally test the recovery processes frequently, you’ll be able to validate their effectiveness. As a best practice, it’s best to test recovery processes at least once a year. If you alter your recovery tactics, you should complete a test after the modification, as this will help you confirm their effectiveness.
Security Gap #5: No Centralized Security Strategy or Roadmap
If your business uses a reactive approach to handle system security, your delayed responses can lead to more extensive damage. It gives cybercriminals more time to launch and execute a cyberattack, especially since some attacks may be automated. And since it can take just minutes for some cybercriminals to access data and systems, a lack of centralized security strategies could significantly compromise these elements.
The Fix
When you’re unsure how to use a proactive method to handle security for your IT systems, it’s ideal to partner with an IT Managed Service Provider (MSP). MSPs can help you develop a tailored roadmap for your security, offer managed cybersecurity services, assist with IT risk management, and align any security measures with your business operations.
An MSP will also complete risk assessments periodically, which can keep you informed about any security gaps your company may experience. Such actions are ideal because, as cyberattacks become more sophisticated, your company needs to remain vigilant and aware of any security vulnerabilities.
How a MSP Helps SMBs Close Security Gaps
If you’re in need of support to close security gaps, MSPs can make a real difference. Not only do they offer the expertise of cybersecurity specialists and minimize the need for a costly in-house professional, but, as mentioned, they also complete proactive monitoring of your systems. For instance, they will monitor systems for threats and vulnerabilities 24/7.
An MSP can also ensure your business handles data in a way that aligns with regulatory compliance best practices. It will ensure you adhere to the PIPEDA and GDPR regulations, which state that employee and client data must be protected from security breaches.
Beyond these advantages, you will also find that MSPs will help you create a roadmap for security that is scalable and grows as your company grows.
Close Security Gaps with the Support of Tech Masters
Even though your SMB doesn’t require a large budget to implement enterprise-level security, it will need to be aware of security threats, partner with the right experts, plan ahead, and implement the right fixes to adhere to regulations.
Need to know if your system is vulnerable and where the vulnerabilities lie? Tech Masters can help. We know how to prevent data breaches and will ensure your systems remain resistant to cyber threats. Contact Tech Masters today. Get your free security gap assessment with our experts by booking your consultation with us.
