Bad password management remains one of the leading causes of cyberattacks on business – ever since computer technology underpinned our working environments, the door has always been open for cyber criminals. Today that opportunity for cyber criminals has increased dramatically with the threats becoming more severe.
Many employees will rely on weak passwords or use the same password over multiple accounts, leaving them – and your business vulnerable to attack. Various reports suggest that over 80% of all data breaches are caused through compromised passwords – the consequences of which range from corruption of files and data, financial loss, legal repercussions or reputation damage.
If your business is not adopting a password strategy then you are creating more opportunity for the cyber criminals, making your networks and sensitive data more exposed.
Your company may be at risk!
See how with our FREE Security Audit
What are the main threats from poor passwords?
The impact of a poor password policy on a business can be severe. Here are some of the ways a weak password policy can impact a company:
Data Breaches: A weak password policy can lead to data breaches, allowing cybercriminals to access confidential information. This can result in significant financial losses and damage to a company’s reputation.
Unauthorised Access: Weak passwords can be easily guessed, enabling unauthorised access to company resources. This can result in the theft of sensitive information, such as intellectual property and financial information.
Compliance Issues: Many industries have regulations in place regarding data security. A weak password policy can lead to non-compliance, resulting in fines and legal action.
The aftermath of a breach due to a poor password can threaten the existence of a business – stolen customer data, financial data, destroyed files all have an obvious impact on a business in the short term, but over the longer term reputational damage can become a factor where customers no longer feel safe working with your organisation. Sometimes the far-reaching consequences can be more detrimental.
How can you improve your password policy?
Enforce Password Complexity Rules
Implement Two-Factor Authentication
Educate Employees on Cybersecurity Best Practices
Regularly Change Passwords
LoughTec currently provides cyber support to a number of businesses and organisations in a variety of industries throughout Northern Ireland and the Republic of Ireland. We support enterprise scale organisations with £500m turnover and small companies with a more regional focus, all through the implementation of our LoughTec Security Operations Centre (SOC)
Security Operations Centre
How the LoughTec SOC can protect your business?
The LoughTec SOC is responsible for detecting, analysing and responding to security incidents in real time delivered through software, technology and (human) security analysts. In addition to 24/7 monitoring and management, the SOC helps organisations maintain
security policies and procedures, deliver training and provides regular reports on our customers security posture.
Here’s how it works:
No obligation, no cost initial consultation to review your current security protocols, enhanced potential requirements and your main concerns.
Deploy the LoughTec System Security Scan for a deep dive on your current cyber posture as well as your threat risk score and analysis.
Review all findings and create our joint cyber security action plan to mitigate the potential risks.
Implement the required tailored cyber improvement plan and resolution actions for your business.
Ongoing LoughTec account management updates with additional training and support tools and plans available.
Remember cyber threat is a real and constant – there is a good chance that you have already been hacked. If not yet, you definitely will be. It’s important to know that your network is being monitored 24/7/365 – just like you would for your property or plant.
Cyber protection is an investment, not an expense – the LoughTec SOC can protect your most valuable business assets from as little as from as little as £4/day.
For more information and to book a free no-obligation consultation email
Get in Touch with Loughtec Cyber Security
Customer Success Stories
Don’t just take our word for it
“The deployment process was quick and seamless, and was completed across all our endpoints in a couple of days. The reporting from the SOC is essential for us. It gives us a demonstration of its value for money. We can show our directors and management, ‘these are the types of attacks that have happened or attempted to happen, and this is how the system is paying for itself.’
What price can you put on the loss of your data or your business being down for a significant amount of time?”
Brian McCabe, Global IT Manager
“Our business was the victim of two hacking incidents – one in which our IP address was ransomed and we were invited to pay in Bitcoin to release it. The other was an email spoofing incident, where one of our clients was contacted by an unknown source claiming to be us.
“I would strongly suggest an IT security audit, as a minimum starting point for any business. It gives results and advice on things that you would not ordinarily consider in terms of your cyber security.
“The LoughTec Security Operations Centre (SOC) helps protect our IT infrastructure, protecting our business and our data.”
Yvonne Conway, Project Manager
“LoughTec is one of the leading Cyber Security systems providers worldwide and our research highlighted that they provide one of the most advanced file upload malware protection and detection solutions.
This partnership with LoughTec gives us the confidence and assurance that every file system uploaded through our platform is malware and virus free, allowing us to focus on our core business of selling property.”
Ebenezer Akintunde, Software Delivery Manager