Cyber security has come a long way to deal with the continually changing digital sphere, but businesses that fall behind the curve can face some serious financial consequences. With just one mistake from one employee, an entire business can compromise important confidential information as well as the information of its customers, and as a result, its reputation. With this in mind, businesses must look to cyber security employee training to try and close the gaps in their digital defense.

Cyber Security Employee Training and the Impact of Cyber Crime

According to research from Accenture and Ponemon Institute, financial damage from cyber crime continues to grow despite businesses spending more on cyber security and cyber security jobs than ever. In the last year, the biggest increases in financial damage were through people-based attacks, with malware being the greatest rising threat. These same reports estimate upwards of $5.2 trillion in damages over the next five years from cyber crime, increasing year to year.

And don’t think this only affects the biggest businesses. According to Verizon, 43 percent of cyber attacks target small businesses, who are often under-protected, presenting easier access.

With this in mind, it’s hard to overstate the benefits of cyber security training for employees.

It Only Takes One Mistake

When people think of cyber crime, undoubtedly the first incidents that come to mind are the biggest breaches where personal data from millions of customers is compromised. But the reality is that cyber criminals do much of their overall damage by targeting small businesses, often only needing to create one mistake from one employee to succeed. And only so much can be done by minimizing employee digital access.

With a year-to-year increase of malware and other personal methods of attack, current cyber security training for employees is an absolute necessity to minimize potential entry points. Training should include protection of work-issued equipment, personal email accounts, and personal devices, as these are all potential doors for cyber criminals. The best way to strengthen cyber security is to impart a quality understanding of cyber security training topics to all employees with significant digital access.

Cyber Crime Is Always Evolving; Cyber Security Employee Training Must Keep Pace

Despite businesses spending more than ever on cyber security, cyber crime is still poised to do record amounts of financial damage in the coming years. This is because more businesses entering the digital world equals more targets for cyber criminals. Beyond having more fish in the pond, cyber criminals also perpetually adapt and improve their methods to better defeat businesses of all shapes and sizes, which means maintaining up-to-date security standards is vital.

In 2019, cyber criminals found much of their success in person-based attacks, successfully targeting employees with a weaker understanding of—or even an apathetic attitude toward—cyber security. This is only one of the many ways cyber crime has adapted to better attack the business community at large, and while businesses can now identify trends and adjust for them, it just means we’re perpetually one step behind evolving methods of attack.

By regularly educating personnel on current cyber security training topics and best practices, businesses can best position themselves to fight the evolving landscape of digital threats.

Cyber Crime Has Never Been More Dangerous

It may surprise some that cyber attacks are doing more financial damage each year. But what is surprising is that along with an overall increase in financial damage, there’s also a steady uptick in how much damage is done per incident. Customers are becoming more accustomed to providing their personal data in a digital space, and cyber criminals are exploiting that comfort.

The average cost of a cyber attack in 2017 was $11.7 million, according to Accenture’s report. That number jumped to $13 million in 2018, and is expected to continue to rise, maintaining this exponential trend. In fact, the average cost of a cyber attack has increased by 72 percent in the last five years.

With more risk than ever possible from just one lapse in judgment, cyber security training for employees is a must for any business looking to protect its customers, reputation, and data.

Cyber Security Employee Training Is Vital for Data and Systems Protection

While it may seem impossible to stop cyber crime, regularly training employees in best practices for cyber security presents the best chance for businesses of all kinds to fight back against attackers. Cyber security training topics should be tailored to the most recent and high-risk threats, but businesses should also include regular reminders of basic best practices, such as password guidelines and the use of multifactor authentication.

Businesses interested in stepping up cyber security training for employees can reach out to an expert in the field or identify reputable cyber security employee training options, like online or traditional courses. Whatever route you pursue, be sure the training or materials are provided by competent IT security experts who know the threat landscape and can impart the benefits of cyber security training to industry standards.