Common Network Security Risks: Key Vulnerabilities to Address

If you're among the 66% of business leaders increasingly concerned about cyberattacks in 2023, it's crucial to take action to protect your organization. While managed services providers (MSPs) can deploy effective cybersecurity solutions, there are common network vulnerabilities that often go unnoticed. Addressing these vulnerabilities can provide immediate protection while deeper cybersecurity assessments are conducted by your technology partner.

1. Lack of Multifactor Authentication (MFA)
Multifactor authentication (MFA) is a critical cybersecurity measure. While strong passwords are essential, MFA adds an extra layer of security by requiring users to verify their identity using a secondary device like a smartphone. Without MFA, your network may be vulnerable to cyberattacks, as hackers frequently target weak passwords. Implementing MFA is a necessary layer of protection, not an optional one (plus, it's often an inexpensive step to start with.)

2. Obsolete Technology
Outdated software and hardware in your network create opportunities for hackers to exploit vulnerabilities. As technology reaches the end of its lifecycle, vendors cease support and security updates. Identifying and removing obsolete technology is crucial, especially if you're pursuing cyber insurance, as insurers often inquire about security risks associated with outdated products and devices.

3. Neglecting Patching
Regular and aggressive patching is a cost-effective cybersecurity practice that every organization should prioritize. Failure to install available patches can leave your network vulnerable. According to a Ponemon Institute report, many cyberattacks could have been prevented by timely patch installation. Frequent application patching is essential to protect against cyberattacks and should be a part of your cybersecurity policy.

4. Cloud Security Gaps
The 2022 threat report from cybersecurity vendor Arctic Wolf revealed that more than 47% of threats involved a compromised cloud component. Many organizations discover the hard way that they have an active cloud security gap within their infrastructure. That means valuating cloud solutions for security vulnerabilities is crucial. Consider cloud solution-specific security vulnerability assessments, including penetration testing and ethical hacking, to protect against costly data breaches.

5. Employee Training and Awareness
Phishing emails take home the honors for 91% of cyberattacks, making employees the first line of defense as well as a potential network vulnerability. Implementing a cybersecurity awareness program and scheduling regular training for your team is essential. Educating employees about social engineering and phishing threats while also providing regular reminders about cybersecurity best practices can significantly improve your organization's security stance. As hard as it is, you can't overlook the vulnerabilities found under your own roof: Uninformed employees can be a huge risk. 

Addressing These Vulnerabilities

While these vulnerabilities are relatively easy to address, some businesses may require professional support to eliminate them and other common security risks. Partnering with an experienced managed services provider can help, but it's crucial to evaluate their understanding of cybersecurity threats and vulnerabilities before signing on the dotted line. Review their capacity for assessing, designing or improving, and maintaining sophisticated cybersecurity solutions. As cyber threats evolve, it's essential to adapt your cybersecurity strategy, starting with addressing these often-overlooked network vulnerabilities.