More companies are implementing Bring Your Own Device policies for employees. A BYOD policy allows employees to use their personal devices for professional business.
Many employees are working from home, now more than ever. It's easier for employees to use their own devices at home or when they're on the go.
It also reduces the risk of company property being lost, stolen, or damaged by employees using it outside the office. Plus it saves the company money on upgrading existing technology.
However, BYOD policies can expose your company to serious security threats. Keep reading to learn about BYOD risks so you can protect your company.
BYOD Security Threats
Data breaches are becoming more common-place and more costly. In fact, 2019 saw a 17% increase in breaches.
A security incident will cost your company millions of dollars. The average data breach costs over $8 million!
You need to understand BYOD risks to make sure your company isn't exposed to a costly breach. Keep reading to learn about BYOD security risks, and protect your data.
1. Lost Devices
Lost devices pose the most serious security threat for companies with a BYOD policy. In fact, 41% of data breaches are caused by lost or stolen devices!
Lost or stolen devices are dangerous in the wrong hands. A savvy hacker could have access to your organization's sensitive data.
2. Data Theft
The IT department has no control over what sites and apps employees use on their personal devices.
This exposes your company to data mining apps. Employees are using these devices for business and personal use, and a personal app could compromise company security.
You also can't control network security for employee-owned devices outside of work. Unsecure or public networks can pose a major security risk. That email your employee answered at the airport could compromise the whole company's security!
Malware is another significant threat you face with a BYOD policy. Malicious apps can seek out sensitive data and cause massive data breaches. This is bad for your company, customers and reputation.
BYOD policies make it harder for your IT department to prevent malware attacks. Employees may unwittingly download malicious apps or visit malicious sites.
Devices dedicated to business use have better firewalls and restrictions to protect sensitive data.
4. Legal Issues
Data breaches can also expose your company to significant legal trouble. If your company manages sensitive medical information, a breach would cause HIPAA violations.
Data breaches can also cause lawsuits from shareholders for sharing privileged financial information. You need to protect your information to prevent future litigation.
5. Employee Negligence
Even the most stringent BYOD policies can be ignored or misunderstood. Employee negligence opens your company up to tons of security risks.
Your employees may have weak passwords or questionable surfing habits. Or you can have forgetful employees that lose or improperly store devices.
Secure BYOD requires extensive training and management to ensure employees are complying with all the policies.
Combating Security Threats Online
BYOD policies come with a lot of risks. However, there are ways to make a BYOD policy work.
It's important that your company understands the threats and risks. Then, your IT department can update its BYOD and train employees.
Contact us for help addressing online and network security threats to your business.