Despite their enormous financial success, high-growth companies tend to be careless when it comes to IT security. A recent Beyond Identity study of more than 1.100 workers shows how vulnerable high-growth companies are to cyber risk.
According to the survey, only 62 percent of respondents believe their thriving employers are proactive about online safety. At the same time, just over half (55%) of employees confirm that they take even the most basic precautions, such as B. the restriction of administrative network rights.
Poor password hygiene in companies
Looking specifically at password tactics employed by employers, an alarming picture emerges: while password compromise is the most common way for hackers to gain insider access, high-growth companies suffer from poorer password hygiene ordered than in normal growth companies. For example, passwords are stored less securely.
As a result of this lax approach to security, high-growth companies regularly face security breaches. More than a third of those surveyed (35%) state that their company has already been exposed to between three and five cyber attacks, and 20 percent have been affected even more frequently. As their name suggests, high-growth companies put a lot of capital at risk, which in turn makes them a prime target for attackers. However, they seem to be better able to limit the damage (87.000 euros) than standard companies, whose losses averaged more than 110.000 euros.
Better measures only after security breach
Another plus for high-growth organizations is that many have tightened the reins after a security breach: 70 percent immediately started educating their employees about cybersecurity and 60 percent started securing their data. However, less than half of standard and high-growth companies invested in cybersecurity insurance or installed dedicated cybersecurity software after an incident. While it's encouraging that these companies have started implementing security measures, the survey showed that they are inadequately protecting their employees and critical data. The complete results of the study as well as valuable tips can also be read online.
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About Beyond Identity
Beyond Identity provides the secure authentication platform, breaking down the barriers between cybersecurity, identity and device management, and fundamentally changing the way users log in - without passwords and with a frictionless, multi-step login process. Beyond password-free, the company offers zero-trust access for securing hybrid work environments where tight control over which users and which devices access critical cloud resources is essential.