10 common misconceptions CEOs have about ISO 27001 and information security that can cost you dearly

Written By
Patrik Björklund
Patrik Björklund
Published
October 19, 2023
Topic
Information security

Information security is a central part of every business's success and survival. But for CEOs and management teams, it can be difficult to fully understand the importance of information security, which sometimes leads to misconceptions and mistakes.

In this article, we will discuss ten common misconceptions about information security and how to avoid these costly mistakes.

1: Information security is an IT issue

One of the most common mistakes leaders make is to view information security as a purely IT issue. However, the truth is that information security involves all aspects of the organization, from personnel and processes to technology and infrastructure.

How to avoid this: Make information security part of the corporate culture. Everyone should have basic knowledge of security principles and best practices, not just the IT department.

2: Compliance ensures safety

There is a notion that if a company meets all legal requirements or industry standards, then its information is secure. But compliance only means meeting the minimum requirements, it does not guarantee complete security.

How to avoid this: See compliance as a starting point, not an end goal. Strive to continuously improve the company's security practices.

3: Information security is too expensive

For some, the cost of implementing comprehensive security measures can seem overwhelming. But the cost of a data breach can be much higher, both in terms of financial loss and damaged reputation.

How to avoid this: Think of information security as an investment, not an expense. It can save the company money in the long run by preventing expensive data breaches.

4: Small businesses are not targets

Many small businesses believe they are too small to be interesting targets for cybercriminals. But the fact is that small businesses are often more vulnerable because they lack the resources and expertise to protect themselves effectively.

How to avoid this: Regardless of the size, every company should take adequate security measures. Use best practices and available technologies to protect your information.

5: Security hinders productivity

Some leaders see security as a barrier to productivity. But in fact, good security can increase productivity by minimizing the risk of downtime caused by data breaches.

How to avoid this: Integrate safety into the workflow. By creating a culture of safety, you can reduce the risk of disruption and increase productivity.

6: Only sensitive information needs to be protected

It is not only personal or financial information that needs to be protected. All company information, including internal communications and business strategies, can be valuable to an attacker.

How to avoid this: Protect all company information. Any piece of information can be a potential vulnerability if not properly protected.

7: Digital security is enough

While digital security is important, it is not enough to protect company information. Attacks can happen anywhere, anytime and require specific measures to be countered.

How to avoid this: Implement both physical and digital security measures. A balanced combination of both is necessary to provide complete protection.

8: Internal staff pose no risk

Many believe that the threat comes only from external actors. But internal threats, such as accidental mistakes or malicious actions by employees, can also lead to data breaches.

How to avoid this: Educate your staff on safety best practices and create a culture of responsibility and awareness.

9: Security can be delegated

Security is not just the responsibility of the IT manager. Management must be actively involved in security issues and ensure that all employees understand the importance of information security.

How to avoid this: As CEO, take the lead on security issues. Ensure that the entire organization is committed to protecting the company's information.

10: Once security is in place, no more action is needed

Information security is not a one-time activity. It requires constant monitoring and regular updates to effectively protect the company's information against new threats.

How to avoid this: Implement a continuous process to monitor, update and test your security measures.

Conclusion

Misconceptions about information security can lead to costly mistakes.

By avoiding these common misconceptions, CEOs and management teams can effectively protect their business's most important asset - its information.

A good foundation for this work is offered by the internationally recognized standard ISO 27001, which provides practical guidelines on how to structure their work on information security.

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