Ransomware Equals a Data Breach

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From a data regulator’s perspective, it is the responsibility of your business to keep data safe from cyberthreats, inform clients about a breach within a stipulated period and provide necessary documentation as proof of your efforts. Although different regulations have laid down distinct mandates for breach notifications, the principle remains intact.

While there is an over-arching belief that data isn’t really “stolen” in a ransomware breach, no organization hit with ransomware has been able to back this up as fact. That’s why compliance regulations mandate businesses to notify their clients if their data is in jeopardy.

Implementing Ongoing Risk Management as a Standard Practice

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In 2021, organizations that didn’t have zero trust incurred an average breach cost of USD 1.76 million more than those organizations with a mature zero-trust approach.1 It’s no wonder that 69% of organizations believe that there will be a rise in cyber spending in 2022 compared to 55% in 2021, and more than 25% expect double-digit growth in cyber budgets in 2022.2 With cyberattacks surging due to widespread remote work and increased online interactions during the pandemic, it seems likely that this trend will only continue to grow further.

About 85% of breaches involved a human element in 2021. Additionally, 36% of breaches involved phishing attacks while ransomware attacks contributed to 10% of attacks.3 Amid such an evolving threat landscape, your top-most priority should be ensuring an advanced layer of cybersecurity that can protect your organization from malicious actors.

Are You Aware of the Digital Risks to Your Business?

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Rapid technological advancement and rising global connectivity are reshaping the way the world is functioning. From higher productivity to improved customer satisfaction, technology has played a critical role in the growth of businesses across the world. However, the consequential bad news is that technological advancements have also made organizations increasingly vulnerable to digital risks. However, this does not mean that businesses must compromise on growth and advancement for the sake of security.

Organizations that understand how to detect threats and include preventative security measures and controls, as well as proactive solutions and thorough strategies, may better meet the security problems they face in modern digital environments. Let’s discuss the different types of digital risks you should be looking out for and how you can use this information to get positive ROI.

Why Your Business Needs to Prepare for Cyber Incidents

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As the world becomes more digital, so do the risks of conducting business online. Cyber incidents can happen to any business, regardless of size or industry, and can have serious consequences.

The following are some examples of common types of incidents to look out for:

Phishing
Phishing is an online scam in which criminals send emails or instant messages falsely claiming to be from a legitimate organization. These messages typically contain links to bogus websites designed to steal your personal information such as your login credentials or credit card number. Phishing attacks can be challenging to detect because scammers use familiar logos and language to dupe their victims.

Balancing a Proactive and Reactive Approach to Cyber Incidents

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A cyber incident is a type of security event that can harm a business like yours. Ranging from data breaches and system failures to malware attacks and phishing scams, these incidents can hinder productivity, revenue growth and customer satisfaction.

In most cases, a cyber incident will result in data loss or downtime. This can include loss of confidential information, customer data or business records. In some cases, a cyber incident can also cause business interruption or financial loss.

Cyber Incident Response 101 for Small Businesses

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Imagine it’s the end of a long workday and you’re ready to head home for the evening. However, just as you’re about to leave, you find out your email credentials have been hacked and critical data has been stolen from your business. As a small business, you may have to deal with similar scenarios caused by phishing attacks, ransomware, malware or any other security threat.

The question is, do you have a plan in place to respond quickly and effectively to minimize the impact on your business?

Cyber Incident Prevention Best Practices for Small Businesses

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As a small business owner, you may think you are “too small” to be the target of cybercrime because you aren’t a large, multimillion-dollar company. However, this couldn’t be further from the truth. Although the media mainly focuses on attacks on big businesses, small businesses are low-hanging fruit for cybercriminals.

Cybercriminals know that small businesses are less likely to have strong security measures in place, making it easier for them to breach their data. In this blog post, you’ll learn the steps you can take to protect your business from the claws of cybercriminals.

5 Security Risk Analysis Myths in the Healthcare Industry

The COVID-19 pandemic threw multiple challenges at the healthcare industry. The sector saw a steep increase in demand that led to the collapse of health infrastructures in different parts of the world. What’s more, the industry experienced an unprecedented cybercrime surge.

According to a report, the most attacked sector in 2020 was healthcare,1 and experts expect this trend to continue into 2021 and beyond. Increased adoption of a hybrid workforce model and telemedicine have created vulnerabilities threat actors are eager to exploit.

A Resilient Organization Starts with Cyber Resilience — Here’s Why

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Global events, such as recessions and pandemics, create enormous social and economic challenges that impact organizations and their management. From employee and customer satisfaction to financial difficulties, supply chain disruption and skyrocketing cyberattacks, top-level management oversees a wide range of concerns.

As business owners aim to address multiple challenges that may be a threat to their organizations’ success, resilience is a trending buzzword. Organizational resilience is an organization’s ability to foresee, plan for, respond to and adapt to gradual change and unexpected disruptions to survive and thrive.

Top 5 Threats Internet of Thing (IoT) Devices Pose to Data Protection & Privacy

Gartner Inc. predicted that by 2023, CIOs would be responsible for over three times the endpoints they were responsible for in 2018 due to the rapid evolution of IoT trends and technologies. With billions of physical devices worldwide connected to the internet today, this prediction is on its way to coming true. However, the rapid evolution of IoT technology has proven to be a double-edged sword from a cybersecurity and compliance standpoint.