CTOvision recently ran an article offering advice to executives on preparing for cyber threats.
“84% of corporations have malware on their networks…Hackers are able to get in quickly and can remain undetected for months or years, doing immeasurable damage. In recent years, it is estimated that cyber attacks and cyber crime have quadrupled, resulting in financial impact that exceeds $1 trillion in loss.”
Is Your Company Fully Prepared for Cyber Threats?
Key issues every executive should be prepared to resolve include:
- What is the cyber threat to your business, brand and bottom line?
- Do employees understand their role in cyber security?
- Is there a response plan in the event of a data breach?
- Are you doing the bare minimum for compliance purposes or are you thoroughly prepared?
A customer data breach can be very costly – not only in terms of brand perception but some companies have taken on the cost of credit monitoring for customers whose credit or health records were breached and negligence lawsuits can significantly diminish a company’s bottom line.
The Employee Role in Cyber Security
Employees are the first line of defense against cyber threats. If you already have security procedures in place that have been explained in the past, it is a good idea to give a refresher on a regular basis. Even then, rule-breakers will always find a way to exploit vulnerabilities – whether intended or unintended. Not every employee is going to recognize a phishing email or suspicious link. A multi-antilogger can protect employees from threats your system’s antivirus cannot detect.
Even Without a Data Breach, You’re Vulnerable
Downtime alone can cost thousands of dollars each hour your systems are not up and running. Software corruption is the third leading cause of system downtime after human error and hardware failure. While it is hard to defend against a careless act or the premature demise of an electronic component a high-availability system and data recovery tool can protect your systems from software corruption.
What is the most important aspect of a data breach for your company? Is it protecting customer data? Avoiding costly downtime? Protecting proprietary information?
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