Throughout 2016 cyber security became a trending topic as companies across multiple industries sought to fortify their technological defenses against a growing number of hackers. Phishing scams and malicious ransomware attacks dominated the headlines throughout 2016. However, as cybersecurity best practices have continued to improve, a recent study by the Ponemon Institute has revealed that approximately 83 percent of organizations believe that organizational complexities present the biggest risk for a cyber attack.
The recent Ponemon Institute study seeks to showcase the risk factors associated with employees who refuse to follow corporate security requirements. In many cases, employees admit that following the appropriate security requirements hinders their productivity levels. As a direct result of their actions, organizations across the country are being put at increased risks for future cyber attacks.
One of the largest ways that employees bypass established security requirements is through the use of personal devices. In many instances, the study found that employees were placing critical corporate information onto personal laptops, tablets, or smartphones. Through the following actions, data assets become increasingly vulnerable. Add to this scenario employee use of unprotected WiFi networks, and suddenly the problem becomes exponentially worse. In fact, 71 percent of organizations polled in the study stated that their inability to control employee devices, as well as apps, led to a higher cybersecurity risk and a considerable weakness in the security of valuable business data.
The study also revealed the extent to which IT security professionals are concerned about current organizational complexities and operations. For example, 79 percent of respondents fear that security breaches will involve highly valued information. An additional 74 percent of organizations state that an entirely new IT security framework is needed if their companies want to protect their valuable apps and associated business data. One thing that over 70 percent of all organizations could agree on was that data management, configuration management, app management, and organizational complexities represented areas where improvements should be made to reduce security risk.
In conclusion, every business must accept that security practices, policies, and requirements will need to evolve if business data is to be protected. This understanding also acknowledges the fact that the human element represents that weakest component of cybersecurity efforts. As a direct response to these insights, organizations should consider the benefits of implementing a new IT security architecture that is designed to safeguard valuable data from future cyber attacks. To discover a customized approach to cyber security that accounts for strengths, weaknesses, and possible risk factors, contact Dynamic Quest.
40% of businesses will incorporate the anywhere operations model to accommodate the physical and digital experiences of both customers and employees (Techvera).
The cost of cybercrime is predicted to hit $10.5 trillion by 2025, according to the latest version of the Cisco/Cybersecurity Ventures “2022 Cybersecurity Almanac.”.
The average cost of a data breach in the United States is $8.64 million, which is the highest in the world, while the most expensive sector for data breach costs is the healthcare industry, with an average of $7.13 million (IBM).
More than 33 billion records will be stolen by cybercriminals by 2023, an increase of 175% from 2018.
The three sectors with the biggest spending on cybersecurity are banking, manufacturing, and the central/federal government, accounting for 30% of overall spending (IDC).
Forty-three percent of attacks are aimed at SMBs, but only 14% are prepared to defend themselves (Accenture).
It takes an average of 287 days for security teams to identify and contain a data breach, according to the “Cost of a Data Breach 2021” report released by IBM and Ponemon Institute.
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We did everything that we needed to do, financially speaking. We got our invoices out to customers, we deposited checks, all the things we needed to do to keep our business running, and our customers had no idea about the tragedy. It didn’t impact them at all.
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