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Eyes wide open: Raising cybersecurity's profile in your business

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Simple steps you can take today to keep your data safe

Our 2017 Global Threat Intelligence Report showed that, year on year, 11% more businesses were improving their incident response ability. But 68% still had no formal incident response plan.

How can your organisation be more ready to face today’s security threats? There’s no simple formula for success, but if you’re keen to act, we’ll suggest some steps you can take.

Our Frost & Sullivan authored white paper, Ransomware: The Pervasive Business Disruptor, describes the most pressing cyberthreats you face today. It summarises the latest research on ransomware and guides you to limit that risk. A good first step is to download your free copy today.

Be a catalyst for change

Our white paper also shows that ransomware is now the biggest cyberthreat in the industry. Ransomware ‘locks’ users out of their business files and folders until they pay the attacker a fee. This type of attack usually works well and occurs increasingly often. The benefits for hackers are clear: it’s a lucrative business. So, ransomware criminals are constantly trying new ways to exploit weak infrastructure.

What can you do to reduce your ransomware and hacking risks? Long-term success will require a sound strategy to help your business deal with the threat. You can take several steps right now to limit the risks, adress the topic in your business, and start the change:

1. Research the common threats

Gaining a view of the risks your business faces is a crucial step. Every business can be threatned by ransomware, but certain sectors are more regularly targeted. Our research found that 77% of ransomware targets are from just four industries: business and professional services, government, healthcare, and retail.

2. Understand the ‘people problem’

You also need to understand how you’re likely to be attacked. Our research supports the view that people are the weak link in any company’s defences. Phishing attacks, social engineering, and ransomware almost all happen through individual human errors.

3. Get executive buy-in 

Any cybersecurity plan’s success depends on getting it onto the business leaders’ agenda. A responsible CEO will know cybersecurity is crucial. But many will see it as an IT issue and may hesitate to treat it as a long-term plan.

Without buy-in from your leaders, it will be difficult to get the business up to speed. Security today must be comprehensive. You have to get at least this message across to your business leaders: it’s no longer just about firewalls.

Get air time with the C-suite by:

  • pressing the issue with your line manager and trying to raise it to board level
  • compiling the latest research and threats (download our whitepaper today) and supplying this to your leaders
  • putting together a comprehensive plan for your business

Finally, when ‘selling’ the importance of upgrading your cybersecurity plan, emphasise the costs of downtime, not ransoms. For larger businesses, a USD 1,000 ransom may not seem like much. But in the context of a day (or more) of lost work, the costs could spiral.

Next steps

Risks are less predictable than before and attackers are developing more clever ways of breaching your defences. To adapt, you’ll need a mature and complete approach to cybersecurity. You need to understand the risks you face, while gaining buy-in from your leaders. Building on this basis, you’ll soon be able to develop an all-round, effective security strategy.

 

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