- November 5, 2020
- Posted by: Zaviant Consulting
- Category: Information Security
By Alyssa Piselli on 11/05/2020
Do you really understand cybersecurity risks?
Cybersecurity is being discussed now more than ever. But, do you understand what cybersecurity really is? Do you know how important the proper protection plan is for a company’s data? Studies show hackers attack every 39 seconds. On average, that’s 2,244 times per day. However, TechRepublic reported research concluding a 71 percent increase in security threats since the COVID-19 outbreak. That raises the average to about 3,837 total attacks per day. Attackers are approaching, and we must be prepared to defend the data.
Why planning before the attack is so important.
The planning must begin before your company is faced with a breach; not after! IBM reported on average, it takes a company 206 days (about 7 months) to even identify a breach. From there, an average of 314 days (about 10 and a half months) for the breach to be identified and terminated. However, this period still does not include the time it takes afterward for a company to rebuild their name and gain back the trust of its customers.
Cybercriminals come after every business. Will yours be ready?
A cyber breach has the power to completely deteriorate a company if there is poor protection of data. Any company could be the attackers’ next victim, so being aware of common weaknesses and trends cybercriminals target will help you begin to plan properly. A major target is the healthcare industry. Threats towards this industry are more prominent due to the high demand for patient data and outdated systems. Due to these reasons, but not these alone, SafeAtLast proclaimed an estimated 25-billion-dollar loss across the healthcare industry in 2019. However, big industries are not the attackers’ only victims. Many small companies fail to acknowledge the importance of cyber protection as well. In fact, Verizon reported 43 percent of breach victims were from smaller businesses.
Thus, it is no longer a question of if a breach could happen. The question is when your company will be under attack, and if your company will be ready; regardless of its size or industry. Nonetheless, every business must take initiative to invest in planning, executing, and managing their data security. It is more important to fund data protection development than ever before. Your company will face attacks, and you must be ready.
COVID-19’s impact on the future of data protection.
When COVID-19 broke out, companies all over the world transitioned to remote working. Without proper preparation, companies’ protection of data decreased. With teleworking comes more devices holding and sharing data. Therefore, there is less verification ensuring the right people are getting ahold of your information. Consequently, there is less confidence that your data is being used for its intended purpose. These are only some reasons why cyber-attacks and the detrimental effects they possess cannot be pushed to the side any longer. Because of skyrocketing threats, Gartner Inc. forecasted 170.4-billion-dollars in spending for the worldwide information security market in 2022. It is in your company’s best interest to capitalize on this information. Plan your defensive protection measures now to prevent cyber attackers’ increased ability to gain control!
Sobers, Rob. “110 Must-Know Cybersecurity Statistics for 2020.” Varonis, 26 Oct. 2020, www.varonis.com/blog/cybersecurity-statistics/.
Whitney, Lance. “Cyberattacks on the Rise since the Start of the Coronavirus Outbreak.” TechRepublic, 7 Apr. 2020, www.techrepublic.com/article/cyberattacks-on-the-rise-since-the-start-of-the-coronavirus-outbreak/.