People everywhere continue to increase the amount of time they spend on their electronics. A higher usage of technology in comparison to the past is not necessarily a bad thing; however, it seems that using technology is becoming the general population’s go-to thing to do, especially when placed in an awkward situation
Digital technology is taking over the average office and the average modern business in a big way, if that wasn’t already obvious. Our reliance on tech, and increasingly complex forms of it, only becomes clearer as time goes on. But with that reliance also comes the fact that it can be a major vulnerability. Poor management of your hardware, software, and data can lead to a wide range of risks, including security problems, inefficiency, and major cases of downtime.
Critical sectors such as transport, energy, health and finance have become increasingly dependent on digital technologies to run their core business. While digitalisation brings enormous opportunities and provides solutions for many of the challenges Europe is facing, not least during the COVID-19 crisis, it also exposes the economy and society to cyber threats.
We are in the midst of a technology revolution, with the world becoming more connected than ever. But with great connectivity comes great threats. The digitisation of every aspect of our lives means that there is a growing reliance on technology not just in our homes but across businesses and industries too. A dependence that will leave us all vulnerable if our connected systems are breached.
The past decades have seen the manufacturing industry embrace the digital revolution. Emergence of new technologies such as cloud computing and the Internet of Things (IoT) has brought down barriers, enabling industries to grow and advance like never before. But, much like in the consumer world, these open platforms and interconnected systems have created more opportunities for cyber criminals, leading to a rise in the frequency of cybersecurity attacks.
Certain industries, notably in critical infrastructure environments such as power, oil and gas, water and wastewater and nuclear facilities, show a high level of awareness and appreciation of the need for a comprehensive security strategy. They tend to have detailed cyber security plans and procedures in place and their investment of time and capital in protecting their assets is considerable.
However, many organisations in other industries, notably manufacturing, are either unaware of the risk of cyber attacks or reluctant to implement security strategies in their enterprises, as investments in cyber security do not appear to have a tangible return-on-investment (ROI). This leads to a complacent ‘wait and watch’ approach that only mandatory regulation or the unfortunate instance of a cyber-attack may change.
These days, manufacturing organizations have some of the most complex network environments around. The industrial IoT/OT revolution has enabled huge efficiency gains and new business models galore — but it has also created hundreds (even thousands) of new entry points for cybercriminals.
We must understand that security is everyone’s problem. It must be integrated into every business, at all times, becoming part of each employee’s daily actions.
In most companies, a lack of cybersecurity training represents a big gap in terms of overall readiness and digital security. A comprehensive programme must account for the human element in a digital ecosystem. More than just hardware and software resilience, security rigor includes a process and plan that define the roles and responsibilities of employees and workers. It defines the types of actions and activities that are allowed to be performed, and includes clearly communicated consequences for noncompliance.
Cybersecurity is a constantly evolving space, with attackers persistently developing new and advanced technology and skills to compromise data and systems. The disruption of operational systems can have a far-reaching and potentially catastrophic impact to your business both in the short and long term. Whereas previously companies have sought to meet these escalating challenges individuals, the future is far more collaborative. Today, businesses are working together to develop cross-industry skills, combined with open technology and transparent communication to fortify businesses and keep plants running smoothly.
Cyberattacks and cybercrime are increasing in number and sophistication across Europe. A stronger cybersecurity response to build an open and secure cyberspace can create greater trust among citizens in digital tools and services.
Fighting cybercrime
Cybercrime takes various forms and many common crimes are cyber-facilitated. For example, criminals can:
gain control over personal devices using malware
steal or compromise personal data and intellectual property to commit online fraud
use internet and social media platforms to distribute illegal content
use the ‘darknet’ to sell illicit goods and hacking services
Some forms of cybercrime, such as child sexual exploitation online, cause serious harm to their victims.
If you’re like many modern businesses, then you may have gotten into the habit of collecting and collating data related to the business. Big data can help you develop insights in marketing, sales, customer relationship management, as well as in making internal processes more efficient. However, without a comprehensive data security policy, it can be one of the biggest vulnerabilities your business is faced with. Data breaches are becoming increasingly serious due to the amount of potentially sensitive customer data businesses are storing. Not having a data security specialist protecting your servers could result in heavy fines or even closure of the business following a major breach.
Over the past decade, the cyberthreat to the healthcare industry has increased dramatically, along with the sophistication of cyberattacks. Industry and government both recognize this new era. For each improvement delivered by automation, interoperability, and data analytics, the vulnerability to malicious cyberattacks increases as well.
Cyberattacks are of particular concern for the health sector because attacks can directly threaten not just the security of systems and information but also the health and safety of patients.
Healthcare organizations are attractive targets for cybercriminals for three main reasons:
Criminals can quickly sell patient medical and billing information on the darknet for insurance fraud purposes.
Ransomware’s ability to lock down patient care and back-office systems make lucrative ransom payments likely.
Internet-connected medical devices are susceptible to tampering
<a href=’https://www.freepik.es/fotos/medico’>Foto de Médico creado por rawpixel.com – www.freepik.es</a>
As more businesses turn to remote work, many are asking themselves, “What security issues come with working remotely?”
For most businesses, there are these top 4 security issues with working remotely:
Phishing scams
Unsecured endpoint devices
Home office risks
Network security
Whether you’re new to remote work or have been telecommuting for years, it’s important to understand how working from home affects your business’ cybersecurity. While certain cybersecurity protocols remain the same whether your office is virtual or not, other defenses need to be altered to fit the home office environment for all employees.
Learn what makes remote cybersecurity different, top security issues businesses face, and how your organization can protect itself below.
Regardless of whether workers are remote or not, all employees should understand their personal role in maintaining your business’ cybersecurity. It only takes one wrong click on a phishing email to cost your business hundreds of thousands—or even shut your doors for good.
If most or all of your employees work from home, the responsibility of each individual increases tenfold.
That’s because instead of maintaining cybersecurity standards across one office, standards must be maintained across as many offices as there are employees. Often, these security protocols must be upheld without the help of on-site IT support or management as well.
To achieve the best outcome, managers and IT teams should help teleworkers implement and practice proper cybersecurity whenever possible. Ultimately, however, much of it comes down to individual responsibility. When it comes to security issues with working remotely, teleworkers must understand how and why they contribute to their business’ overall cybersecurity.
Network security refers to the cybersafety measures taken to protect your company’s entire computer network. Your network security could include cloud computing, proactive cybersecurity tactics, segmentation, and more.
Your business may already be protecting its network with some of these or other cybersecurity strategies. If most or all of your employees are suddenly working from home, however, some of your company’s security measures may need to be rapidly revised.
For instance, if your company typically employs a user privilege system, those user authorizations might need to be updated now that workers aren’t in a shared office space. Or if your data is currently stored on external servers accessed through an internal network, you might attempt to move this data to a new storage location.
But changing how you protect your network can lead to unforeseen problems, new vulnerabilities, or security gaps. Under normal circumstances, such changes can be carefully planned, executed, and monitored. When circumstances dictate hasty change, however, your security could be at risk.
How to Protect Against Security Issues While Working Remotely
When it comes to mitigating or resolving the security issues of remote work, there is no one-size-fits-all approach. The exact cybersecurity measures your business needs will vary based on your organization’s size, operations, assets, and many other factors.
With that said, there are several best practices that can aid in improving remote cybersecurity for many different companies. Soffid is the solution to access information as your were in the office. Have a look to the following interesting video were our CTO, Gabriel Buades, tell us about how Soffid can secure your company data while teleworking.
Faced with a range of obstacles, businesses are changing how they approach cybersecurity
Cybersecurity has been a priority for business leaders for many years. Yet, despite investments in security controls, cyber-attacks keep coming.
Failing to meet regulatory compliance standards costs organizations billions every year. Even worse? The financial impacts continue to rise. These costs come from more than just fines and sanctions but actual damage to business disruption and loss of productivity. By taking a continuous approach to compliance requirements, your organization can dodge these monetary bullets and improve information security and data privacy.
Data protection compliance costs less than noncompliance
Smaller companies — with fewer than 5,000 employees — in particular may be hit hard by GDPR requirements and other data compliance hurdles. A new report does the math.
Research has shown that having a CISO can lower the cost of a data breach. But is there an effect on the cost of data protection compliance?
In many industries, the value of data is increasing, and so is the cost of protecting sensitive and confidential information. Regulatory scrutiny of information security is higher in industries such as financial services and healthcare, but that doesn’t mean other companies are off the hook.
Compliance, similar to a robust cybersecurity framework, is a key enabler of business and its absence instills heavy monetary impacts in the case of both on-premise and cloud deployment. What is the cost of compliance? Are organizations saving costs by remaining non-compliant? Understanding this is imperative in the world of modern business where cyberattacks continue to grow sophisticated.
Non-Compliance Cost And Its Repercussions
Several organizations had rationalized the non-compliance cost to be lesser than it is needed for bringing data and technology processes under compliance. However, the impact of non-compliance cost is jaw-dropping compared to the cost of compliance with regulations such as PCI-DSS, HIPAA, GDPR, and so on.
Recent years have seen high recommendations for compliance regulations to prevent legal implications, consequences regarding business reputation, and possible fines
It has been witnessed that the demand for audit evidence requests is increasing and organizations, one in six times, are found non-compliant. This has resulted in huge fines when screened by third-party auditors. The majority of organizations believe that compliance becomes a problem while moving systems, infrastructure, and applications to the cloud. They think that challenges come to the fore while dealing with IT security compliance in the cloud.
Often Overlooked Costs
The complete financial costs of a data breach can be hard to quantify. Tangible assets are the easiest piece of the puzzle, but consider other expenses such as lost future business and reputational damage. Intellectual property loss, downtime, and operational impacts affect the daily activities of an organization and render it unproductive. Noncompliance is also a substantial financial factor—breaches often incur attorney’s fees, prosecution, and penalties.
Each data breach accumulates costs related to investigation, response, notifications to regulatory organizations, victim identification, public response, victim outreach, and internal and external communication campaigns. Victims often require compensation, as well.
Take a Proactive Approach
In light of the mounting risks to security and the expenses of a breach, every organization must make risk-aware decisions. The ultimate goal: mitigate risk without addressing every threat or vulnerability
What costs are involved in bringing your organization into compliance? The following components typically make up compliance costs:
Data protection and enforcement – Preventing data leakage and enforcing data usage policies
Audits and assessments – Examining and inspecting the current stance of an organization compared to what is required by the compliance framework mandated
Policy development – developing internal policies that provide the structure needed to comply with various compliance regulation frameworks
Training – Training staff and others involved to carry out needed activities for compliance
Certification – certifying your business against various compliance regulations
Investment in security solutions and other specialized technologies (data loss prevention, governance, encryption, etc) – Investing in technology solutions that allow more easily bringing your business into compliance with regulation frameworks
To Sum Up
Compliance costs are significantly lower than that of non-compliance and leveraging technology solutions helps reinforce the process further. Holistic approaches are necessary for ensuring data compliance, security, and protection. As key functionalities of businesses evolve, surrounding malware protection, data usage, and backup, and audit applications, a number of AI-driven compliance solutions are coming to the fore. These solutions help shore up compliance programs, thereby avoiding risks and preventing costly repercussions of non-compliance.
While compliance costs are far less than the cost of non-compliance, using technology solutions can help to reduce those costs even further. Soffid provides a holistic approach to ensuring your data is protected, secure, and compliant.
Privileged account management can be defined as managing and auditing account and data access by privileged users. A privileged user is someone who has administrative access to critical systems.
Implementing a policy of least privilege minimizes unnecessary privilege allocation to ensure access to sensitive data is available only to those users who really need it.
Today, our CTO, Gabriel Buades, talk about how Soffid helps companies to secure their priviledge users.
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