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For centuries, people and businesses have been protecting information that they didn’t want others to have. Whether they kept it in a safe, hid it in the walls of buildings or protected it with some kind of code or cipher, the idea of keeping personal information secure is not new.
The scope of risk has vastly increased. The amount of information being stored digitally has increased exponentially over the last 20 or more years, with businesses storing terabytes of data. In addition, information has become more valuable, because it can be instantly disseminated across the world, and with the introduction of the dark web, stolen information is a profit center for hackers.
There are more attack surfaces than ever before. Your only fear is no longer that someone is going to rob your physical location, but now you must be concerned that your computer systems are getting hacked, your users are getting socially engineered, your identity being stolen, and your Internet of Things-connected devices getting compromised.
The requirements for individuals and businesses have increased significantly too. There are data privacy and/or breach notification laws in all 50 states, there are industry and government compliances, and more often businesses are including data security requirements in their vendor contracts. The penalties (monetary, reputational and contractual) for not meeting these obligations are becoming more severe.
While there are many types of threats, here are some of the most common:
Protecting your business
Knowledge is power when it comes to cybersecurity. Here are some ways that you can work to protect your business:
Do you know what you would do if your organization experienced an incident? This could come in the form of a lost or stolen laptop, compromised credentials, ransomware, social engineering, system compromise or inadvertent exposure of data, among others. Do you have a plan for rebuilding or recovering your system should critical data be lost? Do your employees know what to do in these situations? In order to mitigate your own risk, it’s critical that you have a plan to respond before you have an issue. Trying to figure out how to address an incident when you are in the middle of one, is like trying to plan for a blizzard two hours after it starts.
Paige Yeater is Information Security Program director at Mainstay Technologies.