Hackers are Prepared. Are You?

December 6, 2022

Cybersecurity Trends

You’re at considerable risk if your organization’s security strategy isn’t making the grade. According to Cybersecurity Ventures, “cybercrime damages are expected to rise to $6 trillion annually, representing the greatest transfer of economic wealth in history and risks the incentives for innovation and investment.” Thus, deploying a cybersecurity model that can identify traditional and evolving threats and respond quickly to head off or help mitigate an attack is critical.

Threat actors are becoming smarter

While you read research and blogs on cybersecurity, hackers are doing the same. As new products and techniques are released, threat actors are figuring out new ways to exploit vulnerabilities. The number one way to get into your systems is still through your employees. Hackers constantly invent new ways to deceive employees, including fake advertisements, fake USB keys, fake receipts, and even fake physical mailboxes. Consistent reminders and cybersecurity employee training are essential.

Data everywhere

With your employees working remotely from their home office or local coffee shop, your data is also on the move. It is critical to control who, what, and where your information is accessed and stored. In the past, identity and access management tools focused on determining the roles and clearances of individual employees, alliances, or customers. Today, authentication and authorization must also be applied to devices and applications, not just people. Encrypt to protect. New encryption services are making it easier to encrypt individual email and document files as they travel from a device to storage in your data center or the cloud.  

Continued security talent shortages

Cybersecurity remains a field defined by high demand coupled with massive skill shortages. To satisfy that demand, the International Information System Security Certification Consortium predicts the worldwide cybersecurity workforce would need to grow by 89%. If you are having trouble maintaining a workforce or need supplemental assistance, consider contracting for CISO as-a-service

Stricter requirements for Cyber Insurance

If you rely on cyber insurance to cover your security risks, you may be in for a surprise. As claims have skyrocketed due to ransomware attacks, insurance firms are reevaluating their risk appetite and scaling back coverage while increasing premiums. Your organization may find it challenging to get the insurance coverage you want at a price you can afford. Reviewing your cyber security controls before your insurance premium is due or applying for insurance can help you get the coverage your organization needs.

Action you can take today

Identifying your cybersecurity weakness is the first step to increasing your security posture. Evaluating your organization against the Center for Internet Security Controls (CIS) can help protect your company’s assets. Would you like a clear, concise cybersecurity improvement roadmap? Contact us today to learn how our cybersecurity and IT professionals can review your IT environment and ensure you are ready to defend against threats.

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