Business Need to Start Rethinking Their Cybersecurity Policies to Protect Digital Assets

Cyber attacks and security breaches increased significantly over the past years, costing businesses millions in damages. With the growing dependency on technology, Toronto based business are finding their assets, protecting data and valuable files has become even more important. Today, businesses are no longer being reluctant to spend on security measures or hesitant to reach out to IT asset management service providers for professional assistance.

To shade more light into this topic, check out the following article highlighting some of the changes that can be expected from businesses:

Cybersecurity: Time for a Paradigm Shift

Given the growing severity and frequency of cyberattacks, it’s no surprise that organizations of all sizes are spending more money to shore up their digital defenses. The market for cybersecurity products and services is expected to surpass $60 billion in 2016, and that figure could double by 2020.

Unfortunately, more security doesn’t necessarily mean better security. In fact, the current strategy of most organizations—layering on many different technologies—is not only proving ineffective, it is overly complex and expensive. “The status quo is not sustainable,” says Keith Weiss, head of U.S. software coverage for Morgan Stanley. Even as companies spend more on security, losses related to cybercrime have nearly doubled in the last five years.

What’s needed, say security experts, is a new paradigm.

Stakes Are Ever Higher

To understand the prevailing winds in cybersecurity, investors should first consider the growth of digital assets and connectivity since the turn of the century. This goes beyond financial services or eCommerce. Even the most basic brick-and-mortar businesses (think: coffee shop or restaurant) rely on digital systems to order supplies, process payments and manage their finances online. Medical records, tax data and intellectual property are vulnerable to breaches. Click to read full article…

We see that businesses are quickly adapting to the need to increase the quality of business security. Even though most organizations have increased their cybersecurity budget, that has not slowed down online criminals from making their move. The fact is, even though everyone knows that they need to improve their business security, not everyone is certain from where to begin. If you are facing similar dilemma with your own business, check out the following guidelines by Stephen Gates:

Building Cyber Awareness – What I Would Do First!

Implement Attack Awareness Training for All Employees

Begin with deep-dive training on how cyber-attacks work. Few employees, if any, actually understand the difference between a virus, worm, Trojan, exploit, vulnerability, phishing, smishing, drive by, malvertising, adware, spyware, and ransomware attacks. Educating employees about how cyber-attacks work builds awareness to the constant risk they face from cyber threat actors. If the training is done right, using real-world examples and hands-on scenarios, the likely results would be better educated employees and team building as well. Two benefits for the price of one.

Second, include training on the motivations and tactics attackers utilise and what they are likely to target. Most attackers are motivated by money and understand that gaining access to sensitive data is often like hitting the mother lode. Employees need to recognise the value of sensitive data and understand that it must be protected at all costs. One simple click is all that is needed to compromise a system, gain access, and move laterally in an organisation. Your click may have opened up the passageway for entry into your network. Employees are often the catalyst that results in a data breach. See full post here…

Along with building awareness and having your employees be prepared for the worst, it is generally a good idea to have a preventive security measure in place. Ransomwares and cyber attacks can be stopped beforehand with the right steps and tools. One such tool you can check out for your business, is the Varonis Systems:

Ransomware-Stopping Software Fueling Varonis Growth

The ability to stop ransomware and other damaging forms of cyberattack before they cause harm has placed Varonis Systems, Inc. (NASDAQ:VRNS), a leading provider of software solutions that protect data from insider threats and cyberattacks, and its rapidly growing DatAlert solution at the centre of the global battle being fought by organisations to protect their valuable data.

Varonis said attendance nearly doubled at its annual series of Varonis Customer Connect events, held in 20 cities across the U.S. and Europe during April and May 2016.

At each Varonis Connect event, customers have shared stories of ransomware and other attacks that have been stopped thanks to Varonis and, in particular, Varonis DatAlert. In announcing the company’s first-quarter financial results on May 4, 2016, Varonis Co-Founder and CEO Yaki Faitelson told analysts attending the conference call, “DatAlert is the fastest-growing license in Varonis’ history based on the number of customers that have purchased it from its GA to date, compared to similar time periods for our other software licenses.” Click to read full post…

The path to a successful business start with recognizing your down sides and weaknesses, and follow expert advice to counter them one by one using the right tools. The above articles provides a good insight on from where to begin and what to look forward to when you are working with your IT team or external IT support services.

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