HOBI Weekly Blog Recap (1/23-27/23)
Though the pandemic has calmed, businesses are still facing obstacles left in its path including the repercussions of a digital transformation. During lockdown, many companies switched to a remote working method, which created a larger risk of cyber attacks. As the world continues to maneuver this digital era, cybersecurity becomes more important.
Before the pandemic, cybersecurity was almost an afterthought, but now that most everything is done online companies are becoming more aware of the need for more data protection. Business is not the only thing conducted online, and not the only thing affected. People do their shopping online, their banking, pay for movie tickets and dinners, even start online businesses. Weak cybersecurity can damage a company’s reputation by breaking trust with their clients. When hackers access personal information they can prey on consumer anxieties and cause a business to lose customers.
One of the primary reasons remote work has caused such a surge in cybercrime is largely due to the fact that most personal devices used for remote working do not have the same security software as office equipment, therefore, are more vulnerable to malware and viruses. Scammers are becoming more creative and using false information about COVID-19 and the vaccine to prey on the new fears of those who are usually more alert.
Cyber security software company, Mimecast, conducted a survey and found that email attacks increased by 64 percent in 2020, and 61 percent of companies in the survey reported having experienced a ransomware attack last year. U.S. data breaches have increased as well, with the first three quarters of 2021 surpassing the total number of data breaches in 2020 by 17 percent. According to the Mimecast survey, one of the largest reported ransoms to date occurred in 2021 when an insurance company paid $40 million. In addition, a global meat supplier paid $11 million to cybercriminals after plants were shut down. It may be easy to believe such events wouldn’t happen to your company, but it is becoming more critical for enterprises to update their cybersecurity programs.
One method of protecting your business from cyberattacks is to partner with a company who specializes in cybersecurity. Training employees on what to look for will also ensure that your company is fully prepared for any cyberattacks. Data security should be a primary focus for every enterprise, and it begins with awareness.
Updated security softwares, partnering with cybersecurity providers, and making sure your employees are alert to all forms of cyberattacks will help prepare your enterprise and aid in the battle against cybercriminals in this digital era.
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