Cyberthreats and Ransomware

December 22, 2020
Dave Brady

Cyberthreats, including Ransomware, are on the rise and a severe threat to businesses and institutions alike. Corporate Boards and Executives need to act before a severe cyber event occurs because afterward's it is too late to mitigate the impact. It should not come as a surprise that your brand, reputation, and operations are under constant attack from cybercriminals, which could adversely impact your customers, suppliers, employees, and financials if successful. They profit after breaching the defenses of businesses, institutions, and governments. Experience has taught them that compromising you is a successful and very lucrative business. They are well funded, aggressive, sophisticated, and innovating at unprecedented rates. Actual cyber breaches can end up costing millions, while ransomware often shuts down operations for weeks and or months.

Recognizing cyber threats and realizing it's only a matter of time before your hit is prudent risk management. Cyber readiness is a necessary investment and the cost of doing business in our digitally connected world.  

Are you prepared?

Cyber readiness is a multifaceted program that includes planning, risk management, training, and technology. A comprehensive plan should consider the following:

  1. An executive owner for security and data privacy
  2. Security & data privacy strategy
  3. Security and data privacy policies and procedures
  4. Cyber and data loss insurance
  5. Vendor management
  6. Business continuity plan
  7. Cyber incident response plan
  8. Zero trust technical architectures and access
  9. Defense in depth
  10. Air gapped backups
  11. IT disaster recovery plan
  12. Employee training and awareness programs

These are just some of the steps involved in creating an effective cyber program. While you can and will prevent most breach attempts, you can never guarantee 100%. It takes just one breach. But you can minimize financial and operational impacts with proper planning and capabilities beforehand. If you have not already done so, get started today. Cyber threats never sleep or take days off, nor should you.

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