Cybersecurity has been a priority for businesses for many years, however, even with investments in security processes and technology, cyberattacks are commonplace across all industries. Evaluating incidents over the years, cybercriminals have been keeping busy honing their craft, resulting in cybersecurity incidents increasing across the board. It is not only the rise in the number of incidents, but the perpetrators have also become more sophisticated, adapting swiftly and targeting victim companies more effectively.
Given the increase in attack sophistication over the years, it is imperative to establish new rules of the road for risk management and cyber fraud prevention. One needs to keep in mind that the ‘bad guys’ operate as a business. They are organized, tenacious and constantly augmenting their methods. Their objective is to make money whilst expending the least amount of effort in the shortest time.