Eight months: That’s the average amount of time most IT security breaches go unnoticed. Security enterprises need to establish not only ways to protect themselves from these breaches but ways to uncover them in real-time, before they become major business disruptions. And as Bring Your Own Device (BYOD) and mobility continue to transform the way we do business, many security managers and IT executives are finding that if they don’t initiate a robust security policy, employees are likely to use personal laptops and mobile devices to conduct business anyway.
If you’re not convinced of the impact data breaches have on business success yet, be aware that 51 percent of consumers will take their business elsewhere after their retailer, bank or service provider suffers a breach that compromises personal information, including addresses, Social Security numbers and credit card details, according to a HyTrust Inc. poll. For retailers focusing on the powerful 35-44 age range demographic, that number jumps to 60.2 percent.
One could argue that cybersecurity is the most intellectually demanding profession on the planet. The rate of change is so great that no challenge is ever solved and no problem ever resolved completely.
With the nature of security quickly evolving to encompass both physical and cybersecurity at its very core, software manufacturers and security experts are finding themselves in a precarious situation – balancing between what is required and what is needed.
BYOD is either a ticking time bomb or IT’s greatest opportunity. Whether you belong to the 40 percent of organizations that have policies or not, I guarantee people are using their own mobile devices at your office.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the bank will probably double its $250 million annual computer-security budget within the next five years.
While cyber insurance adoption is on the rise, only 26 percent of companies have policies today, according to a study on data breach preparedness from Experian and the Ponemon Institute.
As your enterprise virtualizes and leverages cyber technology to speed productivity, the incidence of cybercrime will, of course, increase. Similarly, as your employees’ behavior, as consumers, drives the technology they use (BYOD), the cybercrime cat will continue to be let out of the bag.