Alan Katerinsky, cybersecurity expert and Professor of Management in Science and Systems at the University of Buffalo School of Management, provides cybersecurity tips for teleworkers during the coronavirus crisis.
New research from Infrascale indicates that 58 percent of C-level executives at small and medium businesses (SMBs) said their biggest data storage challenge is security vulnerability.
In spite of this cyber war and in an effort to be first to market, many companies still rush their products out while ignoring proper security integration during development which can lead to disastrous side effects for businesses. Costing them valuable data, reputation, money and time to amend their product weaknesses. Companies can spend a great deal of time and money developing security patches, repeatedly rolling back and implementing updates, and buying other technologies to secure their own offering. This cycle can potentially continue for years releasing cures to the latest aliments while fearing the next hit.
Looking back at cybercrime incidents of the past 10 years, only the questions of "if" and "when" remain. "If" a business has no active cybersecurity policy and processes even just hundreds of rich customer records, "when" becomes soon enough. For the past 10 years, at least eight large-scale data breaches per year have trembled economies. You’d imagine that as business owners, we would have learned the immense value of the digital data we hold. The Ponemon Institute says that just in the US, the average size of a data breach is 25,575 records with a cost of $150 per record on average. That could be the money you would have paid in damages, as a government fine, and potentially in customer lawsuits.
Often, the significance of backing up your company’s data is diminished by the hundreds of other things you must do as a small business owner to simply keep the company running day-to-day. Unfortunately, what most small business owners fail to realize is that the lack of an adequate data backup can cause the doors of a business to close more often than you’d think. For this reason, it is crucial that every company has at least one efficient and effective method of data backup in place.
How is the coronavirus pandemic shaping the business operations of criminal networks? Tracking how the market is changing in real time, Digital Shadows has observed that some operations have quickly curtailed their activity while the majority of malicious actors are capitalizing on the crisis, noting, for example, that an increase in online transactions has potentially bolstered success rates for credit and debit card fraud.
The World Economic Forum released a guide on how businesses and employees can protect themselves against cyberattacks while working from home during COVID-19.
As large numbers of people turn to video-teleconferencing (VTC) platforms to stay connected in the wake of the COVID-19 crisis, reports of VTC hijacking (also called “Zoom-bombing”) are emerging nationwide.
