Logical Security

RSS

CEOs cite cybersecurity as the biggest threat to the world economy and as a result, the global spend in cybersecurity is expected to surpass $1 trillion by 2021. An enterprise cyber attack can turn into a catastrophe in a matter of hours, potentially damaging any business at any point in time. As we see from the past few years, the greatest have already fallen.

In retail, brick-and-mortar stores experience loss or shrink due to shoplifting, fraud, employee theft and human error. To mitigate against this, many have dedicated loss prevention (LP) personnel who use a variety of tools, including in-store video surveillance systems and point of sale (POS) systems, to deter and investigate theft. But, despite the continued best efforts of LP teams, shrink is on the rise.

Both turnstiles and doors are being integrated with advanced electronic access control, video surveillance and other intrusion sensors to provide enhanced security and cost-effective operational management options that help save on manned guard resources and offer real-time analytics. However, revolving doors and turnstiles are subject to special code requirements that are different than codes for swinging or sliding doors to ensure the safety of building occupants if emergency evacuation is necessary.

The CCPA has forced enterprises to rethink the types of personal information they collect and share, and the policies and procedures they implement to safeguard that data. Are enterprises prepared for the CCPA?

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.

Matthew Rosenquist has joined the Eclipz executive team as Chief Information Security Officer (CISO).

Cybersecurity breaches are a major threat to every business and can quickly lead to network downtime. In fact, a standard breach costs an average of $3.5 million (IBM). However, if a large organization is unprepared, this cost could skyrocket, as was the case for one firm last year, which lost an estimated $51 million after halting operations due to a breach.