Cybercriminals are leveraging ransomware threats to extort big money from organizations of all sizes in every industry, but financial services organizations are one of today’s primary targets. It is non-negotiable for financial services companies to maintain the privacy of theirs customers and the security of their confidential data. If a bank or credit union is hit with a ransomware attack, significant backlash is undoubtedly going to ensue – especially if customer data is held ransom for a significant amount of time.
With 11,000 IT and cybersecurity jobs currently unfilled in the state of Florida and state government agencies facing a very competitive talent market, the University of West Florida Center for Cybersecurity and the Florida Agency for State Technology (AST) have tackled the issue aggressively on their own and teamed up to build a pipeline of talented, trained cyber professionals who can support the state’s cyber resiliency and data security.
Every organization’s network infrastructure has allowed us to take advantage of smart solutions and other IoT devices to maximize the value of security solutions – not only from a physical security aspect but also from the perspective of operational optimization, which provides an organization with even more value and greater return on its investment. However, simply adding more devices to a network to generate more data and greater awareness isn’t helpful. Because the majority of these devices are network-based at their core, any organization must take caution to protect its network and the sensitive data it contains.
The use of Internet of Things (IoT) technology is growing rapidly as more consumers and businesses recognize the benefits offered by smart devices. The range of IoT hardware available is huge, including everything from smart doorbells and connected kettles to children’s toys. What’s more, this is not only limited to smart home tech for consumers. IoT sensors are being increasingly used by businesses of all sizes across numerous industries including healthcare and manufacturing. However, despite its life-enhancing and cost-saving benefits, the IoT is a security minefield. So, is it even possible to secure the IoT?
A company is never able to predict when or by what means it may be targeted in a cyberattack, but it can prepare a robust response plan in the event of a breach. That response – contingent on the team, corporate processes and the technology that supports them – will ultimately determine whether a company ends up on the front page of The New York Times next to Equifax with its clients’ information on the Dark Web.
Our businesses are inundated with incidents of ransomware, malware, adware and many other intrusion variants, it’s no wonder that 90 percent of healthcare institutions have been affected, at a total cost of $6 billion a year, according to a recent study from the Ponemon Institute. As we make our way through these threats, one needs to ask; if so many companies offer solutions, and institutions hire top shelf network security engineers, why are there so many breaches?
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