With the record number of cyberattacks making national news, cybersecurity is top-of-mind for many business executives—but an effective cybersecurity strategy involves more than just awareness of possible threats. It’s important that your organization is prepared for the inevitability of facing cyberthreats.
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Hackers have upped the ante. Throughout 2021, cyber criminals grew more sophisticated, more organized, and more aggressive, using advanced techniques and cooperation among hacker groups to drive an unprecedented number of attacks. All told, the cost may tally an estimated $6 trillion in losses just this year, according to Cyber Security Ventures.
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While the increased risk of cyber-attacks, further fueled by the pandemic, is in the news daily, too many organizations continue to lag in their planning and preparedness. There are countless stories of entities across the business and societal landscape, from big corporations to hospitals to schools, navigating data breaches and other forms of cyber-attacks that put their organizations, employees and stakeholders at risk. Cybercriminals are always looking for their next target and their tactics are continually evolving. The question is how to keep one step ahead or, at the very least, to keep pace with best practices?
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Alliance Residential Company, one of the largest multifamily housing real estate developers in the United States, needed to rebuild many of its internal corporate support departments, including the IT department, after its sale of its management division.
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Ransomware is currently headline news and rightly so. Technology professionals around the globe have observed recent spikes in this form of cybercrime with alarm. The sheer volume of ransomware attacks in the first six months of 2021 is said to have eclipsed the 12-month total for 2020 and show little sign of slowing.
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I’ve been known to use quotes to inspire or strengthen my message, so here goes: “The sky is falling, the sky is falling” (The Remarkable Story of Chicken Little, 1840). Believe it or not, this Chicken Little quote has significance to businesses: If you are not ready for incidents, individuals will go into a panic and act like the sky is falling. Preventing this is the main focus of an incident response plan (IRP), which takes control of events that could cause catastrophic harm to your organization in advance so that you do not panic when they actually occur.
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Disasters. They can mean different things to different companies. One company might be scrambling without any sense of direction during a malware attack; another company might be as cool as a cucumber. The difference is having a plan in place and the right personnel to help fulfill it. Franz Kafka, a major figure in 20th-century literature, stated, “Better to have and not need than to need and not have.”
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Oscar Wilde once stated, “To expect the unexpected shows a thoroughly modern intellect.” In continuing our look into being prepared during Cybersecurity Awareness Month, our second installment will focus on business continuity, what it entails, and the ongoing process to ensure it doesn’t become a "set it and forget it.”
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October is Cybersecurity Awareness Month, but it’s about more than just awareness. It’s important that your organization is prepared for the inevitability of facing cyberthreats.
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