Few companies underestimate the real and constant threat posed by cyber attacks, yet while the risks cannot be overstated many businesses remain underprepared to prevent an attack or mitigate its damage.
Almost half of respondents to a recent global PwC survey say they do not have an overall information security strategy. Yet 2017 was a particularly busy year for hackers, including the nasty strain of ransomware called WannaCry that temporarily crippled Britain’s National Health Service. Last year, companies in the UK alone fended off an average of 633 firewall breach attempts a day.¹
Amazingly, some of these breaches are thought to be generated from cyber tools stolen from the US National Security Agency, allegedly by Russian hackers.²
The threat is only rising. According to the World Economic Forum, infrastructure networks that are increasingly cyber-connected are vulnerable to attacks, glitches and other events that could lead to “unanticipated” effects to broader society. The insecure nature of the internet of things also poses a growing risk.
But the good news is, while hackers are evolving, so too are the tools and strategies to fight them. Executives are acknowledging that cross-industry collaboration – where businesses, even competitors, collectively share information – benefits their organisations and their customers.
Still, one of the biggest priorities for your business in 2018 must be the security of your digital assets. In a world that is becoming more connected, vulnerabilities are everywhere.
The start of the year is a good time to take stock and revisit the basics. According to this infographic from Law in Order, there are five basic areas to address for security: policies, monitoring sensitive data, vulnerabilities, investing in new technology and empowering your people.