Data is the most valuable asset for any business. No matter what industry you are in, it’s critical to take care of your data, whether it is financial reports, healthcare records or a start-up business plan. Despite increased data protection regulation, data breach risks are growing. According to Capita, 80% of data breaches involve personally identifiable information at a cost of $150 per record.
With cyberattacks exploding around the world, it’s more important than ever for organizations to have a robust password policy. Hackers often gain access to corporate networks through legitimate user or admin credentials, leading to security incidents and compliance failures. In this article, we will explore how to create and maintain a strong and effective Active Directory password policy.
Cybercrime has been on the rise for years now, and it is not showing any signs of slowing down. Indeed, the arrival of the COVID-19 pandemic in 2020 just fueled the situation, and the number of attacks is escalating. Here are important data breach statistics that can help you better understand the risk landscape for 2021.
Users with privileged access to an organization’s systems and networks pose a special threat. External threat actors often target privileged accounts using phishing schemes and social engineering techniques, since gaining control over these credentials helps them move more freely inside the network. Moreover, people sometimes misuse their own privileged accounts; this type of cyberattack takes the longest to discover, according to the Verizon Data Breach Investigation Report.
Insider threats remain one of the biggest issues plaguing cybersecurity. A study by Ponemon shows that the costs of insider threats leaped 31% in just two years, from $8.76 million in 2018 to $11.45 million in 2020. The same report shows that it takes companies an average of 77 days to contain an insider threat incident. Forrester predicts that insider threats will cause 31% of data breaches by the end of 2021, up from 25% in 2020.
Following a string of 83 data breaches in 2019 alone, the United States Department of Defense (DoD) established the Cybersecurity Maturity Model Certification (CMMC). The CMMC framework is a unified national standard for improving cybersecurity. Companies in the defense industrial base (DIB) must implement CMMC requirements in order to win contracts. Read on to find out how you can achieve compliance.
A cyberattack is expected to occur every 11 seconds in 2021 — nearly double the frequency just a year earlier. These incidents often involve breaches of sensitive proprietary information and cost the organizations involved millions of dollars. Despite all the resources being devoted to improving cybersecurity, new threats continue to arise faster than defense capabilities.
A security and information event management (SIEM) tool can be a valuable component of a mature security strategy. Indeed, effective SIEM solutions have been available for well over a decade. Organizations typically purchase SIEM tools expecting fast implementation and reliable security threat alerts that provide the intelligence required to respond promptly and prevent breaches. The reality is quite different.
It now takes organizations 207 days to identify and 73 days to contain security breaches, according to IBM’s 2020 Cost of a Data Breach Report. That means the average “lifecycle” of an incident is a staggering 280 days — 7 months! Moreover, cybercrimes are becoming increasingly sophisticated and attackers are quicker than ever when it comes to finding cracks in corporate infrastructure.
