For organisations, cybersecurity is a non-negotiable area of investment in order to protect their precious technical and financial data along with their IP content. Risks in cybersecurity can impact organisations at any point in time without warnings in advance. Such attacks and threats can be exceptionally difficult to handle once they are successfully executed by cyber criminals. Therefore, corporations must proactively manage cybersecurity risks to prevent cyber attacks.
Just like in the real world, the phrase ‘Prevention is better than cure’ is applicable in the field of cybersecurity too. Today’s data breaches and cyber-attacks are powerful and hard to contain if they are executed to perfection. According to this IBM study, data breaches in 2020 resulted in massive losses for organisations worldwide: up to US$ 3.86 million. More importantly, another study found that the average time to detect a data breach can be up to 206 days,
As the name suggests, organisational insider threats are the cybersecurity hazards caused, intentionally or unintentionally, by persons (employees, business partners or other internal stakeholders) related to an organisation. There can be several reasons for internal stakeholders to turn into threats for an organisation: Using company data for fraudulent financial gains,
Many data security experts believe that the number of state-sponsored cyber-attacks will continue to rise in the near future. Big organisations in any country represent the most attractive and vulnerable targets for state-sponsored cybercriminals. Such organisations' data security measures are no match for the tools and techniques used by the criminals to break into their databases.
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