Anyone who takes part in a corporate board of directors meeting these days is likely to hear conversations about cyber security and regulatory compliance. These areas have become so critical to the risk management strategies of organizations that they can’t be ignored by the very people responsible for guiding businesses to success in their markets.
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Many organizations today are adopting a multi-cloud strategy, using services from several cloud providers and deploying offerings such as software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS) to meet a variety of business needs.
Many people might tend to associate security breaches and malware attacks with large enterprises. After all, the attacks that grab the big headlines generally occur against global companies or large governmental organizations.
Even though Security Operation Centers (SOCs) are increasingly common, some 48 percent of organizations don’t have one, a recent survey shows. This creates many security challenges, such as: slower identification of intrusions, ad-hoc or no processes following a security breach, inability to efficiently protect the most valuable assets from advanced attacks, and delayed isolation of corrupted infrastructures.
The more “cyber security ready” a business becomes, the better its overall business outcomes. Unfortunately, many organizations worldwide are not cyber security-ready.
Failure to detect an advanced cyberattack or a targeted threat as soon as it occurs may lead to full infrastructure compromise, irreversible data loss, and financial repercussions from which some companies may never recover, according to a Bitdefender survey of 1,050 CISOs in the US and Europe.
How big a problem is ransomware for organizations, and is it getting worse? That depends on who’s providing the information about this cyber threat—although experts seem to agree that organizations need to continue taking ransomware seriously.
Cyber security executives are always looking for ways to keep a step ahead of the bad actors and the latest threats. Emerging technologies such as machine learning (ML) are providing a way to do that, and some IT and security leaders have begun taking advantage of tools that leverage these automated capabilities.
Four in 10 executives surveyed by The Economist Intelligence Unit say the board of directors should oversee cybersecurity policies, while 24% back creation of a specialized cyber committee.
Companies that use an EDR solution have acknowledged that a cyberattack can occur at any time, and traditional protection platforms can only address 99% of the threats in the wild. EDR tools focus on the last 1% of threats, allowing for much greater fidelity in incident investigations.
It looks like a lot of enterprises need to get their acts together when it comes to managing risk, and particularly the risk associated with cyber security threats and vulnerabilities.
If you think worries about cyber security in the cloud are dissipating as cloud services continue to proliferate, you’re mistaken. IT and security executives remain quite concerned about threats—maybe even more so than in the past.