Massive cyber, security breaches and attacks have many companies around the globe evaluating the risks to their systems. The Internet of Things (IoT) wave of connected devices linking physical objects, like your phones, computers, and tablets to the manufacturer or other devices, also presents new security concerns for your company.
While you’re likely busy and pressed for time, focusing on your security measures will pay dividends in the long-run, because the last thing you want to experience is what happened to Target in 2013. In that cyber breach, Target determined that hackers stole 40 million credit and debit cards, and took 70 million records that included the names, physical addresses, email addresses and phone numbers of customers.
If your company suffers a cyber-attack, the implications could be extremely serious, not only for your client’s data, but your company could face civil penalties too.
Should your company suffer a security breach, it could also face:
- Loss of its reputation, brand value and marketplace image;
- Loss of time and productivity;
- Increased costs of purchasing new technologies;
- Unanticipated costs for notifying government officials and authorities with the potential for monetary fines. Under Vermont’s Security Breach Notice Act, every business is required to send a confidential notice to the Attorney General within 14 days of discovering a data breach;
- Unexpected out-of-pocket costs to prevent harm to breach victims; and
- Cost of retaining attorneys.
The last thing you want to do is wait until a breach happens to learn whether your system is robust, safe and secure. To evaluate and protect your company against cyber threats consider taking these ten steps.
10 Steps to Evaluate Your Cyber Security
- Consider investments in SIEM (Security Incident & Event Management), which evaluates the risk of threat to your systems and assets and helps you to prioritize your spending and attention on the most at risk areas;
- Develop a Risk Identification Questionnaire, so you can better understand your level of preparedness if your company were to come under a cyber-attack;
- Create a contingency budget in case you must defend against data breaches;
- Allocate more resources to preventing, detecting and resolving data breaches before it becomes a big issue;
- Implement better endpoint security and intrusion detection/prevention;
- If your company has suffered a breach, then determine the root cause, and address that immediately;
- Evaluate your operations and compliance processes, and make necessary changes;
- Establish and train incident response teams to be ready for immediate response;
- Use data security effectiveness measures; and
- Enhance security monitoring practices.
While preventing a cyber-attack may seem daunting, costly and confusing, the consequences of doing nothing will likely be far worse.
About the author: Brian Cauble is Director of Sales & Marketing at Tech Vault [insert http://www.techvault.net/] – Vermont’s first commercial, LEED certified, carrier neutral, managed data center & co-location facility. For additional information about how you can leverage the Tech Vault secure data center, please contact Brian at: Bcauble@techvault.net, 802 862 5364 ext. 116