President and CEO
The words cyberattack and data breach are used near synonymously, they mean quite different things. Simply put, a cyberattack is primarily about cybercriminals getting unauthorized access to a computer or a network with the intent to harm.
The COVID-19 pandemic saw a rampant rise in cybercrime by as much as 600% with a large percentage of them (43%) targeting small businesses. The growth in cybercrime is also evident from over 2 million phishing sites that Google has registered as of January 2021.
In 2019, the Advanced Authentication Market in the U.S was valued at $9.75 billion, and by 2025, that number is expected to balloon up to $20.73 billion, an increase of over 112 percent.
Only 26% of nonprofits use round-the-clock surveillance and monitoring of the network environments. 56% still don’t use multifactor authentication and most worryingly, 59% are yet to provide any cyber security training to their staff members on a regular basis.
A survey indicates that the respondents lost a cumulative US $42bn with nearly 13% losing more than US$50 million. Despite the huge financial losses, only about half of the victims conducted an investigation.
With the requisite knowledge and appropriate tools and response mechanisms at their disposal, healthcare employees can be empowered to use caution in handling patient data and raise red flags whenever they come across significant anomalies or odd behaviors in the system.
It can be difficult to know how much your business should spend on cybersecurity – especially since every business’s security needs are different. Check out this blog to learn a few best practices from the experts for making sure your cybersecurity program returns on investment.