If you are like hundreds of thousands of organizations world-wide, somewhere in an office, warehouse or maybe on the dock sits a black box with a silver IBM logo, chugging along, powering your business’ most critical applications, every minute of every day.
When security incidents originate within the organization, whether through malicious intent or negligence, these incidents are considered as coming from “insider threats.” A recent IBM Security Study, “The Cost of Insider Threats,” indicated that 77% of these threats are related to employees accidentally sharing information (either through negligence or theft). The study included 204 companies with 4,716 insider incidents and placed an average annualized cost of $7.37 million on these incidents. While these costs, may not reflect what a small or medium-sized business might experience, the bottom line is these incidents result in significant expenses to the companies that are attacked.
Working remotely isn't a new phenomenon, but what is new is everyone working remotely. With that sharp increase in remote workers comes several challenges. In a business-as-usual environment, the decision to begin a work-from-home program would take weeks or even months of planning. Once the plan was developed, the concept would be tested and slowly rolled out while leadership managed and monitored how it was changing the business.
This methodical, planned approach completely shifted with the pandemic. In March 2020, many companies took "work from home" from concept to production in a matter of days. This was done out of necessity, and it is likely that in the haste of immediate action, lots of details were missed. Now that work from home is a reality, here are three things that should be top of mind.
“Ransomware damages are predicted to cost the world $11.5 billion in 2019, and $20 billion in 2021” according to ”Cyber Security Ventures 2019 Official Annual Cybercrime Report”. They go on to say that they predict that “a company will fall victim every 14 seconds by 2019, and every 11 seconds by 2021”. What many don’t realize is that these threats aren’t focused solely on large enterprises that can pay big ransoms, but instead take broad aim and seek to collect smaller ransoms from lots of companies. This focus on small to medium sized companies by hackers is often due to the fact that they have fewer security resources than their larger counterparts.