Principles of an Effective Cybersecurity Strategy

According to MetricStream’s, ‘The State of Cyber Security in the Financial Services Industry’ report, around 66 percent of financial services institutions have faced at least one cyber-attack in the last 12 months. The cost of this can even result in a complete shutdown of the business."

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Data Privacy In The IoT Age

Data Privacy Age

Data breaches are becoming a bigger threat than ever in today’s IoT connected world, according to this CEB blog’s infographic. A data breach is costing companies an average 4 million U.S. dollars, and that statistic is on the rise. The average cost of data breaches has already gone up 13% since 2014 alone.


There are four major factors that have been identified as the cause in this epic rise. 64% of employees access personal technologies such as social networks and email from work, creating a major hole in a company’s ability to ensure the flow of data is through trusted sites only. 65% of IT executives have been found to claim responsibility for technology use and information security, but they manage the company’s information technology very poorly. And while 79% of senior executives admit that finding new uses of data is key to encouraging growth, 69% agree that they can’t keep up with the increasing speed and finesse of cyber attacks.

Another problem that has been found in the protection of data involves employee usage of company networks. While 75% of employees have access to customer contact information, 37% do not receive any form of information security training. Because of this lack of training, 58% of these employees violated a privacy policy in 2015 without even knowing they had done so. It should come at no surprise then that 60% of data breaches have been found to be caused by employee behavior.

By Jonquil McDaniel

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