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Why cyberattacks are more than an IT problem

Statistics show that a cyberattack is an event that can end a business, like a flood or someone throwing cigarettes in a trash can and burning down a building. Building codes were created to protect people and businesses from catastrophic events such as fires and floods. Financial losses from cyberattacks are now just as big a threat as these traditional attacks.

Business leaders must take steps to mitigate the risk of becoming victims of cybercrime and prepare their organizations to recover if an attack occurs.

Protecting your organization from cybercrime isn’t necessarily difficult, but it’s certainly a new business cost that we’re not used to. This is similar to how building codes enacted to reduce fire risk increase construction costs over time. And like a fire that threatens neighbors in the same or nearby structures, a cyber attack can affect multiple parties, both inside and in cyber neighbours.

Cybersecurity has multiple stakeholders

These cyber neighbors strongly suggest that we take the threat posed by cybercrime more seriously, given the widespread evidence that we are not paying due attention to it. Regardless of internal factors, there are external forces that pressure you to pay attention to cybersecurity.

  • If you can’t demonstrate basic cybersecurity hygiene, your customers may choose to go elsewhere.
  • Government agencies may fine us or disqualify our company from doing contract work.
  • Insurance companies are fighting back by refusing insurance or demanding inflated premiums with conditions of insurability.

We may not be too concerned about cybersecurity risks, but the market is becoming more and more concerned. indicates that there is

Why cybersecurity belongs to the C-suite

Sarah Christie.

MSPAlliance CEO Charles Weaver recently said: The IT department may be responsible for protecting the organization from cyberattacks, but it is the executives who must set the tone for the entire company. Management must provide the company with the right tools to defend against cyberattacks (including people, technology, and processes) and create the rules for when an attack is successful.

“Such post-attack rules include incident response plans, public notices, disaster recovery, business continuity plans, and whether an organization will pay a ransom to get data back or prevent data from being exposed to the public. These are all important organizational decisions that can only be made at the management level.”

True protection begins with treating cybersecurity as a necessary component of the overall risk management process. Business leaders must commit to addressing it, creating plans and policies, and talking to employees about cybersecurity being everyone’s business.

And while there are several cookbooks on security best practices, it’s a good idea to find expert resources to fully understand your organization’s security needs and ensure your security program meets those business needs. Recommended.

Editor’s Note: Sara Christie is the Security Customer Relationship Manager at Mainstream Technologies. Opinions expressed are those of the author.