Cyberattacks are an important reason to make wise investments. Hackers are more sophisticated than ever, therefore it’s vital to invest in reliable security for your data and have your personal investments safe against cyber threats.
Cyberattacks are becoming more frequent, and this has a significant impact on numerous organizations. The costs associated with cyber-attacks can include financial fines, lost productivity, and damage to reputation. However, the most devastating result is usually a loss of confidence in the customer, which can result in long-term losses in revenue.
This is particularly true for investment finance institutions. They are required to safeguard highly valuable economic and personal information while adhering strictly to regulations like Sarbanes-Oxley. Gramm-Leach-Bliley, and PCI DSS. This, combined with the volume of sensitive data they handle and store, leaves them vulnerable to security breaches that could cause financial loss of a significant amount and damage to their brand.
The good news is that, by implementing the best practices approach to security management, you can be able to protect against common risks and minimize vulnerabilities. This involves establishing the culture of security awareness as well as ongoing training and a focus on human firewalls. Human error is the reason for 90% of security breaches.
Limiting access to sensitive data to those who are most in need is a way to improve your security. This is especially crucial for areas of operation, like conflict zones as well as other destabilized areas where law enforcement and government organizations may want access to sensitive data in the field.