Cyber Security 

Mitigate risks of an enterprise data breach

Cybersecurity is the practice of protecting computers, servers, mobile devices, electronic systems, networks, and sensitive data from malicious attacks. Also known as information technology IT security, cybersecurity measures are designed to mitigate threats from inside and outside the organization.

The global cyber threat continues to develop in size and scale, with yearly data breaches. Medical services, retailers, and public entities are top targets for cybercriminals. These sectors are particularly appealing to cybercriminals because they collect financial and medical data, but any industry that uses networks can be a target.

  • The average cost of a data breach as of 2020 was $3.86 million

  • More than 90% of healthcare organizations reported at least one security breach in the last three years

  • Cybercrime To Cost The World $10.5 trillion annually by 2025 

These statistics have prompted corporate audit committees to increase their focus on cybersecurity. They are also looking at risk-mitigation strategies for responding to breaches and the ability to protect the company from possible shareholder lawsuits.

The malicious insider also poses a severe threat to cyber security. Data breaches often result from malicious insiders working for themselves or cooperating with outsiders. As the federal government and individual states add muscle to privacy breach laws and enforcement, insider attacks are becoming more widely revealed. The SEC now requires breach disclosure of 'material losses,' which forces the company to be transparent and accountable for allowing bad actors to go unpunished.

Cybersecurity risk is increasing with the adoption of Cloud and BYOD (bring your own device), which is unknown and unregulated territory. Organizations are updating corporate policies, IT security, and risk-management plans to mitigate these risks to fulfill legal obligations. 

SafePaaS Risk Advisors are industry experts working with internal IT security teams to manage cybersecurity risks. We also collaborate with management teams, including general counsel, information security, and human resources, to ensure a risk-based response to security threats.