Security and fraud Cybercrime is a growing issue for businesses in the UK and around the world. Meanwhile, only one in four businesses in the UK undertake formal cybersecurity awareness training. Businesses need to be aware that they can suffer attacks when it comes to the likes of dealing with invoices and payments, as well as other forms of data breaches.
Just today, I used Box to share and download files for work, called up Tile to find my keys, relied on Google Maps to run an errand while streaming a podcast to my AirPods, and connected via Skype with a colleague overseas. And that was all before lunch. As we interact with technology of all sorts, what security safeguards should we expect from the companies building the Internet of Everything?
For example, Congress has not required that Internet of Things devices accept security updatesnor that consumer information be fully encrypted to limit the effects of a data breach. We did see some progress under the Obama administration. State governments are continuing the effort.
And forward-thinking companies are beginning to apply concepts like active defense and corporate social responsibility to cyberspace. As cybersecurity regulations take shape, companies can choose to stay in the vanguard of progress — or simply react, following the rules as they develop.
Businesses of all types, not just tech-centered ones, can help keep themselves in the clear by putting cybersecurity at the forefront of their risk management efforts. A de facto standard of care Although Congress has done relatively little about corporate cybersecurity standards, the U. Though the NIST Cybersecurity Framework was not published long ago — the first version came out in — and is technically voluntary, more consultants are telling companies to follow it.
It is likely to be even more widely adopted if, as expected, it becomes a key part of an upcoming Trump administration cybersecurity executive order. Several dozen nations are rolling out their own similar guidelines. Pressure from the feds Under the Obama administration, the Federal Trade Commission pushed firms to improve their cybersecurity practices.
As a result of the suit, the FTC ordered Wyndham to create a comprehensive cybersecurity policy, get it approved by independent analysts and update it regularly.
That order is in effect for 20 years. It is too soon to tell how aggressive FTC cybersecurity and privacy enforcement actions will be under the Trump administration, though early signs are that they may ease somewhat.
California and New York are among the leaders, particularly in regulating data protections and requiring that customers be notified when breaches happen.
California law also now not only requires that firms take measures to protect data themselves, but also demands strict safeguards when companies share customer information with third parties.
Similarly, New York issued a new regulation calling for companies to regularly audit and actively test security measures, and set up multi-factor authentication. Moving from reaction to action Companies will need to move away from reactive, defensive approaches to cybersecurity and toward more actively managing risk.
That includes a range of technological and administrative shifts, some with financial costs: Protecting administrative accounts and network routers with strong passwords, encryption, regular software updates and frequent checks to be sure no unauthorized devices or users connect to the network.
Scanning data storage for sensitive personal information, blocking or deleting any that is not actually necessary. Removing unneeded programs and files from computer storage, uninstalling and deleting them to prevent unauthorized access during a future attack.
But these policies are just the beginning. There is a push among cybersecurity professionals to go beyond existing formal requirements and get ahead of both attackers and regulators.
This effort would seek not just to meet standards, but to exceed them. With ongoing, systemic cybersecurity risk management, companies can stay ahead of the curve, protecting their customers and society in the process.This applies to cyber security as well, of course, as there is always new information to process and new challenges to conquer.
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For example, earlier in the year IBM announced Watson for Cyber Security, a cloud-based version of the company's cognitive technology that’s trained on the language of security. Cybersecurity Resource Center Sign Up for Approximately million individuals were impacted by the cyber incident involving background investigation records OPM announced in bank accounts, checks, sex offenders, changes of address, and Social Security number traces.
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