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Article | February 22, 2020
This week was filled with wide-scale calamity. Hundreds of millions of PCs have components whose firmware is vulnerable to hacking which is to say, pretty much all of them. It's a problem that's been known about for years, but doesn't seem to get any better. Likewise, Bluetooth implementation mistakes in seven SoC—system on chips—have exposed at least 480 internet-of-things devices to a range of attacks. IoT manufacturers will often outsource components, so a mistake in one SoC can impact a wide range of connected doodads. The most troubling part, though, is that medical devices like pacemakers and blood glucose monitors are among the affected tech. YouTube Gaming, meanwhile, wants to take Twitch's crown as the king of videogame streaming. But its most-viewed channels are almost all scams and cheats, a moderation challenge that it'll have to take more seriously if it wants the legitimacy it's spending big money to attain. In another corner of Alphabet's world, hundreds of Chrome extensions were caught siphoning data from people who installed them, part of a sprawling adware scheme.
Cyber Security has quickly evolved from being just an IT problem to a business problem. Recent attacks like those on Travelex and the SolarWinds hack have proved that cyber-attacks can affect the most solid of businesses and create PR nightmares for brands built painstakingly over the years. Investing in cyber security training, cyber security advisory services and the right kind of IT support products, has therefore, become imperative in 2021.
Investing in cyber security infrastructure, cyber security certification for employees and IT solutions safeguards businesses from a whole spectrum of security risks, ransomware, spyware, and adware.
Ransomware refers to malicious software that bars users from accessing their computer system, whereas adware is a computer virus that is one of the most common methods of infecting a computer system with a virus. Spyware spies on you and your business activities while extracting useful information. Add social engineering, security breaches and compromises to your network security into the mix, and you have a lethal cocktail.
During 2019, new privacy laws were introduced, and many current laws evolved in the United States and across the global landscape. With the General Data Protection Regulation (GDPR) in full effect, we saw expensive fines levied upon companies that fell victim to data privacy breaches. As we move into a new year, probably the biggest takeaway from 2019 is that being proactive and having a data privacy strategy in place is important to help mitigate the risk of a data privacy breach. The regulatory landscape continues to evolve as states and countries actively pass new expanded requirements for privacy and cybersecurity regulations. While laws in the U.S., like the California Consumer Privacy Act (CCPA), are getting significant attention, many other states and countries are actively amending their breach notification laws to include tighter restrictions.
Next to your employees, your organization’s data is its most important resource. A data breach can devastate an organization’s finances and reputation for years. According to the 2019 Cost of a Data Breach Report, conducted by Ponemon Institute, the average total cost of a data breach in the U.S. is close to $4 million, and the average cost per lost data record is $150. Hackers are more sophisticated than ever and the value of data seems to rise every day. In fact, McAfee believes that 92% of organizations unknowingly have credentials for sale on the Dark Web or “dark net.”
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