Lack of Perspective Leaving Some Companies Vulnerable to Cyber Threats
A recent spate of high-profile attacks on some of the largest national and international businesses have damaged brand value, hurt revenue and somewhat sullied the names of those companies. With cybersecurity threats on the rise and becoming more advanced every day, why does it seem that some organizations are ignoring the potential threats?
A potentially short-sighted answer
CBS Moneywatch pointed out that some companies aren't especially concerned with attacks on their information technology infrastructure because the financial damage incurred during these events isn't yet significant when compared to overall revenue. In other words, these businesses aren't worried about having their cybersecurity compromised because the financial penalties aren't yet high enough to encourage change. While the math used to calculate risk versus reward in the current environment is accurate, these companies aren't seeing the big picture or the longer-term problems of allowing their valuable, sensitive information to be accessed and duplicated for nefarious purposes. There are costs incurred beyond direct reimbursements, insurance and other considerations.
"It can be especially difficult for organizations to bring back customers after a breach."
Reputation and continuity
A breach of consumer information obviously damages relationships and can lead to a negative mark on individual and larger cultural opinions of a company. It can be especially difficult for organizations to bring back customers once a data breach has occurred - and this applies to both business-to-business and business-to-consumer organizations. Viswanath Venkatesh, a professor of information systems at the University of Arkansas, told CBS Moneywatch that some of these intangibles will quickly add up. Additionally, the type of response provided can go a long way to influence opinions.
Of course, a threat may not even target consumer information at all, but rather the vital information used by a business to carry out its day-to-day and high-level functions. Hackers aren't only after consumer information - they also want the valuable data held in business servers that relates to operations, equipment, organizational finances and more.
Many routes for attack
As Forbes pointed out, the number of different avenues available for hackers trying to tap into the sensitive data of a business is significant. Without strong
cyber threat intelligence and the right protection for valuable data, businesses are at risk of compromising their own operations. NC4 Mission Center provides the security, intelligence and flexibility needed for organizations to protect themselves without limiting authorized access or reducing productivity.
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