There are growing instances of cybercriminals exploiting brands of organisations worldwide to target their customers, partners, or the general public.
A recent Interpol report showed an alarming increase in the rate of cyberattacks in the four-month period from January to April 2020.
Around 907,000 spam messages – which were all related to COVID-19 alerts, 737 incidents related to malware and 48,000 malicious URLs were detected by one of Interpol’s private sector partners.
The fact that all systems connected to the internet appear vulnerable to cyberattacks is quite alarming, especially within the context of smart cities.
As systems grow more complex and become more interconnected when handling more information, their exposure to vulnerabilities increases, whether due to malicious intent or human error.
With a major focus on digital transformation and development of smart cities, the UAE is making rapid advancements in artificial intelligence (AI) and big data, in tandem with the sweeping transformations of the Fourth Industrial Revolution.
The flip side to development is that data will be at risk of piracy or privacy violation.
Because cybersecurity threats keep modifying and evolving constantly, companies must define the right security processes and back them up with up-to-date policies and procedures.
Commit to fortifying data assets by investing in security products and technologies tailored to your needs across all layers, including application, network as well as physical security, while constantly maintaining the latest patches and updating the products.
Rapid technology advancements mean that security top brass need to invest continuously in improving and monitoring their organisation’s cloud security protection layers
Staff who perform privileged identity and access management roles must be properly educated on the importance of adhering to strict security protocols. Being lax about enabling multi-factor authentication on cloud provider accounts is tantamount to leaving the door open to cybercriminals.
Rapid technology advancements mean that security top brass need to invest continuously in improving and monitoring their organisation’s cloud security protection layers.
The function can be likened to keeping a house in pristine condition – maintenance should be a constant. Identifying and responding to security incidents and data leaks and managing access to cloud accounts should top the list of security concerns, especially for organisations more vulnerable to technology hacks.
The most important consideration should be your service provider’s capabilities to build strong policies and measures and rectify bad configuration. In many cases, choosing a weak service provider based on budget concerns can be an open invitation to cybercriminals.
Data breaches like the theft of 117 million LinkedIn accounts in 2012 that compromised emails and passwords are designed to steal personal information. Attackers exploit that information to break into other accounts, attempt to steal identities and so on.
A very big part of any security strategy is trust. In case of a data breach, being transparent with your customers, employees and stakeholders will go a long way in helping rebuild your company’s reputation. By being transparent and communicative an organisation can reduce the financial impact of that incident.
Choosing a weak service provider based on budget concerns can be an open invitation to cybercriminals
You also need to ensure you remain transparent with those inside your organisation as well, keeping all C-suite executives, department heads and key stakeholders aware of any potential risks as well as changes to the overall security strategy.
Information and data are key enablers of an organisation’s daily operations and, as such, need to be protected with proper attention and care. Organisations should follow the set of standards published by the International Organisation for Standardisation (ISO), which provide requirements, guidance, and recommendations for a systematic approach to protect information, in the form of an Information Security Management System (ISMS).
We must create a culture of cybersecurity that imagines worst-case scenarios and explores a range of solutions to mitigate threats to our organisation’s technology ecosystem.
This should involve prioritising funding for cybersecurity, establishing stronger cybersecurity policies and training employees in cybersecurity protocols. Success will require collaboration with IT and cybersecurity staff members, department managers as well as end-user staff.
Entities can ensure data security by maintaining up-to-date security policies and software, and continuously investing in educating their employees. Those hosting critical data should consider hiring white or ethical hackers to identify security loopholes in their system and accordingly safeguard themselves.
However, employee education is key because an organisation can take all the security measures to prevent hackers from attacking them, but their staff could prove to be the big weakness.
If they are not properly educated and trained on understanding and applying safety protocols, they could be the asset the cybercriminal will use to hack into systems. Â