Cyber threats have grown each year since 2004, when USA TODAY began writing about privacy and cybersecurity. In 2022, the global cybersecurity market is estimated to reach $156 billion, and by 2029 it is expected to reach $376 billion. Businesses and individuals are still not aware of the risks they face online and do not practice essential cyber hygiene. To protect themselves, they should read the book by Frank Riccardi, “Mobilizing the C Suite: Declaring war on cyberattacks.”
Riccardi explains how businesses have been focusing more on the Internet and cloud operations, without thinking about the consequences of data security. He believes it is the responsibility of C Suite leaders to understand the risks and take the necessary measures to protect their companies. Cybersecurity should not be seen as a cost, but as an essential necessity for businesses.
Small and medium enterprises (SMEs) are especially vulnerable to cyber threats, due to their financial limitations and skill deficiencies. To protect themselves, they should conduct a business risk assessment, implement basic cybersecurity controls, train their workforce, and consider outsourcing cybersecurity to a security services provider.
Strong passwords and multi-factor authentication (MFA) can help protect businesses from brute force attacks and credential stuffing attacks. However, it is also important to train employees in cyber hygiene and warn them about the subtle ways in which cyber criminals launch attacks.
Finally, President Biden is taking action to increase cybersecurity across all industries, by partnering with private companies and providing incentives and regulations for SMEs. Businesses without the means and expertise needed to build a decent cybersecurity program may need to hire a cloud service provider to comply with compliance requirements.
Source: Thelastwatchdogs
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