The Role Of Cybersecurity In Protecting The Executives Of A Business

More and more businesses are understanding the impact that cybercrime can have on their operations. As such, they’ve begun investing heavily into cybersecurity efforts to defend their organizations. It would seem these investments are perfectly timed, as data would point out that since COVID-19’s emergence in late 2019, cybercrime including phishing, ransomware, identity theft and even fraud saw a 600% increase.

Of course, a six-fold increase sounds frightening, but how has this truly impacted various organizations? Most web-based attacks, specifically malware, are often expensive issues to solve. On average, organizations must invest upwards of $2.4 million dollars to defend themselves. Any organization left vulnerable despite this security are often left without access to their data for upwards of a week.

Perhaps most alarming, though is the fact that nearly half of all IT professionals throughout the country are aware of the issue and cite their organizations remain vulnerable to attacks. Despite these professionals’ efforts, nearly 75% of all businesses that have been attacked report that they have the most up-to-date security protection. Just in 2020 alone, nine in ten businesses indicated they were the victim of some form of targeted ransomware attack.

Organizations as a whole can be targeted, but more often than naught the true targets of these attacks are the organization’s executives. Of course this is due to the fact that they have the utmost clearance and access to the most sensitive data. The fate of an entire company could be at risk if even one of the attacks is successful. This is why companies have begun investing so heavily in cybersecurity, while simultaneously exploring ways to avoid these targeted attacks on executives.

Protection of executives begins with an assessment of the social channels and accounts they currently have. Social media profiles, professional networking applications, even past publications can have an impact.  Identify where the most personal information is being shared and determine whether it should be public. Attackers may target an executive strictly based on how vulnerable they believe he or she is based on the information available online. The less information shared the better for executives.

While ensuring their personal information is safe from the web, the most important aspect of safety for these executives is their knowledge of the attacks. Ransomware and phishing attacks can look so sophisticated that executives would think they’re otherwise harmless. Insisting they pay closer attention to detail can make all the difference into their vulnerability. Some examples of how this can make a difference are executives understanding that any e-mails from senders outside of their contact lists, are likely meant to deceive. The same can be said for unsolicited phone calls asking for personal information.

Navigating through the cybersecurity space is not easy for every executive. If you’re on the hunt for more tips and tricks on how to keep your business safe from these attacks, take some time to check out the infographic shared alongside this post. Courtesy of Cancom Global Security.