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What is Cybersecurity?
Cybersecurity is one of those territories with strong vocabulary that can be intimidating at first. But it doesn’t have to be. Just as with any other practice, it has layers of development, which means you don’t have to dig deep if you’re not a technical person. Using the information that is relevant to you may be all you need. But as your business grows, your cybersecurity strategy should grow with it.
What do Hackers Want?
It’s no surprise that hackers want money, but the mere thrill they get from entertainment may shock you. Some cybercriminals attempt to attack your enterprise for the challenge, while others are after institutional secrets for industrial and geopolitical espionage.
“Historic compromises have included small-to-medium size financial institutions, likely due to the less robust implementation of cybersecurity controls, budgets, or third-party vendor vulnerabilities,” the alert continues. “The FBI expects the ubiquity of this activity to continue or possibly increase in the near future.”
There are two types of breaches: One targets information, and one impacts physical security. Most breaches that disturbed organizations in 2017 were predominately informational. Although it’s inconvenient and possibly harmful to a victim’s financial status, the loss of information doesn’t impact the physical safety of hacked victims. In 2018, it’s predicted that breaches will impact victims physical and personal lives.
Most Common Cyber Crimes
- Password Attacks
- Denial-of-Service (DOS) Attacks
Sometimes mentioned as cyber liability or data-breach liability insurance – is standalone coverage. It’s designed to help companies recover data loss from a security breach, network outage or service interruption. Cybersecurity policies are tailormade and vary depending on insurers because of prices and exclusions and are important to building a complete strategy for risk management and response.
“Today’s cybersecurity posture is not a onetime event but rather a state of mind, woven into the fabric of the business.”
– Ron Lenox, Cybersecurity Advocate