When it comes to making smart investments protecting yourself from cyberattacks is vital. Hackers are getting more sophisticated, which is why it’s essential to invest in data security and safeguard your personal investment against cyber-attacks.
With the increase in cyberattacks and the increase, many companies are seeing significant financial impacts. The costs of managing cybersecurity breaches include financial fines, lost productivity and damage to reputation. The most significant result is usually a loss of customer trust, which can result in long-term losses in revenue.
This is especially applicable to investment finance companies. They are responsible for safeguarding important personal and financial data while ensuring they comply with specific regulations like Sarbanes-Oxley, Gramm-Leach-Bliley and PCI DSS. This, in conjunction with the sheer amount of sensitive information they manage and store, makes them susceptible to security breaches that can cause significant financial loss and damage to their brand.
It’s great news that implementing best practices in security administration can reduce the risk of risks and guard against common threats. This includes creating an awareness culture, providing regular training and focusing on human firewalls. Human error is the reason for 90% of security breaches.
Another way to strengthen your security posture is to restrict access to sensitive information to those who need it most. This is particularly important for situations in the field, such as conflict zones and other destabilized areas where legal and government entities could seek access to sensitive information in the field.