Data Security Should Be a Top Concern for Businesses in 2014 & Beyond

The Benefits of Utilizing a Third Party Archive System in the Financial Services Industry
February 11, 2014
Email Archiving Companies Improve Work Life
July 1, 2014
Show all

Information Archiving is Priceless as the Lack of Information Governance in Organizations Pose a Serious Threat for Businesses in 2014

Each year, the top online security companies like McAfee release a list of the top threats facing companies and its quite clear that data security is a growing threat for businesses. In 2014, following the JPMorgan Chase breach late last year, hackers and cyber criminals have increasingly targeted financial firms, placing these agencies at the highest risk level for security breaches.According to experts at Computer Weekly, it’s not a question of if a breach will occur; it’s just a matter of when.

When it comes to data security, businesses that follow information governance best practices by information archiving will be thankful they did with this year’s top security threats:

Microsoft Stopped Support for Windows XP

Support for this popular operating system ceased on April 14, but many companies are hanging on to it, especially since Windows 8 isn’t an attractive option to many users. Security experts fear that hackers have saved up special malware to exploit systems running XP, and with no security patches on the way from Microsoft, there will be no stopping them.

All companies, particularly financial firms, are urged to switch to Windows 7 or another supported operating system immediately, and to acquire appropriate cloud archiving so that data can be restored if a breach does occur. Also, be aware of any vendors or colleagues that might be accessing your systems from computers running XP.

Virtual Currencies are Making Ransomware Less Traceable and More Lucrative

Bitcoin and other virtual currencies remain an endeavor reserved for the fringe elements of the finance industry, but these currencies could affect your systems in an unforeseen way. It is driving ransomware, which can hold your system hostage until you pay up.

Since virtual currencies are so difficult to trace back to its originator, ransomware developers can easily use them to exploit companies, and finance firms are the deepest pockets they could hope for. Implementing and adhering to an information governance policy combined with information archiving can help you retrieve any data held for ransom without having to pay up to the criminals.

Hactivism

No industry is untouched by activists, and many activists are putting down their banners and slogans for another way to get back at those they hate — hactivism. As the name implies, activists are using hacking techniques to destroy or steal information from companies they deem horrible in order to further their cause. Data security is important. Have a backup plan that includes information archiving, it can protect you in the event that activists target your sensitive data.

Trends Toward BYOD

Bring Your Own Device — in so many ways this sounds like the perfect solution in today’s business environment, where work and personal time intermingle into a single thread. But security experts warn that these policies can be the undoing of companies in several ways. Employees (even executives) leave these devices lying around and they get into the wrong hands. People use insecure passwords. Mobile malware is on the rise even faster than computer malware, making BYOD mobile devices one of the riskiest of all security issues. Information archiving can’t prevent someone from getting into your system through one of these devices, but it can restore what’s lost if a breach happens.

The Lack of Information Governance is Proving Costly to Businesses

In a recent study on cyber threats in 2013 by the Poneman Institute sponsored by HP Enterprise Security sampled 234 organizations in six countries including the United States, United Kingdom, Japan, France, Australia, and Germany determined cyber-crimes are costly and cyber-attacks are common.  The study also revealed that the most costly cyber-crimes are those caused by denial of service, web-based attacks, and malicious insiders.  To avoid these attacks they recommend enabling technologies such as SIEM, application security, and Security Information and Event Management also known as SIEM.

Data security should not be overlooked. While everyone else waits to see what security problems 2014 brings, find peace of mind today by contacting Patrina for information archiving solutions to protect your sensitive data.

References:

http://www.computerweekly.com/opinion/Security-Think-Tank-ISFs-top-security-threats-for-2014

http://www.pcworld.com/article/2092226/the-top-5-security-threats-to-watch-for-in-2014.html

http://www.bloomberg.com/news/2013-11-18/cme-hack-reawakens-electronic-threat-to-financial-services-firms.html

http://wallstcheatsheet.com/stocks/jpmorgan-gets-hacked-how-secure-are-financial-institutions.html/?a=viewall

http://www.csg.ethz.ch/education/lectures/ManSec/HS2013/Ponemon2013CyberCrimeReport_Global_1013-1.pdf

Leave a Reply

Your email address will not be published. Required fields are marked *

Request A Demo
We will contact you shortly to arrange your demonstration.
We respect your privacy. Your information is safe and will never be shared.
Don't miss out. Subscribe today.
×
×
WordPress Popup Plugin