Cyber attacks against organizations continue to escalate with no sign of stopping. In fact, The Identity Theft Resource Center found 85,611,528 records were exposed in 2014 alone in the 783 breaches documented. These breaches left virtually no industry untouched and proved that bigger companies don’t necessarily deliver better data security (check out CSO’s list of the worst 10 breaches of 2014 here). What’s even more disturbing is how frequent and sophisticated these attacks are becoming, a fact early 2015 data continues to support.
Many companies often possess large amounts of personally identifiable information (PII), protected health information (PHI) and company-sensitive information. In such cases, hackers tend to look for data on businesses’ largest clients to exploit. However, safeguarding such information is technologically challenging and, many times, expensive. The decreasing cost of technology, while helpful to businesses, also makes it easier and cheaper for cyber criminals to disrupt systems and obtain access to sensitive data. Contrary to some belief, that means that data breaches are going to hit all size companies, not just the big ones. Moreover, PII and PHI are becoming more valuable on the black market, which increases incentives for cyber attackers.
As we’ve had conversations with numerous prospects in various markets, we are finding the holes in data protection are very similar across businesses. Of the companies we have surveyed, all are utilizing anti-virus software, tools to detect malicious code (spyware or malware), firewalls and intrusion detection tools. However, less than 50% are using any type of Enterprise Mobility Management (EMM) for securing and managing mobile devices (smartphones and tablets) that connect to company email or databases. When asked about this security gap, the most common IT support response was, “We can wipe the employee’s entire phone with Microsoft Active Sync.” Yes you can, but wiping the entire personal device could expose your company to a different kind of threat: a lawsuit.
With all of the recent data breaches, senior management is starting to realize the true breadth of impact a cyber attack can have. In fact, many Fortune 500 companies are requiring verification from their partners about data security and mobile device protection. Some companies don’t see the immediate threat because smartphones have only been around for 10 years, and use for business purposes has skyrocketed in just the last five. But with more than 335 million U.S. mobile subscriber connections (more than our country’s population), mobility has created a fundamental shift with how we interact with the world — so businesses take note.
Stay tuned for more about technology updates, data breaches and the proliferation of EMM. With Apple Watch, Google Glass and much more on the horizon, we’ve just hit the tip of the iceberg in these critical business areas.
Phil Poje | CEO, TechOrchard
A serial entrepreneur with more than 30 years of executive leadership and ownership experience, Phil has a unique understanding of the challenges that exist within the rapidly growing technology sector. Contact him directly at phil@techorchard.com to discuss innovative ways for overcoming those challenges and propelling your organization to new levels of success.
