A syndicate of
cybercriminals can steal thousands, perhaps millions, of customer transaction
records containing, for example, credit card information from a single
business, like Equifax,
or batches of them, like the millions of small to mid-size businesses (SMBs)
operating in the U.S. Digital technologies enable these cyber crooks to operate
at any scale – from the quantity offered by a large enterprise to the quality
available from a cluster of small firms.
Why are these digital assets in demand among cyber burglars?
Analysts estimate this data can fetch $10 - $20 per file, as identity thieves
buy the information to make bogus purchases or establish phony accounts. And if
a stolen bundle of records comes, for example, from a healthcare
practice, an organization that stores personal data such as driver’s license or
social security numbers for insurance purposes, the price per file could be
higher because identity bandits conceivably can use this information for years.
The scenarios above become more and more lucrative with
time, as the digital ecosystem expands and more digital commerce between
organizations of every size and shape compile more proprietary data in
cyberspace. The logical progression is clear: As cyber-operations expand,
cyber-risk multiplies, cyber-threats intensify and managing cybersecurity
becomes imperative not only to growing a business, but to surviving as one – no
matter the scope or scale of a company. In today’s environment, cybersecure
leadership – from shaping strategy to ensuring performance -- has become a crucial
business issue. Here are the mega-trends driving this dynamic:
- Cloud – Studies reveal more than two-thirds of IT
decision-makers plan to increase investments in cloud computing in some form –
public, private and hybrid configurations. Today, these digital domains
increasingly transcend physical boundaries, exposing flows of data not only to
more businesses but potentially to any cyber-savvy party in any corner of the
- Mobility – The proliferation of “smart devices” and the deluge
of personal and professional data enable digital activity by any person from
any place at any time. The quantity of cell phones already outnumbers the
planet’s human population, and researchers predict nearly two billion workers
worldwide will work remotely by the end of this decade.
- Automation – The advance of Artificial
Intelligence (AI) and the insinuation of the Internet
of Things (IoT) blend digital operations into everyday life.
- Virtualization – The rise of “smart
assistants” for personal and professional support and the extension of reality
– i.e., Virtual Reality (VR) and Augmented Reality (AR) platforms – blend
digital identity with individual presence.
threats from broadening access elevate the value of digital assets, such as
customer, financial and product/service information.
the pace of business to digital speeds magnifies the material impact of any
digital disruptions in terms of lagging productivity and loss of profitability.
of regulation in overarching, increasingly digital industries, such as
healthcare and financial services, touches businesses of all kinds with the
costs and rigors
In combination, these three mega-trends make
managing cybersecurity without expert support a continuing challenge for any
business operating at any scope on any scale. Learn how Managed Cybersecurity
Services can help your business not only cope, but thrive, here