Blog
A recent report by the Council of Economic Advisorsestimates malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016.Jan 02, 2024
Cybersecurity
| A recent report by the Council of Economic Advisors estimates malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016. "Cyber threats are ever-evolving and may come from sophisticated adversaries," the council wrote in its report. "Due to common vulnerabilities, instances of security breaches occur across firms and in patterns that are difficult to anticipate." What are the sources of this mounting cyber-threat? A range from cybercrooks victimizing individual citizens with social engineering techniques and corporations with ransomware to international cyber-espionage between our nation and “bad actors” in countries such as Russia, China, Iran and North Korea. Industries most targeted? Manufacturing, government, healthcare and finance. The healthcare sector, in particular, has suffered record numbers of data breaches in recent years, prompting renewed attention to compliance with HIPAA regulations. How did the problem grow so large? A mix of factors contributes to today’s escalating cybersecurity crisis from the dynamics of globalizing cyberspace to the diversifying spectrum of emerging technologies. But two clear conclusions can be drawn from the current melee of malicious activity:
We believe adopting a strong framework for guiding policies and processes is a critical key to addressing both imperatives, as advocated in our “Manual Malware” series of posts. And central to this effort must be cybersecurity awareness training. How can you be sure to educate your organization properly? For insights, CIO magazine asked a group of tech executives. Here’s a digest of best practices they offered:
|
 |