The best way to minimise the damage of a cyber attack is to be prepared.
There is a difference between a security breach and a data breach; a security breach is a break-in, whereas a data breach is when a cyber criminal gets away with information.
During the COVID-19 pandemic, the global average cost of a data breach increased from US$3.9m to US$4.2m. Costs were significantly lower for those organisation with more mature security policies for procedures, and higher for those that lacked in areas such as security AI and automation, a zero-trust approach, and cloud security.
Cyber Security experts have outlined to ICAEW the six key steps businesses need to take in order to protect themselves:
- Take a zero-trust approach.
- Take a whole organisation approach.
- Spend wisely
- Keep systems patched and passwords complex
- Keep users aware
- Stress test
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