data-centric strategies driving success

Cyberattacks are an important factor in making smart investment. Hackers are more sophisticated than ever before, therefore it’s vital to invest in reliable data security and make your own personal investments protected against cyber-attacks.

Cyberattacks are becoming more frequent and this has a significant impact on numerous organizations. Costs of managing the aftermath of a cyber attack include financial penalties, lost productivity and reputational damage. The most significant consequence is often the loss of trust from customers. This can result in long-term revenue losses.

This is especially the case for investment finance firms. They must safeguard extremely valuable personal and economic information while adhering to specialized regulations such as Sarbanes-Oxley. Gramm-Leach-Bliley, and PCI DSS. This, coupled with the sheer amount of sensitive data they handle and store, makes them susceptible to security breaches that could result in significant financial losses and damage to their reputation.

The positive side is that, by implementing an approach that follows best practices in security management, it’s feasible to protect against common risks and minimize weaknesses. This means establishing an awareness culture with ongoing training, and an emphasis on human firewalls. Human factors are often neglected, but it is essential to a strong security framework since 90% of all security incidents are due to human mistake.

Another way to strengthen your security posture is by limiting access to sensitive information to those who need the most. This is particularly crucial when working in remote areas like conflict zones and other destabilized regions where legal and government agencies could try to gain access to sensitive data gathered on the ground.