risk management

How Much Should You Spend on Cybersecurity?

What is the right amount to spend on cybersecurity?  According to Gartner, the average is approximately 5-8% of the IT budget. But a survey published in CIO magazine claims that amount is closer to 15%, with some executives claiming they spend upwards of 20% securing their data. How are those cybersecurity dollars being allocated? Secure…

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Helping Your Board Become Literate in Cyber Risk

It does’t matter the size of the business or the industry, a cyber attack will impact your business and the threats must be addressed at all levels of an organization. Even though Boards and CEOs may not be able to grasp all the technical details, it is still important to them that risk is quantified…

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How to Respond to Your Board’s Most Common Security Questions

With businesses having to navigate a global pandemic, increased phishing threats and a quick shift to a remote workforce, board of directors have been asking, “How secure are we?” Studies indicate that boards today are more informed about cyber-risk than ever and are using the increased focus on cybersecurity to guide business decisions. As boards…

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SEC Exam Priorities for 2020

The SEC has announced its exam priorities for 2020 On January 7, 2020, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) released its 2020 examination priorities. The OCIE will continue to examine firms’ abilities to manage risk associated with cybersecurity breaches and technology, including: Proper configuration of storage…

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Massive Marriott Cybersecurity Breach Ranks Among Largest Breaches Ever

Marriott has disclosed a massive Starwood hotel data breach that may have impacted 500 million customers.  The breach and unauthorized access to Starwood’s reservation network apparently stretched from 2014 through November of 2018. For approximately 327 million customers, the stolen information includes some combination of name, mailing address, phone number, email address, passport number, Starwood Preferred…

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10 Cybersecurity Myths you Should Not Fall For

Small and mid-sized businesses (SMBs) are too small to be targeted by hackers Hackers use small businesses to get to the big businesses. If a hacker uses a cyber attack on your business as a  stepping-stone to a larger attack, your partners are going to come after you big time. Small businesses are easy to…

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Who in your Business is to Blame for a Cybersecurity Breach?

The blame game starts as soon as the breach is detected. Do you blame the employee who clicked the phishing email link that launched the malware and implanted a rootkit? Do you blame the IT department at large or the CIO for not having the necessary security tools in place to prevent it?  Do you…

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What happens to your stolen data after you’ve been hacked

Once a hacker breaches your system and steals your data, whether it is PII or intellectual property, there are a few different pathways that stolen data can take — the main goal is for hackers to get that information into the hands of other criminals. The most common place for that data to land is…

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Addressing Unacceptable Consequences as part of your Risk Management Strategy

When developing a risk management plan, organizations spend a lot of time assessing their threats and vulnerabilities — and that is how it should be. However, there is no one-size fits all solution to risk management and we find that firms sometimes need help prioritizing where to budget. That is where consequences comes into play.…

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Could a Cybersecurity Breach Get You Fired?

As cybersecurity becomes a priority for managing business risk, C-level executives are being held accountable for cybersecurity weaknesses in their organization. With the recent deluge of high-profile breaches, CEO tenure is now at risk based on the effective control and protection of corporate assets. A cybersecurity hack could ruin a company. Board members (and stockholders)…

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