September 2022 | RISK MANAGEMENT
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Threats to cyber security and data privacy continue to grow, both in volume and complexity. Though this trend was already well underway, the outbreak of the coronavirus (COVID-19) pandemic magnified the issue. Today, organisations create more data than ever before, with much of it spread across a wider attack surface, placing it at greater risk.
During the worst of the pandemic, the location of data storage and methods of correspondence had to shift to meet the needs of remote workers. Many of these workers continue to utilise both company and personal devices in the course of their daily activities. With ransomware, business email compromise, phishing and other forms of cyber attack increasing, companies must ensure they have the necessary tools in place to protect themselves, their employees and their data.
In addition to increased attack vectors, companies are also facing higher expectations from regulators, with greater repercussions for companies that suffer data breaches.
Going forward, it is imperative that companies take proactive steps to tackle the threats posed by malicious actors. They must keep up to date with laws applicable to the data they process. They must also give employees the tools and training to help prevent breaches. Appropriate cyber security processes require companies to increase education and awareness among their staff, as well as across their third-party business partners.
Against this backdrop, Financier Worldwide turns to some of the leading lights in their field, who share their stories…
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