‘Tis the season for tricks and treats, but don’t let your organization be tricked this Halloween by data munchers! A recent MIT survey indicates that 92 percent of survey respondents from companies around the globe believe the risk of doing business is changing due to the nature of the digital economy. One of their top concerns is cybersecurity. In this BlogBytes, we’ll examine the topic of data security in the cyber climate and how LTO technology can help protect an organization’s digital assets.
An Attack Can Be Costly
The MIT survey findings indicate that 95 percent of respondents believe risk will increase over the next two years – with cybersecurity and supply chain at the top of their risk concerns. When asked to rank their key concerns about cybersecurity, participants ranked loss of customer data and reputational damage with customers at the top. In the past year, it is estimated that there have been more than 42 million cybersecurity incidents worldwide, with average losses for a large company at $5.9 million. You don’t have to be a large company to experience a cyberattack!
As defined by techopedia.com, a cyberattack is the deliberate exploitation of computer systems, technology-dependent enterprises and networks. Cyberattacks typically use malicious code to alter computer code or data, resulting in disruptive consequences that can compromise data and lead to cybercrimes, such as information and identity theft or even data destruction. It can come in many forms including: malware, pharming, phishing, spamming, spoofing, spyware, ransom-ware, Trojans and viruses. Cyberattacks may also occur with stolen hardware, such as laptops or mobile devices. A cybersecurity plan is essential for all organizations.
Most IT experts would agree that a strategic approach is needed to address cybersecurity.
According to staysafeonline.org three major considerations are required:
- Prevention: Solutions, policies and procedures need to be identified to reduce the risk of attacks.
- Resolution: In the event of a computer security breach, plans and procedures need to be in place to determine the resources that will be used to remedy a threat.
- Restitution: Companies need to be prepared to address the repercussions of a security threat with their employees and customers to ensure that any loss of trust or business is minimal and short-lived.
All three parts of a cybersecurity plan are important. Let’s take a closer look at “prevention.” This includes employee education on how to handle and secure critical, confidential information, the physical security of buildings and computers, enforcement of password procedures and security codes and IT safeguards including firewalls and secure data retention.
Cyberattacks on data occur when the attacker breaks into the computer infrastructure to obtain data via electronic means, including: hacking, viruses and malware. Therefore, an organization should implement a process that prevents electronic access to their important data. LTO technology helps prevent electronic access to the data because a tape cartridge removed from the system is no longer accessible electronically. Disk drives remain on-line and are potentially vulnerable to an attack. With tape, there is an “air-gap” between the cartridge and the computer systems. This means that there is no electronic connection to the data on the tape cartridge. In addition, an LTO cartridge can be encrypted by the tape drive, enabling a virtual data lock that helps prevent the information from being read if the cartridge were to land in the wrong hands. This is secure data retention!
This Halloween, and all year long, protect your company data assets by utilizing LTO technology. It is a strategic component in a cybersecurity plan – a treat that keeps your data safe!