Global Cyber Threat Evolution
Across the globe, the landscape of cyber threats continues to transform at a breakneck pace, resulting in a growing number of data breaches each year. In a rather alarming statistic, the first nine months of 2019 alone saw a staggering 7.9 billion data records made public due to data breaches. This figure is more than double the amount of data records exposed during the same period in 2018.
Diverse Targets, Common Threats
Entities such as medical service providers, government agencies, and even retail businesses frequently fall prey to these incidents, perpetrated by cybercriminals. Many of these nefarious actors find these sectors particularly enticing because of the highly sensitive data they can obtain. Nevertheless, criminals do not discriminate, and any company utilizing networks may find itself in their crosshairs due to the value of customer and internal data.
Rising Investment in Cybersecurity
With the undeniable trajectory of escalating cyber threats, the International Data Corporation projects that a staggering $133.7 billion will be globally allocated to cybersecurity solutions by 2022. Governments worldwide have responded to the mounting cyber peril by furnishing guidance to aid organizations in deploying robust cybersecurity measures.
In the United States, the National Institute of Standards and Technology (NIST) has crafted a comprehensive cybersecurity framework. This framework advocates for the continuous, real-time monitoring of all electronic assets to combat the propagation of malicious code and bolster early detection.
Systems Monitoring Across Borders
Furthermore, the significance of systems monitoring is underscored in guidelines put forth by the UK’s National Cyber Security Centre, encapsulated in the publication “In 10 Steps to Cybersecurity.” In Australia, the Australian Cyber Security Centre (ACSC) consistently releases directives designed to empower organizations to combat the latest cyber threats.
Securance stands ready to assist in the development of a robust Cybersecurity Risk Management Program. Aligned with the AICPA, the SOC for Cybersecurity mandates the establishment and continuous maintenance of a cybersecurity risk management program. This program affords users invaluable insights into risk management approaches and the specific IT components in use. While the implementation of this program is inherently flexible, all Description Criteria must be integral to the description, with no relevant components omitted, as these could significantly impact user choices.