Many attacks on business networks are motivated by a desire to access and steal one of today’s most valuable commodities – information.
This involves theft of confidential business data, intellectual property, financial information, personal information belonging to your customers or clients and any data that can be used to acquire money or sold to the highest bidder.
The majority of cyber attacks occurring today are ransomware attacks. The attacker gains access to your IT network and then encrypts your entire network and backup, if possible.
A ransom is then demanded, to be paid in untraceable cryptocurrency. If you pay the ransom, the attacker provides you with a key to decrypt your data. These attacks shut down entire businesses and are incredibly costly. Many businesses fail altogether following a ransomware attack.
Phishing attacks, email scams, viruses and malicious code all threaten your business and potentially leave you exposed to exploitation at the hands of opportunistic cyber criminals looking to cash in on your resources.
These programs can cause your computers and IT network to bog down with poor performance and your business suffers as a result.
How long would your business survive if it was forced to shut down entirely?
As the business world embraces technology to achieve unparalleled efficiency and profitability, we are exposing ourselves to a whole new risk – cyber attacks.
Many attacks are aimed at grinding your digital and IT network to a halt and stopping your business from functioning.
The inability to communicate, to receive and fulfill orders or produce goods and services results in lost revenue for businesses on a massive scale.
While cyber attacks continue to become more frequent and damaging, people and businesses are not adequately protecting themselves against the threat.
Complacency is confounding the issue and ingoring the threat is no longer an option.
Recent statistics show that 1 in 5 Canadian businesses experienced a cyber incident that resulted in an average of 23 hours of downtime per incident.
Statistics show that victims invest in cyber security following an incident. Don’t wait until it’s too late.
As communication, data storage and commerce migrates to the cloud in ever increasing numbers, cyber criminals have identified the cloud as an opportunity to target vulnerable victims.
This is not solely a business issue as many personal accounts are hacked as well, including iCloud, Dropbox, Social Media Accounts, financial accounts and email accounts.
Most mobile devices are backed up to a cloud account as well.
If proper security measures are not enabled, the damages are significant.
Cyber crime has been on the rise globally for years and it shows no sign of slowing down. Cyber crime pays and there are plenty of vulnerable victims out there. Don’t let your business be one of them.
Having a robust cyber security program is a great start. Having a plan to respond to an attack is another great idea.
An incident response plan is essential to efficiently and effectively responding to a cyber attack on your business.
Whether the attack is a data breach or a ransomware attack, having a digital forensics team as a central part of your response plan is critical.
We can quickly capture and preserve important data that will be useful in determining the means of the attack and the activity of the unauthorized intruder during the attack.
Cyber attacks are more prevalent now than ever. You may be attacked more than once and you must always be vigilant in managing the risk to your business.
Additionally, your business may be under a legal obligation to report these incidents to the Government or your clients.
Since your legal obligations following a cyber attack depend on the unique facts of your situation, you need to find out what happened.
Knowing all the facts following an attack will give you a crystal clear understanding of exactly what happened, allow you to get legal advice from a well qualified privacy lawyer and give you an opportunity to reevaluate your cyber security program to make any necessary changes to minimize future attacks.
Canadian businesses are now under various Federal and Provincial obligations to report cyber attacks to the Government or their clients, depending on the nature of the attack and the information accessed by the hacker.
Would you want to call your clients to report a data breach?
Most businesses would prefer to deal with the aftermath of a cyber attack internally rather than involving Government regulatory bodies or telling their clients that they failed to adequately safeguard important and private data.
The damage to your reputation could be enormous.
Conducting a thorough post incident investigation allows you to determine the facts surrounding the cyber attack which allows you to learn your exact obligations to report the incident.