With ransomware and phishing attacks on the rise, companies must continuously focus on cyber risks to protect assets and customers.
CEOs put these events as the ones that cause them the most worry:
- Ransomware attacks – represent over $7.5 billion in 2019. Ransomware attacks have grown 72% this year due to the chaos surrounding the pandemic. CEOs list ransomware as their biggest worry ahead of fire and floods.
- Phishing attacks – 90% of all cyber attacks start with a phishing emails.
- Cloud security challenges – if your business relies on cloud infrastructures your business is open to enterprise cloud attacks.
- Social Media scams – are used to obtain individual and business information. Employees are maneuvered to click on malware-laden URLs, make a donation or give them access to business resource.
- CEO Fraud – phishing emails cost billions of dollars in the first half of 2020. Emails impersonating executives are sent to employees asking for fund transfers to cyber spoof companies.
CEOs must actively engage in ensuring cyber risks are monitored at all times. Putting together employee policies and procedures to actively safeguard against cyber events should be continuously tested and trained.