Why are companies focusing more on gaining trust when it comes to cyber-security?

Before going into further discussion, it’s essential to understand why cybersecurity has become a significant challenge for companies in the last few years. Cybersecurity relates to secure vital intellectual property and business information in digital form against theft and misuse. The continuous increase in cyber attacks in organizations emerged as the biggest threat. The US government took it as a serious national and economic challenge because of the exponential growth of IT sector.

In a fiercely competitive environment, companies must avoid cyber attacks to gain the trust of their customers. In cyber attacks where threats of cybercriminals or malicious employees to release sensitive customers information or engaging in any online fraud, definitely breach customers trust over them.  In an interview with IT security leaders of top global companies – revealed, what steps are being taken to spot, and prioritize IT security risks as well as developing mitigation strategies to combat cyber attacks.

Cybersecurity Threats by Insider

One of the top IT company reveals that insiders perform 60% cyber attacks, it’s by an action, or failure, of someone inside the company. So it’s important to know the primary types of insider risks involved in cybersecurity.

“Trust is fragile, and once lost, it is hard to rebuild” when it comes to sensitive information and privacy, companies are taking it seriously. Nobody wants to compromise with its business, but absolute elimination of threat is impossible, so protection is needed without affecting business innovation and growth.

Increased online presence

From shopping to social media, customers are connecting online after sharing their personal or sensitive information, which companies ask before using their services. Quite interesting online transactions and shared data are the biggest incentives for cybercriminals, stealing this information and using it for their profit or vendetta fed up customers which result in lack of trust over companies where they shared their information. In the future, they’ll tend to avoid company product and services, which lead to business loss.

Prime focus on Sensitive Data Management

Globally, every hrs. Huge data is generating by the interaction of day to day activities by customers, hence to secure these data is the prime concern for companies. Data is the key assets for any organization to evaluate their outcomes, creating plans and approaches, and to connect with their potential clients. As malicious employees or cyber attackers may destroy the database, means eliminating you from the competition in the quickest time, hence to stay in competition it’s much required to focus on mitigation strategies and approaches.

In the context of best practice, the organization must be attentive to these steps into their critical data management.

•    Defining sensitive information as per the organization point of view.
•    Knowing where data is being stored and who has the rights to access it.
•    Classification of data according to the importance and potential effect on the organization, if stolen or destroyed.
•    Eliminating old data, or protect it if usable anywhere