Say No to Cyber Threats!
Oslo based Norsk Hydro, one of the world’s largest producers of aluminium had to shell out up to $52 million post a cyber-attack this March that paralyzed its computer networks. The company posted an 82% drop in first-quarter core profit and that in turn led to a rise in global uncertainty, thus impacting its markets.
The Norwegian giant’s operating result fell to 559 million Norwegian crowns ($64.3 million) from 3.15 billion crowns the previous year, while experts at Reuters had estimated a profit of 123 million crowns. In terms of operation, Hydro had to isolate all plants and operations and switch to manual operations and procedures & temporary stoppage because of a lack of ability to connect to the production systems. Apparently the ransomware LockerGoga had played devil in this case.
Within a span of 2 weeks, 2 cities in Florida succumbed to Cyber-attacks. While Riviera Beach paid $600,000 hoping to decrypt their important files from a phishing email attack, Lake City shelled out $500,000 to battle a similar ransomware incident.
The world has not yet forgotten the infamous 2014 malware attack on technology giant Sony wherein Sony Pictures Entertainment was attacked by malware. Around 100 terabytes of data, including large quantities of confidential information like as film scripts, emails and personal data of employees, was stolen. Before that, in April 2011, Sony’s PlayStation Network was attacked. The multiplayer gaming service, online gaming purchasing and live content distribution of the company had the personal data of 77 million users that was compromised, not to forget theBanking information of thousands of players.
The recent cyber security breaches are truly evolving, in both number and nature. Research shows that ransomware attacks a business every 14 seconds and will cause global damage of $11.5 billion by the end of 2019. While the numbers are scary, the nature of cyber-attacks is equally worrisome as they are no longer simple and limited to only confidentiality and availability of data. They have become highly sophisticated with a real threat for integrity attacks thus making it a daunting task for a security agency to provide foolproof security to an organization’s networks. While the business operations crash or are temporarily stalled, the deeper impact comes as a dent in client faith for the company in the aftermath of such a fiasco. The negative sentiments are thereafter often reflected in stock price dips and lower business profitability affecting economies.
Some of the Do’s and Don’ts that Organizations can follow to thwart such cyber-crimes are:
- Knowing and understanding the latest information security news is one the biggest mistakes the organizations make.
- Identifying the organization’s most valuable information requiring protection; identifying the threats/ risks facing that information.
- Invest in a robust Cyber Security solution based on several lines of defence and a comprehensive approach.
- Educate the Employees or human firewalls on the best practices of network security.
So, Would You Rather:
- Fall prey to cyber-crime or secure the end points of your business by employing the right security controls?
- Spend millions of dollars post a cyber-attack or incur a reasonable amount to have an end to end cyber security system in place?
- Go berserk trying to recuperate from the data loss or proactively safeguard data and all things at stake?
If the answer to the latter part of all these questions is a “Yes”, look no further! IPMC has curated well-structured cyber security solutions that render advanced end user & centralized network protection, with the help of security experts like SOPHOS. Speak to our Cyber Security expert to better understand how we can help your business feel and BE safe.