Since early May, the city of Baltimore has been under siege by ransomware. The offending ransomware, called Robinhood, has encrypted data needed to perform several city services, and its creators are demanding a payment of 13 Bitcoins—about $113,000—to restore the city’s files.
Ransomware attacks on cities have been increasing around the country. For example, in March 2018, Atlanta was compromised by a ransomware attack that ended up costing taxpayers millions of dollars.
If you suffer a security breach, there’s a good chance it will come from within your company. It’s even more likely that the incident won’t be reported.
A recent Carnegie Mellon report found that 50% of incidents involving the exposure of private or sensitive information were the result of insiders.
Compounding the problem, according to Gartner, nearly 60% of workplace misconduct goes unreported. And because insiders tend to cover their tracks, their attacks are more difficult to uncover in the first place.
To make matters even worse, when insiders are caught, the issue is often downplayed or handled internally to avoid the publicity that might result from prosecution.
In this article, we’ll speak with an expert in the field, define the different types of insider threats, and discover practical ways to reduce internal security risks.
Note: This document, while intended to inform our clients about the current data privacy and security challenges experienced by IT companies in the global marketplace, is in no way intended to provide legal advice or to endorse a specific course of action. For advice on your specific situation, consult your legal counsel.
In the year since GDPR took effect, regulators have given millions of reasons to take it seriously: $57 million to be exact, the amount Google was fined back in January. And though the world’s largest internet company was the first to be fined, small businesses have faced the most difficulties.
GDPR‘s biggest impact, however, has been its role in fundamentally altering the conversation about data privacy.
By 2030, IT’s primary focus will shift to providing strategic business value by delivering innovative products and services. However, traditionally siloed and process-driven IT departments are not well suited for the speed and adaptability needed to take advantage of emerging digital business opportunities.
This means that IT and business strategy must be aligned to boost the responsiveness and agility that will be required to compete in the future. This can be accomplished by embracing collaborative management techniques and increasing autonomy among IT staff. To build context for the future of IT, here are a few of my predictions for information technology in the year 2030:
We usually associate blockchain with cryptocurrencies: Its application in other industries remains untapped, as it’s still in the nascent stages of development.
But in a short time, blockchain has emerged as a key financial technology (fintech) that can enhance financial management for small-business leaders and finance managers.
Key blockchain for finance facts:
- Blockchain has the potential to secure financial transactions with the use of advanced cryptography.
- Blockchain enhances financial compliance and transparency by creating a decentralized ledger for small businesses.
- Blockchain is gaining traction among business leaders as more proof of concepts (POCs) have emerged that can be applied in finance for small businesses.
However, like other emerging technologies, such as AI and machine learning, small business owners and finance managers face some key challenges in understanding the impact of blockchain such as:
- Thirty-one percent of small business owners aren’t sure which technology is the best fit for them.
- Eighteen percent of small businesses find it difficult to integrate new technology with their current technology setup.