While healthcare organizations around the world grapple with the ongoing COVID-19 pandemic, hackers continue to bombard the busy industry with increasingly sophisticated cybercrimes. Ransomware attacks, in particular, have noticeably skyrocketed since the coronavirus outbreak started. Just this May 2020, healthcare giant Magellan Health fell victim to a ransomware attack that compromised its corporate servers.
As cyberattacks become increasingly sophisticated, cybersecurity leaders also continue to look for more effective ways to protect business data. Today, organizations are warming up to the idea of shifting from the “trust, but verify” mantra to a “never trust, always verify” approach. In a zero-trust architecture, all users are treated as potential threats and are not allowed to access data unless properly authenticated.
Ransomware remains a pervasive threat to businesses throughout many industries. As this type of cyberattack continues to increase and become more sophisticated, companies grapple to seek new and effective ways to protect their security systems. Putting preventive measures in place is good; however, organizations should go beyond just prevention.
The number of cyberattacks and fraudulent acts has been proliferating rapidly. Fraudsters have successfully made their way to access a victim’s financial resources through different schemes like stealing a victim’s personally identifiable information (PII).
Synthetic identity fraud remains to be a vexing problem for many financial institutions and organizations today. With its widespread impact and continuing proliferation, it is considered one of the fastest-growing types of financial crimes in the U.S. Significantly, without a comprehensive understanding of synthetic identity fraud, detection can become an increasingly difficult task. Although banks and other companies have been investing in technologies that offer help, financial crimes continue to surface, chiefly due to the lack of solutions that focus on detection and prevention.
Data governance is a crucial tool to ensure proper management and protection of data assets within an organization. It establishes precise methods to standardize business procedures, creates clear internal rules for changing processes, helps ensure risk management and optimization, and supports compliance with privacy and security regulations.
Today’s businesses are significantly maximizing the potentials of cloud-based workforce mobility tools for improved productivity and more advanced workforce management. However, the increase of users, devices, and applications accessing outside the enterprise perimeter has resulted in a rise of cyberattacks and data breaches.
Digital supply chain is currently gaining prominent recognition due to its greater versatility as compared to traditional supply chains. Because cybersecurity risks and third-party attacks have skyrocketed at an alarming rate, more businesses now prefer the digital way. However, cyber-related supply chain threats are always almost impossible to prevent. As businesses seek to leverage the potentials of this growing tool, new challenges also start to emerge.
Today’s cyber-vulnerable digital environment continues to pose a plethora of security issues to organizations of all sizes. This underscores the importance of securing a reliable cybersecurity framework to prevent these increasingly sophisticated cyberattacks from compromising a business.
The number of data breach incidents has continuously ramped up at an alarming pace. As the digital world progresses, cybercriminals have found various ways to infiltrate confidential and sensitive business data, posing profound risks of business disruption, financial losses, and reputational damages. To mitigate these, businesses and their cybersecurity experts must ensure that their sensitive data are safeguarded. They must come up with data security measures and policies as well as cybersecurity assessment tools and strategies to avoid potential data breaches.
With today's rapidly evolving digital landscape, cyber threats and data breaches are becoming more sophisticated in terrorizing businesses and organizations of any size. Furthermore, the constantly changing data protection and privacy requirements and policies add up to the complexities and challenges for companies. Without an effective response plan, these threats and issues may pose risks that could significantly disrupt important operations.
To keep businesses running efficiently even amid the COVID-19 crisis, different organizations shifted their operations to the "new normal" remote workforce environment. However, aside from the challenges of this sudden shift, the risks of cybersecurity attacks have also rapidly increased. Cyber threats have become more rampant, taking advantage of the situation and specifically targeting remote workers.
The security risk analysis and management obligations required by the Health Insurance Portability and Accountability Act (HIPAA) Security Rule are intended to play a crucial role in mitigating risks and vulnerabilities to the security and confidentiality of patient protected health information (PHI). Organizations that fail to implement these measures may be more susceptible to potential PHI breaches and could be confronted with costly regulatory fines.
In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will provide and present an in-depth analysis of the fundamentals as well as recent developments in How to Mitigate and Manage Third-Party Risks: Leveraging Tools and Best Practices. Speakers will also present all important issues surrounding this significant topic. Join us for this Knowledge Group Webinar!
As digital advancements continue to transform today’s landscape into a complex cloud-based space, companies become more vulnerable to potential data breaches and losses which, if not properly addressed, could profoundly affect business processes.
