As data breaches increase in number and severity, governments and industry standards organizations use compliance as a way to ensure security. However, security is not the same as compliance, which may leave organizations struggling to check boxes while still leaving themselves open to data security risks. Thus, many companies look to find strategies to mitigate both risks and costs, turning to Cybersecurity-as-a-Service providers for the solution to their problems.
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The financial services industry is especially vulnerable to cyber attacks. ATM card skimming, Trojan botnets on web app logins, denial of service attacks, and vendor management problems plague financial services organizations, regardless of size.
A look back at cyber breaches in 2018 provides three big lessons for companies,. Third party data access, leaky web apps, and risks from mobile and IoT devices provide some insight into where you will want to button up your data ecosystem in 2019. Automaion, AI, and employees training are the three things to focus on in the New Yeak.
Frameworks like Enterprise Risk Management help guide process. The technology recommended to enforce Integrated Risk Management are a natural and important followup. You need to understand both to make sure you mitigate and manage your exposure.