What is cyber security and why should I care?

cybersecurity.PNG

A report from Media technology Monitor found that Canadians spent about 24.5 hours online per week in 2016. In 2015 it was around 22.5 hours. If my friends (and my kids) are anything to go by, it’ll be up this year too. The report also found that a staggering 91% of Canadians have used the Internet in the past month. Our personal lives and work lives are inexorably linked to our devices, so it’s becoming more and more important to stay safe.

The 2018 PWC Investor survey just came out in February. Investors and analysts have put cybersecurity right on top of the business threat list. From the phone to the laptop – if you are online as much as I am – you should be concerned.

What is cyber security?

 

Cybersecurity incidents are not going away. If anything they will continue to grow, and get worse. In Canada alone, attacks have increased 160% year over year.

The Institute of Risk Management states that cyber security “attempts to arrest any risk of financial loss or damage to the reputation of an organization from the failure of any of its IT systems.” It’s really about trying to stop cybercrimes that are out to get your (or your customer’s) money and/or data. Many companies have found themselves in a public relations nightmare, struggling to recover lost data and prevent further theft.

Determining your personal cyber risk

 

The size of your business doesn’t really matter – cyber criminals are lurking around every corner. If you recognize any of the scenarios below in your company – it’s probably time to beef up security.

·       Building access is public

·       No ID cards

·       Employees use computers to access bank accounts

·       Little or no password policy

·       Insufficient data backup systems

·       Insufficient cyber security policy review every few months

·       Employees/customers accessing your system remotely

·       A Bring Your Own Device (BYOD) policy

 

Sadly, we’re all going to face more cyber-attacks in the future. Understanding your risk level – and where threats can emerge from – are great weapons for personal safety. A good risk management firm can help.

What measures are you taking to beef up your cyber security?