In today’s digital landscape, cybersecurity criminals are constantly seeking for vulnerabilities and loopholes to exploit and gain access to high-value information systems. As seen in the recent New Vision article on cybercrime published on April 4th, 2024, the primary motivation is financial gain. With the increasing investment in cybersecurity technology for enterprise organizations, the focus is shifting from technology to the human edge, where mistakes can be made.
But here is the thing, according to IBM’s Cost of Data Breach Report, insider threats account for over 50% of enterprise compromise incidents. That’s right, sometimes the biggest threat to your organization’s security is the person sitting in the cubicle next to you. This, coupled with paper-based risk-driven measures, insecure system integration, and lax control mechanisms, adds to the complexity of protecting an enterprise’s most valuable assets. The overwhelming losses incurred by organizations due to cyber fraud highlight the need for vigorous and creative security measures.
So, what can you do to stay one step ahead of the cybercriminals? For starters, executives must play a role in ensuring the security of their organizations, rather than relying solely on the technical teams. You need to be proactive. This requires improving controls for transactional process flows, system integration points, and end-user awareness. Skilled teams, in-depth penetration tests, and AI-based tools for real-time anomaly and fraud detection are also essential.
Moreover, technology-enabled products and solutions must have built-in security from the design phase, rather than treating security as a bolt-on issue. This approach ensures a more effective and cost-effective implementation.
In their book, “Digital Transformation Northstar,” Emmanuel Mugabi, Rowena Turinawe, and Osbert Osamai provide valuable strategies for enterprise technology leaders to enhance cyber security measures. Preparation is key to protecting investments and an enterprise’s growth in this digital age, where cyber threats are on the rise.
With the right mindset and strategies, you can stay one step ahead of cyber criminals and protect your organization’s most valuable assets.
Also Read:
- 10 digital vulnerabilities and cybersecurity solutions
- Navigating the digital maze: A guide to online safety and cybersecurity
- My Cybersecurity Preview for 2024
- Hackers Predict: the biggest cybersecurity worries in 2024
Editor’s Note: By: Emmanuel Mugabi, Cybersecurity and Privacy Professional
