Peter Makohon’s Post

Here's a few highlights from the 650 IT and cybersecurity professionals we surveyed for Optiv's 2024 Cybersecurity Threat and Risk Management Report: 1.) 61% of organizations surveyed had a data breach or security incident in the past 2 years.  2.) ~60% of respondents report an increase in cybersecurity budgets.  3.) 51% indicate cybersecurity tool purchases as a 2024 budget priority, but 40% say their organization has too many tools to achieve a strong security posture. Check out the report to see how your organization compares to what we're seeing in the field.

(Nice Infographic) Cybersecurity Control Insights: An Analysis of Organizational Performance found that while every industry in 2023 has a high pass rate for 10 of the 16 MVSP controls studied, many organizations are still failing on controls critical to protecting themselves against cyber incidents. 🔺 The findings indicate that organizations across all industries have several areas in which they must improve their vulnerability management program to reduce exposure to potential breaches. 🔺 Notably, 2023 Computer Software industry Fail rates for Dependency Patching and Time to Fix Vulnerabilities—which map to Bitsight analytics correlating to the likelihood of a breach—did not improve from 2020 rates as much as the macro average, leaving other industries vulnerable to third-party risk given their reliance on computer software. 🔺"These findings shed light on critical areas where organizations across all industries, including the computer software industry, are struggling to meet even minimum cybersecurity standards. 🔺 NOTE: FCI works with companies where we see the same vulnerabilities. Putting the right controls in place is everything. Nice study and infographic from Bitsight and Google. #fci #fcicyber #vulnerabilities #vulnerabilitymanagement #thirdpartyrisk #incidents #breaches #zerotrust #zerotrustsecurity https://lnkd.in/epemW8uU

Did you know that the projected number of vulnerabilities being tracked for 2024 is targeted to rise by 25% to 34,888? That is almost 3,000 new vulnerabilities each month! As an SMB business owner, you have a few choices: 1. Hope you fly under the radar and don't have any issues. 2. Ask your team to invest in improving areas such as vulnerability monitoring, patching management, or incident preparedness. 3. Make an organizational commitment to prepare your business for the future by working with a fractional CISO to help conduct a complete risk/security assessment, strengthen incident response preparedness, and educate and train staff. How can I help you with your decision? #VulnerabilityManagement #CyberRisks #InfoSec #CyberSecurity #SMBSecurity #FractionalCISO #IncidentResponse #PatchManagement https://lnkd.in/gFdXENN6

SMB and SME business's are definitely at a disadvantage when it comes to cyber security. It doesn't have to be that way. Taking a business first approach, we bring the knowledge along with the platform to assess cyber risk that is automated, provides real-time, data-driven decision making for executives as the below article discusses. We focus on the ensuring that your organization is resilient to attack and recoverable when it does happen. I have heard from multiple incident response and recovery experts that the majority of organizations they go into to deal with a breach and recover, don't have back-ups to recover from. This is alarming! Let's fix this problem and it is a problem, publicly reported breaches were up 78% last year, and how many were never reported? #CyberSecurity #SMBs #SMEs #CyberResilience #DataProtection #IncidentResponse #RiskAssessment #TechSolutions #ExecutiveDecisionMaking #BusinessContinuity #CyberAttackPrevention #RealTimeSolutions #CyberThreats #Octellient #ProtectYourBusiness

Cyber incidents are at an all-time high and organizations are scrambling to outpace threat actors to proactively protect their environments. Organizations want to know how they stack up against industry peers – from budgets to investments to overall cyber governance. Optiv has answered these questions and more with the release of Optiv’s 2024 Cybersecurity Threat and Risk Management Report.     In partnership with the esteemed Ponemon Institute, Optiv surveyed 650 IT and cybersecurity professionals to learn more about their cyber budget and investment priorities, as well as their governance and risk management activities.  Check out the report below! #optiv #ponemoninstitute #cybersecurityrisk #cyberrisk #cybersecurity

Cybersecurity is predicted to be the top global business risk by 2024. The increasing number of cyber threats, such as data breaches and ransomware attacks, has made organizations more vulnerable. There is a need for businesses to prioritize cybersecurity measures to protect their sensitive data and maintain customer trust. Additionally, the rise of remote work and the adoption of new technologies have further increased the risk of cyberattacks. It is crucial for businesses to invest in robust cybersecurity strategies and stay updated on the latest threats to mitigate these risks. #cybersecurity #cybersecurityawareness #Privafy

Happy new month! Just like that, we are now midway through 2024. It will not be long until we greet another new year. Speaking of another year, have you heard about cybersecurity trends for the next coming years? Check out what Cybersecurity Experts forecast about the digital landscape beyond 2024! #Cybersecurity #CybersecurityTrends https://hubs.la/Q02yH7Q70

2024 Cyber Risks The start of a new year brings about a sense of renewed energy and motivation for businesses.   But as companies set their goals and plans for the year, they must also consider the potential risks that could derail their progress. And in today's digital age, one of the biggest risks that businesses face is cyber threats. 💻🔒 According to experts, the cost of cybercrime is projected to reach $10.5 trillion USD by 2025, a staggering increase of 15% from just a year ago. No business, big or small, is immune from these threats. So, while cybersecurity may not be the most exciting topic when you have big plans for the year, it cannot be ignored. In 2024, businesses should be particularly mindful of the following cybersecurity trends and risks: ✅ Rise in attacks on small and medium-sized businesses. ✅ More AI-powered social engineering tactics. ✅ Increased focus on employee training and awareness. ✅ Continued growth of ransomware attacks. ✅ Greater need for cybersecurity insurance coverage. These are just some of the trends and risks that businesses should keep in mind when planning their cybersecurity strategies for the year. Check out the CPO Magazine article linked below for more insights and predictions.  #Cybersecurity #RiskManagement #BusinessStrategy Link to article: https://lnkd.in/dCqVzRi5

SecurityScorecard Threat Research: 21% of S&P 500 Companies Reported Breaches in 2023 - 01Net: SecurityScorecard Threat Research: 21% of S&P 500 Companies Reported Breaches in 2023  01Net #CyberSecurity #InfoSec #SecurityInsights

Fortifying Business Resilience: The Imperative of a Business Information Security Officer (BISO) in the Cyber Era. As a Data Analyst and Cybersecurity Enthusiast, I recognize the pivotal role effective cybersecurity plays in safeguarding businesses against evolving threats. In today's data-driven landscape, a dedicated Business Information Security Officer (BISO) is imperative. Let's explore why businesses should prioritize this role and differentiate it from Chief Information Security Officer (CISO) and Chief Risk Officer (CRO), supported by real-world examples. 1. The Escalating Threat Landscape: Data Point: The World Economic Forum's Global Risks Report 2022 ranks cyber risks among the top global threats, with 68% of business leaders expressing concerns. Case Study: The SolarWinds supply chain attack in 2020 illustrated the need for a proactive approach to cybersecurity, emphasizing the BISO's role in mitigating such risks. 2. Regulatory Compliance and Financial Impact: Data Point: IBM's Cost of Data Breach Report 2022 states the global average cost of a data breach is $4.24 million, with an average time to identify and contain a breach of 287 days. Case Study: H&M's €35 million GDPR fine in 2021 highlights the financial repercussions of inadequate data protection practices. 3. Business Integration and Risk Mitigation: Data Point: Deloitte's Cyber Risk in Advanced Manufacturing report reveals 32% of manufacturing executives identify operational disruption as a significant consequence of a cyber-attack. Case Study: The NotPetya ransomware attack on Maersk showcases the importance of aligning cybersecurity measures with business operations. 4. Human Factor Vulnerabilities: Data Point: Verizon's 2022 Data Breach Investigations Report highlights that 85% of data breaches involve a human element. Case Study: The Equifax phishing attack underscores the importance of addressing human vulnerabilities, making the BISO's role in fostering a security-aware culture integral. Distinguishing BISO, CISO, and CRO: While the CISO oversees overall security strategy and the CRO manages various risks, the BISO focuses on the specific security needs of a business unit. For instance, the Equifax breach falls under the purview of a CISO, overseeing organization-wide security strategy, while a BISO would address human vulnerability. Conclusion: In conclusion, the multifaceted challenges of today's cyber landscape necessitate the presence of a Business Information Security Officer. The BISO's ability to understand business intricacies, align security initiatives, and tailor solutions to specific units is pivotal. As businesses strive for resilience, the BISO emerges as a linchpin in fortifying their defenses against cyber threats. If you're passionate about data and cybersecurity, the role of a BISO might be a compelling avenue for professional growth. #Cybersecurity #DataProtection #BISO #CISO #CRO #BusinessResilience