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2018 Has Been A Hard Year For Cybersecurity Thus Far

Cybersecurity stocks are reaching the biggest returns in the past 3 years.

Why?

There simply is more demand than many big firms can handle. Organizations of all sizes are investing in more cybersecurity technology to avoid being the lowest hanging fruit for cyberattacks.

You see, cybercriminals are more interested in attacking the lowest hanging fruit—those companies and organizations that aren’t investing in security or focusing parts of their annual strategies to cybersecurity.

And even the ones that are investing in cybersecurity, nearly a quarter have systems misconfigured to the point where they’d probably be better off not having their security systems in the first place (basically they remain sitting ducks, but are confident that they are investing in the right technologies to keep them safe).

Note: cybersecurity experts recommend getting an annual security checkup in case you fall into this boat. If you aren’t sure whether your organization remains insecure, consider a free network security assessment.

With the huge Equifax cybersecurity data breach just over a year ago, businesses have started investing in more to protect themselves. And some of these businesses will probably avoid cyberattacks because they’ve put in enough effort to make it hard for attackers to breach their systems.

But more likely, cybercrime should be top of mind.

Just as Equifax shook our perceived security last year, it also emboldened others to continue to hack into networks. What became the worst data breach in U.S. history, the Equifax attack snowballed into big and bad attacks on organizations nationwide—those thinking they weren’t even targets.

Remember that AllScripts cyberattack? The one that affected tens of thousands of clinics throughout the US? Yeah, that took place in 2018.

So did numerous SamSam attacks on hospitals, local governments and corporations—not to mention small organizations that weren’t newsworthy because new cycles are chock full of cyberattacks this year.

Remember the city of Atlanta that was completely shut down for over a week because city officials were debating about paying the ransom (remember that the city didn’t have backups of their data, prompting them to seriously consider pay off huge ransom sums just to get their data back?)?

2018 has not been a cake walk when it comes to cybersecurity. No wonder why big cybersecurity firms are enjoying high returns and good stock reviews. The fact of the matter is that cybercrime has been on an uptick in recent years—and that uptick has been because organizations are failing in (1) protecting their networks from criminals and (2) not effectively implementing cybersecurity tools (giving them a false sense of security).

Plain and simple. Even if you think you’ve taken measures to keep your network secure—maybe investing in top-of-the-line security equipment, artificial intelligence, or multi-factor authentication—more than likely, without a second set of eyes from experienced security experts, you’re risking more than you’d ever imagine in the event of a breach or a cyberattack.

Do you remember what led to the Equifax cyberattack?

Software wasn’t patched. Do you know how easy it is to overlook simple fixes like patching? Microsoft alone releases hundreds of security patches a year. Each one is published online and could easily be reverse-engineered by a tech-savvy teenager in China. If you forget to apply even one critical patch, your systems may be in great jeopardy of an attack the likes of Equifax.  Leaving over 146 MILLION people’s data breached. Could you imagine having your reputation tarnished like that?

My question to you: are you doing enough?

Most of the attacks in 2018 have stemmed from companies and organizations that either thought they were doing enough (when they actually were skipping steps) or who thought they would never end up victimized by cybercrime.

The reality is knowing where your vulnerabilities lie and prioritizing critical ones is what keeps businesses from actual breaches and ransomware attacks.

Are you doing enough within your organization to secure your clients, your employees, your business? Contact us TODAY for a free network security assessment.

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