Challenge of Managing Cyber Security, Risk and Compliance
In today's digital economy, more and more companies are falling victim to massive data breaches. Cyber security is not just a technical issue – it's a business, governance, reputational and performance risk. An integrated GRC program will not only help identify and mitigate cyber security risks but also help minimize IT compliance violations and avoid potential threats and vulnerabilities.
Simple human error or bad behavior is more often the cause of cyber security incidents than malicious hacks. Creating firewalls and implementing security software is not enough to reduce the risk facing your organization in today's environment. Employee cyber awareness and training are key factors in preventing attacks.
The average cost of a data security breach today is nearly $4 million. At the same time, more than one in six employers worldwide suffered a cyber-attack in the past year. In North America, the rate is closer to one in five. Unfortunately, the greatest data security vulnerability within an organization is its own employees and vendors. Lack of cyber security policy awareness and training among employees significantly increases the risk of system intrusion and attack by hackers.
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