Cybersecurity has become somewhat of a buzzword lately. As more communications and financial transactions take place online, it only makes sense that hackers find more ways to target this sensitive information for financial, political or ideological gain. A recent report from the United Nations shows just how vulnerable countries around the world are to cyberattack.
The documented lack of cyber infrastructure proves that organizations (from SMBs to government bodies) need to step up their game, so to speak. Tightening cybersecurity at every level and enrolling in cyber coverage insurance can help prevent a malware or ransomware attack-or, worse case scenario, minimize the harmful consequences of a data breach.
Let's take a closer look at the recent report from the United Nations to learn about cybersecurity vulnerabilities around the world and expert recommendations.
The UN examined "technical, organizational, legal, cooperation and growth potential" factors for 134 countries to determine which are the "most committed" to cybersecurity, according to CNET. The rankings are as follows:
Implications for Government
This United Nations report shows that half of responding countries do not have a cybersecurity strategy--only 38 percent have a published strategy and only 11 percent have a dedicated standalone one. Similarly, more than half of these countries lack training programs for law enforcement and their judicial system.
Despite the fact that the survey says, "Cybersecurity is an ecosystem where laws, organizations, skills, cooperation and technical implementation need to be in harmony to be most effective," there's no global standard for cybersecurity. And, as we all know, it only takes one weak link to break a chain.
Implications for Everyone
The UN report adds, "Additionally, cybersecurity is not just a concern of the government but also needs commitment from the private sector and consumers." Just like there's no such thing as "too big to fail," there's no such thing as "too small to scam."
Just as government agencies must invest in training and establishing best practices for their employees, so must the private sector. For example, 91 percent of cyberattacks begin with a simple phishing email. All it takes is one fearful employee clicking a harmful link to let a hacker in. But the good news is that susceptibility to email-based phishing drops nearly 20 percent after just one simulation, and asking employees to actively report phishing threats cuts the detection time for a breach down to 1.2 hours on average. The takeaway: training and procedural organization matter.
It's also important to admit that no preventative plan is 100 percent foolproof. Hackers, whether they're after medical records or ransom money, are constantly evolving in how they infiltrate networks to access personal data. In conjunction with a plan A, organizations need a plan B including adequate cyber insurance coverage that mitigates the many costs associated with a data breach and third-party liability claims.
It's clear that we need to move toward more comprehensive cybersecurity at every level now more than ever. Want to do your part? Get a free quote from CyberPolicy and learn how you can protect your clients and customers today.