Risk Management articles

Many small and mid-sized enterprises (SMEs) choose not to invest in cybersecurity early on, and it’s understandable why, given its impact to the bottom line. Cybersecurity tools, software and services can be expensive, and it’s time consuming to determine which tools you need. You need to weed through more than 3,500 vendors offering solutions and the process of finding the right vendors and onboarding them can take years. Fast-moving startups and SMEs neither have the expertise, time or the money.  […]

7 costs of a data breach and how to minimize them It’s no secret that data breaches are occurring more frequently and they’re expensive. Just turn on the news and you’re sure to hear a story about the millions a major company lost thanks to a leak. Unfortunately, in too many cases, businesses experience a costly breach that could have been prevented. Something as simple as a misconfigured or insecure firewall or lack of two-factor authentication can cost a company […]

Given sufficient time, resources, and motivation, a cyber threat group can breach any organization. While prevention is important, companies should treat data breaches as inevitable and ensure that they are prepared to handle them and minimize their impact. According to the 2021 Cost of a Data Breach Report developed by Ponemon and IBM, the average cost of a data breach is $4.24 million. However, having an incident response (IR) plan in place is one of the best ways to drive […]

Cyberattacks have become a risk that all organizations need to address. As cybercrime has become more organized and professionalized, cyberattacks have also become more numerous, automated, and sophisticated. The reality is that any company can be the target of a cyberattack, and prevention is not enough to protect an organization. Even the most effective cyber solution will miss some attacks so organizations need to be prepared to address an attack at every stage of the kill chain (see diagram below). […]

We discuss what to consider before buying in. The cybersecurity market is complex, to say the least. The current market has over 3500 vendors with new ones being added daily. Coupled with the fact that the threat landscape keeps changing, it’s difficult for any security or risk leaders, especially those in SMEs, to know how to navigate this environment. Does a new threat or risk require a new tool, or does a current vendor have it covered? Vendors aren’t making […]

A majority of small and mid-sized enterprises (SME) have outstanding debt. It’s the cost of growing a business. But you might be surprised to know that your debt can extend far beyond the money owed to a lender. Many SMEs are also accumulating technical debt — the costs associated with reworking code, products, and solutions that have been improperly implemented to deliver a product more quickly. One of the more costly types of technical debt is cyber debt.  Cyber debt […]

The world is watching the terrible conflict currently happening in Ukraine. Russia has attacked the nation in more ways than one, including leveraging cyberattacks as part of the escalating discord. SolCyber, and the information security sector as a whole is on high alert and we recommend organizations know what the elevated risk is and what they can expect from the conflict. CISA, The U.S. Cybersecurity & Infrastructure Security Agency, has issued a “Shields Up” warning to all businesses as a […]

It’s no surprise that data breaches and cyberattacks are on the rise. The Identity Theft Resource Center issued a press release in October of 2021 saying that the number of data breaches that had occurred in 2021 through September had already surpassed the number of attacks in all of 2020 — a year in which small businesses saw a 424% increase in cyberattacks. What’s worse is that adversaries don’t discriminate and they’re using the same tactics against businesses big and small. […]

We spoke to Brian Stuckey, a cybersecurity and risk management expert, investor, and co-founder who provided helpful insight and expertise for this article. For many startup founders and cofounders, the process of raising money from investors and other VCs brings a few different challenges. Potential investors are looking for financially sound companies with a hyper growth potential, the right leaders, and a vision they can trust in. This puts a tremendous amount of pressure on company leaders to ensure their […]

Cyber debt can be incredibly detrimental to a young or growing company and it’s all too easy to accrue. Businesses often fail to set up the proper security measures early on because they are deemed too expensive or time consuming. As people, technology, and devices are added to a business’s ecosystem, they are protected on a one-off basis — or not at all — leaving gaps bad actors can exploit. And because these businesses lack a security strategy, they’re also […]

2021 was a tumultuous year for cybersecurity and, unfortunately, we saw the effects of successful cybersecurity attacks across major companies and industries. The trends we observed in 2020 largely continued in 2021. Ransomware attacks continued to increase and a few major hacks dominated news media around the world. The Colonial Pipeline attack showed how devastating these ransomware attacks could be, and the immediate impact to supply chains and municipal infrastructures. The aftermath of 2020’s SolarWinds hack was also at the […]

We spoke to Brian Stuckey, a cybersecurity and risk management expert, investor, and co-founder who provided helpful insight and expertise for this article. Starting any new business is difficult and startups who are looking to be the next unicorn or IPO face many challenges as they try to grow, scale their services, and increase their customer base as quickly as possible.  These startups will undergo rigorous due diligence from investors that are considering putting money behind their company. This is […]

We’re thrilled to have a guest blog contributed by one of our technology partners, Right-Hand Cybersecurity. Right-Hand is a group of mission-oriented individuals driven to shift the power away from the adversary and back into the hands of businesses. Enjoy the article! You may relate internet attacks with large organizations. However, cybercriminal activity affects businesses of all sizes. Small and medium-sized enterprises (SMEs) are no exceptions.  On top of that, every one in five SMEs becomes a cyber victim, and […]

Security and company leaders have a difficult challenge when it comes to securing their organization and properly managing their risk. Here’s just a sampling of their challenges and what they face: The complexity is compounded for smaller companies who have to allocate resources sparingly. What options do they have and how can they prioritize actions that will make them more secure?  We’ve put together a list of 5 cybersecurity must haves for any organization, regardless of their size or industry. This […]