Risk Management articles

In today’s economic climate, most managers are faced with the challenge of doing more with their existing tools or holding back on acquiring new ones due to tight budgets following the pandemic. Additionally, the current soaring inflation rate, which we haven’t seen since the early 1980s, has made companies hold on to their cash and tighten their purse strings. The recent SVB collapse and Credit Suisse’s plummeting share price have further fueled fears of a recession. Under such circumstances, managers […]

As SMEs look to find new ways of being cost-effective, efficient, and reaching broader audiences, they often turn to digitalization. While an expanding digital environment presents more growth opportunities for businesses, it also creates problems for leaders who are looking to manage and maintain risk. This often emerges in the form of an increased attack surface and a rise in common vulnerabilities and high risk vulnerabilities. This can result in potential threats reaching your network, becoming a major business risk […]

The wrong time to look for flood insurance is during a flood. Similarly, the wrong time to look for an Incident Response (IR) team is when you’re already under a cyberattack. We get it. Inflation is skyrocketing, and businesses are tightening their purse strings. The rise in energy and gas prices also isn’t helping. Companies need cash flow, and hiring another vendor on retainer might seem counterintuitive while the world is still recovering following the pandemic. But inflation and gas […]

AI went mainstream almost overnight. The technology has already changed how we live, work, and interact with each other. The use cases for AI are practically endless. Here are some of the things people are doing with AI: Unfortunately, the nascent technology has already shown several weaknesses, potentially opening the door to unforeseen types of hacks. Cybercriminals are already finding ways to use AI to their advantage, the consequences of which can be devastating. Criminals can use new technology just […]

In 2023, layoffs, hiring freezes, and tightening budgets are top-of-mind for many employers. 2022 was a difficult year for the world economy; and, in 2023, the aftershocks keep coming. It might feel like there’s news of another company laying off a significant part of its workforce every week, and that feeling isn’t too far off from what’s projected. Over 60% of business leaders surveyed by ResumeBuilder say they are likely to have layoffs in 2023, with 57% of these respondents […]

3 key questions to ask yourself to evaluate your cybersecurity preparedness. The cybersecurity landscape changes fast, and in 2023 we’re seeing shifts at a faster clip than ever before. We’re likely to see continuing increased attacks on the supply chain, threats to critical infrastructure, a rise in ransomware, and pros and cons arising from the proliferation of artificial intelligence. Economic uncertainty, continued remote work trends, and skill shortages will be some of the major contributing factors to this landscape. Threats […]

As a startup, you can’t afford to ignore potential cybersecurity challenges No matter the size of your organization, a lack of preparedness will put you at risk for cybersecurity attacks. Often, startups think they are flying under the radar of most cyber criminals and are not as vulnerable. However, the reality is quite the opposite. CISA put out advice* in 2015 that’s still widely applicable today: Startups need to think about cybersecurity from day 1 or experience a higher risk […]

One common misconception about cybersecurity is that small businesses mean small cyber risks; but, in fact, businesses of all sizes need to stay vigilant in the face of cyber threats. As distressing as those stats are, the worst news comes after a cyberattack. It is estimated that 60% of small businesses closed their doors within 6 months of a breach – meaning the hack was so bad that it left irreparable damage in its wake. Getting to a level of […]

The Cybersecurity & Infrastructure Security Agency (CISA) recently released its latest report — covering 2022 Cross-Sector Cybersecurity Performance Goals (CPGs). These goals demonstrate a continued focus on the cybersecurity and risk management of small to medium-sized companies. These businesses are dealing with budgetary and resource constraints yet fall victim to the same kind of attacks that bedevil enterprise companies. In this article, we’re going to talk about the report, why it’s important for organizations of all sizes, and share our […]

According to a McKinsey survey, the COVID-19 pandemic sped up digital transformation — or digitalization — by several years. Digital interactions between customers and organizations soared to 58%, three years ahead of expectations. And the percentage of businesses that now offer some form of digital product or service is at 55%, seven years ahead of expectations! Digitalization greatly improves efficiency. For example, bookkeeping software connects directly with bank accounts so that a company can track all its expenditures and income […]

As a small business, you probably think you’re small potatoes to hackers. Unfortunately, the opposite can often be true. Smaller businesses that are part of supply chains are frequently chosen by hackers because they are an easy target as a valuable foot in the door to a substantially larger company. In fact, in 2022, businesses reported that about 1 in 5 data breaches came from a supplier. You want to be seen as an asset to the companies you serve, […]

In our previous two articles in this series, we talked about what an Incident Response (IR) plan is and how to get your team familiar with its steps and the process using tabletop exercises. In this article, we’re going to go into detail on what happens during IR and the nitty-gritty of what makes an IR plan work. An IR plan and robust IR strategy are both vital to ensure that a company recovers properly from an incident. Even companies […]

The thought of the Rams going onto the field with the 49ers without first spending months practicing would be unheard of. And the same is true of responding to cyberattacks in a company. Firefighters do fire drills. Actors do dress rehearsals. And IT and security teams do tabletop exercises. Tabletop exercises are a low-stress rehearsal of what might arise during an emergency situation. In this case, a cyberattack. Participants sit and discuss a scenario and their potential responses to it. […]

A swift and adequate response to an active cybersecurity threat can mean the difference between your company surviving the incident or going under. Small to mid-sized enterprises (SMEs) are especially at risk because they are looked upon as low-hanging fruit by hackers and they tend to have fewer defense and response mechanisms in place than larger corporations, especially because of budget constraints. According to IBM’s Cost of a Data Breach Report for 2021, the average cost of a breach was […]