We are currently living in an increasingly uncertain world. Global geo-political events are shaping our future and having a very real impact on us in our personal and business lives. We are also living through one of the biggest technological changes for generations…Artificial Intelligence.

While all eyes are focused on geo-political events, we are also distracted and enthused by the possibilities of AI and the excitement that comes with that possibility.

The scary thing that most are not focused on (while we’ve been a little distracted by the above) is the rising and very real threat of cybercrime.

The Elephant in the Room

Most businesses are aware of the need for cybersecurity, but many are burying their heads in the sand about how profound the risk is and equally how daunting it can be to start addressing the threat.

If you spend a little time focusing on recent news reports of ransom attacks, cybercrime, state-sponsored cyber attacks, and the rise of AI-supported cybercriminal activities, you will quickly see why this probably should be the most critical item on every C-Suite leader's agenda.

The Business of Cybercrime

Hackers are increasingly running their operations like businesses. They entrap a business, request a ransom to unlock systems, or prevent sharing data. Many organizations end up paying significant sums to avoid their business going under or suffering reputational damage that they may not recover from. I’ve heard of eye-watering sums being paid to criminals who you are “trusting” in good faith that they will keep their word and restore your access or not leak your data.

Misplaced Confidence

Currently, businesses are convincing themselves that their IT provider or internal team has them covered. Your data is in the Microsoft cloud, so we are safe…we have cyber essentials…we are safe.

Unfortunately, you are not.

A Changing Landscape

The cybersecurity landscape has (and is) changing at a rapid pace. It is not just a technology problem but a business problem that needs to span the education of your staff, policies and procedures, technology, and the appropriate levels of support.

Taking Action

Just like NATO and the target for member states to contribute 2.5% of their GDP to security, so too should leaders be thinking about the investments they make into their business security posture. Here are some actionable steps to enhance your cybersecurity:

Conduct Regular Security Audits: Identify and address vulnerabilities in your system.
Employee Training: Educate your staff about phishing scams and other common cyber threats.
Invest in Advanced Security Technologies: Ensure your security measures are up to date with the latest advancements.
Implement Robust Policies and Procedures: Develop and enforce comprehensive cybersecurity policies.

Don’t become another statistic of this ever-expanding new business line for cyber criminals. Take the appropriate actions as soon as possible.

Free Security Assessment

If this article has raised some alarm and concern, I’m glad. It has served its purpose, and you should be concerned.

As members of the Recruitment FD group, I’ve opened up a limited number of free quick assessments where I can independently review your current posture. They are open to any company with a minimum of 50 employees with a budget and willingness to address the issues raised. This will be on a first-come, first-served basis. To take advantage of this, please email me at brad@intercor.co.uk.