While the cartoon above is humorous, being the victim of a cyber-attack in reality is no laughing matter. For instance, the FBI reported that ransomware infections caused more than $1.6 million in losses in 2015 for individuals and business of all size. If you recall, last year, the news was flooded with cyber-attacks from Yahoo! – to MUNI in San Francisco – to the Presidential elections. Businesses lost millions of dollars to deal with ransomware attacks and continue operations.
Most recently, the TV show, Orange is the New Black suffered a data breach. Someone hacked the first 10 episodes of their latest season and demanded a ransom to prevent them from posting online. When the hackers did not receive the ransom, they leaked all 10 episodes on the internet.
The above-mentioned data breaches and attacks have made cyber security a top priority for most CIO’s. Organization need to ensure they are using the right technology and collaborating with the right service provider to protect their customer’s data and prevent falling victims to security breaches.
The financial services industry, in particular, is extremely vulnerable to cyber-attacks because it contains valuable data such as customer information, social security number, bank details etc.
According to our recent research and survey:
- 62% of 4,821 credit unions suffered at least one or more data breach
- Over half of the financial organization survey takers found the private cloud the safest in case of malicious attacks, hardware & environmental disasters
- 5% of financial organizations are planning to add new cloud services
While some companies ask IT teams to manually maintain data centers, other financial organizations are making their move to cloud-based solutions to save time, effort, expense and most importantly be better prepared in case of a disaster. Cloud-based disaster recovery solutions allows businesses to continue operations even during a data breach or an outage.
Cyber-attacks will always be a threat. It is not a matter of IF but WHEN. What is your organization doing to prevent them?
Evolve IP’s award-winning cloud compliant solutions such as Disaster Recovery, Virtual Infrastructure, Call Center, IP Phone Systems etc. provide credit unions, banks and financial institutions with the opportunity to protect systems & member data while increasing member satisfaction & team productivity – all without capital expense.
Follow the link to learn how Evolve IP can help your financial organization prevent and defend a cyber-attack.Categories: General