Cybersecurity Awareness Month
October 2024 is Cybersecurity Awareness Month, an annual international initiative that aims to raise citizens', companies', and institutions' awareness of digital risks and encourages them to protect their data from cybercrime. Now in its twenty-first edition, the chosen theme is "Secure Our World." This message emphasizes that every individual has a crucial role in cybersecurity and that even small daily actions can have a significant impact.
Cybersecurity Awareness Month is a crucial campaign led by the United States Department of Homeland Security (DHS) and supported by numerous other countries, including Canada, the European Union, and many nations in Asia and Africa. Growing interconnectivity and digitalization have made cyber vulnerabilities more evident, with an increase in ransomware attacks, phishing, and data breaches, and the awareness campaign aims to mobilize everyone, from individuals to large companies, in the fight against cyber threats. The choice of the 2024 theme aims to raise awareness of how essential a culture of security is in all contexts.
Training and Awareness
Risk awareness and training on correct security practices are key elements in addressing cyber threats.
The number of losses related to data breaches is terrifying. Globally, the average cost of a single data breach across all industrial sectors was almost 4.5 million dollars. (see report)
It is not just about direct economic damages but also related costs such as copyright infringement, loss of know-how, and damage to brand reputation, the effects of which can only be quantified in the long term.
The global costs related to cybercrime are expected to reach 10.5 trillion dollars by 2025, over 1 billion dollars in economic damage every hour!
No business sector can be exempt from cybercrime: the manufacturing sector was the most affected, involved in 21% of cyber attacks, followed by the public administration and the financial sector. The healthcare sector recorded the highest breach costs, with an average of 10.93 million dollars in 2023.
The vast majority of breaches are caused by human error (estimated between 70 and 90%), mainly stolen or compromised credentials, phishing, social engineering, software updates not installed, and misused access privileges.
For this reason, companies and institutions must implement continuous training programs for their employees. Staff is essential to a company's ability to protect itself from cyber threats, and an effective cybersecurity awareness program should raise awareness among users on some essential topics:
- Phishing and Social Engineering and related attempts to deceive and steal information;
- proper management of passwords, created with adequate strength requirements and with the use of password managers and changed with an acceptable frequency;
- protection of mobile devices and computers with antivirus software and regular updates;
- Adopt prudent behaviors online, safe browsing, using protected networks, and being careful of suspicious links.
Cybersecurity in Document Management
Cybersecurity plays a crucial role in document management. Organizations manage a vast amount sensitive data, and a security breach could have disastrous consequences. Those using document management software must verify that the program has some essential requirements and that all users scrupulously adopt some good practices.
First of all, having access control, limiting access to sensitive documents to authorized personnel only. Protect documents with encryption and perform frequent backups to prevent data loss in the event of cyber attacks.
It is important that the software has secure monitoring systems to detect unauthorized access and suspicious activity and that the company protects physical access to devices that contain sensitive information. Multi-factor authentication (MFA) is always preferable to add an additional layer of security.
Conclusion
Cybersecurity Awareness Month 2024 is an opportunity to reflect on the importance of cybersecurity and the consequences that can arise from even the most straightforward daily actions of a single user. Investing in training, equipping yourself with reliable document management software, and adopting safe practices in document management not only helps protect data, but also contributes to create a culture of collective responsibility in cybersecurity.
