Cyderes

It continues to climb! The alarming Cybersecurity Trends: IBM’s 2024 Cost of a Data Breach Report I want to take a moment to address the new findings from IBM’s 2024 Cost of a Data Breach Report, which highlights that the average cost of a data breach has reached $4.88 million globally—a 10% increase from last year. In the U.S., this figure is even more staggering, averaging $9.36 million per incident! Why These Numbers Matter? These statistics don’t just represent numbers on a page but they’re real, disastrous impacts for businesses and organizations. They represent loss time while operations are offline, they represent customers being unable or nervous to access business pages or make orders, they represent the cost of paying outside contractors or IT departments to work overtime to fix the problem…They represent a plethora of problems. In fact, 70% of organizations reported significant disruption following a breach, which can lead to long-term consequences that are difficult to put a true price tag on. The Driving Forces Behind Rising Costs 1. Lost Business: As companies grapple with the aftermath of breaches, lost revenue from customers and damaged reputations can be devastating. 2. Increased Response Costs: Organizations are now spending more on detection, escalation, and post-breach response efforts. The average expenses for these areas have risen significantly. 3. Staffing Shortages: The report notes that over half of breached organizations faced severe staffing shortages in cybersecurity roles, leading to an average increase of $1.76 million in breach costs. However, there is hope. Organizations that leverage AI (LLM or GenAI) and automation in their cybersecurity strategies have seen an average reduction of $2.2 million in breach costs. This demonstrates that investing in advanced security technologies and incident response planning can yield substantial savings and enhance resilience, like what we do at Cyderes everyday. I welcome your thoughts and experiences on what you think could be the biggest impact to these problems?

Good morning, Nasdaq! 👋 $SAIL

The Urgent Need for IoT Security in an Expanding Digital Landscape I think all of us in the cybersecurity industry have seen how the Internet of Things (IoT) has revolutionized industries and created unprecedented opportunities for connectivity and efficiency. However, the downside is that it has also significantly expanded the attack surface for cyber threats. With billions of connected devices in use and without robust security measures in place, risk profiles can unintentionally rise. Securing IoT requires a layered approach including implementing strong encryption, network segmentation, and real-time monitoring to mitigate risks effectively. It’s clear (to me) that IoT security cannot be an afterthought and organizations must prioritize it as a critical component of their overall cybersecurity strategy. This includes regular assessments, updates, and a proactive approach to identifying vulnerabilities in connected devices. At Cyderes, we’re committed to helping businesses fortify their IoT ecosystems, ensuring that security is integrated at every level. How is your organization addressing the challenges posed by connected devices? I am seeing clients all over the place from having an actual strategy and approach to complete disregard. #IoTSecurity #CyberDefense #DigitalTransformation