In today's fast-paced, technologically-led business world, companies need to ensure they follow strict IT risk management guidelines in order to keep sensitive information secure and out of the wrong hands. As a result, more organizations are relying on a wide range of security tools, including firewalls, anti-malware solutions and access control software.
On the other hand, cybercrime is becoming much more sophisticated and complicated, rendering many traditional IT security solutions useless.
This makes defending against breaches and hacks more difficult and requires chief information officers to expand their knowledge of the cyberworld in order to fight off these attacks, according to a new report a security consultancy.
"There is a whole range of possible solutions to cybersecurity - from management systems based on [international standards] through security configuration, encryption, website security and penetration testing," industry expert Alan Calder said. "It is amazing that many organizations still don't take cybersecurity seriously - despite the enormous price paid by Sony, RSA, HM Government and plenty of others recently."
Instead of utilizing internationally recognized security standards, the report stated, many decision-makers tend to implement self-regulated processes. This often negatively affects the outcome of IT risk management programs and can hinder the confidence that employees, stakeholders and clients have in the company.
Today, penetration testing solutions are among the top components of international IT security standards, the report said.
"With an ever-increasing risk of external attacks to websites, penetration testing is essential for identifying weaknesses in IT security," Calder said.
By understanding the different ways intruders can access sensitive networks, decision-makers can apply alternative techniques to help block up these security loopholes.
A study by Symantec found that global cybercriminal activities cost more than $388 billion each year, when companies consider the actual value of information stolen and the time they lost due to the incidents. Additionally, 41 percent of survey respondents said they do not have up-to-date IT security solutions to help protect against unauthorized access to sensitive information.
Decision-makers need to take a more active role in their IT risk management programs in order to ensure information is secure. One way to do so is to educate employees on efficient data loss prevention techniques and best practices, thereby ensuring workers avoid simple mistakes that can cost companies millions of dollars. This is especially true today, as mobile devices and social resources enter the business market.