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The Colonial Pipeline ransomware attack in 2021 forced the shutdown of a major U.S. Lack of multi-factor authentication (MFA): Systems without MFA are more vulnerable to unauthorized logins. Activate the incident responseplan (IRP) Having a pre-established incident responseplan is critical.
These tips were developed by the SIA CAB during Cybersecurity Awareness Month 2021 as part of SIA’s efforts to promote responsible connectivity and encourage SIA members to strengthen their cybersecurity postures. Use multifactor authentication as much as possible (e.g., What Is Security Risk Management?
For example, the 2021 attack on Colonial Pipeline led to a $4.4 Implement multi-factor authentication (MFA): Add an extra layer of security by requiring a second form of verification, such as a code sent to your phone or biometric authentication. Develop and test a detailed responseplan to minimize confusion during an attack.
Experts recommend the following: Multifactor authentication (MFA): This requires at least two forms of identity verification for login, which effectively stymies unauthorized logins using compromised credentials. 2021, May 4). 2021, May 7). Conduct risk assessment to verify third party’s security practices. link] Security.
July 7, 2021. Multi-Factor Authentication (MFA) adds an extra layer of identification to stop cyber threats from slipping through unsecured devices. Incident ResponsePlan In the event of a cyber breach, a previously tested incident responseplan can save up to $2 million , according to IBM.
Ransomware attacks plagued the industry in 2021, with 74% of financial services institutions reporting attacks 3. From 2021 to 2022, DDoS attacks on financial services companies rose 22% year-over-year, making the industry the most frequently targeted for this type of attack 5,6. 2021, June 22). link] Contreras, W.
READ TIME: 4 MIN March 10, 2021 NexusTek Boot Camp: Cybersecurity Basic Training & Quiz Welcome to NexusTek Boot Camp! According to Cybersecurity Ventures, global cybercrime costs are expected to rise to $6 trillion in 2021 , and businesses are predicted to experience a ransomware attack every 11 seconds. What is cybersecurity?
READ TIME: 4 MIN July 7, 2021 Cyber Security: 8 Steps to Cyber Resilience Youve heard of cyber security, but have you heard of cyber resiliency? Multi-Factor Authentication (MFA) adds an extra layer of identification to stop cyber threats from slipping through unsecured devices.
Experts recommend the following: Multifactor authentication (MFA): This requires at least two forms of identity verification for login, which effectively stymies unauthorized logins using compromised credentials. 2021, May 4). 2021, May 7). Conduct risk assessment to verify third partys security practices. Infosecurity Magazine.
Ransomware attacks plagued the industry in 2021, with 74% of financial services institutions reporting attacks 3. From 2021 to 2022, DDoS attacks on financial services companies rose 22% year-over-year, making the industry the most frequently targeted for this type of attack 5,6. 2021, June 22). link] Contreras, W.
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