Smart companies find creative ways to secure their customer and employees data and to keep hackers from walking inside their accounts and devices.
Corporate executives might know about their revenue and performance metrics inside-out, but they don’t always think about securing their workforce or their most valuable thing, their customers.
Their way of acting around security are to invest in firewalls and antivirus, but those tactics won’t keep the hackers away to steal valuable and sensitive data from their customers. It nor prevent their workers from downloading and access data even after they stopped working for their company. Studies shows that 60% of all employees will bring sensitive data with them when they stop working for their company.
Perhaps that’s why we see all this larger cyber attacks and hacking activities succeeding to steal sensitive information. Due to Arbor Networks nearly 60 percent of enterprises, government and education estimate their downtime costs above $500/minute with some indicating much greater expense. It’s clearly that it’s time for corporate executives to include cyber security in their strategy and to broaden their investment in cyber security.
My company recently made a survey of how corporate executives in Sweden, Belgium, South Africa, India and Thailand to see how they secure their customer data and daily workflow. Here are a few alarming findings:
- Almost 100% of the Thai and India office workers confess they don’t access their data with a Two-factor Authentication.
- Almost 90% of the company’s says that they lack of resources and it’s difficult to hiring people with know-how of the new cyber security solutions on the market.
- 80% says that their customers is the number one target for hackers
You need to include Multi-factor Authentication for your employees. They might say it’s complicated and you might think it’s expensive. But things have changed in the market and today their are many affordable solutions out there, and als consider the cost of losing data or downtime costs. Moving to the cloud has a tremendous potential to improve your business. Don’t forget to put effort in how you should access and secure your customers and your sensitive information.
I’m sure every corporate executive trust their employees and don’t expect anyone to fraud and compromise their customers data.So where does it go wrong? How can hackers still succeed to retrieve sensitive data and compromise customer data.
Here’s what I have seen work at my company and others
- Implement Two-factor Authentication
It’s time to say hello to Multi-factor Authentication; it’s time for all corporate executives themselves to start enforcing stricter security protocols.
Authenticating users with a Multi-factor Authentication – as opposed to potentially weak passwords – is a much stronger method of keeping accounts secure, and it’s now easier than ever to include it as your employees want it, flexible when and where they work.
2. Secure your customer data
Customers are humans, not static resources. Their loyalty and interest in your service will likely change if their data get compromised. Todays market is very fast paced and you need to include technologies that make sure to keep your customer safe.
Studies find more than 65% percent of Consumers are likely to stop doing business with a hacked solution.
3. Offer learning opportunities in cyber security
I have seen and learn from studies that not many organisations give their employees the opportunity to learn new skills to understand cyber security, which would make it more interesting to secure their devices and sensitive information.
My company works with the Cyber Security Center at Daffodil International University in Dhaka. Today they provide a number of internal cyber security courses and learning opportunities developed specifically for companies and their employees. Their education programs work with students, faculty, staff, and it will help your employers to understand which skills they need to develop for building a secure environment to secure your daily online work for your employees and to secure your customer data.
Once you encourage the employees to find and create opportunities where they can prove their capabilities. You will get employees that will “think out of the box”, come up with innovative ideas and projects which will eventually help your company to secure your employee and customer data.
4.Start to talk about Cyber Security
At Google they made a research that represent two years of research ”Security Keys: Practical Cryptographic Second Factors for the Modern Web” of using FIDO U2F Security Keys for authentication. The results gave them the following conclusions:
- Users reduced, by nearly two-thirds, the time to authenticate with a Security Key as opposed to an OTP via SMS. Most of that time is based on the efficiency of the user since authentication executes in milliseconds
- In Google’s rollout, authentication failures fell to zero. The company’s support department estimates the switch from OTP tokens to Security Keys saved thousands of hours per year in cost. These efficiencies allowed Google to give each employee two Security Keys and still realize overall cost reductions.
- Security Keys met other Google requirements that mandated simple APIs for developers, no user tracking, no identifiable user information on token as well as protection against password reuse, phishing and man-in-the-middle attacks
Google learned that the Security Key login process was four times faster compared to Google Authenticator (their mobile authentication app), and that use of U2F and public key crypto results in significant fraud reduction.
The average login time is shrinking and especially for companies that are using Google Apps can in a easy way stand up in the world wide cyber security battle. Once you start using the U2F key for your employees you will make sure that you most sensitive information will stay inside your organisation.