In a perfect world, one would have an infinite budget with which to build a company’s cyberdefenses, but that’s never actually the case. Rather, with less than half of security professionals believing they’re able to confidently protect against malware and phishing attacks, and only a quarter believing they have the resources to properly handle ransomware, companies need to carefully consider how to distribute their limited budgets to provide their best cybersecurity responses, according to an article in TechRadar.
In particular, companies need to examine their expansion of private cloud, to both help limit access to key documents and maintain detailed logs into who is accessing what and support the use of automation to help identify threats or suspicious behavior. Organizations should also conduct regular risk assessments to consider what threats they’re likely to be targeted by, and whether they’re ready to respond to those specific threats, while also maintaining compliance with minimum standards for any cyber insurance policies they may have, advises TechRadar.
Finally, organizations need to consider the points of greatest weakness, which is often employees who are unfamiliar with common cybersecurity risks. Wherever possible, companies need to invest in at least the basics of cybersecurity training, to make employees aware of best practices, for passwords, phishing detection, and how to properly detect malicious or risky cybersecurity behaviors.
Source:
https://www.techradar.com/pro/building-a-cybersecurity-strategy-on-a-constrained-budget
