The Differential Security Levels Across Various Business Sectors
In the ever-evolving landscape of cyber threats, organisations are constantly seeking ways to strengthen their defences. One effective strategy is for companies to investigate the systems used by other organisations within their industry. This approach can help save costs and provide valuable insights into best practices.
Recent discussions, such as the "Cybersecurity Dive Outlook on 2021", have highlighted this strategy's potential. Industries that have successfully implemented and managed security systems can serve as examples for those in the early stages.
Industries like finance and healthcare, which have been early targets of cybercrime due to the value of their assets, have found successful ways to implement and manage security. By developing new production logics, industrialized building methods, digital strategies, and responding to investor-driven pressures for better, faster, and more sustainable processes, these industries have taken an integrated, strategic, and innovation-driven approach to improving their security management. Other industries can learn from these approaches to improve their own security management.
However, it's important to note that the need for cybersecurity isn't equal across industries. While one industry may seem secure, it may not be targeted like other industries. For instance, malware and viruses were originally designed to steal money from banks and insurance data from healthcare providers.
The education industry, unfortunately, has lagged behind other industries in instituting best cybersecurity practices. Schools have struggled with security during the transition to remote learning, leading to temporary security holes that were often fixed with VPN technologies and access policies applied later.
Small businesses (SMBs) are increasingly becoming targets for cybercriminals due to their vulnerability. Companies in the SMB category tend to have limited budgets for dedicated IT or IT security staff, making them easier targets.
In order to improve their security posture, organisations should first determine what assets need protection. Sharing security information within an industry can help improve security for organisations as a whole. As Brandon Hoffman stated, organisations with a smaller attack surface may not be as attractive to hackers, while those with a larger attack surface and high payoff for a successful attack, like financial services, prioritise security more.
Every industry has unique assets, so there is no one-size-fits-all solution for security. However, by learning from the successes and challenges of other industries, organisations can take significant strides towards improving their own cybersecurity.
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