Page 59 - Cyber Defense eMagazine January 2023

Cybersecurity Attacks To Come: Here’s How To Prepare

By Russ Reeder, CEO, Netrix Global

Ensuring 100% prevention against all cyberattacks is impossible today, as modern perpetrators find more
sophisticated ways to strike by the minute. A strategy focusing on protection and recovery over prevention
is much more realistic and attainable.

However, the private sector is in an alarmingly unprepared state of general readiness to repel
cyberattacks. Small and midsized businesses are especially vulnerable due to budget and hiring
challenges.
To bring attention to the lack of general readiness, President Biden issued an executive order earlier this
year regarding improving the nation’s cybersecurity. His order, in part, stated: “The private sector must
adapt to the continuously changing threat environment, ensure its products are built and operate
securely, and partner with the Federal Government.” The executive order established a U.S. Cyber Safety
Review Board that will include private-sector organization representatives.

A few stats that speak to this challenge:

● Half of U.S. businesses remain without a cybersecurity risk plan.
● Attacks on business emails have resulted in a loss of $43 billion since 2016, according to FBI
data released in May.
● Cyberattacks and data breaches mushroomed by 15.1% last year compared to 2020.
● Company networks are so vulnerable that cyberattacks may breach 93% of them.
● A ThoughtLab report published earlier this year found that 39% of CEOs said their budgets
are inadequate “to ensure cybersecurity.”

Cyber Defense eMagazine – January 2023 Edition 59
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