Page 133 - Cyber Defense eMagazine September 2023

Furthermore, the study noted that there was a 135% increase in novel social engineering attack emails
in the first two months of 2023, figures that coincide with the rise in adoption of popular generative AI
tools.

Companies need to prioritize cybersecurity training for employees at all levels. Training must be
consistent and frequent, so employees are familiar with the latest threats that they may encounter and
the protocols that they must follow when they identify and report potential threats.

Ensure Compliance with Increasingly Stringent Data Privacy Regulations

There is now more than 25 years of data circulating on the internet. Think about the first time you used
the internet to sign up for a social media account, an email address, a subscription, joined a club, or
made a purchase online; that information is still living somewhere. Now, imagine all the times you have
done these activities since then. That is a lot of personal data floating around, potentially available to be
shared with companies and bad actors alike in an increasingly digitally connected global landscape. Not
surprisingly, data privacy regulations and protections are on a rapid rise, driven by concerns over data
breaches and privacy.

For companies, non-compliance can be costly and have a substantial impact on your brand’s reputation.
In the last few weeks alone, several high-profile industry-leading organizations suffered multi-million-
dollar data breaches or received heavy fines for privacy violations. Industries like finance and healthcare
are imposing stricter regulations and compliance standards related to data privacy and security.

Also, many countries and multiple US states are implementing stricter data privacy regulations. The most
well-known regulations in place today include: the very comprehensive European Union (EU) General
Data Protection Regulation (GDPR), which came into effect in 2018; the California Consumer Privacy
Act, enacted in Jan. 2020; and the Brazilian General Data Protection Law, enacted in September 2020.
Other countries like Australia, Japan, and India, are in the process of updating their own data protection
regulations.

Invest in Cybersecurity as a Competitive Advantage

Demonstrating and supporting a strong cybersecurity posture will differentiate an organization from its
competitors, attract new opportunities, and build a reputation as a trusted and reliable entity in the market.
Simply put, as companies advance their digital transformation efforts, cybersecurity needs to be an even
greater priority.

Today’s increasingly complex nature of cybersecurity threats, interconnected systems, shared
infrastructure, and growing data protection privacy laws all necessitate the involvement of multiple key
stakeholders – including customers, partners, and employees. With constant diligence and prioritization
around cybersecurity, you are empowering your organization to not only adapt, but evolve, in the face of
new frontiers in data protection.

Cyber Defense eMagazine – September 2023 Edition 133
Copyright © 2023, Cyber Defense Magazine. All rights reserved worldwide.