Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Business > Neglecting data security can no longer be the norm
    Business

    Neglecting data security can no longer be the norm

    Neglecting data security can no longer be the norm

    Published by maria gbaf

    Posted on February 8, 2022

    Featured image for article about Business

    By Scott Chenery, Regional Manager UK & Ireland at Kiteworks

    In the current digital age, cybersecurity is one of the biggest concerns facing organisations around the world. Ransomware, fraud, stolen information, insider threats – these are just some of the many security risks that businesses must defend against. To make matters worse, these attacks are not solely being instigated by the everyday hacker who is sitting in a dark room attempting to cause chaos. Gathered intelligence has indicated that more and more of these attacks are being driven by organised hacking gangs that have nation-state backing, in terms of finances, resources and technology.

    Understandably, no organisation wants to be attacked as the stakes are too high – the company’s very survival and reputation depends on it. For this reason, the following guidance will aid any business in its efforts to defend against such threats, particularly if they use a content protection platform.

    A breach from oversharing

    The modus operandi for most hackers is to cause as much disruption by exploiting a system’s weakness, assume control and steal any sensitive data – all while being undetected. This can cause a serious amount of damage, especially in today’s working climate where there is an increased onus for collaborative working and sharing information. There are many variables to consider when sending a document and receiving it and this process must not be left unsecured.

    For example, most of the business applications found on the market are not natively secured meaning they are not integrated at the design and development stage. Any security elements are therefore added after the functional layers – this is too late in the cycle as security needs to be embedded from the beginning. Organisations will then use these applications to share sensitive information with external partners but because these environments are unsecure, cybercriminals have an easier time to carry out cyberattacks designed to steal data or extort the victim.

    To counter this situation, businesses are advised to utilise a secure platform that permits data sharing while also housing the capabilities of MFA, role-based access and rights management capabilities, encryption, and AI, to flag any suspicious activities instantly to the SOC team.

    Data security should be top of the list

    When addressing security for an enterprise, protecting the environment is usually the first step taken but there are reasons as to why this is a common mistake: traditionally, organisations will use a security solution or tool to add protection across both the network and the applications used while forgetting to deploy dedicated data security. This is seemingly illogical, given that data is what the hackers seek the most.

    For business operations to succeed, data needs to be shared and stored with internal departments and external partners. Yet, as soon as the information is shared, the risk of it being exposed rises and, as a result, protecting the data’s environment has become the go to approach to counter this. But it is not enough to protect data during transmission, it must also be protected wherever the data is stored.

    A change in strategy is required whereby prioritising the security of data – on a continuous basis – is the main focus. Organisations should seek out a platform that is developed for this specific purpose and is designed to reduce and prevent data-related attacks. Furthermore, having constant visibility, traceability and auditability of all data transactions in a single-pane view is paramount.

    Users need the right tools to succeed

    Cybersecurity does not need to be an obstacle for users, yet there is a common perception it is. At its core, without the necessary cybersecurity in place, the risk of failure and attack is only amplified. Therefore, having a platform that can be successfully used by an organisation’s key users is necessary.

    For instance, the primary user would be the IT team, who desire a platform that integrates with the tools in already place, is compatible in all cloud iterations (on premise, cloud, multi-cloud and hybrid) and can consolidate all their security requirements in one system which will save time, efficiency and overall costs.

    Moreover, having the solution regularly pen-tested and subscribed to a bug bounty programme will ensure any flaws are remediated throughout its development lifecycle. If any updates are made these must first be approved by the CISO or security lead before deployment.

    The secondary user of the platform would be the general employee who require simple access, ease of use and compatibility with the leading internet browsers. The implementation of plugins for the most popular software and applications is a needed benefit to make the user experience all that more positive. Most importantly though, the ideal content protection platform will provide users the ability to send emails and share files in a secure manner on the chosen browser.

    To conclude, we have reached a critical point where cyberattacks are occurring almost daily and regulations are demanding enterprises follow strict data security and privacy rules. As a result, an offensive security mindset is needed to survive in this current era with the view that any system or application can be exploited. Ensure security is being integrated into every component of the organisation and the solutions it uses, as only then will they succeed in thwarting the next attack and protecting their sensitive data.

    By Scott Chenery, Regional Manager UK & Ireland at Kiteworks

    In the current digital age, cybersecurity is one of the biggest concerns facing organisations around the world. Ransomware, fraud, stolen information, insider threats – these are just some of the many security risks that businesses must defend against. To make matters worse, these attacks are not solely being instigated by the everyday hacker who is sitting in a dark room attempting to cause chaos. Gathered intelligence has indicated that more and more of these attacks are being driven by organised hacking gangs that have nation-state backing, in terms of finances, resources and technology.

    Understandably, no organisation wants to be attacked as the stakes are too high – the company’s very survival and reputation depends on it. For this reason, the following guidance will aid any business in its efforts to defend against such threats, particularly if they use a content protection platform.

    A breach from oversharing

    The modus operandi for most hackers is to cause as much disruption by exploiting a system’s weakness, assume control and steal any sensitive data – all while being undetected. This can cause a serious amount of damage, especially in today’s working climate where there is an increased onus for collaborative working and sharing information. There are many variables to consider when sending a document and receiving it and this process must not be left unsecured.

    For example, most of the business applications found on the market are not natively secured meaning they are not integrated at the design and development stage. Any security elements are therefore added after the functional layers – this is too late in the cycle as security needs to be embedded from the beginning. Organisations will then use these applications to share sensitive information with external partners but because these environments are unsecure, cybercriminals have an easier time to carry out cyberattacks designed to steal data or extort the victim.

    To counter this situation, businesses are advised to utilise a secure platform that permits data sharing while also housing the capabilities of MFA, role-based access and rights management capabilities, encryption, and AI, to flag any suspicious activities instantly to the SOC team.

    Data security should be top of the list

    When addressing security for an enterprise, protecting the environment is usually the first step taken but there are reasons as to why this is a common mistake: traditionally, organisations will use a security solution or tool to add protection across both the network and the applications used while forgetting to deploy dedicated data security. This is seemingly illogical, given that data is what the hackers seek the most.

    For business operations to succeed, data needs to be shared and stored with internal departments and external partners. Yet, as soon as the information is shared, the risk of it being exposed rises and, as a result, protecting the data’s environment has become the go to approach to counter this. But it is not enough to protect data during transmission, it must also be protected wherever the data is stored.

    A change in strategy is required whereby prioritising the security of data – on a continuous basis – is the main focus. Organisations should seek out a platform that is developed for this specific purpose and is designed to reduce and prevent data-related attacks. Furthermore, having constant visibility, traceability and auditability of all data transactions in a single-pane view is paramount.

    Users need the right tools to succeed

    Cybersecurity does not need to be an obstacle for users, yet there is a common perception it is. At its core, without the necessary cybersecurity in place, the risk of failure and attack is only amplified. Therefore, having a platform that can be successfully used by an organisation’s key users is necessary.

    For instance, the primary user would be the IT team, who desire a platform that integrates with the tools in already place, is compatible in all cloud iterations (on premise, cloud, multi-cloud and hybrid) and can consolidate all their security requirements in one system which will save time, efficiency and overall costs.

    Moreover, having the solution regularly pen-tested and subscribed to a bug bounty programme will ensure any flaws are remediated throughout its development lifecycle. If any updates are made these must first be approved by the CISO or security lead before deployment.

    The secondary user of the platform would be the general employee who require simple access, ease of use and compatibility with the leading internet browsers. The implementation of plugins for the most popular software and applications is a needed benefit to make the user experience all that more positive. Most importantly though, the ideal content protection platform will provide users the ability to send emails and share files in a secure manner on the chosen browser.

    To conclude, we have reached a critical point where cyberattacks are occurring almost daily and regulations are demanding enterprises follow strict data security and privacy rules. As a result, an offensive security mindset is needed to survive in this current era with the view that any system or application can be exploited. Ensure security is being integrated into every component of the organisation and the solutions it uses, as only then will they succeed in thwarting the next attack and protecting their sensitive data.

    Related Posts
    Five questions to ask before stepping into Employee Ownership
    Five questions to ask before stepping into Employee Ownership
    Cybersecurity as a Profit Engine: Turning Financial Services Security into Measurable Business Value
    Cybersecurity as a Profit Engine: Turning Financial Services Security into Measurable Business Value
    How Investability Helps Companies Navigate Transformational Times
    How Investability Helps Companies Navigate Transformational Times
    88% of UK and US organisations concerned about state-sponsored cyber attacks as national threat levels surge, IO research reveals
    88% of UK and US organisations concerned about state-sponsored cyber attacks as national threat levels surge, IO research reveals
    One in three SME leaders do not fully understand cash flow, despite 82% facing cash flow problems
    One in three SME leaders do not fully understand cash flow, despite 82% facing cash flow problems
    Inside the Company that Predicted the Remote Work Mega-Trend Before It Became Mainstream
    Inside the Company that Predicted the Remote Work Mega-Trend Before It Became Mainstream
    SEO Consultant Adrian Czarnoleski on How to Increase Business Value Before Exit
    SEO Consultant Adrian Czarnoleski on How to Increase Business Value Before Exit
    No SOC 2, No Deal: Why You’re Already Losing Clients - and What You Can Do About It
    No SOC 2, No Deal: Why You’re Already Losing Clients - and What You Can Do About It
    Jose Tolosa Guides Organizations Forward with Clarity, Purpose, and Integrity
    Jose Tolosa Guides Organizations Forward with Clarity, Purpose, and Integrity
    Reducing Freight Costs to Drive Global Trade Expansion
    Reducing Freight Costs to Drive Global Trade Expansion
    The Psychology of Music in the Modern Workplace
    The Psychology of Music in the Modern Workplace
    Revealed: Low-Cost/No-Cost Marketing Hacks For Results Oriented Businesses
    Revealed: Low-Cost/No-Cost Marketing Hacks For Results Oriented Businesses

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Business PostIs your firm maximising its digital marketing intelligence from tools and technologies to constantly improve – or is it just one more thing to manage?
    Next Business PostNew e-commerce supply chain models taking off in 2022

    More from Business

    Explore more articles in the Business category

    Finance teams still stuck in spreadsheets as manual processes stall digital transformation

    Finance teams still stuck in spreadsheets as manual processes stall digital transformation

    The Future of Remote & Hybrid Leadership: Leading With Data-Driven Foresight

    The Future of Remote & Hybrid Leadership: Leading With Data-Driven Foresight

    2025-2030: The Next Technological Innovations for Business

    2025-2030: The Next Technological Innovations for Business

    The CFO’s New Playbook: 5 Ways AI Is Redefining Finance with Insights from Rishi Oberoi

    The CFO’s New Playbook: 5 Ways AI Is Redefining Finance with Insights from Rishi Oberoi

    Revolutionizing Payments: Secure, Scalable, Sovereign

    Revolutionizing Payments: Secure, Scalable, Sovereign

    Why Trademark Abuse in Paid Search Is a Growing Risk for Financial Institutions

    Why Trademark Abuse in Paid Search Is a Growing Risk for Financial Institutions

    E-commerce Customer Service: Tips

    E-commerce Customer Service: Tips

    When to Automate Your Warehouse: The Tipping Point for Operations Growth

    When to Automate Your Warehouse: The Tipping Point for Operations Growth

    Hurt at Work? 5 Financial Facts You Need to Know

    Hurt at Work? 5 Financial Facts You Need to Know

    Against the Odds: Resilience in Consumer Subsectors Offers Prime Opportunities for Investors

    Against the Odds: Resilience in Consumer Subsectors Offers Prime Opportunities for Investors

    Empower Your Workforce With Financial Wellness This Labor Day

    Empower Your Workforce With Financial Wellness This Labor Day

    Build a brand that stands out with five simple strategies, from defining your UVP to using storytelling and building loyalty. Find out more.

    Build a brand that stands out with five simple strategies, from defining your UVP to using storytelling and building loyalty. Find out more.

    View All Business Posts