Priya PatelTLDR:
Key Points:
- Security neglect can result in data breaches and cyber threats, costing companies millions of dollars.
- Collaboration between security and privacy leaders is essential to make informed decisions about security investments.
In a world with increasing Internet traffic, the importance of investing in security teams and tools to protect personal data and company resources cannot be overstated. Security and privacy leaders must work together to understand the risks and costs of failing to invest in security. While it may be challenging to sell the benefits of security technologies to privacy leaders, finding the right balance between privacy and security measures is crucial.
An effective data security program is essential for privacy protection, but it’s vital to consider the potential privacy harms an organization is trying to protect against. Without adequate protection, employees can fall victim to phishing attacks, resulting in data breaches and regulatory penalties. The article highlights that the benefits of security investment often outweigh the costs.
Corporate cyber security solutions are designed to address various threats unique to each organization, with data breaches being a common and costly risk. The article estimates that unprotected organizations can experience data breaches and ransomware attacks, costing tens of millions annually. Investing in layered security systems, such as anti-malware and Zero Trust access control, can reduce these risks.
When evaluating security investments, organizations must consider the potential risks and benefits. Weighing the ROI of security investment can be challenging, but weak cybersecurity practices increase the likelihood of data breaches and reputational damage. Security and privacy leaders can make a case for additional investments by emphasizing costly data breaches and seeking solutions with strong records in security, privacy, and compliance.
