8 in 10 Singaporean employees want to continue working from home in the future. Clearly, the remote working trend is set to continue, but this may expose companies to greater cybersecurity risks.
Some of the most commonly seen cyberthreats today are ransomware attacks, phishing attacks, and malspams disguised as legitimate applications related to Covid-19.
Moreover, these cyberattacks are growing in size and sophistication. This could affect not only remote workers, but end-users and customers too. Research done by the International Data Corporation showed that 78% of consumers would switch to another platform if directly impacted by a data breach.
The recent influx of hacks and breaches towards name brand companies demonstrates the severity of this issue. Every year, hacking incidents cause millions of dollars in damages- for data recovery and penalties in the form of fines. These expenses could cost C-level executives and associates in addition to company cost cuts.
If you’re still unsure, look at Facebook, which in 2019 accidentally exposed over 540 million user records on Amazon’s cloud computing service. Equifax, a global credit rating agency, also experienced a data breach in 2017 that impacted 147 million customers. The costs of recovering from that breach amounted to almost $700 million.
Being able to detect and prevent cyber threats is now an integral part of protecting an organization.
Related: How we source and assess remote tech talent at Glints
Employers should check if they have these four cybersecurity measures in place to protect their company’s sensitive data.
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