The right investments and a strong data security are critical to a business’ success. Cybersecurity is essential for many reasons, including protecting against cyberattacks, avoiding expensive regulatory fees and penalties as well as gaining back the trust of clients. While it may be tempting to cut back on spending on cybersecurity in times of economic crisis However, an ounce is worth a pound of cure. It is also more cost-effective to invest in prevention than spend on containing and recovering from an incident.
The majority of purchase banks have advanced cybersecurity strategies, but a robust and efficient defense requires more than tools like firewalls and anti-virus. It is also essential to adopt best practices that add layers of protection, from making sure that only those on a need-to know basis choosing a data room software vendor have access to data, until the encryption and authentication.
It is also important that investment banks are aware of the importance of investing in a human firewall. Nearly 90% of security breaches are caused by human error, be it through mistake, intention or negligence. By creating a safe, secure workplace and training employees to be more vigilant, companies can prevent security breaches from occurring in the first place.
