Oakbrook’s Chris Martinez, Managing Director of our Family Office Practice, recently spoke at the St. John’s University Cyber Law Symposium on February 28th.
Chris’ topic of discussion was on companies implementing and/or maintaining Employee Awareness and the ‘Internal Threats Lurking Within Corporate (Fire) Walls’. This program focused on the potential data and privacy threats employees introduce behind corporate firewalls, and discussed common data breach scenarios that originate from the employee, issues with BYOD policies, and proper training of employees.
Chris states, “The frontlines of the war against cyber attacks are shifting away from server rooms guarded by corporate IT to the desktops of rank and file employees.”
- Studies indicate 80% of security breaches are a result of internal threats, and mostly unintentional, emphasizing the importance of employee education, training, awareness, and assessment programs.
- Poor password management practices and the plethora of data that can be mined from our online activities have made social engineering a more prevalent and easier attack vector for cyber criminals to prey on our gullibility.
- Leading security firms estimate that new malware deviants are discovered every 90 seconds, meaning hackers are constantly adapting and testing their attacks to see what works.
- While there are plenty of technology solutions and tools that can aid in shoring up cyber defenses, this is not a spending problem, but a human, behavioral, and cultural problem.