Marymount Manhattan College has proactively dedicated $3.5 million over a span of six years to fortify its online data safeguards. The impetus for this strategic move was a meticulous audit by the New York Attorney General's office, unearthing a considerable lapse in their cybersecurity. This lapse culminated in a 2021 breach that placed the sensitive data of around 200,000 individuals in jeopardy.
With cyber threats growing in complexity and frequency, such an investment by the college is both timely and praiseworthy. Drawing attention to the surging costs associated with breaches, an IBM report highlighted that the average expense incurred from a data breach soared to $4.24 million in 2022, a noticeable surge from $4.11 million the preceding year. Alarmingly, the report also pinpoints that it takes an average of 287 days to detect and rectify such breaches, granting malefactors a generous window to manipulate the exposed data.
The financial allocation by Marymount Manhattan College is slated to be channeled into a myriad of pivotal cybersecurity avenues. This encompasses a rigorous data protection framework, deploying avant-garde encryption techniques for personal data, and ushering in multi-factor authentication mechanisms for its network clientele. Additionally, the plan incorporates regular cyber penetration assessments and the systematic elimination of archaic student data. By instituting these initiatives, the college aims to robustly amplify its digital defenses and insulate itself against potential breaches.
In parallel to the college's commendable commitment, it's imperative for all organizations to actively adopt an array of protective mechanisms against cyber onslaughts. This encapsulates creating a culture of cybersecurity awareness among staff, enforcing stringent password mandates, punctual software updates, consistent data backups, and formulating a responsive strategy to counteract cyber intrusions. Adhering to these guidelines not only minimizes vulnerability but also deters the potentially catastrophic implications of cyber infringements.
In a hybrid work world, an effective balance between flexibility, productivity, and robust cybersecurity measures is crucial. Without it, businesses face a ticking time bomb of security threats. As businesses continue to navigate the challenges of the hybrid work model, partnership with a skilled MSP is no longer a luxury but a necessity to stay secure and in business. Protecting yourself is getting tougher but must be done to keep your business or government agency, school, state, city, etc. running. Ask the Hybrid Work Experts at?Apex Technology Services?about how they can help your organization stay secure.