Cyber Defense eMagazine July Edition for 2022

attack vectors has never been more vital. What most people outside the security industry—executives
included—often don’t realize is that 85 percent of breaches involve a human element (according to
Verizon’s 2021 Data Breach Investigations Report). The good news: most attacks are preventable if
employees are armed with the right information. This is why an effective security awareness training
(SAT) program is a must-have for any company, large or small, that wants to report fewer (or zero) attacks
on their organization’s digital infrastructure.
A new era of consumer relationships
According to a 2022 Edelman report, 88 percent of institutional investors “subject ESG to the same
scrutiny as operational and financial considerations.” For most companies, how cybersecurity is
implemented and prioritized is a core part of their overall governance as it directly impacts data security
and privacy, continuity of service and technology, and the operational integrity of their networks and
systems.
Beyond its broad range of governance implications, cybersecurity is particularly crucial at a time when
consumers are extremely worried about how their personal data is being collected, stored, and used.
According to Pew Research Center, 81 percent of Americans say the potential risks of companies
collecting information about them outweigh the benefits, while another 79 percent say they are concerned
about how companies use the data they collect. This is a powerful reminder that companies should have
comprehensive and transparent data privacy and security policies, as well as an SAT program capable
of keeping the company safe.
ESG reporting on initiatives related to cybersecurity not only builds trust with investors and provides a
level of transparency for the public record, but it also ensures compliance with regard to consumer data
protection. All you have to do is look at the headlines to see that companies face an unprecedented and
constantly evolving cyberthreat landscape—from the increasing frequency and destructiveness of
cyberattacks to the threat posed by state-sponsored cyberwarfare. Cybersecurity awareness among
employees ensures human defenses against all these cyberattacks, which drastically reduces
companies’ vulnerability.
Taking responsibility for building a cyber-aware workforce
Social engineering can take countless forms, which is one of the reasons it has proven to be such a
versatile tactic for infiltrating many different organizations. Cybercriminals use manipulative techniques
such as email subject lines demanding “urgent” action, coercive messages threatening legal and
professional consequences, or impersonations of government agents (especially law enforcement and
the IRS). When companies don’t have well-trained employees, they’re especially susceptible to these
deceptions, which poses a direct risk to their employees, customers, and other stakeholders who engage
with them.
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