Ransomware incident to cost Danish company a whopping $95 million
After a month, hearing aid manufacturer Demant has yet to recover after the attack.
Demant, one of the world's largest manufacturers of hearing aids, expects to incur losses of up to $95 million following what appears to be a ransomware infection that hit the company at the start of the month.
This marks one of the most significant losses caused by a cyber-security incident outside of the NotPetya ransomware outbreak --
Half of all Cyber attacks are targeted at small businesses
11 Eye Opening Cyber Security Stats for 2019
Small business owners often do not pay attention to cyber security, thinking they’re not even worth being attacked, and this is what makes them the perfect target.
Hackers may gain access to their data and steal consumer information, which may include personal details, credit card numbers, and social security numbers. According to Juniper research, small businesses make up to 13% of the entire cyber security market, surprisingly small businesses invest less than $500 in cyber security.
Cut IT costs? Open your mind to managed services
As trade issues and market uncertainties continue to roil corporate margins, manufacturers and other global companies are eyeing IT as one of the first expenses to cut. But in today’s operational environment, that’s like cutting a company’s own backbone. And for companies with in-house or contracted dedicated IT teams, costs really can’t be reduced much more without losing needed capacity.
However, there is a way that companies can swiftly pare costs while keeping the same amount of IT services—and even add new ones. But it’s one that many companies still resist.
Data Protection and Privacy Officer Priorities 2019
In response to the changing data privacy landscape created by the enactment of the European General Data Protection Regulation (GDPR) last year, CPO Magazine has released a comprehensive report outlining the challenges and priorities of data protection and privacy officers around the world in 2019.
The report is based on a survey of 252 global privacy professionals working for a wide range of organizations across 14 different industries. As the report outlines, organizations are taking important preliminary step to build a privacy-aware culture and enhance their governance of data processing activities. But are they doing enough?