Monica Goulikar

Canadian businesses face an average data breach cost of $5.64 million, with only a staggering 39% implementing adequate cybersecurity measures. What???? That means 61% of businesses do not have adequate security measures in place. Cyber insurance plays a crucial role in mitigating the financial risks associated with cybersecurity breaches for Canadian businesses facing escalating cyber threats. With the average data breach costing millions, cyber insurance provides financial protection by covering expenses such as forensic investigations, legal fees, notification costs, and potential fines or penalties. This coverage not only helps offset the direct financial impact but also facilitates businesses in implementing robust cybersecurity measures by offering risk assessment and management services. Additionally, cyber insurance can enhance customer trust and loyalty by demonstrating a commitment to data protection, thereby safeguarding businesses against the substantial costs and reputational damage incurred from cyber incidents. #CyberInsurance #CyberSecurity #DataProtection #RansomwareProtection #BusinessSecurity #InfoSec #RiskManagement #DataBreach #supplychainsecurity #informationsecurity #cybersecurity #PrivacyProtection #CyberRisk #CyberAwareness #SecuritySolutions #CyberAttack #DigitalSecurity #CyberInsuranceCoverage #corporatebanking #CISO #corporateleadership #CFO #entrepreneur Wayne Harris, Chuck Seguin, Richard B. Kitney MBA, CMC, Ted E. Evans, Roland Lowe, Trevor Dunlop MCP, CEng, MIET

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🚨 Top 3 IAM-Related Security Breaches Last Week 🚨 Last week highlighted the crucial role of Identity and Access Management (IAM) in cybersecurity. Here are the top three IAM-related breaches: 1. Major Retailer Data Exposure: A major retail chain faced a data breach from a compromised employee account, exposing millions of customer records. Robust multi-factor authentication (MFA) and continuous access monitoring are crucial to prevent such incidents. 2. Healthcare Provider Insider Threat: A leading healthcare provider experienced an insider threat where a disgruntled employee misused privileged access to steal sensitive patient data. Strict access controls, audits, and behavior analytics are vital to detect and prevent insider activities. 3. Financial Institution Phishing Attack: A prominent financial institution encountered a phishing attack targeting executives, resulting in unauthorized transactions and data theft. Robust IAM strategies, user education, advanced phishing detection, and AI-driven threat response systems are essential in such scenarios. These breaches underscore the importance of reevaluating and strengthening IAM frameworks. Solid IAM practices are key to mitigating risks and safeguarding sensitive data. #CyberSecurity #IAM #DataBreach #Infosec #MFA #AccessControl #InsiderThreat #Phishing #CyberAwareness #SecurityBreach

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How can a robust vulnerability management program help address risks? Learn more during this on-demand webinar: https://lnkd.in/dawdbdV4

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TGIF! Below is a snippet of the keynote from the Stratejm, a Bell Canada company 4th Annual Summit on the talk related to Resiliency. In a nutshell, when I think of resiliency I think of physical exercise. Going to the gym or increasing your heart rate daily helps your body’s immune system, your mental health, you live longer.. but you can’t do it once a month to the get benefits. Cyber Resiliency is similar - continuous patching, monitoring, etc - all increase your organizations resiliency against attacks. Stop doing it and bad things happen! Hope you find this useful.

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"Cyber Security Executives" across Bharat , coming August 14, 2024, exercise extra caution on possible  ransomware groups' activities.  Please check for vulnerabilities in your ecosystem that may allow complete, easy bypass of all forms of authentication and provide attackers easy access to fully interactive enterprise environments meant to enhance application and desktop delivery, improve flexibility for end users, and provide secure remote access. If immediate patching is not possible then better check for (and clear) persistent sessions and restrict ingress IP addresses.

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Simplify Your Data Center Security with Check Point’s Managed Firewall-as-a-Service (MFaaS) --------------------------------------- The increasing complexity of cyber threats and the need for seamless scalability demand advanced solutions that can keep pace with organizational growth. Check Point’s Managed Firewall-as-a-Service (MFaaS) addresses these needs with a robust solution designed to simplify data center workflow orchestration while providing comprehensive security. MFaaS offers an on-demand, fully managed security suite that includes: (1) Monitoring and Alerting: Continuous surveillance of network activities with immediate alerts for high and critical events. (2) 24/7 Managed Service: Round-the-clock management to ensure uninterrupted security. Firewall and VPN Services: Advanced firewall and VPN capabilities to secure data transmission. (3) Intrusion Prevention System (IPS): Protects against known and emerging threats. (4) Application Control and URL Filtering: Regulates application usage and access to harmful websites. (5) Anti-Bot and Anti-Virus: Detects and mitigates malware threats. (6) Anti-Spam and Threat Emulation/Extraction: Prevents spam and neutralizes potential threats before they infiltrate the network. MFaaS is designed to integrate effortlessly with your existing security setup.

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🚀 The Power of Standards in Cybersecurity 🚀 In the ever-evolving world of cybersecurity, standards and frameworks serve as the foundation for building robust, scalable, and secure systems. They help organizations navigate complex challenges, ensure compliance, and align with global best practices. 🌐 Here’s a quick overview of some key standards shaping the cybersecurity landscape: 🔒 ISO/IEC 27001: A gold standard for information security management systems. Helps organizations implement a systematic approach to protecting sensitive information. 🛡️ NIST Cybersecurity Framework (CSF): A widely used framework offering a roadmap to identify, protect, detect, respond, and recover from cyber threats. 📜 COBIT 2019: Bridging IT governance and cybersecurity. Ensures that information security aligns with business objectives. 🌍 PCI DSS (Payment Card Industry Data Security Standard): Designed to secure credit card transactions and protect cardholder data from breaches. 💾 CIS Controls: A prioritized set of practices to mitigate the most common cybersecurity risks effectively. 🔗 GDPR (General Data Protection Regulation): A game-changer in privacy and data protection laws, ensuring the secure handling of personal data. 💡 These standards provide a strategic advantage, enabling businesses to stay resilient while fostering trust with stakeholders. Why it matters: Implementing these standards isn't just about compliance; it's about building a security and risk awareness culture. 👇 #Cybersecurity #Standards #ISO27001 #NIST #PCI #COBIT #GDPR #Leadership

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April 30 2024 Are the members of the Board of Directors of your organization aware of the pressing cybersecurity and privacy themes to help them oversee modern cyber risks? Directors should understand the many cybersecurity threats that are facing their organizations. This bulletin by Chartered Professional Accountants of Canada (CPA Canada) provides a valuable understanding of modern cyber risks and helps inform strategic priorities in this area. The document can be downloaded here: https://lnkd.in/dzFYx_2j

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For all the public sector folks involved with digital assets, or looking to learn more about the space, #NodesOttawa is a must attend! See how the infrastructure has evolved to connect the dots between on-chain and off-chain data, and how KPMG Canada and Chainalysis can help you with your objectives. Lots of eye opening insights in this one! Register using the link below (Public Sector Only Event) Brent Bowden Kareem Sadek, Sue-Ling Yip, Amrit K. Dev, James Emerson, Enzo Carlucci, George Djuric

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This is a good upcoming session whether you are a new IT auditor or an auditee that deals with IT audits. I would also encourage those trying to break into Cybersecurity to consider this informative session as IT Audit is a related career. #cyberaudit #itaudit #cyberrisk

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In recognition of #CybersecurityAwarenessMonth, Scotiabank’s VP of Cybersecurity Operations, Louise Dandonneau, sat down with the Scotiabank Perspectives team to discuss some of the latest scams Canadians need to look out for and actions we can all take to protect ourselves and our loved ones from cybercrime. Check out the episode to learn how to stay safe from someone that deals with these risks all day, every day! https://lnkd.in/gB2NzhEu

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Let's talk about incident response/crisis management. Swathi Joshi (one of the leaders I respect so much in our industry) had mentioned this to me a while back about how crisis management is an executive level skill. I find this to be so true as I grow further in my career. Cross functional incidents, crises, or other high impact problems require leading with a calm and thoughtful but action-oriented approach. It takes skill to strike a balance between tactical and strategic thinking in high stress situations. It's not only about, "let's all jump in and handle something", its about LEADING the path to resolution by driving action oriented next steps. When you do this over and over again, you build effective problem solving habits. These skills will transfer to other complex situations in any industry, and at any level, including crisis management at the executive level. I am dropping a few links from some of my past talks on this topic below: - Last year, I got to partner with my favorite Privacy partner Bianca S. to share how incident response is like a team sport where you find out mid-game whether or not your team is playing well. https://lnkd.in/gQC8R8Hm - And a few years earlier, Swathi Joshi, Bridget Pelletier-Ross, Kristen Beneduce and I did another fun discussion on the career opportunities in Incident Response. https://lnkd.in/ga9W857Y #leadership #problemsolving #crisismanagement

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Canadian Cyber Centre Warns Of Chinese Hackers Scanning IT Systems The Canadian Centre for Cyber Security has warned that a sophisticated Chinese state-sponsored cyber threat actor has been actively scanning Canadian cyber defenses throughout 2024, targeting critical institutions and infrastructure. The reconnaissance scanning has targeted multiple sectors, including government departments, federal political parties, the House of Commons and Senate, critical infrastructure, defense organizations, media outlets, and think tanks. While these scans do not necessarily indicate a breach, they often precede malicious cyber activities. The Cyber Centre describes these scans as equivalent to someone examining a building’s security measures, checking for vulnerabilities in its defenses. This activity is part of a broader pattern of Chinese cyber operations that surpass other nation-state threats in volume, sophistication, and targeting scope. Stay Connected to Sidharth Sharma, CPA, CISA, CISM, CFE, CDPSE for content related to Cyber Security. #CyberSecurity #JPMC #Technology #InfoSec #DataProtection #DataPrivacy #ThreatIntelligence #CyberThreats #NetworkSecurity #CyberDefense #SecurityAwareness #ITSecurity #SecuritySolutions #CyberResilience #DigitalSecurity #SecurityBestPractices #CyberRisk #SecurityOperations 

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🎯NIST CSF vs. ISO 27001 Which one is right for your organisation? Both the NIST CSF and ISO 27001 have their benefits, and choosing one (or both) comes down to business priorities and needs. Here are a few things to consider: The NIST CSF is best for organizations in the early stages of their cybersecurity journey or those looking for an organized, intentional approach for handling cybersecurity incidents. ISO 27001 is best for strengthening an existing cybersecurity program. ISO 27001 will help your business grow by demonstrating trust through a standardized certification. It’s common for large companies to require an ISO 27001 certification from the vendors they do business with, while the NIST CSF is rarely a noted requirement from customers. The NIST CSF guides you in building a powerful information security program, while ISO 27001 ensures that you’re keeping up with the latest best practices and helps you articulate your cybersecurity posture to prospects and partners. Stay Connected to Sidharth Sharma, CPA, CISA, CISM, CFE, CDPSE for content related to Cyber Security. #CyberSecurity #JPMC #Technology #InfoSec #DataProtection #DataPrivacy #ThreatIntelligence #CyberThreats #NetworkSecurity #CyberDefense #SecurityAwareness #ITSecurity #SecuritySolutions #CyberResilience #DigitalSecurity #SecurityBestPractices #CyberRisk #SecurityOperations 

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