Security questions you need to have the answers toFinancial Services organisations need to do more to protect their organisations from cyber-attacks and online threats.

The 2017 IBM and Ponemon Institute survey found that the UK average cost for each lost or stolen confidential record is £98 with the average total data breach cost being £2.48 million.
Around 60% of the cost of a data breach is attributed to response activities such as incident forensics, communications, legal expenditures and regulatory mandates. If your business is prepared, a big chunk of this 60% is avoidable.

As IT Manager or CIO of your organisation, you clearly need to prepare your organisation, not just for GDPR, but also to protect the company from external threats and to have a plan in place should a breach occur.

Here are 13 security questions you need to have the answers to:

  1. What actions are we taking to protect the company from the risks?
  2. How long will our business be down in the event of a cyber-security attack?
  3. Are our employees properly updated and trained? People play a huge role in prevention
  4. What is our plan to address cyber-security across our business?
  5. If a breach occurs, how much will it cost us?
  6. If a breach occurs, what is our response plan?
  7. Do we have the right security expertise on board?
  8. Do we promote a security culture?
  9. Are our applications backed up?
  10. Is our data backed up
  11. Do we have a secure backup not connected to any network?
  12. Do we have a Disaster Recovery plan?
  13. What is our disaster recovery process?

By Trilogy Technologies.