Cybersecurity is only expensive when you don’t have any

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In business, protecting your data (as well as your customers’) is fundamental for mutual trust. That’s why rigorous cybersecurity is becoming the norm in all fields of business activity. More and more companies are realizing that investing in cybersecurity today is a better business decision than being stuck with the consequences of a cyberattack later on. They’re putting in good risk management procedures to counter or react quickly to possible breaches in their systems. This is very positive news compared to what was the standard a few years ago.

But unfortunate, not all companies are so rational. Let’s take the case of Tesco Bank. Multiple warnings were sent to the British retail bank regarding deficiencies in the cybersecurity measures and software they had in place. However, Tesco ignored the notices and – surprise! – was a victim of a cyberattack. Tesco Bank chief executive, Gerry Mallon, confirmed to the Guardian that following the attack, they made sure to upgrade their cybersecurity measures.

Tesco now has to pay £16.4 million ($21.5 million USD) to the Financial Conduct Authority (FCA). In addition, the bank invested massively in a “comprehensive redress programme” to improve their cybersecurity measures in order to avoid being a victim again down the line.

“We have significantly enhanced our security measures to ensure that our customers’ accounts have the highest levels of protection.’’ Mallon affirmed.

Case study after case study shows that you shouldn’t wait until after you’ve been hacked to protect yourself. As we’ve argued before, security breaches are expensive and lead to a loss of trust. Don’t let this happen to your company. Make sure you have the best cybersecurity software protecting your data. You can try our services by signing up to our free trial here.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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‘GDPR: A Move Forward’ webinar

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This past July, Europe’s General Data Protection Regulation (GDPR) was passed into law. This new ePrivacy law brought forward two major changes: the first being tougher regulation on data collection and increased security measures to protect that data; second was new financial penalties for non-compliance that can go up to 4% of a company’s revenue or $25 million (whichever is higher).

Some companies already face huge fines as the result of GDPR. According to Erin Winick, associate editor at MIT’s Technology Review, British Airways might have to pay $650 million USD following a hack on their database.

“If it’s determined that British Airways didn’t do enough to protect consumer information, it could be facing a fine of up to 4 percent of its annual revenue (that works out to about 500 million pounds).”

In an upcoming webinar on the subject, Evizone Chairman William Wells, along with Joseph Rossi, Principal TurtleBay Advisory Services, and Mary Beth Borgwig, CEO of Standish Cyber Corp, will be discussing the post-GDPR changes, the timetable for implementation, the implications to Financial Service Organisations-Policies, Operation and Technology issues and how businesses can prepare for those changes.

This webinar, organized by FSO Knowledge Xchange, will inform business executives and tech specialists on their responsibilities and their obligations before and after a data breach, the penalties and liabilities imposed on processers and controllers, and most importantly, practical advice on how to improve your overall information security in line with the GDPR’s requirements.

The webinar is set to take place on September 13 from 10 am to 11:30 am EST. Interested parties can sign up at https://www.fsokx.com/Webinar/WebinarIntroduction.aspx?evId=63.

“Evizone’s military grade encryption is exactly what the GDPR webinar viewers are looking for,” said Mr. Wells. “Company executives today know how important it is to safely keep and protect their customer’s data and compliance archiving are for their businesses. With Evizone Communications Governance (ECG) they finally have a simple, secure, and easy way to meet their regulatory needs.”

Evizone is the perfect solution for your business’ electronic communications. Multinationals have failed to properly protect their clients’ data in accordance to the GDPR standards. Don’t wait for your company to face fines before getting your data protection to conform with GDPR. Visit our website to learn more about the Evizone Communications Governance which will allow you to be up to date with the latest regulations. You can test our free trial here.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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New York will have its own GDPR, and companies must be prepared

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GDPR has now been in place for a couple of months in Europe, and other jurisdictions around the world are following close behind. New York State’s own data protection regulation, voted into law in March 2017, will be fully implemented come September 4.

Financial institutions will be particularly affected by this new cybersecurity law. They will have to retain an audit trail of all financial transactions, which must be keep for at least five years. Authorities will be able to verify whether or not financial institutions are keeping customer information secured to their liking. Additionally, all companies will have to encrypt their business operations data. Once that data isn’t pertinent anymore, it will have to be erased using safe deletion procedures under the new law.

The Department of Financial Services’ press release quotes the DFS’s Superintendent, Maria T. Vullo, on the new regulation:

“New York stepped into the void and took decisive action to ensure appropriate minimum standards protecting financial institutions’ data systems, including consumers’ sensitive personal information. These new protections, which include encryption, access controls and audit trails, add crucial tools to the regulation’s prior requirements in protecting the institutions and consumers.”

There are many similarities when comparing the cybersecurity requirements in both Europe and New York. However, these two cases vary significantly in one way: the New York legislation has no clear consequences or penalties for not following the letter of the law. Those will be determined on a case by case basis.

The first noncompliants caught will be the ones to set the tone, and future penalties will be based on that precedent.

The fact that there are no precisions on the penalties associated to each violation means companies can’t compare the cybersecurity costs to the risk they are taking not properly investing in security.

Nicole Clement, a senior manager in the financial services security practice at professional-services firm Accenture, addressed the Wall Street Journal on this new regulation:

‘’That lack of specificity increases the risk to a financial institution because it is unable to say here is that true financial risk we are taking on, or the true regulatory risk. Time will tell as to what the penalties will be on this.”

Evizone is the perfect solution for your business’ electronic communications. We provide our customers with high-end data encryption and our proprietary software guarantees security for our user’s clients; all in compliance with new regulations. Don’t wait for your business to get caught before investing in cybersecurity. You can test Evizone in a free trial here.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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Hackers can easily get access to your data. You can thank Wi-Fi for that

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Researchers have long said that all our networks and devices are susceptible to hacking if not protected properly. This was re-emphasized following the ‘’KRACK’’ Wi-Fi breach that happened last fall. It’s remarkable that after all these years of wireless internet, there still are some flaws in its security. This is due to failings in the WPA2 protocol.

Key Reinstallation Attack, or KRACK, occurs when a hacker breaks the encrypted code that connects your router to other devices connected to that particular network. When hacked, the network is breached, and the hacker has access to the information circulating on it, from pictures to contact lists, all the way to emails.

Thankfully, there is a remedy to this kind of cyberattack that can be applied to your device. Users can install a backwards-compatible patch; however, this is not feasible for everyone. The patch requires the device to be running on the latest update of the operating system and some devices can’t support these updates.

Another solution would be to use a VPN. This creates a virtual layer around your data while being transferred from device to device through the vulnerable network, protecting it from hackers. This is how CEO of AnchorFree and HotspotShield, David Gorodyansky, described the VPN advantage:

“Using a VPN in this situation, to use a very, very simple metaphor, is as if someone has stuck their head through your window as you discuss sensitive matters – but you’re speaking a language they don’t (and can’t) understand,” he said.

Evizone works in a similar way. Any time you store or send a file over Evizone, the information is encrypted and kept wholly within the Evizone platform, making it impossible for anyone to access your data – whether it’s a KRACK attack or a traditional systems breach.

Evizone provides its customers with the best data protection services. Our military-grade encryption and our proprietary software allow you to share information with no fear of being hacked. Try for yourself by testing our free trial.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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The cyberattack on Atlanta should be a warning to all municipal governments

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We tend to forget how sophisticated and ambitious hackers can be. With a ransomware attack, cybercriminals managed to freeze the city of Atlanta’s information systems earlier this year. This blocked residents from paying the city, whether it be for utility bills or parking tickets. It also prevented city employees from accessing their computers. This lasted a full five days before it was resolved – and it still left lingering problems.

When it comes to cybersecurity, governments often hold the same view as many naïve businesses – they have a “it will never happen to us’’ mentality. This leads to a blatant lack of investment in secured equipment and services.

Here is what David Jordan, chief information security officer for Arlington County, Virginia had to say to the New York Times:

“It’s going to be even more important that local governments look for the no-cost/low-cost but start considering cybersecurity on the same level as public safety. A smart local government will have fire, police and cybersecurity at the same level.”

The New York Times also interviewed the Mayor of Atlanta, Keisha Lance Bottoms, who said that increasing the city’s digital defenses had not been a high priority, but that now “it certainly has gone to the front of the line.”

The hackers demanded $55,000 worth of Bitcoin to unlock the files and programs. Even though it ended up being paid, the city lost years of video footage and other important data.

This is a common non-financial cost for the victim of hackers. In addition to the ransom payments and the new costs associated with a proper cybersecurity strategy following a cyberattack, there’s other high-level inconveniences as well. Data is lost, regular procedures are delayed, employees are left with restricted access to their computers, and both reputation and revenue can take a hit. The list goes on.

A major American city has now been hit by a cyberattack. It could have been worse, and it could have happened to any business or government. Evizone has what it takes to protect you before an attack ever takes place – as Atlanta should have prepared for. We offer our clients nothing short of the best cybersecurity services in the industry. Our proprietary software and military-grade encryption will keep your data safe and out of the reach of hackers. You can visit our website to test our services with a free trial.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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The future of cybersecurity lies within the cloud

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The cloud is a technological marvel. It allows anyone to store and access any of their documents – whether important work files or treasured family photos – from anywhere in the world, regardless of what device they’re on. In terms of efficiency, it blows hard drives and other storage devices out of the water.

But there’s a catch: easy access for you also means easy access for hackers.

Understandably, companies are moving towards new technologies facilitating their employees’ day-to-day work and allowing them to access important data regardless of where they are. However, some companies are doing so blindly. Risks associated with transferring to the cloud are underestimated or simply ignored.

Some companies think that they can upgrade the technology they use but keep their old cybersecurity procedures in place. Rajiv Gupta, CEO of Skyhigh Networks, best illustrates the situation in an interview with FOX Business:

“Companies that try to use traditional tools to secure a new model of computing are understandably struggling. We’ve seen from our own research that while there is a year-over-year rise in workplace cloud usage, security and compliance lags as those same companies fail to proactively address emerging risks.”

In addition to having up-to-date cybersecurity software, users of the cloud should make sure to have solid passwords and use multi-step log-in verification to better secure the data they store. Michael Xie, CTO at Fortnet, emphasizes on the importance of having a strong password in the same FOX Business article:

“With the rise in identity theft, malware and phishing and scam sites, users need to be more careful than ever for their cyber protection. Most important thing to do is choose strong passwords and change them often.”

At Evizone, we make sure that your data is protected by securing it with our military-grade encryption and our proprietary software. You can learn more about Evizone’s services and sign up for our free trial by visiting our website at http://evizone.com/free-trial/.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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Small businesses are heavily impacted by data breaches. They only have themselves to blame

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The renaissance of the entrepreneurial spirit alongside the digital era is creating a world where innovation is one of the only constants. Nearly every new business’ data resides on the cloud. Although this helps have faster access to information, it also creates an immense treasure chest for hackers who know that entrepreneurs running small businesses rarely take cybersecurity seriously.

Here are some facts:

  • 43% of cyberattacks are aimed at small businesses.
  • Half of small businesses do not allocate a single dollar out of their budget for cyber attack risk mitigation.
  • 4 in 5 small businesses do not encrypt their data.
  • 60% do not regularly update their software.

The reason why these numbers are so poor is that many small business owners don’t think they’re potential targets –  they don’t think they hold any important or valuable data. However, more than six out of ten companies have in their possession thousands of emails, phone numbers and billing addresses. Hackers can easily access this information and sell that data to people managing databases for nefarious reasons.

Small business owners have to stop seeing cybersecurity measures as an expense and start seeing it as an investment. Stephanie Reilly puts it best in a Yahoo Finance article:

“There is a lack of awareness by SMBs regarding the impact a cyber-attack can have on their organization […] It can devastate a business, never to recover.”

Sadly, most companies only start protecting their data after being hacked and paying, on average, $880,000 in penalties, security measures and other new costs related to cybersecurity.

Your small business does not have to be in the 60% of SMBs that go out of business in the six months period following a cyberattack. Evizone has all the security measures and the perfect software to protect you, your data and your company. Visit our website at www.evizone.com to learn more about our products.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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Are Bitcoin exchanges a safe way to buy cryptocurrency?

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Bitcoin – through its underlying blockchain technology – has proven itself to be an extremely secure cryptocurrency. To date, there’s no record of any compromise of the Bitcoin system, and no Bitcoins have ever been stolen.

Bitcoin exchanges, on the other hand, are a completely different story. Exchanges are third-party services that offer buyers and sellers a convenient platform to trade in cryptocurrencies. They are also notoriously unsafe.

Much has already been written about the Mt. Gox fiasco that shut down the exchange in 2014. Coincheck and Bitfinex are the most recent exchanges to have their security measures compromised, leading to millions of dollars lost for their clients.

Coincheck is headquartered In Tokyo. In January 2018, hackers got away with 500 million NEM tokens – a type of cryptocurrency – worth ¥58 billion ($532 US) at the time. When asked just twelve hours after the hack if they had enough security measures to protect their customers, Yusuke Otsuka, a member of Coincheck’s board, said “[we are] doing [our] best but [we] might have come up short.”

The Financial Services Agency ordered the company to invest in its security practices to better protect consumers. They ended up paying Coincheck users the total amount they had lost from the breach.

Bitfinex, which is based in Hong Kong, was hacked in May 2015 and in August 2016. The latter was on a much bigger scale – around 120,000 Bitcoins were stolen in the heist. The losses amounted to $72 million, and Bitcoin’s value dropped by 20% as a result. It took Bitfinex nine months to pay back all their customers.

A Coindesk article explains how all this was allowed to happen:

“Despite the assurances, some observers have blamed the [Bitfinex] for “blindly signing” the withdrawal of nearly 120,000 BTC and wondered why no potential countermeasures were in place in the event of a movement of funds of that size.”

In other words, the exchange had no mechanisms in place to recognize fraud or to stop it. While Bitcoin itself is extremely safe, it is not always clear if third-party traders have the customer’s best interest in mind.

Looking to make your own company more cybersecure? Make sure to visit our website at www.evizone.com to learn more about our products. Evizone’s high-end proprietary data encryption software guarantees your data is protected from even the most experienced hackers.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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Hacking is not an IT problem – it’s a people problem

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Hacking is a reality of today’s world. Naturally, businesses are investing in data protection software in record numbers in an effort to minimize the negative impacts a data breach can have on them.

Hackers, however, are getting cleverer by the day. They target their potential victims, making high net worth individuals increasingly vulnerable to cyberattacks.

Great business leaders know they must delegate in order to maximize efficiency. But this skill can become a liability for the company. Hackers tend not to go straight to the source but target intermediaries by impersonating the employer via fake emails or by getting close to assistants and gaining their trust. Through them, the hacker will try to get important information that will allow a breach of unprotected accounts.

This situation is well explained in an article from the Globe and Mail:

“It may be pos­si­ble for at­tack­ers to find out lots and lots about [a target] and then use that to craft very clever … at­tacks,” says David Mas­son, Canada coun­try man­ager for the cy­ber-de­fence firm Dark­trace, based in Bri­tain.

There are many ways to avoid getting into such trouble.

First, you need to have the right approach. Masson says that you should not “think of this as an IT prob­lem, think of it as a se­cu­rity prob­lem.” And people are usually the weakest link. Staff need to be trained to spot scams. Your software protects against external threats, not unintentional internal ones.

Second, you need to put in place preventive measures. Some are technical,  like two-factor authentication – a technique that consists of authorizing an action by two means of communication to reduce human error. Additionally, you should have a policy of  not responding to unusual emails.

The article continues:

“You have to cre­ate a cul­ture of chal­leng­ing un­usual trans­ac­tions from new sup­pli­ers or new ac­count de­tails or pur­chases that are com­pletely out of the norm for that busi­ness en­tity,” says Den­nis Parker, vice-pres­i­dent of busi­ness bank­ing at Toronto-Do­min­ion Bank.

However, such procedures can only be so efficient. Businesses must have a high-end data encryption software like Evizone Communication Governance (ECG) that guarantees security for users. Evizone’s compliance archiving ensures that any unauthorized access can be traced and ended as soon as it is caught.

You can visit our website if you want to know more on how our military-grade encryption will help protect your company and your customers. A free trial is one simple click away.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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Cyberattacks may cost your business more than you ever thought

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Cyberattacks cost more than just the price of recovering lost data.

This may seem obvious, but multiple sources recently have argued that companies ignore the secondary costs associated with data breaches.

A 2017 Kaspersky Lab report indicated that a cyberattack on a small or medium-sized business will cost that company on average $117,000. This can be devastating to new and not-yet profitable start ups. And the cost for a Fortune 500 company is exponentially more. One estimate puts it at $150 million.

Why so much? For starters, companies usually harden their cybersecurity efforts and add layers of protection to prevent any future breaches. This should have been done way before an attack ever took place.

The affected company can also face regulatory penalties, be fined, and be sued by customers whose data was stolen by cybercriminals.

Others will see their business hurt financially. Stock prices almost always decrease in the days and weeks following a cyberattack. The reputation and value of the company diminish with every negative media article published.

Yahoo, the victim of three cyberattacks where two billion accounts were compromised, is the perfect example. The corporation’s valuation dropped substantially after the latest attack was announced, leading to $350 million being shaved off its purchase price when Verizon took it over. Now, they owe former investors $35 million for failing to report the attacks on time.

What’s more, Deloitte says that  the cost of raising debt actually increases after data breaches:

“Organizations appear to be perceived as higher-risk borrowers during the months following a cyber incident. Deloitte analyzed the credit rating of nine public companies (from the same industry and comparable in size) and observed an average Standard & Poor’s credit rating of A, and assessed these companies against companies that had recently suffered a cyber incident. It was observed that, in the short term, the credit-rating agencies typically downgrade by one level companies that have experienced a cyber incident.”

Every company, whether big or small, has a digital footprint today. However, this also creates a bigger pool of potential targets for experienced cybercriminals.

Evizone offers proprietary software that will protect your data through high-end encryption. Don’t wait for your business to be the next cyberattack victim before taking the necessary steps to protect your business from intruders. Waiting could cost you more than you ever imagined.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

 

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