Annually, the World Economic Forum (WEF) unveils a comprehensive global risk assessment by collaborating with various public and private entities. This report examines risks across three temporal scopes: immediate concerns spanning the next two years, longer-term issues projected for the next decade, and the repercussions of current global crises as they converge toward the decade's end.
In the WEF Global Risks Report 2023, primary concerns revolve around the persistent cost-of-living crisis and the growing environmental challenges, with short-term and long-term dominance, respectively. However, less conspicuously, the report highlights an escalating risk of cybercrime and insecurity. Cyber threats have emerged as key newcomers in the report's top 10 risks, reflecting our increasing reliance on digital infrastructure, which, when disrupted, can profoundly impact our lives.
This recognition of mounting cyber threats marks progress, yet it underscores a potential lack of preparedness. The "new entrant" status implies that many businesses and organisations may not have established the necessary security measures and infrastructure for a secure transition into the future. Consequently, cyber breaches are likely to continue rising due to this foresight deficit.
The Cost of a Security Breach
The prevalence of security vulnerability is evident all around us. According to Techopedia, the global average cost of a data breach was $4.35 million in 2022, with there being a total of 493.33 million ransomware attacks detected in the same year.
One particularly concerning type of network attack growing in frequency is DDOS attacks. This is where a network is bombarded with an excessive volume of data requests. This surge of incoming traffic overwhelms the system, much like too many vehicles on a road, making it slow down or even crash.
Network Security
On top of DDOS attacks, networks may have a number of other vulnerabilities due to the fact they represent an entry point into a system. Preserving the functionality and integrity of an organisation's network and data encapsulates network security. This realm encompasses both the hardware and software components of a network, with the primary objective of thwarting a myriad of threats from infiltrating and proliferating within an organisation's networks.
A safeguarding mechanism involves a multi-layered defence strategy positioned at the network's periphery and within its confines. Each security layer boasts distinct policies and controls. For instance, authorised users gain access to network resources tailored to their specific roles, operating within a principle of least privilege, while malevolent actors encounter barriers to prevent any illicit activities.
Network security stands as a fundamental necessity for every organisation, directly influencing its capacity to securely provide services and products to employees and customers.
Ensuring Danone’s Network Security
As a global manufacturer of Fast Moving Consumer Goods and Early Life Nutrition, Danone have to secure critical manufacturing plants which not only has a commercial impact if there is a security incident but can also impact the supply of medicinal products to the market. Therefore, providing a consistent global network security standard is a key objective for their business. Together we completed Danone’s project targets while ensuring they could go forward with confidence in the robustness of their network security. With such a large global customer base, this allowed Danone to maintain its highly trustworthy reputation where client data safety remained a top priority.
Auditing Your Network Security with StableLogic
With over 30 years of sector experience, digital transformations in networks have been one of StableLogic’s key specialities. Having worked across numerous network modernisation projects, ensuring robust security has been a central piece of each operation. If you're considering an overhaul of your network, and want to ensure security as a top priority, fill out the form below to get in touch for a free initial consultation meeting.
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