Empowering Cybersecurity: The Key to Success Lies in Technology and PartnerBy: Thomas McLaughlin | August 11th, 2023
The MOVEit and Go Anywhere vulnerabilities have affected nearly 500 organizations and 24 million people to date. Learn how you can be affected, what information is exposed, and how your technology and partner can ensure your data security is optimized for the future.
According to IBM, the global average cost of a data breach has reached an all-time high this year of $4.45 million per incident.
These attacks manipulate your application’s database leaving you vulnerable to:
- Loss of confidentiality and exposed sensitive data
- Compromised authentication enabling others to connect as another user
- Breached data integrity permitting others to read, change, or delete information
Even if your organization doesn’t use the aforementioned applications, it’s possible your trading partners were affected, which means you’re not totally out of the woods. Make sure you reach out to your vendors to find out if they use MOVEit or GoAnywhere and what steps they’ve taken to respond to the breach.
Mitigating the risks
It’s been a nightmare for some of the world’s largest financial institutions, insurance firms, and government agencies over the past few months as the breaches continue to slowly uncover. As threats like these become more sophisticated and frequent, the need for the right technology and partner are becoming more apparent–and security leaders are getting the point. In fact, 51% of organizations are planning to increase security investments as a result of a breach, including incident response (IR) planning and testing, employee training, and threat detection and response tools.
The events of the past few months have also underscored gaps some organizations may have when it comes to their software, networks, and applications–including relying on outdated or insufficient technology. It’s important to consider technology options that are mature and core to businesses across the globe (e.g. IBM Sterling solutions for managed file transfer).
$1.76 MILLION: that’s the average savings for organizations that use security AI and automation compared to ones that don’t
How we can help
At CoEnterprise, we’ve worked with many large financial institutions to help secure their file transfer processes with trusted and reliable IBM technology. We can assess your system to identify strengths, potential areas for improvement, and recommendations on changes moving forward that will enable you to safeguard your sensitive information and maximize your investment.
Our team of IBM Sterling experts will utilize a comprehensive scorecard to collect pertinent data and build an actionable roadmap. This will enable you to identify and address bottlenecks before they negatively impact your business so you can avoid devastating breaches like Moveit and GoAnywhere in the future.
Ready to learn more?
If you’re interested in learning how we can help you mitigate data leaks brought about by the Moveit or GoAnywhere vulnerabilities and prevent them going forward, schedule some time with one of our integration experts today.
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