Are you doing enough to protect your business from cyberthreat? With cyberattacks at an all-time high, you may not be as prepared as you need to be. You might even think your business is too small to be targeted, but think again: the Verizon Data Breach Investigation Report states that 43% of online attacks are now aimed at small businesses. Cyberattacks are also expensive – according to the FBI’s Internet Crime Report, the cost of cybercrime against small businesses totaled $2.4 billion in 2021 alone. So when you’re surrounded by bad actors, what can you do to protect yourself?Fortunately for all of us, there are people out there like Cadence Bank’s Chief Information Officer Kevin McMahon and Brendan Monaghan, Senior Producer with Cadence Insurance. Brendan and Kevin both keep up to date with the latest cyberthreats and have some simple approaches they recommend for protecting your business. On this episode, you’ll learn what common cyberattacks might look like, their most frequent targets and what to do if you have an incident. Plus, we’ll cover how to transfer your risk with the fast-evolving segment of cyber insurance.So join the cyberthreat triple threat – Kevin, Brendan and Patrick – and together we’ll brave the phishy waters of cybercrime.Highlights:
The growing threat of cyberattack (4:08)
The consequences of cyberattack (5:03)
Who’s at risk? (7:03)
Social engineering (8:46)
The number one way to protect your business (10:32)
Phishing (11:34)
Business email compromise (12:54)
Ransomware (13:50)
Concrete steps to protect your business (15:29)
Cyber insurance: how to assess your options (18:27)
Incident response planning: every second counts (20:30)
Incident response planning: build the right team (20:45)
Cyberthreat wrap-up (21:34)
Links:
Cadence Bank Website
Cadence Bank Twitter
Cadence Bank LinkedIn
Cadence Insurance Website
Kevin McMahon LinkedIn
Brendan Monaghan LinkedIn
Verizon - 2022 Data Breach Investigation Report
FBI - 2021 Internet Crime Report
Feedback:If you have questions about the show or topics you'd like discussed in future episodes, email our producers, sheena.cochran@cadencebank.com or danielle.kernell@cadencebank.com.