Corporate security threats continue to be a growing concern for many organizations. The increased use of mobile devices and social networking creates a new round of risks organizations need to protect themselves from.

As cybercriminals increase the complexity of their schemes, many organizations aren’t even aware that their systems have been compromised. Due to the complexity and scale of recent breaches, the costs of cybercrime continue to escalate.

According to the RSA:

“As the new decade opens, cybercrime is diverging down a different path as cyber attacks move beyond the financial services industry and malware makes a shift from targeting consumer desktops to employees in the enterprise.”

How Much Do Security Breaches Cost?

According to the Bloomberg article "Security-Breach Costs Climb 7% to $7.2 Million per Incident":

"The cost to businesses of exposing data such as Social Security and credit-card numbers climbed 7 percent last year to an average of $7.2 million per incident. [...] About 85 percent of all U.S. companies have experienced one or more data breaches, Ponemon said, and the figure may be larger because many don’t have the ability to detect when information has been exposed."

Prioritizing Corporate Mobile Security

It’s safe to assume that cybercriminals won’t be backing down anytime soon. According to RSA's 2019 "Current State of Cybercrime" report, mobile security issues top the list of cybercrime schemes. This makes a lot of sense, as more people than ever are doing business on their phones, laptops, and other mobile devices, especially after the shift to remote and hybrid work models during the COVID-19 pandemic.

Think about the information you send over your phone via text or email, as well as the information you have saved on your phone.

For example, our company builds case management software for investigations. If people start sending information regarding investigations over email on their phone, they are going to want to ensure that there’s sufficient security to block the wrong people from getting their hands on it.

RELATED: 11 Cybersecurity Threats (Plus 5 Solutions)

Corporate Security on Social Media

Another trend identified in the RSA report is cyberattacks on legitimate platforms, such as social media sites:

“Cybercriminals [rely] on Facebook, Instagram, WhatsApp and other legitimate social media and messaging platforms to communicate with each other and sell stolen identities, credit card numbers and other ill-gotten gains. Our prediction that this trend would expand and continue has been borne out. By the end of last year, social media fraud attacks had increased 43 percent, as cybercriminals continued to find new ways to exploit social media platforms for gain.”

Organization-wide security threats come from both internal and external sources. As tools are built to increase information sharing and break down barriers within an organization, a world of security risk opens up. Managing and monitoring corporate security requires a strong commitment from everyone in an organization. Systems need to be updated regularly, IT personnel need to stay up to date on new security threats and trends and employees require ongoing communication and training to ensure they are doing their part to help out.

Download our free eBook to learn how case management software can help you track, manage, and prevent corporate security incidents in one centralized, secure platform.