The costs of data breaches are getting higher on a global level
Published by : Industrial Automation
Filip Cotfas, Channel Manager, CoSoSys.
How serious is the risk of data loss in terms of monetary implications and lost business globally?
The global average cost of a data breach reached US$3.86 million/breach this year, according to the Cost of a Data Breach report 2020 released by IBM and the Ponemon Institute. The rise in data loss and breaches, emphasises how the security plan is not in place or is fundamentally flawed among many companies. Data has increasing value, and the costs of breaches are getting higher on a global level, with organisations paying the price for years afterward.
Do companies following comprehensive cybersecurity measures need DLP service? How does it integrate?
Along with the WFH policy, the number of security threats is rising, putting businesses’ data in danger. With a Data Loss Prevention solution in place, companies can monitor and control the transfer and use of personal information remotely, ensuring that it is not sent outside the company or uploaded to unauthorised third party services.
Traditionally, USB ports and pen drives/storage devices are considered great risks, so how are these issues addressed, especially with WFH?
USB drives tend to leave the confines of company networks where security policies are at their strongest. USBs are small and, therefore, easy to lose, forget, and steal. Employees can connect personal USBs or flash drives of dubious origin to their computers while working from home. Third parties can plug in infected USBs in a moment of carelessness from an employee working remotely. A data breach can be disastrous for any company’s reputation and data protection legislation makes the consequences even more severe.
With a DLP solution in place, users will be authorised to transfer confidential data only on encrypted USB portable storage devices, and data will be safe even if a device is lost or stolen.
What is the scenario in India when it comes to DLP awareness and the opportunities for solution providers?
In India, the increasing number and frequency of recent data breaches have proven that organisations across all sectors are vulnerable to cyberattacks. Last year, India had the largest average number of breached records along with the Middle East and the US, according to the 2019 Cost of a Data Breach report. It’s more than clear that India needs to step up its cybersecurity measures. India has the second-largest internet user base, and it is essential both for enterprises and government authorities to be equipped with the necessary resources and to provide efficient cybersecurity and data privacy.
Which are the segments that are most at risk? How is the manufacturing sector impacted?
In India, the BFSI and the government sector are among the most vulnerable ones followed by healthcare, manufacturing, and energy. The Internet of Things (IoT) in organisations coupled with a growing trend for convergence and multi-system interconnectedness, introduces several threats and requires active security and monitoring. An increasing amount of sensitive data, like credit card numbers and Aadhaar numbers, is being stored online, and together with the expanding number of connected devices, it creates the need for an enhanced cybersecurity strategy that includes a variety of cybersecurity products.
How does your solution distinguish from the competition?
We provide Data Loss Prevention not just for Windows, but also for macOS and Linux computers, Thin Clients, and DaaS platforms. We are pioneers in the implementation of DLP for macOS and Linux, covering Mac OS X 10.4+ and several Linux distributions – Ubuntu, OpenSUSE, RedHat, and more. Our cross-platform coverage extends to all Endpoint Protector modules, including USB Enforced Encryption, enabling seamless management of all endpoints regardless of their operating system, all from a single dashboard.
India is a huge country. What is the CoSoSys strategy for India in terms of reach and spread?
In India, we are working through a distribution channel, with a large channel network that spreads Pan India. Our company has strengthened its Channel Partner Program, educating all partners with the right guidance to accelerate the adoption of a data protection strategy that works from enterprises for the WFH scenario. It included training sessions and webinars with the channel partners on a daily basis.
Filip Cotfas has an impressive background in sales and project management. As a Channel Manager at CoSoSys, he is utilising his extensive skills for daily operating efficiency with a focus on the South Asia, Middle East and Northern Europe markets.
Filip`s main responsibility is handling the existing Customer portfolio, as well as acquiring additional revenue streams, mainly by coordinating with the existing partners or enabling new partnerships, in order to help more customers benefit from our award-winning Data Loss Prevention solution. In the past years, he has been developing the sales strategies for his markets and built a successful relationship with channel partners. Filip`s objective is helping businesses overcome their security challenges and protecting their sensitive information. He is goal-oriented with a genuine passion for sales and business development.