| According to information from Cybersecurity Ventures, cyberattacks are the fastest-growing crime in the world. Yet PricewaterhouseCoopers reports that less than half of companies are sufficiently prepared for one of these attacks. Is yours? A good first step to protect your company from cybercrime is education. Learn the language of the world of cybercrime to increase awareness. Use the following list of basic cybercrime terms to get started. Access control: This involves permitting or prohibiting access to information or physical locations. Proper monitoring and limitation of this access is essential to maintain company security. Cyber insurance: This coverage protects your business from damage that results from electronic threats to your operations, including liability and recovery costs. Cybersecurity: This encompasses all policies, standards, and strategies relating to the security of company operations that occur in cyberspace. Encryption: This is the process of converting data from basic format into one that can’t be easily interpreted by those who are unauthorized to access it. Hacker: A hacker is someone who attempts to gain access to a system in an unauthorized manner. Incident response: When a cyberattack occurs, the activities that occur to address its effects are referred to as an “incident response.” This involves responding to the crisis, mitigating potential threats, preserving property and information, and analyzing response activities for optimal results. Intrusion detection: These processes analyze information from security systems to determine whether a security breach has occurred. Keylogger: This software tracks keystrokes to monitor a user’s actions. Macro virus: A macro virus can replicate and spread itself by attaching to documents and using the macro capabilities of an application. Malware: This software performs unauthorized processes that compromise the integrity of a system. Passive attack: With these types of attacks, the perpetrator doesn’t try to alter the system but simply makes use of it to obtain information. Phishing: This refers to attempts to deceive people into providing sensitive information. Redundancy: These are additional systems or subsystems that are operated to maintain functionality if another system should fail. Spoofing: This involves impersonating an email address to gain unauthorized entry to a system. Ticket: In relation to access control, a ticket is the data that authenticates someone, as a credential for that person to gain access. Trojan horse: This type of computer program appears to be useful, but has a hidden function that circumvents security and accesses confidential information or otherwise negatively affects the system. Worm: This program is self-contained and self-replicating and uses networking mechanisms to spread itself. Would you like to learn more about cybercrime, cyber insurance, and what coverage is available to protect your business from cyberattacks? Contact our office to review your current policies and determine what coverage is appropriate for your company. |
Cybersecurity Glossary: What You Need to Know
July 9th, 2019 | General Insurance, Sign Of The Times
