Cyber fraud: a growing threat

To say that the IT sector has undergone many revolutions in recent years would be something of an understatement. Artificial intelligence, 5G, quantum computing, augmented reality (AR) and virtual reality (VR)… new applications and data-related possibilities have proliferated in many business sectors. This creates a need: the need to combat cyber fraud proactively and at an early stage, and not to underestimate the risks associated with these technologies. We discuss why and how to set up an internal security policy

Cybersecurity:a high-risk issue

According to a recent study by Accenture, “more than three-quarters of executives (76%) believe that the stakes relating to innovation have never been higher.” Yet many of them underestimate the impact of potential cyber-frauds on their business.

Underestimated challenges

Although new technologies represent tremendous potential for companies, many executives seem to believe that these promises bear no risk for their business. In fact, according to the study conducted by Accenture, only 31% of respondents say they are aware that 5G poses “a significant risk”. With regard to quantum computing, 28% hold this view. AI, on the other hand, is seen as a security risk by 45% of leaders. Better, but not enough.

Genuine risks

The technological environment has evolved, and the world of cyber-fraud with it. Indeed, hackers have shifted in the space of a few years from individual – and sometimes home-grown – attacks to organised and industrial attacks. These are all the more difficult to detect, and data (industrial know-how, contact details of customers and prospects, internal manuals, banking information, etc.) is, in fact, more at risk than ever. All this has a potential impact on the company’s business and its turnover, its financial health and the trust placed in it by its customers.

Many internal stakeholders involved

Who is responsible for organising the fight against cyber fraud? Many people are involved internally. Firstly, the CISO will be responsible for implementing the necessary means of protection, tailored to the technologies used, for the security of the data. Next, the CFO will orchestrate the control methods in relation to the major risks that could potentially be suffered by the company. Ultimately, he/she will also measure the impacts of the decisions taken. Finally, all employees have a responsibility for cybersecurity, which involves adopting new habits and practices.

> Also read: How can you manage your IT equipment without a CISO?

Different ways to fight cyber fraud

Fortunately, cyber fraud is not inevitable. Businesses can combat the risks associated with new technologies.

Preparing differently to deal with risks

In their quest for cybersecurity, companies need to change their paradigm and adopt proactive risk management methods for new technologies. First of all, a governance framework must be established: this framework will provide an understanding of who is responsible for what, who approves it, and who decides. It will also establish what risks are tolerable, and what risks are unacceptable

In addition, new habits must be acquired. These include a predominant emphasis on the written word; no order should be executed without a written record, in order to improve the traceability of operations. Better password security is also imperative. Finally, the management of access rights to internal documents is essential: not all employees require access to all information, especially when they are outside the company.

Finally, remember that one option is to entrust the company’s cybersecurity policy to an external company. This solution has several advantages, including greater efficiency, which is refined as and when the service provider encounters new cases

Cybersecurity specialists among French Tech champions

The option of outsourcing the fight against cyber fraud is all the more attractive given that some companies specialising in this field are among the “champions of French Tech”. Following on from Vade Secure in 2020, CybelAngel joined the club of the forty most promising French companies in February. Evidence of the country’s know-how in this field, giving it the ability to respond to concerns from companies of all sizes!

> Also read: The challenges facing CFOs in 2021

OLINN supports you in protecting your information system

Did you know... ? 7% of companies say they do not have a security policy, and 37% of CISOs report that they do not have an infrastructure budget.

4 reasons to rent your IT equipment and thus struggle against cyber frauds

  1. State-of-the-art equipment : Computer hardware rental covers not only hardware but also software - applications, software packages, firewall, security systems, CRM, etc. It ensures that you always have an efficient fleet, because it is always equipped with recent hardware and software. As leases are scalable, they will allow you to replace your IT equipment as you need it or as it becomes obsolete.
  2. A homogeneous asset pool : To significantly simplify management and cases of mismanagement by your employees. A study by the Teamquest software company, conducted in 2015, reveals that a company suffers an average of 8 unforeseen IT problems… per week.
  3.  Outsourced management : With Parc Manager, you can focus your IT strengths and resources on productive activities, freeing up time to develop your cybersecurity policy by making your teams aware of risks and best practices.
  4.  Technical expertise tailored to your needs : Lastly, not all SMEs have the advantage of a technical team specialising in networks or infrastructures. With OLINN, you benefit from our expertise and partner network based on your digital requirements


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