“Significant benefits to training employees are mitigating the anxiety of cyber security uncertainties, eliminating risky behaviours and instilling organisation-wide security best practices. Our company gains from employees having cyber security awareness as they are empowered, and we save time and money.”
For the second instalment discussing cyber security with varying businesses, we’re talking with Stephen Curry - CEO of CocoSign. CocoSign is a web-based tech company offering electronic signature software to help companies automate their paperwork workflow through a programmable logic signing system.
What is the biggest cyber security challenge to your business?
Operating solely online, our most prominent challenge to date has been phishing attacks - accounting for 90% of all breaches and responsible for most of the losses. These attacks target employees and consist of attackers posing as a trusted contact to convince users to open malicious links, download malicious files, or provide sensitive information, account details, or credentials.
Will you be increasing cyber security investment next year?
We will be increasing investment in cyber security in 2022 to enhance education and prevention. This is because small businesses account for a huge portion of cyber attacks and are vulnerable due to typically lacking sophisticated security measures. Looking at phishing scams in the industry, 97% of employees fail to recognise emails as phishing ploys, and 86% of businesses and organisations have at least one employee who attempts to connect to a phishing site from a suspicious email - warranting the need for team training.
Significant benefits to training employees are mitigating the anxiety of cyber security uncertainties, eliminating risky behaviours and instilling organisation-wide security best practices. Our company gains from employees having cyber security awareness as they are empowered, and we save time and money. There is also compliance, threat reduction, no downtime, and increased customer confidence.
How do you currently train your workforce in cyber best practices?
We currently train our teams by undertaking cyber security workshops to make the topic clear to the workforce, encourage them to take care of their digital platforms, educate them on spotting suspicious activities, and reinforce confidentiality. We will be increasing investment in training incorporating gamification and hands-on learning, as they are proven to be beneficial to learning - leaving employees more engaged, happy, and loyal. Education is also more informative, easier to follow, and fun.
What advice would you give to other businesses looking to invest in cyber security?
My advice to other businesses looking to invest in cyber security is to prioritise it, ensure the use of multi-factor authentication, and put policies in place to guide staff. It’s an area businesses across the board should be looking into and putting plans in place.
Thank you to Stephen Curry for your input.