Security and fraud update – 2019

The following general business systems security information was shared at our customer event in August 2018.

Looking for secure IT systems

There are three basic principles to look for to make sure you have secure IT systems:

  1. Dependability: Is your equipment high-quality, expertly configured and monitored 24/7?

  2. Responsiveness: Does your IT company respond immediately when there’s a problem, and do they explain clearly why the problem occurred, and how they fixed it?

  3. Security: Does the system protect against data theft (which is more prevalent than ever before) and ransomware?

Public vs private cloud hosting

Public clouds are the most common way of deploying cloud computing. The cloud resources (e.g. servers and storage) are owned and operated by a third-party cloud service provider over the internet. In a public cloud, you share the same hardware, storage, and network devices with other organisations, accessing services and managing your account using a web browser.

Public clouds often carry lower costs and maintenance and can be highly reliable through a network of servers that ensure against failure.

On the other hand, a private cloud is a customised hosting system specific to the individual organisation using it. In a private cloud, the services and infrastructure are maintained on a private network, which makes it easier for your organisation to integrate with other solutions and perform updates when it suits you.

Private clouds are also more flexible and secure – resources aren’t shared with others and your organisation can customise its environment to meet specific business needs.

Information security

Data breach is big business, but there’s comparatively low investment in keeping it at bay. For example, where natural disasters cost the global economy $300 billion in 2017, cybercrime cost the global economy close to $3 trillion, but only $84 billion was spent on cybersecurity.

It pays to take a multi-pronged approach to implementing effective cybersecurity measures by having effective systems and training the people using them correctly.