SES Blog

We are overwhelmed by stories of organisations falling victim to cyber threats but a recent report released by ForgeRock, the ForgeRock Consumer Identity Breach Report puts the overall scale of the situation into perspective, summarising that 5 billion records were exposed by breaches in 2019 alone.

Worrying figures release recently in the fourth annual Hiscox Cyber Readiness Report state that one in six businesses are still opting to pay ransoms demanded by malicious individuals when falling victim to ransomware attacks.

Recently we published an article summarising some of the findings from Proofpoint’s 2020 “State of the Phish” report. That article focused on the rise in phishing threats over the last 12 months. However, this week we will be focusing on another concerning finding from the report – a lack of understanding when it comes to common phishing and ransomware threats.

When setting up an Escrow agreement to protect hosted applications, ensuring you can retain access to the most current version of your application data should be your number one priority. 

Security threats are increasing year on year and 2019 was no different. Organisations across the world were constantly targeted by scams and vast quantities of data was breached by malicious actors. 

In light of the considerable rise in security breaches we have witnessed over the last 12 months, security has become a major concern amongst businesses.

The vast majority of businesses are heavily reliant on third party software owners to develop and maintain their business critical applications.

Validation is an important step in the Software Escrow process. It provides an audit of the application development process to determine whether all the pieces required to build the application are present and accurate.

Barely a week goes by without news of another cyber incident making the headlines and the stakes have never been greater for businesses. Data theft has become commonplace, the scale of ransomware demands has risen steeply and the environment businesses are operating in has become more hostile than ever.

We are now almost two years on from the introduction of GDPR. During the first year of enforcement, the Information Commissioners Office (ICO) were quite lenient in their enforcement of the regulation, giving businesses the extra time they needed to adapt to the tightening regulations.

Software Escrow is essential to protect your business applications, especially those which are bespoke, highly customised, business critical or revenue generating as the time and financial cost of sourcing suitable alternatives in the event your supplier is unable to support them can be astronomical. 

A recent report by cyber security company Proofpoint highlighted that 55% of all organisations were successfully breached by phishing scams in 2019.