Office 365 has many great features but full data backup is not one of them.

Switching to Office 365 is a smart business decision for organizations looking to enhance business agility, strengthen team communication and collaboration, and decrease the time and money spent on on-premise IT systems. However, you cannot harness the full benefits of Office 365, including Exchange Online, SharePoint Online and OneDrive without investing in a good Office 365 backup service.

Many IT professionals incorrectly assume that Microsoft will have a full copy of their data in the event of data loss, but the reality is that Microsoft’s policies do not guarantee complete and speedy restore of lost data. In cases where Microsoft may be able to retrieve the data, the process is still slow and cumbersome.

By investing in a comprehensive Office 365 backup solution, businesses can:

1. Mitigate the impact of human error

Mistakes like email, file and user account deletions happen all too frequently and account for significant productivity loss. An Office 365 backup solution lets IT administrators easily retrieve purged files, saving businesses valuable time and money.

2. Maintain access to data beyond basic retention policies

Office 365’s retention policy includes a brief retention period, typically ranging from 30 to 180 days. Quite frequently, data such as historical reports and emails, are needed much later to solve business problems, serve customers and/or to comply with audits.

3. Adhere to audit and compliance requirements

GDPR, PIPEDA, HIPPA and other regulations require businesses to maintain intact records for multiple years. Data backup and archiving solutions can help businesses remain compliant. Businesses remain protected from risks of legal action, potential public backlash and financial penalties that are associated with incomplete records.

4. Stay protected from cyber threats

Ransomware incidents have been front and center these days and show no signs of slowing down. By maintaining offsite/cloud backup of all their data, businesses can take the power away from cybercriminals and face cyber threats head on.

5. Get peace of mind knowing your data isn’t going anywhere

Ask yourself, how long can your business successfully operate without its data? A good Office 365 backup solution eliminates that what-if scenario by providing full data protection and complete peace of mind.

Learn More

Learn more about the reasons why Office 365 data back up is critical for businesses, and how businesses can best backup and protect their Office 365 data in our free whitepaper. Download Why Smart Business Leaders Are Investing in Office 365 Backup.

Cyber security threats and attacks are always evolving. Viruses, worms, trojan horses, spyware, adware and scareware have all been around for a long time. One type of malware, however, has been grabbing headlines and creating headaches for users and IT professionals alike: ransomware.

What is Ransomware?

Ransomware is a form of malicious software — malware — which encrypts documents on a PC, server or even across a network. Victims can often only regain access to their encrypted files and systems by paying a ransom, typically in bitcoin, to the criminals behind the ransomware.

A ransomware infection often starts with someone clicking on what looks like an innocent attachment, and it can be a headache for companies of all sizes if vital files and documents (think spreadsheets and invoices) are suddenly encrypted and inaccessible.

What do the numbers say?

  • Ransomware attacks rose 350% worldwide from 2016 to 2017 (Dimension Data, 2018)
  • 48% of IT consultants reported an increase in ransomware-related support inquiries from customers across 22 different industries during 2016-2017(Intermedia, 2017)
  • 25% of cyber insurance claims in 2017 were related to ransomware (AIG, 2018)
  • Total losses due to WannaCry ransomware forecasted to reach $4 billion (Cyence, 2017)
  • 72% of businesses hit by ransomware lost access to data for at least two days; 32% lost access for five days or more (Intermedia, 2017)

How can you protect yourself from Ransomware?

Ransomware can find its way even around today’s sophisticated malware protection. The best approach to security is multi-layered and requires vigilance from both IT professionals and their end users.

  • Always keep backups. Data can’t be recovered if it isn’t backed up. Have a strategy in place that covers every user, device and file.
  • Lock down administrative rights. Don’t give users administration rights, even on their own machines, unless it’s absolutely necessary.
  • Stay up to date. Keep systems and apps current with the latest patches to avoid exploits that rely on outdated code.
  • Keep every endpoint protected. Gateway protection can’t help when users insert a rogue USB stick. Make sure every endpoint has complete, current security.
  • If an email looks suspicious, it probably is. Teach users to trash emails that look like spam. Better yet, show them how to inspect email headers if they’re unsure of the sender.
  • Don’t open attachments. Unless your users are absolutely, positively sure that they recognize both the sender and the file, it’s better to leave attachments alone. If they do open attachments, they should never enable macros or executables. Suggest other ways to share documents that require authentication and have built-in virus scanning.

Veeam Insider Protection

At Storagepipe, our primary focus is protecting businesses’ data from any cyber threat or environment. Recently, cyber criminals have been becoming more sophisticated and learning to target backups as well as primary systems. Being in the business of offering total data protection, it was clear something had to be created to avoid such threats. As a Veeam Platinum Cloud Provider, Storagepipe can now provide an additional new solution to keep your data safe.

With the release of Backup & Replication 9.5 Update 3, Veeam introduced the concept of a Recycle Bin for customers sending offsite cloud backups using Veeam Cloud Connect. Coined Insider Protection, the solution enables a deleted backup protection option. This adds a new level of data security for cloud-based backups in the case of a malicious user gaining access to your backups or in the case of accidental deletion by an administrator.

Secure your cloud backup with Veeam and Storagepipe

Ransomware is not going away anytime soon. It is an evolving attack scheme that cybercriminals are pouncing on to gain a quick buck. For IT administrators, ensuring the lines of defense are strong against cyber threats and accidental deletions are key to creating a solid business continuity plan. Learn how you can improve your threat management with Veeam’s Insider Protection by contacting us here.

TORONTO, ON – February 26, 2019 – Storagepipe Solutions Inc., the leading Canadian company in backup and disaster recovery services, is pleased to announce its acquisition of GridWay Computing Corporation, Ottawa’s top IT Managed Services Provider (MSP) for small and medium businesses and organizations.

“I am very excited to welcome the GridWay team to the Storagepipe family,” said Steven Rodin, President and CEO of Storagepipe. “Adding to Storagepipe’s offerings, GridWay’s extensive cloud computing and managed services expertise will further expand our cloud services across North America and Europe.”

GridWay will remain an independent and wholly owned subsidiary of Storagepipe. It will continue to focus on delivering exceptional managed IT solutions, Infrastructure as a Service (IaaS), backup and recovery, Office 365, colocation through their state-of-the-art data centre, and other managed cloud services to the greater National Capital Region.

“The future is bright for both GridWay and Storagepipe. With our combined expertise and infrastructure, we will be able to deliver significant value to our clients,” continued Rodin. “I am also very happy to announce that the founders of GridWay, Greg Lean and Chris Kramer, will continue to lead GridWay and the managed services team.”

“Joining the Storagepipe family is a win for both GridWay and our customers,” said Greg Lean, Managing Director of GridWay. “We will remain independent and continue to deliver our high quality and customer focused managed services. With additional resources, we now have more opportunity to innovate with our solutions and grow our footprint within the Ottawa market. We are also excited to support and accelerate Storagepipe’s international expansion.”

Since its inception in 2001, Storagepipe has been expanding rapidly to serve customers with an industry leading portfolio of Backup as a Service (BaaS), Disaster Recovery as a Service (DRaaS), private cloud solutions, archiving and networking services. Storagepipe was also the first Veeam Platinum Cloud Service Provider in Canada and is a recognized leader in Veeam Cloud Connect and DRaaS services. “At Storagepipe we care deeply about protecting our clients’ data and delivering the best technology and user experience possible,” emphasized Rodin. “The acquisition of GridWay will enhance our leadership position by providing a full suite of managed cloud services to our clients.”

About Storagepipe Solutions Inc.

Storagepipe is a trusted global provider of secure and comprehensive cloud and data protection services. Since 2001, Storagepipe has delivered highly flexible and responsive multi-industry solutions to seamlessly protect virtualized, cloud and physical systems. Today, Storagepipe provides this broad range of robust cloud services from a scalable multi-tenant infrastructure to customers and partners throughout North America and Europe. To learn more about the Storagepipe experience, visit www.storagepipe.com.

About GridWay Computing Corporation

For over 15 years, GridWay has been offering cloud computing and managed services to hundreds of clients in the greater National Capital Region. In addition to our state-of-the-art data centre located at our headquarters in Kanata, we offer a wide range of managed IT cloud services, Infrastructure as a Service (IaaS), Office 365, colocation, hosted virtual servers and other managed cloud IT services including our very popular Total Protection Program. For more information, visit www.gridway.net.

For more information:

Steven Rodin, CEO
Storagepipe Solutions Inc.
pr@storagepipe.com
647-727-4901

We know your data is important to you. And you'd go the extra mile to retrieve it if it was to get lost. But do you know what that extra mile, or many miles, might look like? And if you’d even be successful in the end?

Unintentional, and unfortunately also intentional, data loss happens everyday and can cost businesses a fortune – sometimes even causing a company to go bankrupt!

Don't let this happen to you.

You can protect yourself and your company by not only ensuring that your data is securely stored, but by going that extra mile to get your data automatically backed up.

Storagepipe's robust portfolio of Backup as a Service (BaaS), Disaster Recovery as a Service (DRaaS),  Cloud & Hosting, and Archiving & Compliance solutions offers small and medium sized businesses complete protection and utmost peace of mind.

So when a catastrophe strikes, whether it's sprinklers going off in the office unexpectedly, a ransomware attack, a natural disaster, or an accidental file deletion, you can be sure that your data will be recoverable and your business will continue as normal.

That’s what we call giving your data the love and care it deserves.

Contact us today to learn more.

Many Canadian businesses are reeling from Mother Nature’s latest curveball. This year we’ve seen severe wind storms and heavy flooding in several parts of the country. It’s clear, Canada’s weather patterns are evolving and severe weather is occurring more frequently. In fact, The Insurance Bureau of Canada reported a record $4.9 billion in insured damage from natural disasters in 2016 – shattering the 2013 record of $3.2 billion.   

Your organization’s character is tested in times of crisis. But after business returns to “as usual” organizations are faced with asking critical questions about their business operations. Questions like: 

  • Do you have a business continuity plan?
  • How long can you function competitively?
  • If you are forced to slow down production, how much revenue will you lose?  
  • Will your clients remain loyal or be forced to work with someone else?  

At Storagepipe, we understand the anxiety and stress that comes with losing your data to a natural disaster. Our services provide you with piece of mind that your data is safe and secure – no matter your location. Storagepipe’s affordable Disaster Recovery as a Service leverages cloud-based resources and off-site storage to match your business’ unique needs. Don’t let a disaster disrupt your business operations. We can help you get back online in minutes.  

Contact us today to learn about how you can experience the Storagepipe difference.  

On November 1, 2018 the Government of Canada implemented significant changes to the Personal Information Protection and Electronic Documents Act (PIPEDA). Much like the new regulations released by European Union General Data Protection Regulation (“GDPR”) in early 2018, the government is putting the power back in the hands of the individuals whose personal data is being collected and stored. Non-compliance of PIPEDA can result in fines of up to $100,000 per violation. If your organization has not already done so, it is time to consider your obligations and create a plan to comply. 

GDPR and PIPEDA 

With the new regulations released by European Union General Data Protection Regulation (“GDPR”), the Government sought to harmonize the Canadian rules with the new GDPR data breach notification rules. Although PIPEDA has long held adequate personal information privacy protection, the Government took additional measures as it is considered this important for Canada-EU trade.  

Mandatory record-keeping for all breaches 

Much like the GDPR rules, Section 10.3 of PIPEDA requires organizations to keep and maintain a record of every breach involving personal information under their control. Organizations are also required to provide a report to the Commissioner with the requested records within a timely manner. Based on the report provided, the Commissioner may publish the information if it is in public interest and/or launch an investigation or audit based on the information in the breach file.  

The record-keeping requirement is an important compliance consideration and has the potential to create costs and risks for organizations. For example, there may be additional litigation claims in relation to breaches (including breaches that did not result in notifications to individuals), if the organization does not fully comply or report breaches.   

Record-keeping Requirements  

Organizations must maintain a record of every breach of security safeguards for a minimum of 24 months after the day the organization determines that the breach has occurred. The record keeping requirement is applicable to all breaches, not only those that give rise to a real risk of significant harm.  

In section 6.2 breach records must contain “any information that enables the Commissioner to verify compliance with [the breach notification and reporting provisions]” – meaning the Commissioner must be able to validate whether the organization notified and reported breaches as required by PIPEDA in each case. The regulation does not give organizations specific rules on how the records are archived but they must be able to provide the appropriate information on request.  

Data Breach Reports  

PIPEDA’s data breach obligation requires organizations to assess a number of factors in determining whether any breach of security safeguards have been compromised. It’s up to the organizations to consider the sensitivity of the information involved, the probability that the information will be misused and the potential for “bodily harm, humiliation, damage to reputation or relationships, loss of employment, business or professional opportunities, financial loss, identity theft, negative effects on a credit record and damage to or loss of property” when assessing risks. 

Data Breach Reports to the Commissioner 

If the Commissioner has requested a report, the regulation lays out what your organizations needs to provide to comply. The report must be made in writing and sent by any secure means of communication. The requirements are as follows:  

  • The circumstances of the breach and the cause. 
  • The date or period of time when the breach occurred. If the time is not known, the approximate period must be provided.  
  • The compromised personal information and extent of the breach.  
  • The number of individuals affected by the breach. If the number is unknown, the approximate number must be provided.  
  • Clearly laid out steps that the organization has taken to reduce risk or mitigate harm to individuals that could result from the breach. 
  • What steps the organization has taken to notify affected individuals? 
  • The name and contact information of a person in the organizations who will answer the Commissioner’s questions about the breach.   

Data Breach Reports to the Individual  

In section 3 and section 5 of the regulation, organizations must notify the individual who has had their personal data compromised. Unlike the GDPR, PIPEDA provides a lot of flexibility for organizations to decide based on the type of breach to indirectly or direct notify the individual.  

Indirect Notifications   

Indirect notification must be given “by public communication or similar measure that could reasonably be expected to reach the affected individuals.” In section 5, the regulation provides guidance on when should organizations utilize the indirect notification:  

  • Giving of direct notification would be likely to cause further harm to the affected individual. 
  • Direct notification would be likely to cause undue hardship for the organization. 
  • The organization does not have contact information for the affected individual. 

Direct Notifications   

Section 3 details that the notifications to individuals include sufficient information to allow the individuals to understand the significance to them of the breach, and to take steps, if possible, to reduce the risk of harm. PIPEDA requires the same requirements of the Commissioner’s report be provided to the individual. 

The components of a PIPEDA Compliance strategy:         
 

  • Ensure record-keeping for all breaches are archived for up to 24 months  
  • Create a cybersecurity strategy for the storage of sensitive data 
  • Managing the development of an Emergency Response Plan 
  • Ensure legal compliance is up to date with GDPR and PIPEDA 
  • Identify and assign a data privacy controller in your organization  
  • Request third-party service providers access to the breach file  
  • A privacy toolkit is available here for organizations to live up to its PIPEDA responsibilities.  

Storagepipe can help!  

With the implementation of GDPR and the PIPEDA changes to personal data – organizations must take control of how they obtain and protect personal data. With Storagepipe, we ensure your data is secure so you can get back to business. If you need help with keeping your data safe or creating a PIPEDA compliance strategy – contact us today.  

Data protection for manufacturers is not easy. With increased cyber-attacks, regulation changes, shrinking budgets, and a complicated political cross-border environment – data protection can feel like just another burden on the IT team.

Today’s growing manufacturing organizations face IT challenges that include increasing costs, evolving business requirements and aging technology. Finding new solutions focusing on ensuring the right processes and technology are in place are important to the growth of many manufacturing organizations. With these in place, attention can be turned to the important business of innovation and attracting/retaining top talent.

AGILITY IN MANUFACTURING

A manufacturer becomes much more agile through finding solutions that not only improve process but also bring together all the information needed to develop new products faster.  They also want to get them through the supply chain and on to the customer more quickly and cost-effectively.

With malicious insiders, external hackers and natural disasters on the rise, manufacturers must be proactive in protecting their data to avoid losing their competitive edge and credibility in the marketplace.

For many IT departments, dealing with sensitive information and increased regulation around how the data is used and stored has created increased pressure.  With structured and unstructured data – like CAD files, source code, business processes, proprietary systems and formulas being the most valuable intellectual property for manufacturers, finding systems to identify sensitive data is key to protect organizations before a disaster happens.  But for many manufacturers, the solutions are not cost-effective and don’t integrate well with legacy systems.

OUT WITH THE OLD AND IN WITH THE NEW

While finding new solutions can be hard for IT teams, the need to keep production running during an upgrade, paired with the uncertainty of what happens when you mix old and new systems together can be daunting.

The reality is that a large proportion of manufacturing organizations have some sort of legacy system to maintain. Machines of various vintages and conditions, a Manufacturing Execution System, or an aging AS/400 can create more complexity and the need for comprehensive heterogeneous options as departments try to implement new solutions.

COMPLIANCE AND REGULATION

In the past, manufacturers simply had to pass an occasional audit if regulations were in place. With increased data breaches and the government taking a regulated stance on cybersecurity, manufacturing organizations have had to increase education and implement new regulations and standards that they are required to follow.

With the implementation of GDPR, many organizations are having to find new ways to protect customer data along the supply chain but understanding how the data is used and processed can be complicated.

7 PRACTICAL TIPS TO PROTECT MANUFACTURING FROM GDPR FINES

The EU General Data Protection Regulation (GDPR) was created to strengthen how organizations handle the valuable personal data they are responsible for, whether they collect and process the data or contract a third party. Below are seven tips to help you get started.

Communicate – Before collecting personal data, explain what data you’re collecting, how you’ll use it, where it will be housed and who it may be disclosed to. If there is a breach, ensure you have a process to let people know within the 72-hour window.

Know what personal data means – GDPR protects people’s personal data. Take extra care of data regarding address, race or ethnicity, age, marital status, political opinions, religion (beliefs or non-beliefs), physical or mental health (including disability), sexual orientation etc.

Uphold individuals’ rights – Individuals are entitled to see what personal data you hold, where and how it is being used. They can also request to be forgotten which means you only have a short period of time to remove their information. Ensure your data is easily found and erasable – even when archived.

Data minimization – Don’t keep personal data for longer than is necessary; make sure that personal data is destroyed securely and in full.

Store information securely – Create new company protocols to increase data security. Use strong passwords and encrypt all personal data held on portable devices (such as laptops, memory sticks, and tablets).

Education – Ensure all employees understand the importance of keeping data safe and secure and what the processes are in regards to sharing and communicating data.

MOVING TO THE CLOUD

IT departments looking for technology to support new solutions while navigating legacy systems have found that cloud computing offers some compelling options. Depending on your needs, cloud hosting can help you keep costs down by decreasing your IT spend while providing a more flexible, agile and scalable option.

Cloud services also help to share data securely across platforms and with all partners, contractors, and suppliers while complying with strict regulations. The right service can provide organizations with a detailed audit trail to support demonstrating compliance in minutes.

It’s also important to understand when data is at risk. With ever-more sophisticated hackers going after important data, cloud technology can increase visibility. Utilizing data cloud services provides an easy, flexible and safe way to control, detect and respond to threats – both insider and outsider.

Although cloud and data protection technologies cannot solve all of the manufacturer challenges, they can contribute to innovative solutions that deliver the right goods to the right place at the right time—as quickly, reliably, cost-effectively, and secure as possible.

WE CAN HELP!

At Storagepipe, we do the work so you can get back to business. Our data protection and disaster recovery services provide the safe, secure and flexible controls to protect your structured and unstructured data against insider and outsider threats. With Storagepipe, rest assured your data is secured wherever it resides and wherever it is shared – across networks, storage, endpoints or in the cloud – across any operating environment.

Don’t let any disaster or data loss interrupt your business – talk to a Storagepipe expert today.

With the adoption of GDPR and the Canadian government providing regulatory support in combatting the threat of personal data protection, it’s a chance for organizations – both big and small – to create their own cybersecurity plan.

What can companies do to recognize and combat cybercrime and improve their cyber-education? Here are some tips and best practices that will help you and your company recognize cybercrime and combat the threats.

  1. Keep your team educated on cyber-awareness

Education and cyber-awareness is the best defense. Management and employees should be trained to understand IT governance issues and control solutions as well as recognize concerns, understand their relevance and respond accordingly. Firms should also invest in cybersecurity education programs for employees to learn how to protect their computer and personal information and how to be aware of the many hacktivists and cyber-criminals that scour the Web in search of targets and vulnerabilities.

  1. Collect and analyze security logs for suspicious or abnormal activities

Your IT team should be actively conducting security investigations, regular audits, log reviews, and easy monitoring.  Any seriously suspicious behaviour or critical events must generate an alert that is collected and analyzed on a regular basis.

  1. Keep systems and applications patched and up-to-date

Hackers, along with malicious programs or viruses, find vulnerabilities in software that they exploit to access your computer, smartphone or tablet. Installing updates fixes these vulnerabilities and helps keep you secure.

  1. Use strong passwords and keep privileged accounts protected

Reduce the risk of attacks using compromised privileged account credentials. Create an inventory of accounts, applying change management policies to passwords, and store passwords securely.

  1. Ensure strong encryption

Encryption keeps you safe. As the last and strongest line of defense in a multilayered data security strategy, encryption is used to safeguard customer data and help you maintain control over it. Encrypting your information makes it unreadable to unauthorized persons, even if they break through your firewalls, infiltrate your network, get physical access to your devices, or bypass the permissions on your local machine. Encryption transforms data so that only someone with the decryption key can access it.

  1. Third Party Management

Financial institutions should work with vendors to find tools that fit their requirements without the need to hire more IT personnel. Advanced data protection solutions can help to reduce the strain placed on the IT team and the security operations centre while keeping an organization’s sensitive information safely under lock and key.

We can help!

In the financial services industry, downtime can be detrimental to your reputation and businesses operations. Storagepipe’s backup and disaster recovery solutions can help. Our solutions seamlessly address your backup, recovery, compliance, security and archival requirements.

With many major financial institutions including credit unions, insurance, and financial services firms as clients, let us provide you with total peace of mind that your data is securely protected. Start your Storagepipe experience today.

Click here to read Part 1 and Part 2 of our series: Financial Services: Maintain control of your data in the face of an attack

In part one of our Financial Services series Maintain Control of your Data in the Face of an Attack, we discussed the different types of security threats you may face. In part two we will review the regulatory changes the GPDR has created for financial services firms and how the Canadian Government has responded to growing cybersecurity concerns.

General Data Protection Regulation (GDPR)

On May 25th, 2018, the GDPR came into effect providing EU residents with more control over how their personal data is used and stored. This new regulation has set the stage for companies across the globe to review their own data protection regulations.

Is the GDPR relevant for non-EU Financial Services firms?

For the financial services industry, the GDPR is very relevant to the client base. Major banks and financial services providers deal with the EU for various purposes, such as facilitating foreign direct investment, managing local investors and managing transactions between EU citizens/businesses and their counterparts. In each of these cases, the personal data of EU citizens is being collected and processed by a non-EU financial services provider

Data Breach

From a GDPR perspective, personal data breaches must be notified to the relevant supervisory authority no later than 72 hours after the data controller becomes aware of the breach. The Regulation distinguishes between the services being offered by the organization, meaning, essential services such as financial service providers must report cybersecurity breaches to the relevant authority at a national level (Article 33).

Want to understand the rules of GDPR? Click here to download our GDPR white papers.

GDPR also provides guidance on how to handle data breaches. For example, an infection by ransomware could lead to a temporary loss of accessibility if the data can even be restored from a data backup. However, a network intrusion still occurred, and notification could be required if the incident is qualified as a confidentiality breach (i.e. personal data is accessed by the attacker) and this presents a risk to the rights and freedoms of individuals.

If you’re in the process of aligning your financial services firm with the GDPR, especially in terms of data collection, storage and management, contact us for support with GDPR compliance across your systems.

Canadian National Security Concern

Recently, BMO and CIBC-owned Simplii, were both hit by a hacker who threatened to release 90,000 Canadians account information. Although the cause of the attack has not yet been released, it has raised several questions regarding server security and third-party contracts. If two of the largest banks in Canada were hit, how will small to midsized businesses stay attack free?

For this reason, the Canadian Federal Government is rolling out a new cybersecurity strategy designed to better protect the country and its citizens from the growing threat of online attacks and crime. The plan, $500 million over five years, includes a range of initiatives aimed at the public as well as businesses.

“Small and medium-sized Canadian businesses are the backbone of our economy but are also the most vulnerable.” Commented Byron Holland, president and CEO of the Canadian Internet Registration Authority. “Providing these businesses with cybersecurity strategies and resources is essential to holding back the tide of cyber threats.”

We can help!

In the financial services industry, downtime can be detrimental to your reputation and businesses operations. Storagepipe’s backup and disaster recovery solutions can help. Our solutions seamlessly address your backup, recovery, compliance, security and archival requirements.

With many major financial institutions including credit unions, insurance, and financial services firms as clients, let us provide you with total peace of mind that your data is securely protected. Start your Storagepipe experience today.

Sources include:

http://business.financialpost.com/news/fp-street/cibcs-simplii-says-fraudsters-may-have-accessed-data-of-40000-client
https://www.theglobeandmail.com/canada/video-ralph-goodale-outlines-goals-of-new-cybersecurity-strategy/
https://www.theglobeandmail.com/politics/article-federal-government-rolls-out-new-cybersecurity-strategy-to-protect/?cmpid=rss
https://betakit.com/canadian-government-releases-details-of-cybersecurity-strategy/

The financial services industry is a routine target for cybercriminals, more so than any other industry. From ransomware to phishing attacks, the first half of 2018 has seen a surge in cybersecurity activity with a significant breach in two of the largest Canadian banks. Cyberattacks may be unavoidable but, in an industry as crucial as financial services, firms must constantly be improving security efforts and ensure employees are armed with the best solutions to instantly respond in the event of the breach before important information is lost.

In part one of this series, we will discuss the different types of security threats you may face.  In part two, we’ll review the compliance and regulatory issues you may face when dealing with cybersecurity. Finally, in part three, we will learn the six steps to avoid cybersecurity risks.

What Are the Most Common IT Security Threats?

  1. Ransomware – Hackers sneak into computers and restrict the access to your system and files. Then they ask for a payment in exchange for regaining access to your system.
  2. Malware Infections – This is the common name given to several security threats that infiltrate and damage your computer.
  3. Pharming – Its objective is to convince you to visit a malicious and illegitimate website by redirecting the legitimate URL.
  4. Phishing – It consists of fake emails or messages that look exactly like emails from legitimate companies. You are deluded into thinking it’s the legitimate company and you may enter your personal and financial information.
  5. Computer Worm – A worm works on its own, lives in your computer, and propagates by sending itself to other computers.
  6. Spam – Spam occurs when you receive several unsolicited emails that will phish for your information by tricking you into following links.
  7. Distributed Denial-of-Service Attack – The attack strategy is to contact a specific website or server over and over again. It increases the volume of traffic and shuts down the website/server. The malicious user usually uses a network of zombie computers.
  8. Network of Zombie Computers – The malicious user takes control of several computers and controls them remotely.

Want to learn how to stop Ransomware and Malware Infections?
Learn how in our blogs.

Let Storagepipe help: 

In the financial services industry, downtime can be detrimental to your reputation and businesses operations. Storagepipe’s backup and disaster recovery solutions can help. Our solutions seamlessly address your backup and recovery, disaster recoverycompliance, security and archival requirements.

With many major financial institutions including credit unions, insurance, and financial services firms as clients, let us provide you with total peace of mind that your data is securely protected. Start your Storagepipe experience today.