The Voice - Winter 2020 - 33

INDUSTRY

COVID-19: Is Your Company Prepared
for a Cybersecurity Attack?
Written by Eugenia Bashura and Harp Khukh

W

ith COVID-19, more companies than ever have
moved to remote working, and this trend will likely
continue as employers may want to provide staff
with increased work-life flexibility while embracing the costsavings associated with renting smaller office spaces. Despite
the savings, remote work heightens the risk of cyber security
attacks, which, if successful, could cost a company significant
financial and reputational loss. An employee using an unsecured
public Wi-Fi network at a coffee shop or at home are ideal
opportunities for cyber criminals to access a company's data and
use it for extortion, using a malicious software called ransomware.
With remote work, not only does the frequency of cyber attacks
increase, but also the amount of potential losses (i.e. the amount

of compensation paid out by insurers that provide cyber security
coverage for companies). Cyber security attacks have become
increasingly more sophisticated and difficult for any one solution
to counteract. Significant costs as a result of cyber security
attacks can be expected due to the business impact of diagnosing
and responding to cyber security attacks and working to get teams
back up and running afterwards. Given the drastic transition to
remote work and increasing desire of employees to work from
home either part-time or full-time, now is the right time for
engineering employers to think about the types of measures and
policies that should be put in place, not only to prevent cyber
security attacks, but also to mitigate damages when cyber security
attacks take place.

Winter 2021 THE VOICE

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The Voice - Winter 2020

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The Voice - Winter 2020 - Cover1
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The Voice - Winter 2020 - Cover3
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