The term smishing is coined from a combination of SMS (Short Messaging Service) aka text messaging, and phishing. Smishing is the fraudulent practice of sending text messages purporting to be from reputable businesses and organisations in order to trick individuals to reveal sensitive information.

The benefits of integrating cybersecurity and AI are numerous. But like many developments in technology, there exists a dark side to the development of Artificial Intelligence.

For small and medium-sized businesses in the financial sector, creating an IT team with an extensive skill set that covers everything from cybersecurity to compliance, etc. can be expensive and time-consuming. It is therefore not unusual for these businesses to outsource IT services to managed IT service providers.

In October 2022, a new and improved version of the ISO 27001 was published to address the evolving cybersecurity challenges and improve digital trust.

The consequences of having data compromised can extend beyond financials. They may cost a business its reputation and could possibly result in legal proceeding. And no organisation is immune, with large businesses such as Uber and Equifax having also suffered data breaches over the years.

Cybersecurity is expensive, but when compared to the cost of a cyber breach, it certainly pales in comparison. According to the 2022 IBM Cost of a Data Breach Report, the finance industry had the second highest cost per breach, averaging $5.97 million per breach.

As highlighted in our article on the Uber hack, cyberattacks are on the rise. Unfortunately, even when the best practices are followed, no one can guarantee complete protection. Businesses must take additional steps, particularly ensuring that important files are backed up to prevent data loss in the event of a breach.

SharePoint is a collaboration and communication platform developed by Microsoft. It can be used to build an organisation’s intranet and is the basis for effective file-based collaboration.