A panel of security experts addressed a crowd in attendance at the Mortgage Banker Association’s Independent Mortgage Banker Conference on February 5, in New Orleans about how cybersecurity is only an effective tool if the people using it are educated and ready for potential challenges that they can be faced with.
The experts, tech and cybersecurity professionals, gave advice to companies about their best options on avoiding the threat of getting hacked. They suggested that businesses should use a secondary form of back-up for their systems instead of solely relying on the cloud. Another tip given by the panel was a partnership with local FBI offices to constantly educate management and employees on the protocols of handling the threats effectively.
Corey Harris, a New Orleans FBI cybersecurity special agent, addressed those in attendance about the importance of being proactive in their education on the possibility of an attack and have an action plan in place.
Alex Nunez is the cybersecurity policy advisor of UpGuard, a prominent cybersecurity company, and his advice was to take into consideration that breaches in security don’t just jeopardize data, but the reputation of the business as well. That is why monitoring for threats is important.
Because of the evolution of cybersecurity attacks, companies only have a 24 to 48-hour window of opportunity to reduce the impact a cybersecurity breach could impose on business.
The Bankers Insurance Service President Thomas Delaney spoke about how ransomware is a moral dilemma for a company. Once their client’s information is leaked it must be reported to insurance and the authorities. Keeping the clients safe is as important as stopping the attack.
This panel and conference conveniently fell on the heels of the Iowa caucus delays which only further implemented how relying on technology can be just as much a negative as it is positive, which further enforced the tone for the conference.