While most consumers enjoy the many benefits of an online service, there are still many risks and potential disadvantages if a company is not properly prepared for impending cyber attacks. Since the July 2015 cyber attack on Ashley Madison, an online dating service specifically designed for married individuals, most of the media attention has nearly disappeared. However, the lasting effects to both users and the company itself are monumental.

Cyber attacks, as orchestrated by “The Impact Team,” exposed the identities of countless users online, including reality celebrities and politicians, ruining a great deal of marriages and careers. But Ashley Madison’s users were not the only ones affected.

Cyber attacks damage company’s financial future

Cyber Attacks cause site traffic to plummet from 171 million in June to 31 million in December. Source: SimilarWeb

Reports have come to light that the online dating service has taken a tremendous hit. Since the attack in July, global web traffic for the site has dropped 82 percent. According to the International Business Times, Ashley Madison has seen a drop from 171 million users in June to only 31 million users in December. Prior to the attack, Canada and the United States had the most users, with the United States accounting for 28 percent of the entire global web traffic. Today, however, the United States accounts for only 4.6 percent of the online dating service providers global web traffic.

Losing web traffic is not the only obstacle Ashley Madison is facing, as two Canadian law firms have filled a 578 million dollar class action lawsuit against the company for not protecting their users information. Ashley Madison is just one of the reasons that companies need to utilize technologies and implement a cyber security plan as part of their cyber governance strategy to proactively prevent and predict against cyber threats.

Cyber Governance is playing an increasingly important role for organizations globally, and data privacy is top of mind for all executives. With cyber attacks dominating headlines, just like the Ashley Madison cyber attack, reputations are at risk, and companies are facing the possibility of severe fines, penalties, and lawsuits – not to mention the financial and brand damage that can occur as a result of a data breach.

The best equipped businesses are evolving their cyber security strategy and recognize that having cyber security solutions in place is simply not enough to protect your business.  A holistic and evolving roadmap – not just methodology – to manage cyber security threats from the top down is critical to not only the success of the organization, but demonstrates due diligence from the C-Suite and Board level, and instills confidence in customers and investors.

Pathlock Technologies’ robust, intuitive, and integrated Cyber Governance Solution is the program C-Suite, IT Executives, and Board Members alike utilize to fulfill their Cyber Security Governance Objectives.

IT Executives no longer have to face uncertainty or wait for manual logs and reports; which are essentially outdated as soon as you print them out.  A Cyber Security Governance Solution will further enhance your network security, and offers access to relevant, practical, and easy-to-read dashboard reports in real-time.

The role of the Executive team is to ensure that your organization takes a Proactive, Preventative, and Predictive approach towards cyber governance and enhances your IT Governance and Cyber Governance best practices.

Cyber attacks are no longer an IF but WHEN situation, consider learning more about the Pathlock Cyber Governance Solution for your business.

Reduce your Risk of Cyber Attacks. Request a Cyber Governance Demo Now.