Securing the future: Navigating the cybersecurity landscape
In today’s interconnected world, where data and collaboration stand at the cornerstone of business operations, cybersecurity emerges as a non-negotiable priority. The advent of new technologies, such as generative AI, further increases the opportunities for cybercriminals to develop new and more credible ways to attack organisations, exposing them to an ever-expanding array of threats.
The rate at which cybersecurity threats evolve is nothing short of alarming, presenting challenges to businesses regardless of their size and industry. Research in the United Kingdom has shown that 50 per cent of businesses have experienced some form of cybersecurity breach or cyberattack within the last 12 months, leading 31% of businesses to undertake cybersecurity risk assessments and 33% to deploy security monitoring tools to identify and mitigate threats. Although current statistics for Maltese businesses are not available, similar trends have been observed within the local business community.
From ransomware and DDoS attacks to data breaches and supply chain compromises, the repercussions of a cyberattack are detrimental across all businesses. In addition to operational disruptions due to interrupted access to critical systems and services, cyberattacks also encompass data loss or theft, user identity theft and user account takeovers, financial losses, regulatory fines, and reputational damage to businesses.
Regulated industries must also satisfy risk assessment and cybersecurity requirements arising from upcoming EU legislation and mandated by the respective regulatory bodies. These regulations include DORA for banking, financial institutions, and insurance providers, as well as NIS2 for essential entities across various public and private sectors that are vital to our economy and society. However, unregulated industries are not immune to cyberattacks and should also assess their risks and protect their interests to ensure business continuity and safeguard customer and employee data. Data protection requirements as defined by GDPR have been and will remain an overarching requirement for most businesses. Consequently, the necessity to safeguard sensitive company data and strengthen digital infrastructure has never been more critical.
A reactive approach to cybersecurity is no longer tenable. At the core of an effective cybersecurity strategy lies a proactive approach—one that anticipates, prevents, detects, and responds to emerging threats. Such a strategy requires a fully-fledged cybersecurity team within each business, whose primary function is to comprehensively understand emerging threats, vulnerabilities, and attack vectors, while also implementing tailored cybersecurity strategies to address the unique needs of the organisation.
Acknowledging the skill shortage as one of the emerging threats for 2030, GO has strategically partnered with a local cybersecurity firm, CyberSift, to provide specialised cybersecurity managed services, support, and expertise to its clients within the local business community. This alliance enables Maltese businesses to access a broad spectrum of cybersecurity services, including Security Information and Event Management, Vulnerability Assessment, AI Threat Intelligence, Penetration Testing, advanced Endpoint Protection, and Incident Response, without the need to invest in extensive in-house resources. Recognising the importance of customer trust in cybersecurity service providers, GO and CyberSift have invested heavily in their own cybersecurity capabilities. Both companies are ISO 27001 certified, demonstrating their adherence to the most recognised global security standards and their commitment to a risk-based approach for the continual improvement of related processes.
As businesses embrace digital transformation, cybersecurity will play an increasingly critical role in ensuring sustainable growth and resilience. GO is at the forefront of shaping this future, offering innovative solutions and free resources to help organisations navigate the complexities of the digital landscape.
One such initiative is a Cyber Webinar series, developed in collaboration with CyberSift, aimed at delivering invaluable insights and practical guidance on topics such as AI in cybersecurity, staff training, and benefiting from EU grant schemes. GO also offers a complimentary cybersecurity assessment tool, designed to evaluate current cybersecurity practices, and identify areas for improvement for businesses.
Through investments in innovative solutions, GO empowers businesses with the knowledge and tools necessary to navigate the dynamic cybersecurity landscape confidently and enhance their organisation’s resilience. Explore GO’s comprehensive suite of cybersecurity solutions today to safeguard your data and operations in an ever-changing threat landscape.
