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Public-Private Partnerships: Combat Cybercrime & Enhance Cybersecurity

     

In an effort to combat the alarming increase in cybercrime and ensure that companies, organizations, and agencies are implementing appropriate cybersecurity measures, the Department of Justice (DOJ) is taking steps to engage the private sector in the fight by establishing a public-private partnership. According to the recently appointed U.S. Attorney General Loretta Lynch, there is “a mutual and compelling interest in developing comprehensive strategies for confronting this threat, and it is imperative that our strategies evolve along with those of the hackers searching for new areas of weakness.”

 

This declaration and the DOJ’s recent actions are of incredible significance at this time given the number of data breaches that have occurred recently, seem to be happening on a regular basis these days, and continue to transpire on a scale that is growing larger and larger. To the surprise of many, even big companies with ample resources to employ stringent security measures and systems have been affected.

 

In light of these shocking occurrences, it is vital for all companies to take steps to safeguard their data, and particularly the data that their clients and customers have entrusted to them. Issues of privacy and security tend to be of paramount importance to clients, and companies must commit to proactively seeking to evade security breaches. For example, confidential and valuable information that is stored electronically must be saved in a highly secure location, such as an online repository or vault that utilizes advanced data encryption and strict access control.

 

After all, it is becoming increasingly and frighteningly easy for hackers and criminals to monetize a lot of the personal information that they manage to obtain. There are savvy computer scientists and engineers, and sometimes merely clever teenagers, who are able to access networks containing loads of personal data that they can use to take out loans, submit fraudulent health insurance claims, obtain credit cards, or make purchases before the criminal activity is even noticed.

 

Of course, in addition to recruiting the private sector to create and implement innovative cybersecurity strategies, the DOJ issued a guidance document offering advice on preventing cyber data breaches, as well as actions to take in the event that one does occur. Although this particular document is not legally binding, companies can look to it as a starting point for crafting their own cybersecurity strategies or as a way to formulate internal best practices. Obviously, different companies in dissimilar and even similar sectors will inevitably have different needs, and the accessibility to adequate resources is certainly an important factor.

 

Nevertheless, some companies may be surprised to learn that there are extremely affordable solutions that address data security available to businesses of all sizes. In most cases, it is worth the investment of time and money to research existing options and select a service that meets a company’s needs and appropriately safeguards valuable information.

 

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