Debt collection agencies, like many companies, house sensitive data. Storing information assets requires protection from prospective and opportunistic attackers. Michael Meyer, Chief Risk and Chief Security Officer at MRS, understands how essential it is to secure information and defend against bad actors.
In cybersecurity, the standard philosophy for protecting data is called “defense in depth.” This philosophy, also known as the Castle Approach, is a layered defense system. Information is surrounded in varied protective defenses with the objective of ensuring safety. This approach needs to be expanded because, as Meyer says, “There is no one tool or strategy that can possibly defend against every type of attack. That’s why a passive defense in depth with multiple layers all the way down through a company is now just the first step in a company’s security plan.”
Despite extensive safety measures, attackers are relentless. Meyer says, “The attacker only has to be right once, whereas the company defending always has to be one hundred percent right. Obviously those types of odds are weighed in the attacker’s favor. The way that companies can even their odds and fight back is to change their focus. Businesses have to take a balanced approach and assume that attackers will get in and additionally focus on preventing them from getting information out.”
As technology constantly evolves, so too does cybersecurity. In order to guard against the continual barrage of attackers, Meyer stresses the necessity of regularly updating tools and frequently improving defenses at all levels. Stagnancy is the enemy of secure assets. Citing the sports adage Meyer says, “The best defense is a good offense.”
A single data breach is often fatal. MRS recognizes the significance of security in a digital world fraught with attackers and defends accordingly. Meyer says, “The best cybersecurity is preventive in nature. The most important change that companies need to make now is protecting what goes out just as much as what gets in. An ounce of prevention is worth a pound of cure.” Carrying this sentiment in mind, MRS prioritizes security and structures its array of defenses to ensure the utmost protection of all assets handled.