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Last month dealer management systems (DMS) group CDK Global was hit in the US by a cyber-attack which results in it closing down its cloud based software for US dealers.
Here Andy Thompson, Offensive Cybersecurity Research Evangelist at CyberArk offers dealer CEOs practical advice to ensure they keep safe and prevent themselves from falling victim to cyber crime in the future
“To ensure dealer groups remain safe and resilient against cybercrime, it is crucial to adopt a comprehensive approach to identity security.
“This applies universally across industries but is particularly pertinent for dealer groups due to their complex ecosystems of human, machine, and AI interactions. Here are some key strategies:
- Establish multiple layers of cybersecurity controls. Protect all identities—human, machine, and AI—with robust authentication measures, such as multi-factor authentication (MFA), to add an extra layer of security.
- Regular training and awareness programs for all employees are essential. Ensure that your team is well-versed in recognizing phishing attempts, social engineering tactics, and other common cyber threats.
- Thoroughly assess the cybersecurity practices of your third-party vendors and supply chain partners. Ensure they adhere to stringent security standards and have contingency plans in place to mitigate any potential risks to your operations.
- Regular Audits and Updates: Conduct regular security audits and keep all systems and software up to date with the latest patches. This helps to close any vulnerabilities that could be exploited by cybercriminals.
- Develop Incident Response Plans: Prepare for potential cyber incidents by developing and regularly testing incident response plans. These plans should outline clear procedures for detecting, responding to, and recovering from cyber-attacks.
“By focusing on these areas, CEOs of dealer groups can create a robust cybersecurity posture that minimizes the risk of falling victim to cybercrime. This multi-faceted approach ensures comprehensive protection and prepares organizations to respond effectively to any threats that may arise.”
Andy Thompson, is offensive cybersecurity research evangelist at CyberArk