- Cannabis companies are regarded as being particularly vulnerable to cyberattacks, including potential ransomware incidents, because of their high cash-flow operations and their small business status, heightened by remote work due to Covid
- Cybersecurity services and technology provider SideChannel serves the needs of emerging businesses that may be hard-pressed to hire a full-time cybersecurity expert and need an affordable alternative
- SideChannel provides virtual chief information security officer (“vCISO”) services on a contract basis, drawing on a collective 450 years of experience
When the COVID-19 pandemic caused a wide array of industries to shut down their operations and then reopen with heightened emphasis on remote work, it created a generous opportunity for cyber criminals to exploit the increased business dependence on the Internet for core functions.
Chainalysis, a company that tracks digital transactions on the blockchain, reported ransomware payments from victims surged by 311 percent between 2019 and 2020 to reach nearly $350 million, for example. Ransomware is a cyberattack in which a target’s computer files are accessed and then locked up, preventing the victim from using their own data files unless a ransom is paid to obtain a password key that will unlock them (https://nnw.fm/d5O7N).
Recent ransomware attack targets have ranged from a small school district in Massachussetts (https://nnw.fm/whm7S) to multinational news media corporation The Guardian (https://nnw.fm/zCvT3).
Cannabis companies are considered by many to comprise a particularly vulnerable target because of their small operations and high cash flows, as well as their challenges in obtaining standard business services because of the transitional legal outlook regarding their product (https://nnw.fm/guqjG).
Cybersecurity services and technology provider SideChannel (OTCQB: SDCH) is helping to make high quality protection against cyberattacks available to small to medium-sized businesses (“SMBs”), such as in the cannabis sector, through expert assessment of client risk and consultancy with a virtual chief information security officer (“vCISO”) who provides security oversight on a contract basis that saves the client from having to employ an in-house CISO.
Such arrangements provide a more affordable cybersecurity response to SMBs that may find it desirable to avoid adding a staff position for protecting vital financial and operational information. SideChannel has extensive experience helping startups and those with industrial controls, such as cannabis companies — freeing up team members to focus on growing their operations and distribution channels (https://nnw.fm/eGyfS). SideChannel employs more than 20 C-suite-level information security officers who collectively have a combined 450 years of experience between them.
The need for cybersecurity extends well beyond SMBs, of course — SideChannel’s blog reminds readers of areas in which cybersecurity intersected with large-scale real-world concerns during just the past year (https://nnw.fm/sPTiy).
For more information, visit the company’s website at www.SideChannel.com.
NOTE TO INVESTORS: The latest news and updates relating to SDCH are available in the company’s newsroom at https://nnw.fm/SDCH
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