The website of the Guyana Cricket Board has been under attack by hackers for over a month now. The hackers defaced the site and demanded a ransom of US$1,000 in Bitcoin. The message left on the site warned the board about major security flaws that led to the breach.
This incident highlights the pressing need for cybersecurity measures in today’s digital world. It’s ironic that the hackers themselves are preaching about the importance of security after breaking into the website.
Recent breaches, such as the TSTT data breach affecting hundreds of thousands of individuals, have sparked concerns about cybersecurity. The Blue Waters breach in 2023 exposed the vulnerabilities of company data being leaked onto the dark web, creating potential risks for businesses.
To address these concerns, the Government of Trinidad and Tobago has introduced a tax allowance of $500,000 for cybersecurity investments. This incentive is aimed at strengthening the country’s digital defenses and encouraging businesses to prioritize cybersecurity.
At a recent webinar, Charles Bobb-Semple from iGovTT explained the eligibility criteria for the tax allowance. Companies must be fully compliant with local business regulations and ensure that cybersecurity investments meet international standards.
Nicole Greene from iGovTT emphasized the importance of businesses planning for cybersecurity threats in advance. Despite the availability of the tax break, there seems to be a lack of urgency among businesses to take advantage of this opportunity.
Shiva Parasram, a cybersecurity expert, highlighted the growing complacency towards cybersecurity threats. Many businesses are not proactive in securing their digital assets, possibly due to a lack of awareness or understanding of the risks involved.
It’s crucial for businesses to prioritize cybersecurity and take advantage of government incentives to enhance their digital defenses. With cyber threats on the rise globally, investing in cybersecurity is not just a choice but a necessity for safeguarding business operations and data.
