- SideChannel is committed to creating robust and top-tier cybersecurity programs for small and mid-market businesses (“SMBs”), thus helping them protect vital information and customers
- One of the companies SideChannel has helped achieve this goal is Virgin Voyages, which has expanded its engagement with SideChannel to improve its data privacy efforts with the addition of a virtual chief privacy officer (“vCPO”) from SideChannel
- The move builds on an earlier engagement, bolstering Virgin Voyages’ goal to protect the important information relating to its crew, sailors, and partners
A recent study by IBM Corp. (NYSE: IBM) revealed that the average cost of a data breach in the hospitality industry was $2.94 million in 2022, down from $3.03 million in 2021. This cost, the study highlights, encompasses detection and escalation costs (covering forensic and investigative activities, assessment and audit services, crisis management, and communications to executives and the board), lost business costs (including business disruption and revenue losses from system downtime, cost of lost customers and acquiring new clients, and reputation losses), notification costs, and post-breach response costs (https://ibn.fm/gsq06).
And although the average cost of data breaches within the hospitality industry is lower than in other industries, such as healthcare, financial, pharmaceuticals, technology, energy, retail, and so on, and is, thus, lower than the global average of $4.35 million, based on the findings of the study, the attack vectors that result in the unauthorized access to data remain an ever-present threat.
Unfortunately, according to SideChannel (OTCQB: SDCH) CEO Brian Haugli, “Some companies do not think of cybersecurity and privacy until an event forces them to.” But at that time, it is usually already too late. Preemptive protection is, therefore, recommended, and one company, Virgin Voyages, is doing just that.
A travel brand that delivers epic vacations at sea, Virgin Voyages is focused on proactively protecting its sailors and crew, boosting the cruise and vacation experience, as well as making the workplace safer. The brand, whose Lady ships sail on intercontinental cruises in the Americas and continentally in Europe’s Mediterranean waters, has truly international operations. The international nature of its business, however, creates an environment that is difficult to secure and protect.
In understanding these challenges and the need to protect the data and information of its crew, sailors, and partners, Virgin Voyages recently expanded an earlier engagement with SideChannel to enhance data privacy and protection from ship to shore. As part of the expanded agreement, Virgin Voyages has subscribed to SideChannel’s virtual chief privacy officer (“vCPO”) services, complementing the virtual chief information security officer (“vCISO”) services to which it had earlier subscribed. The vCPO will supplement and augment Virgin Voyages’ current efforts and team (https://ibn.fm/iPvO1).
“I feel very proud that our team’s work earned the trust of the Virgin Voyages crew and persuaded them to work even more closely with us,” said Haugli of the expanded engagement. “Virgin Voyages is propelled to preemptively protect their customers, staff, and all their data. We think that’s something worth celebrating.”
By providing vCPO and vCISO services, SideChannel aims to empower Virgin Voyages to achieve its stated environmental, social, and governance (“ESG”) goal of creating an “Epic Sea Change for All ” by, among others, providing a caring, safe, and secure workplace for its crewmembers (https://ibn.fm/F57LA).
Focused on making cybersecurity simple and accessible for small and mid-market businesses (“SMBs”), SideChannel helps its clients build robust cybersecurity and privacy programs led by expert and experienced vCISOs and vCPOs, who have previously worked as enterprise-level CISOs and CPOs. This way, the company enables client organizations to take control of their security, reduce risk, and ensure cybersecurity and privacy compliance.
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://ibn.fm/SDCH
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