Month: March 2022

Cyber security threats and attacks are becoming more prevalent by the day. Innumerable firms are victims of cyber-attacks, revealing crucial information to cybercriminals. As per Embroker, 66% of companies have experienced a cyberattack in the past year. It is imperative that you safeguard your company from breaches before they occur.

A successful cyberattack can result in significant data loss and the theft of confidential, employee, and customer data. Malware, Trojans, botnets, and distributed-denial-of-service (DDoS) assaults are among the digital weapons used by hackers to disrupt company operations. It’s not easy to get compromised systems up and running again, and data breaches cost an average around 3.86 million dollars.

Here are ten ways to enhance your company’s security to protect it from cyber security threats and attacks.

1.Backup and encrypt your data

Data encryption is still one of the most effective methods for preventing data leaks. Data backup and encryption are essential components of an efficient cybersecurity plan. This way, there’s nothing to lose if your company’s sensitive data slips into the wrong hands. Ensure that sensitive data, such as private customer information, employee information, and other sensitive corporate data, is encrypted first and then backed up.

2. Keep your software updated

Cyber-attacks frequently occur because your systems or software are outdated, exposing vulnerabilities. Cybercriminals exploit these flaws and hack into your network to gain access. Sometimes it’s too late to take preventative measures once the hackers have already entered.

To combat this, it’s a good idea to invest in a patch management system, which will keep track of all software and system updates and keep your system secure and up to date.

3. Staff should be educated about cyber security

To reduce the risk of exposing the business, all employees should be taught how to protect the information they regularly handle. Provide up-to-date cyber security training regularly. Make sure your technology is in good working order. Conduct training sessions with a professional, specialising in detecting and preventing data breaches.

4. Have a Disaster Recovery Plan

If your company is ever subjected to a cyberattack, a well-planned and successful Disaster Recovery Plan will pave the road for a quick response. If such an unfortunate situation occurs, it should have a well-defined escalation channel, prioritizing proactive communication.

5. Employ multi-factor authentication

Multi-factor authentication(MFA) is another established practice for data security. To access their accounts, users must give two or more proofs of their identities, which adds an additional degree of protection. For instance, a user must enter a password, and a code sent to another device before accessing an online account.

6. Put in place security policies

Businesses should also have clear cybersecurity policies in place to inform employees about what is and is not appropriate when it comes to exchanging data, using computers and other devices, and accessing the internet.

7. Use better anti-malware and firewall software

Anti-malware software that has been specifically created to deal with the current malware threats is crucial. While anti-malware software can detect and isolate malware and viruses once they’ve entered your system, it’s even more critical to prevent these dangers from entering in the first place, which is where a firewall comes in.

8. Conduct audits on a regular basis

Although you can’t completely eliminate the risk of cyber attacks, you can take steps to monitor and assess the cyber security frequently you do have. This ensures that the system you have in place works, finds any flaws, and strengthens your security without causing severe business disruption.

9. Consider purchasing cyber insurance

Make sure your company is covered against cyber threats by purchasing cyber insurance. Costs related to data breaches and extortion are generally covered by cyber insurance. The correct insurance plan will also give you access to competent personnel who will oversee the event from beginning to end.

According to the latest projections, the worldwide cyber insurance industry will develop rapidly over the next five years. The entire market size will rise from roughly 8 billion dollars in 2020 to slightly over 20 billion dollars in 2025.

10. Enhance physical security

Don’t overlook the need of securing your physical environment as you work on securing your digital business environment. By being on-site and gaining physical access into buildings or data centres, attackers often gain access to login passwords, classified information, network plans, and other important and vulnerable information.

Learn more at Cyber Security Summit

Event Organised by Exito Media Concepts

The face of workplaces has changed significantly since the start of the COVID-19 outbreak. According to a Microsoft study, 73% of workers want to keep the flexible work arrangements created in response to COVID-19. This has seen a rise in the need for organizations to adapt to remote or hybrid working systems. However, after this shift in the working space of employees, cybersecurity risks have increased by more than 25%.

On the other hand, data breach expenses have climbed dramatically YoY, from $3.86 million in 2020 to $4.24 million in 2021, according to IBM’s report. The average cost of a data breach was more significant in organizations with more than 60% of employees working remotely than the general average cost.

Managing security across remote or hybrid work environments is one of the most challenging for enterprise IT teams. This post will cover some of the most frequent cyber security challenges, and risks that businesses encounter when implementing cybersecurity solutions for remote and hybrid work.

Security risks in the cloud

Cloud-based applications are similar to other apps in that they are designed to make work more manageable, and most of the organization’s work runs on these cloud-based applications. Even though there are numerous advantages of cloud-based applications, these applications add even another degree of complexity to data management. They also expose organizations to new cybersecurity threats, posing a new set of administrative issues for IT departments.

Employees’ lack of security awareness training

Most companies ignore security awareness training for work-at-home employees, which poses a significant danger to an organization’s cyber security. According to IBM, the number of insider events involving credential theft has increased in frequency and cost since 2016, which could be prevented with proper training.

Data loss and data leakage risks

When remote workers use a wide range of devices and network gateways, store data in multiple locations, and access different versions of programs they need to complete their tasks, they increase the risk of data loss or harm.

As a result, IT teams must adopt policies that restrict accounts based on granular access for individuals, group permissions, locations, and devices, among other things, to minimize or reduce the risk of malicious activity and data loss.

Lack of physical security and monitoring of virtual workspaces

Hybrid workspaces are difficult to monitor because of the lack of physical security measures. This means that, while dispersed teams’ capacity to communicate securely is one of the most critical variables in assuring efficiency, it’s also one of the key factors that might put enterprises at risk.

Remote workers can be easier targets

Some of the concerns that security professionals regularly confront with remote workers include network security challenges such as weak or no home Wi-Fi security, computers shared among family members, missing firewalls, un-secure mobile devices, poor security hygiene, etc. Remote workers may also lack internet access or speed, delaying software updating and potentially leaving vulnerable places for fraudsters to exploit. Unauthorized software and shadow IT can potentially jeopardize a company’s entire cybersecurity posture.

Conclusion

In this cyber-attack-prone world, empowering remote workers to be safer with the right training is critical. According to a Tessian’s poll of 250, IT decision-makers and 2,000 working professionals, nearly 60% of IT leaders expect to increase cybersecurity awareness training if their organization transitions to a permanent hybrid work environment.

Along with enhancing an organization’s cybersecurity with advanced security models such as zero trust security, initiatives like these are necessary for organizations to combat cybersecurity issues in the age of remote and hybrid working.

Learn more at Cyber Security Summit