Every facet of our existence has some sort of virtual counterpart. Currently, most of our clothing and food shopping is done via mobile applications and web-based retailers, respectively. It is now nearly impossible to hold down a job or operate a business without leaving some sort of digital trace, whether it is through online banking and banking apps for our money, E-learning for our education, or, more recently, remote working thanks to COVID-19.
However, this is nothing new for businesses that have established themselves in the digital era. Every employee, supervisor, and even stakeholder leaves some sort of digital trail whenever a business operates. It’s excellent that clouds are being used to handle and store the data that organizations require to run, as this allows for easier, more constant access by internal staff.
While the internet deserves appreciation for simplifying our personal and professional lives, we must also acknowledge the rise of problems like cybercrime. The years 2020 and 2021 saw some of the most infamous malware and ransomware attacks in history, affecting big companies including SolarWinds and Colonial Pipeline. A $44.4 million ransom payment was approved after a ransomware attack shut down Colonial Pipeline’s pipelines. According to reports, the criminal hacking collective Dark Side in Eastern Europe was responsible for inciting this attack after gaining access to Colonial Pipeline’s networks via hacked VPN credentials. Malicious code was inserted into a distribution of SolarWinds’ software, allowing the hack to be completed.
Attacks on supply chains like the one recently suffered by Toyota are just one example of the cybercrime that has made ripples in 2022. After a major ransomware attack on a Japanese supplier, the automaker halted production until the situation was resolved.
Cybercrime is on the rise around the world, with estimates placing the global cost at $6 trillion in 2021 and the amount in the United States alone at more than $6 billion. According to Cyber Security Ventures, cybercrime will cost the global economy $10.5 trillion per year by 2025.
However, just because this figure is projected to keep rising doesn’t mean that businesses have no choice but to sit tight and wait for their turn. The “upside” is that cybersecurity methods exist to counteract all of these problems, and now more than ever, people and businesses need to take these seriously if they wish to avoid and minimize the effects of cybercrime. In other words, businesses should be encouraged to increase their security in light of the aforementioned instances. The question then becomes how. And if you have any questions, we’ll be happy to help you find the solution.
Knowing the Different Types of Cyber Threats
The variety of cyber risks is vast, and it is only increasing. Thousands of new, unique attacks are created every day. Among the best in their respective fields are:
- Ransomware Malware
- Denial of Service (DoS) and Distributed Denial of Service (DDoS)
- Information Security Breaches
- MITM (Man-in-the-middle)
- Influencing the Public at Large
What Can Be Done to Strengthen Our Cyber Defences?
The best defence is a good offense, and we always emphasize that. Virtual private networks (VPNs) and two-factor authentication (2FA) are two examples of practical actions that may be taken, but securing a whole business takes thorough assessments and, often, expert help.
The following are some steps to follow while you improve your plan.
Raising awareness inside the company
According to the World Economic Forum’s Global Risks Report, 95 percent of cyber breaches occur due to human error. While cyberattacks are directed at computers and networks, stopping them requires addressing both the external vulnerability that allows for such assaults and the internal access that enables them. Organizations can alleviate some of their stress by raising employee awareness of phishing and by implementing policies to secure and monitor internal user routes.
Find any holes in the security system by testing it.
Organizations can learn more about the state of their security and where improvements are needed by conducting regular security health checks. It is possible to strengthen weak spots by first identifying them inside the organization.
Always have mechanisms in place to identify potential dangers.
You can’t fix a problem you aren’t even aware of. As such, the first and arguably most crucial stage is detection. Organizations can find previously unnoticed channels of entry for attackers by monitoring not only the conventional North-South traffic but also the East-West traffic for signs of present and potential security concerns, both hidden and visible. That is precisely what the NDR platform accomplishes. It integrates network and endpoint Further, it offers real-time threat detection and response capabilities, including for dangers that may already be present in your network unnoticed.
Make sure your business is safe and prepared for any eventuality.
We believe that solutions need to go beyond firewalls and anti-virus software to counter the sophisticated cyber threats of today. The NGFW integrates the capabilities of the NGWAF (Next Generation Web Application Firewall) and the NGFW. A multifunctional cyber security solution combines intrusion prevention features, reporting features, risk detection capabilities, and cyber threat protection mechanisms. Engine Zero and Next-Generation Firewall (NGFW) are two features that can help you tackle malware. Upon detection, we immediately implement a plan to eliminate the threat by eliminating all potential carriers.
Prepare for a fallback position.
Recovery is crucial to ensuring business continuity. Businesses may recover from cyberattacks with greater ease if they have a comprehensive disaster management plan in place. Dependence on platforms like HCI safeguards data and serves as a backup in the event of a cyber-attack. While precautions can be taken to prevent security breaches, it is just as critical to have a solid foundation and solid support in place in case any of the potential threats manage to get through.
The proper service provider will protect an organization’s assets and data from every possible risk, but no single solution can defend against every possible cyber threat. Here at Managex, we think that “the solution to the problem of network solutions is the convergence of security services.” So, we offer answers at every stage of improving an organization’s cyber defences.