Assess Your Vulnerabilities to Develop Effective Cybersecurity
Companies are increasingly fighting off cyberattacks that result in costly damage. Learn how to assess your cybersecurity and identify solutions that protect you.
Malicious software embedded on your servers, which results in the theft of sensitive intellectual property.
A ransomware attack that derails your website until you pay hackers in Bitcoin, all prompted by an employee who clicks on what looks like a safe attachment from a colleague.
These types of attacks are increasingly common, affecting businesses of all sizes and types. It’s the reason why your company needs a comprehensive approach to cybersecurity that keeps users, data, systems, websites and servers protected.
How big of an issue is cybersecurity and what can companies do to prepare their defenses?
What Are the Major Cybersecurity Statistics in 2020?
The impact of cybercrime is significant. According to the Accenture Cost of Cybercrime Study, companies are facing more … and more expensive … attacks. Among the findings of Accenture’s study of 355 companies:
- The average number of security breaches in a year grew from 130 to 145
- The average cost of cybercrime skyrocketed, from $1.4 million to $13 million. The average price is highest in these five industries:
- Banking ($18.4 million)
- Utilities ($17.8 million)
- Software ($16 million)
- Automotive ($15.8 million)
- Insurance ($15.8 million)
- The number of security breaches has increased 45 percent in the past five years
- Data theft is no longer the only goal. Cybercriminals are destroying data or changing it, leading companies to focus on data integrity more intently
- Nation-states are increasingly behind cyberattacks
- Attackers are targeting third- and fourth-party supply chain partners to disrupt primary targets
How Can Our Business Prepare for Better Cybersecurity?
Preparing for a cyber-attack begins with a comprehensive assessment of the risks that could potentially cause damage. A cybersecurity assessment examines your entire IT stack, looking for potential vulnerabilities.
A thorough assessment includes the following:
- An audit of existing network components, including hardware, software, routers, servers, and other network elements
- Mapping of your network
- Scanning of network ports and services
- Risk modeling, to identify the most significant potential dangers to your business
- Analysis of existing network security solutions
- Penetration testing
- Actionable reporting with recommended changes and upgrades
What Cybersecurity Policies Does My Business Need?
Your business needs the structure and reference points that a comprehensive suite of cybersecurity policies designed to protect the company and employees. Among the strategies your company should develop are:
Creating these policies and educating employees on their importance and application are critical parts of an active cybersecurity posture.
- Acceptable Use Policy. This standard policy is usually signed by employees during orientation and provides the strategies and constraints that must be followed to access a corporate network
- Access Control Policy. This policy spells out what data and information systems employees can access; it often includes standards for user access and passwords
- Change Management Policy. This policy documents how changes are made to IT, software development or security services
- Information Security Policy. These high-level policies govern how employees use information security assets
- Incident Response Policy. A core part of business continuity and disaster recovery planning, this policy provides a detailed approach to identifying, managing and responding to a security incident; it may detail roles and responsibilities for staff and vendors
- Remote Access Policy. These guidelines outline the acceptable methods for remote connecting to internal networks, including bring-your-own-device policies
- Email and Communication Policy. This policy covers the use of company email systems and may include blogs, social media and chat tools
What Cybersecurity Solutions Can My Company Deploy?
Your company should consider a comprehensive blanket of protections to keep your technology protected, including:
- Anti-virus, anti-malware and anti-phishing software that is automatically updated on network devices
- Employee education and awareness, including spoofed attacks and remedial training where necessary
- Network perimeter monitoring and threat detection
- Endpoint encryption
- Data backup policies
While the scope and type of cybersecurity solutions may vary, your company should have your existing solutions assessed and review new potential solutions with your IT services provider.
How Can Our Company Maintain Cybersecurity?
New threats and approaches appear daily. That’s why your company needs to invest in an IT managed services provider (MSP) like Corptek Solutions. By partnering with an MSP, your company will be protected by ongoing monitoring, assessment, and analysis to ensure that your cybersecurity solution is optimized. Want to learn more? Contact Corptek today.