Information security is becoming a competitive advantage in many industries, with companies that can be trusted with financial data and personal information becoming better able to attract and retain customers and partners. Security as a service allows resource-constrained organizations to keep a level playing field with larger enterprises. Instead of a large upfront fixed cost for software such as SIEM, personnel hiring and professional integration services, security as a service spreads those costs over the subscription period. This model can provide more flexibility when budgeting IT expenditures. The scarcity of trained security professionals makes hiring trained staff in-house difficult. With security as a service, you can often receive around-the-clock security coverage for less than the cost of staffing one shift in-house.
Keeping the scale in your favor during an average production day always proves to be difficult. The list of vulnerabilities has grown unmanageable. In many cases, there are lengthy reports to review, spreadsheets to update, and worse, PDFs to comb through. Meanwhile, threat actors continue to develop zero-day vulnerabilities along with weaponizing known vulnerabilities; some of which go as far back as 2006.
When planning out a budget for the new year, finding a place for cybersecurity can be difficult. You want to put that money toward new ventures, but you also know that a major breach can forever damage your reputation.
To help those waffling between how much to put into digital defenses, let's review some of the biggest reasons having a plan is worth the time and money.
Are you worrying about an IT breach more than your company's sales numbers? In some sense, that's a good thing (IT security should be at the top of your list). But on the flip side, it shouldn't be keeping your organization's C-Suite executives up at night.
If IT security problems are becoming a headache, you probably need to do more to protect your company from cyber attacks.
Here are two effective methods to help you reduce your uncertainty about cyber threats.
As a business owner, you need to take IT security seriously. Not doing so threatens your company's bottom line due to lost customers and revenue - and possibly top officials if they lose their jobs, which can destabilize departments.
As proof IT security can cost your company a bundle of money, let's first examine data regarding how customers feel about and act towards companies that have been breached.
Smaller financial instiutions, such as credit unions, need to keep their systems well-protected from cybercriminals, whether they're insiders or those operating from outside of the organizations. To do so, credit unions must first understand just how important IT security is. They must also come to terms with how their IT security capabilities are likely more limited than larger firms with more spending capital. When they accomplish both, they can take the appropriate measures to protect themselves.
A data security plan is an organization's framework for employing security tools to make sure digital information is accurate, reliable, and available when those with authorized access need it—and not those without authorized access, such as malicious hackers. There are a few basic steps involved in assembling a quality data security plan:
Companies stand to lose a lot if they are hacked. They risk lawsuits, loss of brand equity, theft of intellectual property, and more. Among other dangers, there are three especially common cybersecurity threats that may bring this nightmare to life for any organization and can haunt those charged with protecting the company if they don't have the resources to do so. Those threats are ransomware, insiders, and vulnerability hacks—and here's what IT teams can take to defend against them.
Telecommuting has never been more common, and as it increases in prevalence, cybersecurity risks will follow. This has been most recently illustrated by the complications plaguing TeamViewer, a popular proprietary piece of software for establishing remote access between computers.
In a recent article on Credit Union Journal, I wrote about how to go beyond risk management to assess vulnerabilities in order to secure your data. It’s important to understand that vulnerability and risk are not the same thing. Risk is the probability of the vulnerability being exploited multiplied by the cost of damage it will cause. This is required for risk evaluation and will help you focus your remediation efforts as well as define compliance boundaries. Vulnerability management is the cyclical practice of identifying, classifying, remediating, and mitigating vulnerabilities especially in software and firmware. It works by analyzing computer systems for known vulnerabilities such as open ports, insecure software configuration, susceptibility to malware, etc.