Cybersecurity needs a holistic organisational strategy. From the top down to the bottom up, a concentrated effort must be made to develop, implement, and follow through on a plan to address cyber-risk management from all levels of the company.
There has been a 300% surge in reported cybercrime since the pandemic's beginning. 52% of legal and regulatory leaders were concerned about third-party cybersecurity risk during the pandemic in early April 2020. At least 20% of managers reported a security breach due to a remote worker. The average overall data breach cost has climbed by about $137,000 because of remote work.
To deal with the projected rise in cybercrime, the worldwide information security market is expected to increase to $170.4 billion in 2022. There is expected to be a rise in the number of cyber security services and risk management services to help ensure that the critical mistakes made by organisations regarding cyber security are reduced.
Cybersecurity refers to the practice of preventing digital attacks on computer systems, data, networks, and applications. Cyberattacks are typically used to gain access to, alter, or delete information or extort money from users. Cybersecurity uses several technologies, methodologies, and processes to provide many layers of security across all of a company's computers, applications, and networks. The business, workers, procedures, and technology must all work together to form a united defence against potential cyberattacks. Managed security service providers that utilize the right cybersecurity solutions effectively will be able to examine, identify, and remedy potential system vulnerabilities and weaknesses before a hacker or lousy software may exploit them.
The cybersecurity practice can be broken down into several different elements including:
Thinking, "It won't happen to us"
Don't assume that you're immune to cyber-attacks. Any firm can be targeted by cybercriminals that use powerful, advanced attacks. Planning for an assault is among the safest precautions you can take. You'll start to see weaknesses and vulnerabilities in your system. Never think that it won't ever happen to you, as there is no certainty about it. Have a plan in case an attack arises and choose a trustworthy data backup management and cyber security services provider before any difficulties occur so you can secure your technology and ensure information security.
Not training the staff
According to numerous studies, insider threats are on the rise. Most data breaches at businesses are still caused by human mistakes, which usually means that an employee accidentally released essential data during an attack. Companies make a huge mistake by focusing entirely on external threats and ignoring the possibility of insiders causing a breach. With hacking attacks being more widespread than ever before, firms cannot afford to leave their staff in the dark when it is about spreading awareness.
Make sure your company's cybersecurity awareness training keeps your employees up to date on new risks and trends. Employees will be more likely to remember critical information if training sessions are short, frequent, and entertaining.
Going the DIY route
It isn't enough to acquire the costly security solutions, if you can't put forth a cybersecurity plan on your own with entirely safe outcomes. To completely safeguard your data, it's a good idea to engage IT and a cyber security services provider who comes with access to specialised knowledge, resources and the ability to assist you to come up with a thorough security strategy plan.
Not keeping up with the latest cyber threats
In the area of cybersecurity, not remaining up to date can mean a variety of things, from failing to update software to being unaware of current risks and trends. Whatever is out of date, all of these things can place a company in danger of a cyberattack.
It is impossible for a corporation to prevent every cyberattack. Still, threats can be minimised or resolved as fast as possible if they keep up to date with ongoing attacks and employ ways to prevent them. Patching operating systems and updating all software should be a top priority for an organisation's security staff. This "network hygiene" ensures that the systems used by employees and consumers are secure and data is protected to the maximum extent possible.
Out-of-date cybersecurity measures
Security businesses are unable to keep up with the evolution of adversaries' tradecraft. The fact that attackers are increasingly using malware-free entry techniques exacerbates the problem. You can't rely solely on perimeter security to keep the organisation safe. Thus, it is best to employ managed security service providers and utilise their updated cyber security services.
Absence of a disaster recovery plan
Disaster preparedness is an essential aspect of ensuring the robustness of your operations, regardless of the size of your company. A cyberattack can occur at any time, on any day, with no prior notice. Businesses typically do not value the risk of a cyberattack to the operation's continuity in mission-critical systems. Malware, ransomware, and other targeted and untargeted attacks can bring your IT systems to a halt. Unsolicited email is frequently the starting point for these assaults, which leads to a business email compromise. The malware then spreads throughout your network, effectively shutting down computers.
Because mission-critical machines cannot be brought offline, they are frequently left unpatched. This significantly increases the danger to the organisation in terms of security. In addition to patching, data backups and secure storage are commonly neglected. Any organisation with mission-critical computers must ensure that its systems are patched and backed up with data. These basic procedures will significantly improve the organisation's survivability in the event of a cyberattack or a natural disaster.
Also read: Cloud-First World: It’s time to solve the cybersecurity skills gap
A lot of organisations are currently shutting down after severe cyber attacks. However, we will help reaffirm the importance of avoiding critical cybersecurity mistakes and how to avoid them. We at Tata Communications recognize the importance of cybersecurity. Our team collaborates to create a culture of cybersecurity knowledge and commitment of the highest standards. We are committed to ensuring the highest level of security and compliance for the users across all industries that our clients service.