Why is cybersecurity important? How can I ensure my business is protected? What does cybersecurity look like in 2022 and beyond? If you find yourself asking these questions, you are not alone. According to a research study by FireEye, 51% of organizations don’t believe they are ready for or would respond well to a cyber attack or breach. This statistic combined with an estimated 15% increase (Per year) of cybercrime over the last decade, has many organizations wondering what their next steps should be. When looking at the new era of cyber attacks emerging, simple cybersecurity measures will no longer be enough to prevent these attacks. One of the most beneficial ways to help improve your organizational cybersecurity is security awareness, but it is difficult to know where to start and what will be the best for your organization. Working with an IT provider whose solution includes a cybersecurity plan, resources, and training can help to ensure your organization does not fall victim to new cyber attacks. Below we will explain 3 real-life cyber attacks and the cybersecurity measures you can take to avoid something like that happening to your organization:
Customizable Security Options Suited for Your Organization
One of the most notorious cybersecurity incidents of 2021 was the Colonial Pipeline cyber attack. On May 7, 2021, Colonial Pipeline, an American oil pipeline system, suffered a ransomware cyber attack that impacted computerized equipment managing the pipeline. In response, Colonial Pipeline Company was forced to halt all the pipeline’s operations to contain the attack. With the assistance of the FBI, Colonial Pipeline paid the requested ransom (75 bitcoin or $4.4 million) within several hours after the attack. After the chaos receded, government officials confirmed that Colonial Pipeline’s cybersecurity measures were not up to par and the attack may have been prevented if stronger protection was in place. (Bloomberg)
No two organizations have the same requirements; therefore a one-size-fits-all cybersecurity plan will not be successful. Instead, have your IT provider perform a cybersecurity assessment to evaluate your organization’s unique technology environment and the security capabilities within. This will help identify vulnerabilities that could be the target of cybercrime and cyber attacks. Once these vulnerabilities are identified, your organization will be able to create a customized plan with additional cybersecurity measures like end user security training or endpoint detection and response (EDR) software that help fill in the gaps. By creating a plan that prioritizes those areas that need remediation, your organization can better combat the weak spots and gain security awareness to prevent them in the future.
Implementing a Business Continuity Plan
Code Space was a cloud based, code hosting service that offered various project management tools to its customers. The company suffered a devastating DDoS attack in June 2014 that caused severe service disruption. The hacker was able to access the firm’s cloud databases and wipe the data backups, configurations, and delete offsite backups either wholly or partially. The attack lasted for about 12 hours. After that, it left the firm inoperable due to the very high recovery costs, thereby forcing the company to shut down. (Threatpost)
Cyber attacks have the possibility to cause a major disruption across departments and your organization. IT can severely impact day-to-day operations, both in the short and long term. The risk of cybercrime is too high to not include precautions within your cybersecurity plan. When creating a business continuity plan, you are ensuring that the proper processes are being put in place and resources are allocated so organizations can easily recover in case of an attack. Based on your organization’s industry, size and current cybersecurity initiatives, your IT provider can create a business continuity plan that will help secure your business assets in the case of a cyber attack.
Security Awareness Throughout the Entire Organization
The Daily Swig reported a phishing attack that occurred in December 2020 at US healthcare provider Elara Caring that came after an unauthorized computer intrusion targeting two employees. The attacker gained access to the employees’ email accounts, resulting in the exposure of the personal details of over 100,000 elderly patients, including names, birth dates, financial and bank information, Social Security numbers, driver’s license numbers and insurance information. The attacker maintained unauthorized access for an entire week before Elara Caring could fully contain the data breach.
Human error is one of the biggest security threats to an organization with over 95% of cybersecurity breaches being due to human error (IBM) One of the main reasons this continues to be a problem, is because employees have no cybersecurity education, resources, or training. End user training educates employees on the importance of protecting sensitive information and what malicious threats to look out for. Your IT provider should provide consistent end user training, cybersecurity resources and be available for questions and concerns around cybersecurity. With just simple education, your organization can avoid over 90% of cybercrime and take one more step in protecting your business.
With cybercrime only getting more advanced, it is key to understand the question: Why is cyber security important? Not only is it important for the protection of your organization, but also for the future of business. Having security awareness and a cybersecurity plan in place within your organization can be the difference between keeping your business afloat, or closing for good. Cybersecurity is serious and having an IT provider who understands that, will keep your business protected for decades to come.
CompuData Managed IT Services combine best-in-class IT and help desk support with cloud support, management, implementation, and security services. We are one provider for managed IT, cloud, and security so you will never outgrow our services. CompuData offers IT Security solutions that extend beyond traditional data protection. We offer a comprehensive solution and train your team to help protect you against cyber threats. We take a proactive approach that offers flexibility and scalability to strategically protect your company.