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Cybersecurity for your Business: Is it necessary?

The internet has changed the world into a global village enabling communications and transactions between people and businesses in any part of the world. There has been a steep increase in digital transformation initiatives like cloud adoption, work from home, automation et al especially after the unprecedented events of 2020. However, the downside of this is the data breaches that individuals and companies suffer as a result of cyberthreats. According to a recent study by  IBM and Ponemon Institute, the average cost of a data breach was $3.86 million. Therefore it is prudent for businesses of all sizes to have a solid cybersecurity strategy in place.

Cybersecurity in any organization is the process of safeguarding its data, systems, applications, and networks from malicious attacks. A cybersecurity strategy must encompass an array of processes that will help any enterprise prevent, proactively detect, isolate and clean possible threats. Though the strategy itself may be defined by the Chief Security Officer, all employees in any organization must be aware of its best practices, with respect to protecting critical data.

Some of the common kinds of cyber attacks are:

Malware: Softwares like the Trojan horse, adware, and ransomware can be part of email attachments or advertisements on certain websites. These can install themselves onto the organization’s system and access, modify or destroy information in it.

Phishing: The mode for this attack is usually email communication, and the attacker targets vulnerable systems to tray and gain valuable information from them.

SQL injection: The target of this kind of attack is a database. It uses SQL queries to modify or delete information in a database.

Botnets: This refers to a group of systems in a network hacked into and controlled remotely.

Some of the more prominent cybersecurity systems popular among organizations today are first-level protection like antivirus software, firewalls, and tools to encrypt data. Multi-factor authentications are also used to verify the identity of the user. Some organizations remove critical data and replace it with an algorithmically generated ‘token’ to ensure its safety. This process is called tokenization. Security Operations Center (SOC) is the ultimate strategy to provide the safety net that enterprises need.

What are some of the best practices the organizations follow to ensure that they are never under attack?

  • Keeping policies updates regularly
  • Periodically checking information about users that have access to critical data and verifying that the list contains only permitted stakeholders.
  • Updating network security controls
  • Keeping employees updated and aware of the best practices when dealing with sensitive information
  • Keeping oneself aware of the latest threats and vulnerabilities so that the organization can be prepared to detect attacks. 

In today’s digital world, creating a cybersecurity strategy is no longer optional for businesses. However, implementing the right policy based on an organization’s can be an intensive task and would require expert guidance. The cybersecurity experts at Netlabs Global can help you craft the perfect cybersecurity policy for your organization based on its requirements. Drop a line to our experts today!

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