Security Information and Event Management (SIEM) has become a vital part of security strategies for all growing businesses. It might be one of those things that you’re aware that you need but are not sure why. Or perhaps, you’ve never heard of it at all. Wherever you stand with your knowledge about it, you aren’t alone. This beginner’s guide will define what Security Information and Event Management (SIEM) is, outline its benefits and highlight its importance to your business.
Network security is one of the most important considerations that should be addressed when setting up a business network. Network security refers to the policies, methods, and strategies established by network administrators to protect a network from unauthorized access or attempts at compromise by cyber criminals or other malicious individuals. With businesses increasingly conducting their transactions online, the costs of a network compromise or data breach can be quite significant; in 2019, the average cost of a data breach was $3.92 million. In addition to financial losses, businesses may also face a loss of customer confidence as well as legal consequences in the aftermath of a data breach.
The rate, as well as the effects of data breaches, have increased significantly over the past several years as businesses conduct their transactions online. In addition to data loss, businesses often incur financial losses as well following a successful data breach. In 2019, the average global cost of a data breach to an organization was $3.92 million representing a 1.5% increase from the preceding year, 2018.
Cybercriminals and other malicious actors are continuously on the lookout for ways to penetrate and compromise private business networks. They devote their time and resources looking for weaknesses within the network security system that can be exploited. Once found, these weaknesses are used to bypass the network security system in place and penetrate the network, thereby enabling the cybercriminals to steal private data as well as cause other forms of havoc. As businesses increasingly conduct their activities digitally, the risk of data breaches has grown exponentially. In 2019, there was a 54 percent increase in the number of successful data breaches compared to the preceding four years.
Over the past few years, businesses have become increasingly aware of the need for cybersecurity. With more transactions being conducted online across the internet, businesses transmit and receive large volumes of data daily. These data have become a tempting target for cybercriminals who spend their time and resources devising strategies to access the data by compromising private business networks. As a business owner, one of the ways to secure your business network is by using Security-as-a-Service (SECaaS).
In 2020, with businesses increasingly becoming more technologically advanced and conducting their transactions online, the rate of cybercrime is expected to increase. With lots of personal and confidential information being stored digitally, cybercriminals will make greater attempts to access this data, using more sophisticated as well as advanced tools and strategies.
Just like a computer virus, the coronavirus disease (COVID-19) is rapidly spreading. This global Pandemic, as declared by the WHO, is impacting businesses everywhere. But, just because your office is dark, doesn’t mean your company is. You’re still focused on keeping your business going and your employees healthy.
One of the most important factors that business owners need to take into consideration in recent times is cybersecurity. With the internet now part of the daily fabric of society, people are increasingly conducting their business as well as financial transactions online and also share confidential and personal information. As a result of the increase in online activities, cybercriminals now expend a lot of time and resources looking for ways to compromise business networks and access their data.
For businesses that want to build or expand their digital infrastructure in order to boost their customer appeal, one of the major considerations that should be addressed is cybersecurity. As businesses expand their digital presence and online activities, more data is transmitted and stored digitally; customers share their private information online while businesses store and transmit their proprietary information across their networks. As a result, cybercriminals and other malicious characters have stepped up their attempts to compromise private networks and use the data for nefarious reasons.
We live our lives on-the-go. Whether we are texting, checking social media, reading emails, sharing photos or streaming music, our world is not only digitized, but it’s mobile, which means businesses and cyberthreats are too. Unfortunately, the more convenience we have, the greater the risk for threats, which puts businesses in danger, particularly mobile workforce businesses, meaning majority of their operations are handled remotely. Here are five cyberthreats that specifically affect mobile workforce and how to best protect your business without sacrificing the convenience.