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.
While many organizations don’t have to think twice about protecting on-premise data, several don’t realize that they still need to protect their Cloud data, like data from Microsoft Office 365. Instead of running Microsoft applications themselves, businesses are consuming it as a service. Hosted in the Cloud, businesses can get the most up-to-date versions of the Microsoft Office Suite, OneDrive, and mobile apps. This allows users to access and edit documents anywhere, at any time, on any device. Office 365 is an example of Software as a Service (SaaS), but many SaaS applications have no data protection capabilities.
We have seen a massive upheaval of the business landscape over the past few months as a result of SARS-CoV-2, commonly known as COVID-19 or coronavirus. The breadth and scale of this upheaval are unprecedented, cutting across all economic sectors, and impacting businesses globally. Businesses have had to make rapid and unplanned adjustments to deal with the threat of COVID-19. One of the accommodations business owners have made in response to this threat is to transition from an in-office to a remote workforce.
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).
While the world and companies everywhere focus on the coronavirus disease (COVID-19) and are forming pandemic plans to keep business going and employees safe, cybercriminals are also following the crisis closely, looking to spread infections in different ways. In fact, according to the LA Times, a health agency in the U.S. has already suffered a cyberattack amid the COVID-19 outbreak. Why? In short, cybercriminals love a crisis. Companies are more vulnerable than usual and their focus shifts to other priorities other than cybersecurity practices.
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.
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.
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.
We live in a fast-paced technical world, where businesses and consumers want things now and where cyberattacks can happen in a matter of seconds. Additionally, corporations operate on multiple devices and platforms, giving cybercriminals plenty of options. To identify and protect a business form possible vulnerabilities, Intrusion Detection and Prevention (IDS/IPS) was created. It’s a managed security solution under Security as a Service (SECaaS) that is literally what it sounds like. IDS & IPS detect and prevent intrusions in company networks so businesses can function normally without compromise. Below, we take a closer look into Intrusion Detection and Prevention, how it works and its benefits to ultimately help you determine if this solution should be your next cybersecurity investment.