Enterprises find it difficult to assess the extent to which their digital business functions are vulnerable from cyber risks and the ways to protect them. It’s the reason they are constantly focusing on the implications of cybercrimes and how it will impact their bottom line.
Cyber security is the act of preventing systems and data against cyber-attacks. As business houses are planning different processes to avoid manipulation, damage and theft from malicious sources security can also be achieved by hardening the rules for using applications and people against any possible threats.
According to a report by Infoholic Research Commercial Cyber Security market is expected to touch an aggregate of $167.70 billion by 2022.
Following are 10 vital points that enterprises need to take to increase security levels:
1. Constant assessment and updating of security system:
Cyber attackers are routinely looking to use vulnerable system to victimize the organizations. Enterprises regularly assess and update their software’s to avoid any attacks, as some of these attacks are of high-severity enabled by remote attackers. Standard protocols are designed to install software patches regularly and monitor any suspicious activity and remove devices that are exhibiting unusual behavior.
2. Install security patches and java applets:
Cyber attackers on java applications has decreased over the years driven by important changes in the web browsers as they constantly evaluate and execute Java applets. Security teams are prioritizing security efforts now on higher priority bases by regularly installing security patches to continue guarding against potential future attacks.
3. Preparing for crisis and in event of breach:
Enterprises are putting massive effort to enhancing their knowledge about threat landscape and are working on devising advanced security strategy and create a multi-factor authentication, machine learning and analytics platform which can defend against any type of cyberattacks.
4. Monitoring regional malware infection rates:
Malware are highly impacted in certain parts of the world. Enterprises are constantly studying the highly impacted and least infected parts of the world which will help to discover the technical, economic, social and political factors influencing the regional malware infection rates. The information will help to design future public policy to reduce malware infection rates in different parts of the world.
5. Majority of vulnerabilities are in applications:
Cyber security teams must spend more time on monitoring and patching application based vulnerabilities. They will be missing the bulk of vulnerabilities in case they ignore them. There is a constant need to increase protection on these networks and identify unsanctioned apps used through cloud to enforce corporate policies.
6. Generation new technology and skill sets:
Enterprises are shifting their security trends and are embracing new skill sets like data science, physical security automation and identity management to monitor and prevent cyber-attacks from multiple sources. There is a need to identify current skills and focus on creating capabilities to fulfill the varied requirements.
Steps enterprises need to take in the future to increase security levels:
7. Cyber regulations and enforcement:
Agencies are struggling to keep up with the hackers, thus maintaining their security requirements and compliance is becoming increasingly challenging for organizations. Regulatory bodies are regularly enforcing new foreign cyber laws in sectors like small-and-medium-sized businesses and are creating strict regulations to controls and prevent ransomware attacks.
8. Cyber framework for SME’s:
Incidents of breach are trickling down mid-sized and smaller companies which are the softer targets. This effect will make smaller organizations to give more attention to their network security practices and continuously monitor cyber risks. Some of the strict cyber controls and testing once employed by large companies only, will begin to work their way into SME’s.
9. Smarter cyber protection for smarter malware:
Cyber attackers are constantly monitoring new app designs and are improving their ability to bypass firewalls. Enterprises are planning to create special cyber security protection team which can discover and track these malwares to avoid more files being infected or stolen.
10. Strong vendor security:
Companies need to implement strong vendor security to ensure that all the partners and outside providers have adequate updated cyber security controls in place which will detect, prevent and report possible malware attacks.
Cyber criminals are continually exploring new practices and are planning their own mergers. They are becoming more capable to carry out more sophisticated and specialized attacks.
Thus, there is a need for organizations to implement more robust and stronger security controls, making the system attentive and agile in their actions. Organizations including SME’s must implement stronger controls like employee training, testing intrusion methods, formalize reporting procedures and security-requirements. There is also a need for well-tailored cyber insurance policies.