5 Best Practices for Businesses to Fight Cybercriminals

Cybersecurity is one of the most important assets and a significant competitive advantage for companies across industries. The recent history of data breaches has embraced the opportunities in the IT security industry. As cybersecurity companies have the data capacity to understand the threats across industries and countries, they are the most knowledgeable ones to recommend the best practices. One of the recent reports on cybersecurity developed by vulnerability detection systems provider Tenable Network Security has provided insights on the ways IT security companies can detect and fight the network security risks.

Misbalanced cost-benefit for an attacker

It may seem basic, but unless cybercriminals take significant risks for their actions, there will be little to no barriers for them to perform an attack. Raising the cost for a hacker may cut off the ones not seeing a significant benefit in comparison to potential losses. It will leave only those performing attacks for reasons different than personal benefit.

Raising the cost for an attacker is something mostly the regulatory side should be focusing on. Cybercrime potentially resulting in irrevocable losses (freedom, financial and property loss, etc.) may make hackers think twice.

In parallel with raising the costs for a hacker, companies can ensure to lower the benefit from the attack. When the payoff isn’t worth the effort, there will be almost no point undergoing a significant risk.

Board-level involvement

The lack of investments in cybersecurity usually comes from the head of the organization – the board of directors. Various reports suggest that the parts or organizations overseeing resource allocation and business development strategies usually don’t pay enough attention to the security matters as efficiency, growth and profit-generation is are seen as the primary goals of operations. Hence, business people usually don’t pay much attention to security systems.

It is extremely important that cybersecurity is seen as one of the priorities along with profit-generation. In the long term, cybersecurity will transform from an expense to a competitive advantage.

On the other hand, security experts need to develop a framework for efficient status and progress communication with business people to make sure there is a mutual understanding of the priorities.

Continuous passive scanning

When business development does its job, the corporate networks are constantly growing and service providers may be changing. The only thing that is constant is an extremely intelligent community of hackers looking for weak links and the right moment. Traditionally, businesses rely on periodic vulnerability assessments, which benefit criminals as they are aware of the right time when the defense systems are sleeping. Real-time continuous assessment is one of the key practices that can enable companies to respond to a threat in a timely manner to reduce the possible damage. Passive background but constant screening for threats allows security teams to have a full visibility into security risks and be ready for a response at any moment of time.

Protect your cloud

The cloud has brought outstanding opportunities for global and local businesses. However, it also brought an additional threat as hackers are able to access vital cloud-based infrastructure from anywhere in the world. While the cloud improves the efficiency and opens new frontiers, no company should assume its cloud service provider can fully protect the business. The responsibility for protecting assets allocated in the cloud is always on the business to which the assets belong. Appropriate security systems need to be deployed to ensure the security of the cloud.

Detect threats from within

Cybercriminals in 2016 are extremely imaginative, tool-rich and sophisticated. Moreover, they constantly learn and develop new strategies along with exploring loopholes in security systems. As mobile technology took over the industries, cybercriminals will certainly find their ways to take advantage of the trend. With the use of evolving technology, cybersecurity systems can’t leave aside new devices and traditional threat channels. Defense systems need to evolve constantly and be able to be adjusted and deployed in nontraditional ways to close emerging gaps.

Relationships and types of interactions between employees and employers are evolving and even in financial services, some organizations already allow workers to use internal systems remotely. Given the rise of cloud computing, remote access to sensitive data from personal devices becomes a significant source of risk. Advanced defense systems need to be able to address the risk and shut the loophole for hackers.

We have been actively covering the cybersecurity topic before and suggesting the best practices to ensure the security of the data. Here are some important ones:

- An implemented and dynamically evolving comprehensive cyberthreat intelligence strategy

- Tailored cybersecurity investments: It is vital for the company to understand the core assets that are most important to the company and have the greatest value

- The anticipation capabilities must be effective both in regard to threats to the sources of threat and timing

- Immediate response readiness

- The most successful cyberthreat detection systems are the ones that are dynamic, flexible and scalable

- Continuous learning and evolution of cybersecurity systems can keep companies one step ahead of the threats to emerge

- Sophisticated admin privileges management to ensure users can only access what they need

Even though cybercriminals have proved to be able to take over private data held by multinational corporations, companies across industries still do not put enough effort and resources to improve the situation and protect their data.