Cybersecurity Power Trio – Explore the Integration of People, Processes, and Technology for Cybersecurity
Cybersecurity is a critical aspect of every organization’s smooth operations. Cyberattacks cause damages in terms of revenue and data loss. By combining the power of people, processes, and technology, organizations can create a strong guard against cyber attackers and threats. They can empower their people through rigorous training, make policies that ensure secure data access, and use technologies like AI and ML to detect cyberattacks beforehand. Read this blog to know how putting these three in place can help organizations tackle cyberattacks with ease.
Block, Inc. disclosed a cyberattack at Cash App, a subsidiary company, in December 2021. In-house reports, with data on over 8 million past and present Cash App Investing users, were still accessible by a former employee.
The corporation asserted that the stolen reports had no personally identifiable information, such as usernames, passwords, or Social Security numbers, but it didn’t say anything about why and how long the former employee had access to confidential internal data. A lack of organizational cybersecurity strategy is a major cause of this breach.
Similarly, the multinational digital communications corporation Cisco discovered an intruder within their network in May 2022. According to their internal investigation, the attacker used several highly skilled voice phishing attempts to gain access to a Google account belonging to a Cisco employee. Cisco’s internal systems were easily accessible to the attacker because the employee’s credentials were synchronized in a browser.
The attacker attempted to prolong their stay in Cisco’s network and gain more access after gaining initial access. Nevertheless, Cisco’s security team and cybersecurity strategy successfully eliminated the attacker from the network. Later, Yanluowang, a ransomware group, published files that had been compromised online. Cisco claims that this hack did not affect their company’s operations.
Source: Ekran Systems
The State of Cybersecurity in the Modern Business Landscape
In 2022, 493.33 million ransomware attacks took place across organizations worldwide. These are some of the most common types of cyberattacks. Organizations sometimes have to pay millions to recover confidential data from ransomware threats.
As per research published by Cloudflare, there was a 67% year-over-year and a 24% quarter-over-quarter surge in ransom DDoS attacks. Application-layer DDoS attacks surged significantly in online businesses, increasing by 300% year over year and by 131% quarter over quarter.
In March 2023, one of the biggest DDoS assaults happened. The French National Assembly’s website went temporarily down as a result of a DDoS attack that was planned and carried out by Russian hackers. The hackers blamed the attack on the French government’s backing of Ukraine in a Telegram post.
$4.35 million is the average cost of a data breach worldwide. Nearly 46% of companies pay ransom after a ransomware attack. The cost of data breaches is significantly increasing as companies become more and more data-centric. Therefore, there’s a crucial need to have cybersecurity measures in place.
Bringing People, Processes, and Technology together for Cybersecurity
Because security threats are ever-changing, organization security measures must also be modified. Establishing a more robust foundation for cyber protection is essential in this environment that is becoming more chaotic and complex. The three main components that organizations implementing best practices concentrate on are people, processes, and technology in cybersecurity.
- The first point of defense in your cybersecurity strategy roadmap against a cyberattack is your people. This implies that to prevent unintentionally allowing data loss and the severe financial and reputational harm that invariably follows, you and other individuals in your company need to know not just what to watch out for but also how to alter your behavior.
- Your company’s data is all sensitive as it belongs to you. Crucial names and email addresses can be sufficient for a criminal to cause significant harm rather than highly personal information. Therefore, any employee in your company with access to any data could endanger your company. You need three things to support your people: processes, technology, and high-quality, behavior-changing cybersecurity training.
- All organizations, regardless of size or nature, have to have processes for cybersecurity success in place to assist with handling cybersecurity concerns. What data is accessible to whom? How do users sign in? Do you authenticate using two factors? What occurs if someone hacks into your security system? How do you notify customers when you lose their personal information? How do you handle the harm to your image?
- After being attacked, the last thing you need to be doing is all of this. Create strong, transparent policies and let your teams know about them so they understand how seriously you deal with this big risk.
- Everyone is a tech fan. Additionally, it is essential for defending your company from cyber assaults. So, where should you begin? The National Cyber Security Centre is in charge of managing the government-backed Cyber Essentials certification program, which smaller businesses can begin with even though ISO 27001 is the most robust standard.
- Businesses are embracing the Cyber Essentials certification more and more; it’s a government-sponsored program run by the National Cyber Security Centre. With a broad technical scope covered by this certification, investors, suppliers, and consumers can feel confident in the general requirements of your systems and technology.
Conclusion: Cybersecurity takes center stage
Examining the People, Process, and Technology cybersecurity power trio is more than maintaining your company’s security. It’s about creating a security-conscious culture in which everyone is aware of their responsibility to protect against online risks. It is not just optional but necessary to retain a firm position on cybersecurity when the boundaries between the digital and physical realms are becoming increasingly hazy.
If you are looking for a software product engineering company to help you build secure products and solutions, Tntra is your right partner. We have developed highly secure software solutions for companies in 25+ industries.
Contact our experts today.