Breaches are Becoming More Common

Hi, again! Today we're here to talk about some ways you can reduce the cost of a data breach for your business. We know that no one wants to deal with a breach, but unfortunately, they're becoming more and more common. In fact, around 83% of businesses have experienced more than one data breach already.

But don't worry! There are some proven tactics you can use to mitigate the damage of a cyberattack. First, let's talk about why breaches are so costly. Not only do you have to deal with the immediate costs of fixing the breach, but you also have to factor in lost productivity, lost business, and lost customer trust. Plus, legal costs can add up quickly.

According to a recent report from IBM Security, the average cost of a data breach globally is $4.35 million, and in the US, it's even higher at $9.44 million. For smaller businesses, the costs can be a little lower, but the impact can be more devastating since they don't have as many resources to offset the costs.

But there is hope! Here are some tactics you can use to reduce the impact of a breach:

Use a hybrid cloud approach - this means storing some data in a public cloud and some in a private cloud. It's been shown to be more effective than using just a private or public cloud.

Put in place an incident response plan and practice it - this is simply a set of instructions for employees to follow in case of a cybersecurity incident. Practicing the plan can significantly reduce the cost of a data breach.

Adopt a zero trust security approach - this is a set of security protocols that work together to fortify your network. It includes things like multi-factor authentication and contextual user authentication.

Use tools with security AI and automation - using tools that deploy security AI and automation can lower the cost of a data breach by over 65%.

So, how can you get started improving your cyber resilience? Start by taking these tactics one at a time and rolling out upgrades to your cybersecurity strategy. Work with a trusted IT provider to put together a roadmap and address the "low-hanging fruit" first. This could be something like putting multi-factor authentication in place. Then, move on to longer-term projects like creating an incident response plan.

We hope these tips are helpful! Remember, it's always better to be prepared than to be caught off guard.

If you’re worried about the recent uptick in breaches for small businesses, click to Call or Email us today to schedule a meeting.

Are You Adequately Protecting Customer Data?

As we approach the end of the year, it's important to note that an estimated 75% of the world's population will have their personal data protected by data privacy regulations.

If your business collects any personally identifiable information, it's crucial to ensure that it's properly secured. Understanding data privacy rules can be a complex process, but neglecting them can have serious consequences, such as a data breach or costly fines.

As we move forward, there are several important trends to keep in mind regarding data privacy, including the potential risks of AI, the user experience of accessing personal data, the location of cloud data, and the ethics of remote employee monitoring.

It's important to stay informed and proactive when it comes to data privacy regulations. Being unaware of these policies will not exempt you from fines, especially HIPAA, and getting nailed for that is just a Google search and single anonymous form away. Let's take the time to understand these regulations and protect our customers' personal information.

If you’re unsure where your company stands with customer data protection, click to Call or Email us today to schedule a meeting.

Cybersecurity Trends to Watch Out for in 2023

As the world continues to advance in technology, so do the methods used by hackers to breach security and steal information. To help you stay ahead of potential threats, we've researched what cybersecurity experts predict will be the top attack trends in the upcoming year.

Attacks on 5G Devices: With the rollout of 5G networks, expect to see an increase in attacks targeting the hardware used for routers, mobile devices, and PCs. These devices are likely to have code vulnerabilities that hackers will aim to exploit. To prepare, make sure to be aware of the firmware security in the devices you purchase and specifically look for devices enabled for 5G with strong firmware security.

One-time Password (OTP) Bypass: Multi-factor authentication (MFA) is a highly effective form of account security, but hackers are finding ways to bypass it. This includes reusing recent user OTPs, sharing unused tokens, using leaked tokens, and tricking users into resetting passwords and handing over their OTPs through phishing tactics.

Attacks Surrounding World Events: With the increase in cyberattacks during the pandemic, expect to see more attacks surrounding world events and disasters. Hackers launch phishing campaigns and use social engineering tactics to take advantage of unsuspecting individuals during times of crisis.

Smishing & Mobile Device Attacks: As mobile devices continue to be a constant presence in our lives, expect to see an increase in mobile device-based attacks, including SMS-based phishing, or "smishing." These attacks often come in the form of fake text messages that look like shipping notices or receipts and can lead to account or data breaches with just one wrong click. It's important to have good mobile anti-malware and other protections on your devices.

Elevated Phishing Using AI & Machine Learning: Phishing emails are becoming harder to spot as hackers use AI and machine learning to make them appear identical to real brand emails and personalize them for more targeted and effective attacks.

To ensure that your business is prepared for these potential threats, click to Call or Email us today and schedule a cybersecurity check-up.

End of Year Technology Review

It’s the end of another year and time to review your technology stack. One of the most important things that needs to be done annually is to look over everything you have. Do you have any aging servers, workstations, or laptops? It’s generally accepted that servers should be replaced every 4 to 6 years. Workstations and laptops are typically refreshed every 3 to 5 years. It just depends on how durable the equipment is. At a minimum, it would be advised to replace the storage media in everything you own every few years. Hard drives should be replaced with solid state drives and solid state drives should be cloned off onto new units to help prevent data loss. We can recover a failed hard drive or solid state and get your data back, but it’s expensive!

Another thing to look at is your chosen software that runs your business. As software ages, more and more security holes are discovered. When older software reaches what’s called its end-of-life, the developers cease to provide patches to shore up those security holes. This makes hacking into your technology a snap for intruders. We’ve had several of our new clients jump ship from other IT providers in the area this year. As we take them on and begin the onboarding process, the most common issues we’ve had to deal with is old, unsupported, highly vulnerable Windows servers, workstations, hardware firewalls that are unarmed for intrusion prevention, and extreme levels of HIPAA compliancy breaches. It’s no wonder we are seeing more and more successful intrusion and ransomware attacks on the Gulf Coast these days. Just because an IT provider really knew their stuff in decades past and are well-spoken in meetings doesn’t mean they have relevant security knowledge in this new day-and-age, and we’ve now seen the fallout first-hand. We also get to see what the other guys are using and it’s a good feeling to know that we’re using some of the most advanced security technology on the Gulf Coast thanks to our internal expertise combined with our globally-renowned partnerships.

Finally, it’s time to look at employee productivity. Are they utilizing your chosen technology stack in the most optimal way possible? When you spend money on IT, it can create as much as double the revenue generated by your employees, but only when they’re on-board with the changes and using the technology correctly. Make sure your people aren’t using shadow IT in their day-to-day handling of your sensitive and critical business data. Using stuff like Dropbox, personal Google Drives, and not having a way to encrypt email are all big no-no’s anymore. It’s time for that annual audit.

Has your IT provider been helping you keep up with your annual business process audits? If you only see them when there’s a problem, it might be time to start calling around to check out other options. Click to Call or Email us today. We would be happy to meet with you and discuss your needs.

What is Conditional Access?

Passwords have been a primary means of authentication for a long time, but their recommendations for length and complexity have changed over the years. Despite this, 81% of all breaches still originate from short or simple passwords. This is often due to employees choosing convenience over security. They may choose to use simple, repetitive passwords that are easy to remember, despite being warned about the dangers of this practice. This can put the organization at risk of data theft or digital vandalism.

To increase security, organizations can implement Conditional Access, which controls access to network and cloud resources based on factors other than just credentials. This includes verifying information such as IP address, geographical location, and device used during login attempts. For example, if a user attempts to log in from an unfamiliar location or device, additional authentication measures may be required. This can help prevent unauthorized access, even if a password is stolen or shared. Additionally, organizations can also enforce a password rotation policy, as well as mandatory password length and complexity requirements. Combining these security measures can provide an additional layer of protection to the organization.

If your company is concerned with the possibility of data theft or digital vandalism, click to Call or Email us today. We can help keep your company out of the bad news headlines.