Instruments like ransomware insurance and managed security services are ensuring that organizations are provided with the required protection as well as with damage control facilities. Varied industry veteran believes the development of such tools has inspired hackers to strive harder. The cybersecurity industry continues to innovate new ways to safeguard data and user-identity.
While the bigger organizations can spend heavily on IT infrastructure and cybersecurity services, small-medium businesses continue to live in denial. With no resources to conduct a vulnerability assessment and ensuring proper data-management, these less privileged businesses suffer immensely at the hands of hackers.
Lack of robust infrastructure at SMBs allows individuals to abuse the power of data access. Often employees with no authorization cross the limit and gain access to data servers and steal valuable information.
If looking at all cyberattacks that occurred in the recent past, we can see a huge number of them occurred with support from internal employees. Often employees are planted and used for gaining valuable information.
A huge percentage of data breaches also occur because former employees’ accesses weren’t revoked. These employees continue to enjoy important data that is shared with clients on a day-to-day basis. Former employees either sell these data or use it for their gains.
Solution: Hierarchy based access system is something that is being recommended as a secure coding practice across all organizations. With only the top-level employee’s access to vulnerable data, the chances of being under attack reduce by leaps and bounds.
With a lesser number of employees having access to data centers, it gets easier to set accountability in case of a breach. One such system is also required when fulfilling the 12 requirements of PCI DSS Compliance.
If there’s one lesson, every organization should learn from COVID Pandemic, is to maintain a robust business continuity plan. Varied businesses were outnumbered when asked to move their processes to remote working. Lack of experience, a manual, and a proven process coaxed a lot of them to succumb and lose businesses.
While the ones who had maintained a robust BCP had an easy time transitioning from the office to work from home. Multiple organizations try and test their BCPs regularly to ensure their effectiveness.
Solution: Creating a business continuity plan from scratch will ensure that business processes continue to run even during the adverse situation. SMBs can rely on professional service providers that prepare customized BCP for all sizes of organizations. Going ahead, SMBs can build upon this service and ensure effectiveness under all circumstances.
Business continuity plans are necessary, the absence of one can make it tough for organizations to come out of disasters, whether natural or man-made.
Hackers know that SMBs cannot provide them with a high ticket credit card or social security details hence they try to obstruct the operations. By carrying out varied kinds of attacks, hackers believe in disrupting the ecosystem. Often these attacks are sponsored by industry leaders who are scared of small businesses or start-ups that can disrupt the entire industry.
DDoS and ransomware attacks are the two most popular attacks that are launched by hackers on SMBs. DDoS attacks render all servers useless by overloading them with superficial traffic. Hackers gain nothing out of these attacks but the organization fails in catering to the genuine customers because their servers get busy with pseudo traffic.
In case of a ransomware attack, hackers lock the system and ask for ransom just to unlock the system. These attacks are often inspired when SMBs or start-ups start to gain momentum and start generating money from the market.
Solution: Managed security services rely on security operation centers, which looks over all organizations’ data in real-time. Such surveillance ensures that all unwanted eyes are removed before they grow into something tangible. By rendering all such attempts useless in real-time, the MSSPs help businesses run 24X7 without being under any kind of potential threat.
Many times, hackers target SMBs through API integration. In such events, the API integrations are compromised and they consist of malware or spyware that can either steal information or disrupt the streamlined processes.
Since SMBs do not work on high-ticket data, hackers just aim to disrupt the processes and reduce competition. Going ahead, such attacks are increasing since the adoption of cloud computing has increased, people are likely to fall prey to such attacks.
Solution: API integrations are important to ensure the streamlined performance of companies in contemporary times. Businesses simply cannot ignore potential hazards related to such integrations.
The key here is to get ISO Compliant and collaborate with organizations that are compliant too. The ISO family ensures that all data shared are secured and all integrations are safe. Such compliances promote businesses as user-friendly, which has its additional benefits
Small-medium businesses can continue with their day-to-day processes and still get fined heavily by agencies and compliance organizations. In the changing times, the norms are changing incessantly. Lack of awareness about the changing guideline or norms can invite additional fines, which can disrupt entire business processes.
The growing attacks have coaxed PCI DSS and likewise council in toughening the norms hence it is necessary that organizations are keeping up with the changing times. Lack of awareness can affect the entire business.
Solution: Getting cybersecurity consultancy from a proven player can keep SMBs secure. Working under the security blanket will help these organizations gain momentarily and win big in the long run.
A consultant or PCI QSA will ensure that your organization is functioning within the 12 commandments of the PCI Council. Such surety will allow organizations to carry on with their day-to-day processes without any worries.
The changing paradigms of the IT industry are coaxing every organization—irrespective of size—to adopt practices that ensures effectiveness against cyber-attacks and threats. The challenges will continue to grow and the only way out is prevention.
By acquiring the requisite tool, services, and consultancy, SMBs can ensure that they are functioning with the norms and are not getting affected by the internal and external attempts of sabotage.