iFlock FAQ's
The United States Cybersecurity and Infrastructure Security Agency defines cybersecurity as the art of protecting networks, devices, and data from unauthorized access or criminal use and the practice of ensuring confidentiality, integrity, and availability of information.
Cybersecurity is a constantly widening field. Connectivity is ever more embedded in our society; the expansion of the Internet of Things means almost everything is becoming connected to the internet. If it’s connected, it’s vulnerable to attack or unauthorized access. And we’re ever more dependent on the internet for everyday life; more of us work remotely than ever before, an increasing percentage of commerce takes place via the internet, and our personal information from healthcare to finances is largely stored online.
Individuals protect themselves by keeping robust anti-malware protections on their computing devices, installing patches as needed to close vulnerabilities, and following best practices such as having strong passwords and 2-factor authentication and being familiar with avoiding phishing or social engineering.
Businesses must scale their cybersecurity efforts upward with their size and vulnerability to cyber attacks. Not only must they defend their own data and the data of their customers, they must safeguard their network against denial of service attacks that take down part or all of their online operations and presence, have a plan for business continuity and data recovery, physically secure their data centers and information, and ensure employees are trained to avoid social engineering and phishing attacks. Some businesses use platforms like Shopify and depend on their vendors to keep things secure, while others have customized web presences and require a cybersecurity team of their own.
While any business is at risk of a cyberattack, some industries are more inviting targets. Size matters; larger organizations may be targeted more often, but they also have the resources to defend themselves, whereas small businesses that have a smaller cybersecurity budget may be easier to crack. For this reason, businesses of all sizes must implement the strongest cybersecurity strategy they can afford.
Banking / Financial Services
For obvious reasons, banks face more than their share of cyberattacks; the sheer volume of personal and financial information they hold and the possibility of financial gain are powerful motivators; according to Varonis, 86% of cyberattacks are financially motivated.
In a 2016 survey, Accenture found that one out of three financial institutions suffers a successful cyberattack with an average of 85% breach attempts per year. Financial institutions have stringent regulatory requirements for data security including mandatory penetration testing, but the combination of money and information ensures that financial institutions will always be locked in an arms race with attackers.
Healthcare and Medical
Healthcare organizations store vast quantities of data about their patients, not only personal but also financial. Due to the importance of healthcare, ransomware attacks are also a particular concern, especially after the effects of the 2017 “WannaCry” attack that caused major issues for Britain’s National Health Service, among others.
The healthcare industry has some of the strictest regulatory compliance standards of any field, but the potential windfall of a successful attack motivates attackers to use sophisticated means to penetrate healthcare cybersecurity.
Governmental and National Security
Government agencies, militaries, and industries critical to national security are not only targeted by those seeking profit through access to personal information, but by foreign powers, “hacktivists” seeking to draw attention to an issue or cause damage. While big national cases get all the attention, this happens at all levels, such as a ransomware attack on municipal computer systems in Atlanta, GA in which the attackers demanded 6 bitcoins (approximately $50,000 in value at the time of the attack)to restore access to city data.
Utilities and Critical Infrastructure
As demonstrated in the Colonial Pipeline ransomware attack in 2021, power plants, pipelines, and other critical infrastructure are vulnerable to cyberattacks and can disrupt massive swaths of the nation’s economy if successfully attacked. While there is a renewed focus on cybersecurity in these industries following the high-profile attack on the nation’s largest petroleum pipeline, the attack also demonstrated how profitable such attacks can be.
Small Businesses (eCommerce, etc.)
Small businesses may not be as individually profitable a target for attackers, but they often hold significant stores of customer personal and financial data and often either don’t have the resources to implement effective cybersecurity or fail to adequately prioritize it. According to Verizon’s 2021 Data Breach Investigation Report, small businesses suffered 263 data breaches, compared with 307 for larger organizations that typically get targeted far more often.
Small businesses are especially vulnerable to phishing attacks, as they may not have the institutional safeguards necessary for their staff to avoid falling prey to this type of attack.
As with anything else, this varies by organization. Each organization has its own threat and risk profile; a large bank is going to have a very different use case, for example, then a small e-commerce site.
While cyberattacks have recently received media attention as a national security issue, national efforts to improve cybersecurity are slow and focused on preventing attacks against national security assets, voting systems, and other critical governmental infrastructure. Businesses must be proactive in securing their data, systems, and networks.
Many industries have regulatory standards for cybersecurity, but just meeting compliance doesn’t mean you’re secure. Organizations should be realistic about assessing their vulnerabilities and threats, test their current cybersecurity against the latest threats with a reputable penetration testing consultant, and ensure their staff receives regular training on phishing attacks, social engineering, and other prevalent methods in which attackers gain access to otherwise secured systems.
While the particulars of your cybersecurity solution are somewhat dependent on your available budget and resources, the basic elements of a cybersecurity strategy are the same for most organizations.
- Identify what types of sensitive data you store and where you store it: Attackers don’t care about data that’s useless to them. They’re typically looking for customer data, financial data, trade secrets, data about other businesses…anything they can use. Cataloging your sensitive data and where it’s stored helps you formulate a plan to protect it.
- Know your network: Know what hardware and software you use, including cloud services. Build out a plan to ensure security patches are kept up to date and recommended anti-malware measures are in place. With cloud-based storage or vendors, ensure you know what security measures are your vendor’s responsibility and what you’re responsible for.
- Train employees and stakeholders on cybersecurity best practices: It doesn’t matter how good your cybersecurity solution is if a staff member hands attackers the keys to the kingdom. Phishing and social engineering are two of the most common forms of attack simply because modern cybersecurity protection is so good in other respects. Using social engineering techniques to obtain legitimate credentials, or tricking a user into clicking on a link in an email that gives the attackers a way in, negates any other cybersecurity investment your organization makes. Investing in smart password management, two-factor authentication, and employee training and buy-in is just as important as strong technology-based protection.
- Find the right partners: Large organizations with their own dedicated cybersecurity teams may not have all the needed expertise for true security, and smaller organizations may not be able to afford cybersecurity professionals. And that’s OK! Cybersecurity consultants free you to focus on your core competencies and handle securing your data and networks for you! Cybersecurity is a specialized field, and for many organizations, it’s far more efficient to bring in specialists than to try to handle cybersecurity in-house. They can tell you how best to use your available resources and arrange for penetration testing to find and secure vulnerabilities.
Before a cyberattack occurs, your organization should have a response plan in place, outlining how to handle the aftermath of an attack. While there can be variations based on the type and scale of the attack, your plan should address the following items:
- Contain the Breach: Determine what parts of your network are compromised and contain them. Disconnect them from the internet, disable remote access, and install any pending security updates or patches. Create new, strong passwords.
- Assess the Damage: If you’re not the sole victim, coordinate with other businesses that have suffered from the attack and share information. Work to determine how the attack occurred. Who had access to the affected systems or networks in question? What network connections were active? How was the attack initiated? You may be able to determine how the breach occurred through security data logs from your firewall, anti-virus software, or email/internet provider; if you can’t, a qualified cybersecurity investigator may be able to do so.
- Identify Affected Parties: If the breach allowed attackers to access data from employees, customers, other businesses, vendors, or investors, it’s imperative to find out who was affected and how, and then notify those parties. Being proactive and transparent can go a long way toward restoring customer trust.
- Prevent a Repeat: Once you’ve determined how the breach happened, close it, and implement a cybersecurity strategy to close other vulnerabilities as well. Educate your staff on best practices and secure and test your network.
Phishing has become the most common type of cyberattack in recent years; Phishing is a type of social engineering, in which an attacker fools someone into revealing sensitive information or allowing malicious software to penetrate your organization’s defenses. The most common form of this is an email that is crafted to appear as if it came from a legitimate sender, with a link that if clicked gives an attacker a backdoor into the system. These are sometimes sent out in bulk, but in cases where an attacker is specifically attacking an organization, more sophisticated schemes may be used, such as an email purporting to be from another employee or even a senior member of your organization, or one tailored to specific individuals.
Fortunately, these types of attacks are defeatable. All users should receive regular education in how to recognize phishing emails and be advised never to click on anything in an email that isn’t verified as from a trusted, legitimate source, even if it looks official. If an email looks suspicious, it should be forwarded to your cybersecurity team or consultant. In addition, using email software that includes strong filters, such as G Suite, and good anti-malware software can help filter out phishing emails, and using two-factor authentication can help keep attackers out even if they do get access credentials through this type of attack.
Yes. Forbes reports that distributed-denial-of-service attacks are expected to increase to 15.4 million in 2023, up from just 7.9 million in 2018. Ransomware and phishing attacks, specifically, are increasing. Cybersecurity threats against industrial control systems and technology more than tripled in 2020 compared to prior years.
Purplesec reported that cybercrime has increased by over 600% since the start of the pandemic. Experts agree that the permanent shift of much of the workforce to remote work has created vulnerabilities, as cyber attackers attempt to exploit those who aren’t used to remote work tools and are thus vulnerable to attacks.
Cybersecurity starts with a strong strategy that should include the following steps.
- Conducting a cybersecurity risk assessment and developing a plan: What are your key assets? What data do you collect and store and what is the risk level of that data being accessed during a breach? How vulnerable is your network and how is it secured? Once you assess your risk, you can prioritize how to secure your systems and data and where to allocate your resources. Use this information to develop your risk management plan.
- Set goals: Set your short-term and long-term cybersecurity goals based on your assessment. This gives you the roadmap you need to address your cybersecurity needs.
- Evaluate your technology: Inventory your assets and whether they are the best fit for your needs, both from a business sense and a security sense.
- Build out your framework: Your framework addresses both your regulatory requirements and strategic business goals. Regulations define your minimum security framework; for example, if you accept consumer credit and debit cards, you must meet PCI-DSS requirements. However, your organization’s security goals may require doing more than regulations require.
- Develop policies: Employees and other users of your network can be your biggest strength or deepest vulnerability. Smart, enforceable security policies can keep your network safe by requiring users to be security-conscious in their use of your networks and systems. In addition, regular anti-phishing and cybersecurity training ensures those users have the tools to help, not hurt, your cybersecurity.
- Implement your strategy: You’ve assessed your vulnerabilities and risk tolerance, built out a plan, and implemented policies. Now it’s time to implement your strategy. Work with your IT team to replace vulnerable technology, remediate vulnerabilities found during your assessment, and monitor new and existing vulnerabilities going forward.
- Evaluate your cybersecurity strategy: This is a continuous process. Threat actors continue to develop new capabilities; your cybersecurity must evolve to stop them. Regular penetration testing is necessary to keep up with a changing threat environment. The information gathered from testing ensures you’re deploying your resources correctly to stop new threats and maintain true cybersecurity.
Any transformative new technology brings its share of new security issues, and cloud services are no exception. The cloud creates new capabilities and efficiencies for many organizations, but it does bring its share of cybersecurity challenges as well. In the past, IT and cybersecurity teams could focus on securing user machines, keeping them clear of malware, and maintaining the security of a local network. With the advent of cloud-based technologies, cybersecurity professionals must ensure the security of communication with remote networks and systems. It’s important to realistically consider the vulnerabilities and risks of both internal and cloud-based systems when developing your cybersecurity strategy.
Information and data are critical to industries and businesses in almost every field, and securing that data is important for customer/stakeholder trust, liability, and operational concerns.
Almost every organization relies on the internet to operate. Ensuring that your online presence is available, that the online tools and services you need are operational, and that the data your organization depends on is secure and accessible is crucial to your success. Privacy is considered by many to be a fundamental human right; failure to keep data secure erodes trust in your organization and can even lead to civil or criminal liability if you don’t comply with cybersecurity regulations. It can also have profound negative effects on your business; a loss of proprietary data can lead to an advantage for your businesses’ competitors.
Keep Your Company Secure with iFlock
Schedule a consultation today to find out how we can help you keep your system safe from cyber threats.