Business Owners

As business owners, you recognize that Cyber Security is important to the well-being of your company. Regardless of how sophisticated your security systems could be, they’re only as strong as those using them. Inevitably, human errors are the weak link in any Cyber Security strategy. According to “The State of Ransomware,” a study conducted across the world to identify and help understand the current state of cybersecurity.  Ransomware incidents are up year after year with the typical cost in 2021 being $1.85 million per a recent Sophos ransomware study. 11% of companies reportedly paid out over one million dollars to the scammers. According to Heimdal Security, the debt management company stated that a ransomware assault that occurred in February 2022 resulted in a data breach that affected over 600 healthcare businesses. REvil, another ransomware gang stole data belonging to Quanta, (Quanta Technology LLC is a utility infrastructure consulting company based in Raleigh, North Carolina.) like drawings and schematics meant to be used in relation to some Apple products. Because Quanta didn’t pay the $50 million ransom the hackers asked for, they started posting the stolen schematics for Apple Macbooks on their data leak site. Not surprisingly, Verizon’s recently released data breach investigations report identifies the foremost significant culprits as stolen credentials and phishing attacks. This is often a transparent indicator that the standard security training program for your employees isn’t going to work.

 

 An incident, by definition, is an occurrence that will disrupt or cause a loss of operations, services, or functions. 

  • Unauthorized access to a system 
  • Ransomware 
  • Data Breaches 
  • Successful social engineering attacks 
  • Malware, Phishing, Spamming, Spoofing, Spyware, Trojans, and viruses 
  • Denial-of-service and Distributed denial-of-service attacks 
  • Website Defacement 
  • Financial Fraud 

 

As business owners, It is key to develop and implement a contemporary response program so that losses can be mitigated during the time of an outage. At a minimum, Your complete incident response program should encompass the following…

  • Risk Assessment – Serves as the foundation for Incident Response and Contingency Planning. A risk assessment identifies the potential threats to an organization factored by the impact on the organization when such an event does occur. Incident Response planning incorporates the results of risk assessments and develops a strategy for addressing likely and impactful threats. 
  • Incident Response Plan – Provides direction on responding to, containing, remediating, and recovering from an incident. Plans should include specific strategies for handling different types of scenarios. 
  • Employee Awareness – Once developed, you must ensure all impacted employees are aware of and trained on the plan. Employees must be prepared to identify and effectively communicate an incident occurrence.
  • Practice Exercises  – Uncovers issues you may experience during a simulated scenario before an actual incident happens. These exercises allow the organization to evaluate the protection measures, preparation tactics, and procedures and mitigate gaps in a risk-free environment.   
  • Incident Prevention Plan – The best defense against an incident is to prevent it from occurring in the first place. While not all incidents can be prevented, there are steps and controls that an organization can take to reduce the chances of an impactful incident from occurring. 

Some of these contingencies include: 

  • Security Awareness Training
    •  One of the foremost efficient ways to safeguard against cyber-attacks and every one style of data breaches is to coach your employees on the cyber threat landscape and to verify the effectiveness of the training.
  • Regularly monitor and audit your network
    • Continuous monitoring has emerged as a vital consider minimizing risk by utilizing repeatable processes to detect and answer threats. 
  • Protect access to critical systems and data
    •  Use the principle of least privilege access and implement multi-factor authentication. (MFA) 
  • Ensure the security of your data through regular backups 
  • Make sure that your backups are thoroughly protected and encrypted 
    • a secondary copy is stored offsite in an exceedingly protected environment. 
  • Incorporate a robust patch management solution and cadence 

In our time spent aiding companies with their business-related issues, we have found a direct correlation between the time it takes to react to a situation and the cost associated with recovering from one. By implementing the measures covered above, business owners will increase your organization’s ability to respond to and recover from a cybersecurity incident swiftly and efficiently.

 

Stop by our office to chat with any questions or comments you may have. Our doors are always open!

CONTACT US to discuss how we can help you to stay compliant, protect data and be proactive with a reliable technology solution you and your patients can trust.

Davis Business Technologies

Phone- 610-264-1600

Address- 924 Marcon blvd, Allentown PA, 18109 Suite. 104

Davis Business Technologies

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