Conducting a Security-Risk Assessment: Based on the nature of business, the most critical threats need to be first understood. These include natural disasters, malicious human attacks or system failures, to name a few. Once the impact of these threats has been determined, regular security assessments can be carried out. Among these assessments, those that must adhere to compliance regulations must be executed first. Routine checks will bring to highlight any gaps in the existing and required security measures necessary for the organization.

Going all-out with Security Measures: Firms often undertake testing to meet compliance requirements but do not fully implement all the suggested security measures or grow lax in monitoring their networks. A “check-the-box” mentality leaves organizations feeling a false sense of security, leaving them vulnerable. A strict follow-up routine will ensure that processes implemented once continue to be executed periodically even when there is no apparent threat.

Employee Training: Conducting employee training through workshops and other platforms is necessary to educate them about the magnitude and kinds of scams used by hackers and fraudsters. The training and awareness of employees must also be periodically revamped to remain updated and relevant. Awareness about phishing scams and what they look like can train employees to become self-reliant to keep cyber-attacks at bay. Specialized remote worker training is also equally important to educate the off-site and work-from-home employees.

Transfer of risk to Cyber Insurance: The average cost of a cyber-attack can go up to several lakhs or even crores, denting the organization’s financial standing. Cyber insurance can help transfer some of this risk covering such costs as the deployment of a forensic investigation, privacy attorney and notification compliance. Some policies even cover the cost of business interruption.

Artificial Intelligence: Hackers tend to use AI and machine learning techniques to breach a firm’s security network. A well-versed workforce in these fields can help remove the threat at a nascent stage by detecting anomalous network behaviour. Levels of risk, type of cyber-attacks and even response to some attacks can be ascertained using AI/ML techniques. Solutions like Advanced Threat Protection ( ATP) or Sandboxing can minimize the unknown threats for large corporates.

Monitored access to Computers: The more the access points, the greater the risk. Employee access to computers should be kept limited and monitored. Administrative privileges must be given only to trusted staff who certainly require them. Larger corporates can implement Privileged Access  & Identity Access Management (PAM/IAM) solutions for automating these tasks. If needed Document Rights Management (DRM) solutions can also be implemented.

Keeping Software Updated: Out-of-date or unpatched software will allow threats to breach the security system. Cybercriminals exploit those networks where software is vulnerable to gain access to data. Updated versions bring security patches that can block out malicious activity from the networks. Larger corporates can use patch management tools to do these automatically.

Use of Multiple Layers of Protection: Developing a strong password policy and adding other monitoring tactics can close entry points for malware. Hard drive encryption and multi-factor authentication on systems should be made mandatory. Deploying firewall, VPN, and antivirus technology can protect endpoints in networks.

Data Back-up: Frequent back-ups are necessary to recover from data loss or data corruption caused due to security breaches. Software support units provide data protection tools to facilitate periodic automatic back-ups to prevent data loss.

Verification of Informal and Financial Transactions: Exchange of sensitive data or execution of monetary transactions should be verified with a financial officer within the organization to avoid opening the networks to suspicious users. Likewise, attention should be paid to what is being shared on social media handles of the firm as fraudsters are always alert and looking out for any information that can help their ulterior cause (social engineering ).

Access Revocation of Resigned Employees: When employees leave an organization, their access to the networks, including their credentials on all software applications, domain access and other IDs, should be revoked immediately. If left unchecked, this could lead to data leakage and cyber-attacks. Larger corporates can look at automated tools which make it easier to do these tasks.

  Investing in cybersecurity is an undisputed investment for the future of an organization. Implementing all possible cyber-security measures is more important than ever in this age of rampant data breaches. While proper tools in place could seem costly and cumbersome, they can help mitigate severe damage to the firm’s financial standing and overall reputation if executed correctly. Preventing cyber-attacks is not a complex undertaking if organizations and workers are aware and educated with the above basic security measures.  

About SNS

Secure Network Solutions India (SNS) provides a quantifiable, risk-based approach to building corporate cybersecurity based on globally recognized frameworks and standards. We have been protecting businesses for the last 20 years! Write to us at [email protected]