Why is Cybersecurity such an issue right now? And why are businesses turning to SOCaaS for their security needs?
Announcement: Cybersecurity encompasses everything that has to do with protecting sensitive data. That’s the main reason for agencies or companies that specialized in cyber crimes exist. Nowadays data breach attacks are on the rise. Criminals, competitors, and all-around malcontents are breaking down company walls, private or governmental, in search of information they can use for a profit. Protected financial data, intellectual property, industrial systems theft, or Personally Identifiable Information (PII). In today’s digital mainstream, partly driven by connectivity, automation, and cloud services to store sensitive data, Cybersecurity is one of the main pillars a company has to constantly reinforce. Aside from protecting your assets and those of your clients, Cybersecurity and its function within your organization are important due to governmental oversight. In 2016, the EU created legislation that governed Data Protection. The GDPR enforces the way data is collected and protected not only by the public sector but by the private sector. Since that groundbreaking moment, other regions and countries have followed suit with similar laws. What does this mean? Well, it means that your company is responsible for guarding sensitive data. If there is a breach, aside from what it means as a PR disaster and the various ways you can be held accountable at a civil court, you’re also liable at a criminal level. Judicially, depending on your region, you’re responsible for protecting data that enters your system and if you are found lacking in that department you could face criminal charges. That’s why it’s increasingly important, given that most companies now deal with personal data and work mostly online, to hire out cybersecurity specialists of SOCaaS services.
What does Cybersecurity mean for a business right now?
Well before we can even begin to answer that question it’s important to understand the kind of dangers that are active, as of right now, on the net.
Cybercrime is increasing at an exponential rate. Statistically, it has seen an increase of over 56% in the last year (2019-2020). Cloud services, e-commerce, and our continual exposure to identity information have made cybercrime something ubiquitous and widespread. Identity theft isn’t the only goal – to get to a person’s financial data – cyber-attacks may also aim to comprise data, sabotage industrial controls, disrupt a company’s reputation, and breed distress in an organization or government.
Each year, cybercriminals are becoming more sophisticated and savvy. Changing their methods and adapting to the new security measures. That’s why companies can no longer depend on firewalls or antivirus apps.
A 9th annual Cost of Cyber Crime Study from Accenture and Ponemon Institute estimated that the average cost of cybercrime has increased from $1.4 million in damages during 2018 to $13 million in 2019. Breaches have risen from 11% to a staggering 145%.
Factors that are galvanizing cybercrime right now and why a company must have a dedicated SOCaaS company?
- Cybercriminals are attacking outside their jurisdiction and in many cases are being aided by their government.
- Mobile devices and the Internet of Things have proliferated beyond our control.
- The ease of commerce within the Dark Web.
- The highly distributed nature of the Internet. It’s everywhere and easily accessible.
- Third and fourth-party vendors who process data have poor security measures in place.
What kind of cyber attacks and threats business is currently facing?
Social engineering is still the easiest form of attack. The easiest form for digital entry your company faces right now is phishing and spyware. Most companies are primarily attacked for what is known as ransomware. For financial reasons nothing more than ID theft to gain a client’s banking data.
Why is it difficult to confront cyber-attacks and threats without the help of professionals?
Because typically companies have a reactive policy to cybercrime. They finally seal a breach only when a said breach has been exploited. They act only as a consequence of an attack. Most companies are complacent and only update their MOs to Cyberattacks after the fact.
This creates a vulnerability criminals can exploit. Points of entry and infiltration methods. Cybercriminals are educated and flexible, once a company puts one wall up they are already trying to enter through another route.
Professionals in the field, meanwhile are PROACTIVE. They go beyond simply installing protection methods, but are constantly doing deep analysis based on modern research criminal behavioral patterns, to provide companies with new recommendations.
What is SOCaaS?
SOCaaS stands for Security As a Service. It’s a service that provides monitoring, real-time detection, and threat analysis of security threats.
What can SOCaas Do to Provide Cybersecurity for a Business?
Most SOCaas companies provide the following services:
- Managed real-time detection and response to intruders.
- Behavioral analysis of attacks.
- Real-time alerts.
- An actual dedicated secret team with expert programmers.
- Vulnerability audit and scans.
- Log Analysis with AI learning to outfox intruders.
- Regulatory compliances, so your system is up-to-date with the current area legislation.
In what cases SOCaaS can be the best option for businesses to maintain cybersecurity?
The reality is you need a Cybersecurity team. You can build one in-house, but that demands training, expensive talent, a team with diverse sets of skills, managing said team, and buying integrated software and tools that are costly. You may contact Clearnetwork Security Experts to solve your cybersecurity challenges.
An Outside source or a SOCaaS team will allow you to:
- Spend time thinking about security in general, not about the technological drawbacks your company might have in that field.
- Have a clear idea of the overall cost.
- Get objective insights about your company’s weakness in cybersecurity.
- Have a team that’s on top of innovations and new threats.
- Have a team that invests out of their pocket on the best tools available in the market right now.
Antiviruses are no longer cutting it. In terms of effective business cybersecurity, a firewall is nothing more than adding a tiny code lock onto your airport luggage, all it does is grant you peace-of-mind, a placebo effect. It doesn’t work when someone wants to get to your valuables.
Businesses are turning to SOCaaS For Cybersecurity because they have no other real choice. As a corporation, regardless of the size, Cybercrime is a BIG issue. It has a huge impact on your practices, not only your bottom line but your brand. There’s an economic loss, that disrupts trading, that affects repairing damaged systems. There’s also a reputational cost, consumers and clients lose faith in your ability to keep their information private. And, finally, there’s a regulatory cost, fines, sanctions, and penalties that the government will place on your establishment if they find you are lacking in the cybersecurity department or if you’ve faced a breach.