Did you know that in 2019, 96 percent of organisations said that they had suffered one or more breaches due to external cyberattacks? 1 What this shows is that no business, big or small is totally secure, which is why it is essential that organisations adopt and implement 360 full and strong cybersecurity approaches to protect their assets.
What is Cyber Security?
We have all heard of the word cybersecurity but do we know what it meant and how it actually works? According to the IT Company, Cisco, cybersecurity is the practice of protecting systems, networks, and programs from digital attacks. It works by identifying the possible attacks, responding to threats and recovering from successful attacks.
This term applies in several of contexts, from business to mobile computing, and can be divided into a few categories. 2
Is Cybersecurity relevant to all companies?
If you are one of many businesses that are not taking cybersecurity seriously or have not yet implemented any cybersecurity measures, now it is the time to relook at the security level of your company operations and process and start to notice the need for cybersecurity.
You might have the mindset thinking that your company will not be a target of hackers but remember that hackers attack every 39 seconds on average. 3 You would definitely not want to be the victim of these hackers and let this attack ruin your company reputation or even worst, resulting in financial loss.
Cybersecurity Ventures has predicted that cybercrimes would cost the world $6 trillion by next year, 2021. 4 Take a look at this example, it simply takes just five minutes to hack an internet-connected device, which includes your smartphone, smartwatch, smart television, and home control systems, according to a Netscout report. 5 If you think about information that could be taken from you or the damage to your reputation, you know the deadly risk you may be in.
Why 360 protection is needed?
As mentioned above, these are the four main aspects of 360 cybersecurity protection and the possible threats it can help to prevent:
Network Security is the practice of preventing and protecting against unauthorised invasion into corporate networks.Threats:
- Ransomware: This is a type of malicious software that infects a computer and restricts users' access to it until a ransom is paid to unlock.
- DDoS Attack: This makes an online service unavailable to users, usually by temporarily interrupting or suspending the services of its hosting server.
- Trojan Horse: This is a program that appears to be legitimate, but is actually infected with viruses.
Threats:
- Security Misconfigurations: This pertains to failure to implement all the security controls for a server or web application.
- Cross Site Scripting (XSS): A malicious script is injected directly into a vulnerable web application.
Threats:
- DDoS Attack: This makes an online service unavailable to users, usually by temporarily interrupting or suspending the services of its hosting server.
- Malvertising: This typically involves injecting malicious advertisements into legitimate online advertising networks and webpages.
- Phishing attacks: This is a type of information security threat that involves breaking normal security practices and giving up confidential information.
Threats:
- An unauthorised user from outside the organization has access to internal data
- An internal, authorised user has too much access to internal data
It is coming clear that hackers are becoming more innovative and today there are more devices than people. With the growing number of hackers, it also means higher threat for companies as there is the ease of availability and access to highly advanced and sophisticated methods or tools for hacker systems. 6
What is cyber insurance and why does your company need it?
Yes, it's exactly what you'd think it would be, cyber insurance is like regular insurance, except it's meant to safeguard your company against the dangers brought on by the digital age. Cyber insurance protects and helps businesses against the potentially deadly effects of cybercrimes.
Some companies may have felt that they wouldn’t be the target for hackers as they are small in size or they do not sell special products or services. Unfortunately, these hackers may not care about the size or nature of the business. Ultimately, they look for potential victims who do not take cybersecurity seriously. Companies also need to understand that what type of incidents does cyber insurance covers and does not cover and in the event of a cyber breach, you are still protected by it.
If you are still thinking that cyberattacks only occur to big companies but not smaller companies, you are completely wrong. According to the Cyber Security Agency of Singapore (CSA), almost 40 percent of cyberattacks in Singapore target small and medium enterprises (SMEs). Phishing attempts and ransomware were the most common methods used.7
In 2019 alone, there were 7.24 million local incidents detected by Kaspersky Lab as compared to 6.75 million in 2018. This includes attacks caused by malware spread via removable USB drives, CDs, and DVDs, and other ‘offline’ methods.8
Singapore remained amongst the hotspots for cyberattacks, ranking 10th worldwide with 11 million attacks caused by servers hosted in the Republic in 2019, according to Kaspersky Security Network (KSN)9
What is the perfect solution for your company?
Netpluz Asia Pte Ltd has the ideal solution for your company with eSentinel. One of its latest solutions, eSentinel is a simplified all-in-one (360°) cybersecurity protection platform for business, an additional cyber defence layer at the ISP level. It is also bundled with cyber insurance that you might now know the importance of it.
It is divided into two defence layers:
External Defence Layer
Internal Defence Layer
- Next-Generation Firewall
- Intrusion Prevention Systems (IPS)
- 24/7 SNOC Monitoring with alerts & notification
- Customisable Network-layer policies
- Periodic Vulnerability Assessment
With e-Sentinel that protects your business all round, you can now enjoy tighter security at affordable cost!
Summary
You should know by now that by having the right cybersecurity in place in your company is essential otherwise you are putting your company sensitive data such as trade secrets, personal and financial information at a huge risk!
Companies should endeavour to have proper cybersecurity in place instead of the usual antivirus software or firewall. While IT security administration would incur extra costs, it is still less expensive than having the organisation framework being compromised at all.
You can visit us at Netpluz to find out more information about eSentinel. Alternatively, you are welcome to email us to arrange a complementary appointment with our experienced manager.
Referencing
1: Baharudin, H. (2019, April 02). Nearly all organisations in Singapore have suffered close to 4 cyber attacks in past year: Survey. Retrieved July 13, 2020, from https://www.straitstimes.com/tech/nearly-all-organisations-in-singapore-have-suffered-close-to-4-cyber-attacks-in-past-year
2: Kaspersky. (2020, March 10). What is Cyber Security? Retrieved July 13, 2020, from https://www.kaspersky.com/resource-center/definitions/what-is-cyber-security
3: Hackers Attack Every 39 Seconds. (2020, May 24). Retrieved July 13, 2020, from https://www.securitymagazine.com/articles/87787-hackers-attack-every-39-seconds
4: Cybercrimemag. (2018, December 10). Cybercrime Damages $6 Trillion by 2021. Retrieved July 13, 2020, from https://cybersecurityventures.com/hackerpocalypse-cybercrime-report-2016/
5: Threat Intelligence Report - Powered by ATLAS. (n.d.). Retrieved July 13, 2020, from https://www.netscout.com/threatreport
6: H. P., By, -, Hardik Patelhttps://www.newsforpublic.comHardik Patel is a Digital Marketing Consultant and professional Blogger. He has 5 years’ experience in SEO, Patel, H., & Hardik Patel is a Digital Marketing Consultant and professional Blogger.(2020, May 27). Why Cyber Security is Important for a Modern-day Society: News For Public. Retrieved July 13, 2020, from https://www.newsforpublic.com/cyber-security-important-modern-day-society/
7: Ngan, T. L. (2019, August 14). Cybersecurity & SMEs: Small business are the big victims. Retrieved July 13, 2020, from https://www.articles.asme.org.sg/single-post/2019/08/14/Cybersecurity-SMEs-Small-business-are-the-big-victims
8: Singapore named 10th biggest cyberattack source in 2019. (n.d.). Retrieved July 13, 2020, from https://sbr.com.sg/information-technology/news/singapore-named-10th-biggest-cyberattack-source-in-2019
9: Singapore named 10th biggest cyberattack source in 2019. (n.d.). Retrieved July 13, 2020, from https://sbr.com.sg/information-technology/news/singapore-named-10th-biggest-cyberattack-source-in-2019