Cybercrime is a very lucrative industry. Criminals are rarely caught, and yet trillions are expected to be earned through cybercrime by 2025. There is not a single reason for cybercriminals to stop, which is why cybersecurity should be the #1 priority for all businesses.
Smaller businesses are often targeted because of their lack of security, making them easy pickings. Once you install some basic security measures, it decreases your risk of attack significantly, because you aren’t worth the effort.
Enterprises, on the other hand, are always top targets. Even the best security system in the world does not make you immune, as the Facebook user data leaks, Capital One breach, or even the DoorDash Hack have all proved to us.
Enterprises need more than security. They need cutting edge tactics and preventative methods. They need to always be one step ahead, which is why cybersecurity is not just a priority, it is essential to their very survival.
How Much Cyber Crime Costs Large Enterprises
Cyber-crime makes hackers a lot of money (in the form of malware or ransomware) but sometimes… it doesn’t. For example, the Facebook user hack? The information from 267 million accounts, which includes everything hackers need to launch phishing and phone scams, sold for just $547.
The true cost of cyber-crime isn’t necessary in how much is stolen, but how much it affects your business. TalkTalk, a big telephone company in the UK, was hacked in October 2016. The true cost was a loss of 101,000 customers or just around £60 million in revenue.
In short, Enterprises will feel the pinch whether the hacker stole large sums directly or indirectly by tarnishing their reputation with their customers.
How Large Enterprises Protect Against Cyber Crime
Large enterprises need to protect their own systems from malware and their data from being stolen. Updates, upgrades, and new measures must always be implemented to stay on top of attacks.
The Top Cyber Security Systems
Enterprise-level businesses need strong security systems that, most importantly, are scalable. Systems like checkpoint enterprise provide 15400 and 15600 appliances with their firewall series, making them the perfect choice for businesses who need to expand at a moment’s notice and employ high-performance security at every step.
IT Support and Security
On top of having the strongest scalable security systems (for both your on-site and cloud-based data), you will also want on-site or at least outsourced IT support. They will be able to best configure your security tools and ensure that you are following the best practices of the day.
If you do experience an attack, they will also be the ones to diagnose the problem, the extent of the problem, and help devise a strategy to make sure that it never happens the same way again.
Employee Training and Recognition
Endpoints refer to all the devices that connect to your server. So, all those phones, personal computers, or tablets your employees bring in are endpoints. They are a considerable threat. Why? Because they have access. If your employee unwittingly downloads a malware virus to their own device, this could upload to your own system once they come into the office.
You need to improve endpoint security when investing in your cybersecurity systems, but more than that you need to train your employees.
If every single one of your employees knows how to protect themselves at work and at home, they can reduce the risk of malware infection dramatically.
One of the biggest demographics of cybercriminals aren’t far-away hackers in their basements. They are your employees who have unfettered access. Install access security levels throughout your business so that employees only have access to the data that they need, and ensure higher-level executives use very high-security standards.
You won’t be able to back up your entire business offline, but by focussing on the essentials, you can save the core of your business should it ever be ransomed and, in the worst-case scenario, deleted.
Off-site backups should have no connection to the internet and should also be made redundant (meaning you have two or more backups in separate locations). This, on top of cloud backups, will help you protect your business from utter deletion
The Growing Threat of Cyber-Attacks
Cyber-attacks are growing in severity because it is just so lucrative. In the next five years, it is estimated that they will steal or sell enough data from businesses to total into the trillions. Cybercriminals have no reason to stop because it is so hard to catch them and so many of their crimes will go unpunished.
The best method today is to prevent their attacks, or at the very least to reduce their severity. Once you do that, you can better protect your business and grow with confidence.